Grumpy Editor

Media neglect to see if France’s top PR job is open

There may be a public relations job available at the top in France --- but no print or broadcast media have not bothered to ask, notes Grumpy Editor.

When French president Nicolas Sarkozy was being interviewed by correspondent Lesley Stahl earlier this month for a CBS “60 Minutes” segment that aired Sunday night, she asked  “what’s going on” with his wife, as rumors at that time swirled that she had left him.

"If I had to say something about Cecilia, I would certainly not do so here," the French president snapped.

"But there’s a great mystery,” Stahl pushed on.  “Everybody’s asking. Even your press secretary was asked at the briefing today.”

With that, Sarkozy’s eyes opened wide as he looked to his right where, presumably, his press secretary was positioned.

The French president was already ticked off at his press secretary prior to going before cameras, calling that person “an imbecile” for arranging the interview on a busy day.

Then Sarkozy said he had no comment and abruptly ended the interview.

Two weeks after the interview, the Sarkozys’ divorce was announced.

As for the PR person, nobody has followed up to see if Sarkozy’s press secretary is still on the payroll at the presidential palace.

British-flavored TV spot promotes a world airline

It’s quiz time.

Making the rounds is a glossy TV commercial for an airline pitching for passengers on its worldwide system.

Depicted are a glistening, wide-body jet in the air and on the ground plus a sharp-looking crew, including a snappy blonde, walking briskly in a terminal.  In smooth English, a British-accented voiceover details features and emphasizes the viewer is seeing part of “a world class airline,” notes Grumpy Editor.

The TV spot conveys that global carrier is the only way to fly.

Now, guess which airline.

a --- United Airlines
b --- American Airlines
c --- bmi (British Midland Airways)
d --- British Airways
e --- Aeroflot
f --- Virgin Atlantic Airways
g --- US Airways
h --- Continental Airlines

Answer: e.

Aeroflot, the Russian airline, takes to U.S. television to promote itself.  The largest air company in Russia, as it calls itself, flies to 93 destinations in 47 countries.  It transported 7.29 million passengers last year and, obviously, seeks to boost that figure via American television commercials.

Grumpy Editor lists FOMC’s meeting dates in 2008

Many business and financial stories relating to future Fed action, for some strange reason, tend to bury or not pinpoint actual dates of upcoming Federal Open Market Committee (FOMC) meetings in advance.  Sometimes they come close with “next week” or “next month.”

So Grumpy Editor lists all scheduled 2008 dates below.

For the remainder of 2007 are this week’s two-day meeting, Oct. 30 and 31, with another gathering on Dec. 16.

Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables.  That includes employment, output, prices of goods and services plus, of course, the stock market.

Investors, seeking clues on the direction of interest rates, focus on actions and wording in statements of FOMC’s 12 members headed by chairman Ben S. Bernanke.

Eight meetings, including four two-day sessions, scheduled for 2008:

Jan. 29 and 30.

March 18.

April 29 and 30.

June 24 and 25.

Aug. 5.

Sept. 16.

Oct. 28 and 29.

Dec. 16.

Following the meetings (or at the end of two-day gatherings), statements are released to media around 2:15 p.m., Eastern time.

‘Alien’ word in nixed Senate bill buried in DREAM

It's interesting to note reluctance by some politicians --- and many in the media --- to use the word “alien,” preceded by illegal, when referring to people who cross the border without proper documentation, observes Grumpy Editor.

It’s a word to be hushed, they figure. And they prefer not to differentiate legal entrants from illegal and thus many camouflage those entering the U.S. illegally simply by labeling them immigrants.

Yet, print and broadcast media gave heavy play this week to the DREAM Act, which failed a crucial vote in the Senate.

Nearly all simply called the measure the DREAM Act.  It was brought to the Senate floor by Sen. Dick Durbin (D., Ill). 

What many (editors and readers) did not know was the bill's full name:   Development, Relief and Education for Alien Minors Act. 

From that comes the uplifting letters DREAM --- with the A for (the frowned on) alien.

The bill, labeled and spurred by Democrats, was part of a broad plan that might have legalized, according to Associated Press, as many as 12 million illegals.  Republican opponents called it the first step toward amnesty, which they said the Senate rejected four months ago.

California blazes trigger ‘big wind’ from Washington

Overlooked in coverage of the massive Southern California fires, now in their fifth day, are nonsensical remarks uttered by politicians in far-away Washington D.C., notes Grumpy Editor.

As brushfires charred more than 422,000 acres or about 665 square miles, some started by downed (by wind) electric wires and at least one by an arsonist, Senate Majority Leader Harry Reid (D., Nev.) told reporters, “One reason why we have the fires in California is global warming.” 

Nobody asked the senator if global warming is “one reason” why summer temperatures over the past century consistently have hit a simmering 110 to 115 degrees during July and August at his home base in Las Vegas.

When a reporter sought to confirm if Reid really believed global warming caused the fires, the senator backtracked, saying many factors contributed to the disaster.

Biggest factor by far, without any dispute:

High, gale-force wind that acts like a blowtorch.

Other politicians, grabbing TV time and print space with cries for “more resources” to control the blazes, didn’t explain how state and local officials plus firefighters and other help, on the ground and in the air, could curb the powerful Santa Ana air currents sweeping off the deserts.

When California Gov. Arnold Schwarzenegger heard the “more resources” phrase  from an ABC News reporter, he shot back:  "The fact is that we could have all the planes in the world here --- we have 90 aircraft here and six that we got especially from the federal government --- and they can't fly because of the wind situation."

Fine print takes air out of alluring pitch for funds

Does 5 percent on a bank passbook savings account sound good in these days of declining interest rates?

Well, better hurry...or wait.

While a bold-face 5.00 percent (1½ inches high) stands out in current print ads of First Republic Bank, a tiny asterisk --- the size of an ant --- appears at the upper right of the percentage sign.  Following that down to the bottom of the ad in almost unreadable small white print against a black border background shows:

“ * $150,000 minimum balance required to obtain the stated APY of 5.00% for a Passbook Savings Account.”  Opening an account with less funds, with a minimum of $5,000, pays lower rates.

Grumpy Editor notes two cautions face potential patrons.  The Federal Deposit Insurance Corp. (FDIC) insures accounts to $100,000.  Thus, depositing $150,000 goes over the FDIC insured limit.  Then small type also mentions, “on the $150,000+ balances, rates are not subject to decrease until January 8, 2008.”

For that “Guaranteed Until 2008” rate line in the ad, that’s just 11 weeks away.

First Republic Bank, headquartered in San Francisco and with offices mostly on the West Coast plus New York, Connecticut and Massachusetts, was acquired a month ago by Merrill Lynch and operates within the Merrill Lynch Global Bank Group as a division of Merrill Lynch Bank & Trust Co., FSB.

Look for chilly World Series in Boston and Denver

With play that could extend to Nov. 1, chilly weather will be a factor in the World Series between the Red Sox and Colorado Rockies starting Wednesday night in Boston.  Atmospheric conditions will feel rather balmy in Bean Town compared with three days later when the teams tangle in mile-high Denver where temperatures are forecast to drop to the upper 30s overnight, notes Grumpy Editor.

While bad weather is not in long-range forecasts for Boston or Denver, snow fell in Denver on Sunday where some Rockies players, forced to workout indoors, ventured outside to toss a few snowballs.  Denver temperatures dipped to the upper 20s on Sunday and yesterday.

Even with Boston, however, the thermometer will be heading for the low 40s on Wednesday and Thursday evenings --- when games end close to or past midnight, local time.  That means heavy jackets and warm head gear for fans in the stands and ballplayers in dugouts.

Sports writers will have to be fortified, too (with their secret, long-tested remedies), to guard against frostbite at keyboards.

Look for lots of blowing on hands by pitchers in games that were designed to be played in warmer daytime temperatures.  Handling and tossing baseballs by all players will be tricky with chilled fingers.

Market’s action grabs attention after Friday’s drop

Sharp eyes will be on stock market action today following Friday’s 366.94 point drop in the Dow industrials to 13522.02 on fears about credit and housing sectors, record-high oil prices, a slide in the dollar and what the Fed will do at its Oct. 31 meeting.

The slide continued in early trading today, with the Dow down about 100 points.  But the market turned around in a zig-zag session, advancing 44.95 to close at 13566.97.

Friday’s decline came after media, thriving on anniversaries, brought week-long reminders of Black Monday two decades earlier on the same date, Oct. 19, that saw a 23 percent plunge in the Dow, notes Grumpy Editor.

Sluggish earnings reports contributed to Friday’s sell-off.  Included were some financial institution surprises, affected by the much-in-the-news credit crisis that appeared on the financial scene two months ago, triggered by problems with subprime loans to people with poor credit.

Citigroup, largest U.S. banking operation, fell to a four-year low after profit slid the most in three years.  Bank of America, the second-largest, tumbled after setting aside $2.03 billion for credit losses. Washington Mutual, biggest savings and loan, slid to a five- year low after its earnings slumped.

A bright spot, however, was Google.  Going against the trend, it rose $5.09 Friday to a record close of $644.71.

Overall, things aren’t as bad as print/broadcast media reported.

With the Dow industrials much higher these days, Friday’s 2.6 percent decline compares with the hefty 23 percent drop on 1987’s Black Monday.  Marketwatch, Associated Press and others with handy calculators, figured a decline of similar proportion at the market’s current level would mean a steep slump of 3,100 points.

WSJ overlooks story that affects 50 million people

Seems strange that The Wall Street Journal yesterday missed an economic story that affects 50 million people, a solid slice of the U.S., observes Grumpy Editor. 

The absent piece, which made its way to front pages of other publications around the country, was word that Social Security recipients come January will receive a 2.3 percent cost-of-living adjustment (COLA).  That’s a full 1 percent below this year’s figure, making it the smallest increase in four years.

However, The Journal’s Web site shows an eight-paragraph Associated Press story on the announcement, posted Oct. 17 at 9:39 a.m.  But it never got into print --- via staffer or AP version.

Fitting the information into Thursday’s editorial space wasn’t the problem.  For example, WSJ editors managed to work in an item on a former chief executive of a software firm sentenced to four weeks of community confinement.

For most Social Security recipients faced with higher inflation --- although the WSJ continues to use the word “tame” when covering the subject --- the COLA is a key announcement for them annually in mid-October.

Most media ignore released deputy in ‘illegals’ case

Other than some Texas print and broadcast coverage and a live interview on Glenn Beck’s CNN show Tuesday, few national media have reported the prison release of Edwards County (Texas) deputy sheriff Gilmer Hernandez, finds Grumpy Editor.

With national debate over illegal immigration, the same media gave Hernandez’s case broad coverage before and when he was sentenced to jail in a case that involved shooting at a fleeing carload of illegal aliens, which slightly wounded a female passenger.

Hernandez, charged with violating the woman’s civil rights, was convicted in federal court and sentenced to a year in jail, despite claims of acting in self-defense, saying the stopped vehicle abruptly pulled away and tried to run over him.

Recounting the incident, Hernandez said, “It happened in a split second.  I was in fear of my life.  I did what I was trained to do.”

On Beck’s CNN program, Hernandez said the FBI never interviewed him in connection with the case.

With time off for good behavior, he was released after 10 months and returned home to his family in Rocksprings, Texas, on Monday.

Rocksprings happens to be on a main smuggling route from Mexico.

San Antonio Express-News writer John MacCormack said Hernandez’s return in “downtown Rocksprings became a welcome-home carnival as more than 350 people --- some flashing colorful signs and posters --- crowded around the front of the school, blocking traffic, waiting to pay their respects to a local guy who had once taught as a substitute there.”

That’s a large turnout in a town with a population of 1,150.

Envision several hundred excited people, some with signs and posters, blocking traffic.  Those are the elements that spark live TV coverage.  National assignment desks --- figuring it wasn't an animated protest as happens in Los Angeles --- turned the other way on Hernandez’s return.

Meanwhile, the person active in his case, U.S. attorney Johnny Sutton, three days earlier spoke to 120 people at the Petroleum Club in Midland, Texas, and declared the 2,000-mile southern border is better secured now than at any time in history, according to the Midland Reporter-Telegram.

Writer Bob Campbell added that Sutton said “the 5,000 mile Canadian border remains worrisome despite the Canadians’ vigilance.”

Campbell’s lead on the story offers additional insight on Sutton, noting the U.S. attorney “described ‘the pipeline’ through which illegal immigrants from the Middle East are getting into the U.S. and said most are trying to improve their living conditions like those from other countries.”

That pipeline, Sutton added, “starts in Moscow, Russia, and runs through Cuba and Guatemala City, Guatemala, where they get on buses to the border.”

Apparently Sutton isn’t concerned with the word illegals along the southern border which he just hailed is better secured now than at any time in history.