Grumpy Editor

Tesla regains $18 analyst-linked one-day drop in 8 days; Kansas City Star cites Obama boost in middle class lives

After a Goldman Sachs market analyst’s comments sent Tesla Motors Inc. stock down $18.21 to $109.05 a share on July 16, the buoyant electric car maker steadily regained upward movement, capped by a positive outlook Friday from a Deutsche Bank analyst as the Palo Alto-based auto firm's stock jumped $5.32 to $129.39 a share, notes Grumpy Editor. 

That put Tesla $2.13 above its July 15 close of $127.26, a day before Goldman Sachs analyst Patrick Archambault set a Tesla price target of $84 a share, sending the auto maker’s stock south.  (Interestingly, two months earlier Archambault set a price target of $61.)

On Friday, Deutsche Bank analyst Dan Galves upgraded Tesla, saying the electric car maker “has taken a very large step ahead of the competition” and raised his rating to “buy” from “hold.”  He boosted his price target to $160 --- about double that of Goldman Sachs analyst Archambault two weeks ago. 

Despite a down market today, Tesla jumped to a new high, up $5.23 to $134.62.

Zig-zag comments with opposing analysts’ views are what trigger gray hairs on business writers and investors.  

Deutsche’s Galves told an Associated Press reporter:  "Several unbiased third parties (are) concluding that Tesla's first mass-produced vehicle is the best car they've ever tested.  In the eyes of many consumers and critics, (Tesla has) designed a superior car by taking advantage of the architectural attributes of an E-vehicle (such as battery placement underneath the floor of the vehicle), and using this to (the company’s) advantage (i.e. better handling, quietness, storage, interior volume)."

 

KC Star sees ‘gusto’ in Obama speech 

While many in the media cited President Barack Obama’s on-the-road speeches at two college campuses last week as recycled material --- although it included new remarks on “phony scandals” (such as Benghazi, IRS, and NSA spying) --- the Kansas City Star saw some nuggets that inspired an editorial.

The Star noted glowing pluses in the president’s comments for middle class folks. 

“Obama left the naysayers behind and pledged to spend the rest of his time in office fighting to improve the lives of the middle class,” read the Star editorial.  “He did so with gusto.” 

The editorial in the McClatchy Co.-owned newspaper also beamed, “His template is consistent, reasonable and refreshingly positive:  access to quality education from preschool to college, infrastructure upgrades, good paying jobs, home ownership, secure retirements and affordable health care.” 

The Star’s daily circulation, as of a March 31 tally by Alliance for Audited Media, was 189,283.  That compares with weekday circulation of 206,441 in September, 2010.

 

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NBC plans a Hillary Rodham Clinton miniseries timed to precede the 2016 presidential election.  It’s linked to the network’s effort to create "event" programming.  Diane Lane is set to portray the former first lady and secretary of state...More Hispanic adults are consuming news in English from television, print, radio and Internet outlets, according to a Pew Research Center survey.  It found 82 percent said they get at least some of their news in English, up from 78 percent six years earlier.

Bank PR problem:  First National Bank of Wellston (Ohio) has a very irritated female in its community.  The two-office bank foreclosed on the wrong house --- which happened to be hers.  With the action, out went her belongings, with most hauled away, some sold, others trashed…In another problem --- the type that shakes up PR folks --- when San Diego Mayor Bob Filner held a press conference Friday to announce he was undergoing two weeks of counseling, his microphone went dead soon after he started talking.  It was out for about 10 minutes while about two dozen print and broadcast staffers anxiously waited (they expected him to resign).  MSNBC, Fox News and CNN anchors, some depending on a feed from KFMB in San Diego, had to ad lib during the blank period. Meanwhile, a next-day Associated Press story identified Filner as a Democrat --- in the eighth paragraph. 

    Political affiliations usually are indicated at first mention of name.

Lid clamped on Benghazi attack details from survivors; Veteran Marine in Taliban corpse case plans to write book

Media’s quest in seeking input from (not heard from) survivors of the Benghazi, Libya, terror attack that killed four Americans last September continues to be hampered by a solid block wall, finds Grumpy Editor.

The Weekly Standard’s Daniel Halper reports Congressman Frank Wolf (R., Va.) on the House floor Thursday said survivors of the Benghazi attack have been forced to sign non-disclosure agreements.

 "According to trusted sources that have contacted my office, many if not all of the survivors of the Benghazi attacks along with others at the Department of Defense, the CIA have been asked or directed to sign additional non-disclosure agreements about their involvement in the Benghazi attacks,” writes Halper.

“Some of these new NDAs, as they call them, I have been told were signed as recently as this summer."

Wolf, adds Halper, noted the Marine Corps Times reported the Marine colonel whose task force was responsible for special operations in northern and western Africa at the time of the attack is still on active duty despite claims that he retired…and therefore could not be forced to testify before Congress.”

The maneuvers, mentions Wolf, raise “serious concerns about the priority of the administration's efforts to silence those with knowledge of the Benghazi attack in response.”

Marine in Taliban case plans to write book

Sgt. Joseph Chamblin, a 15-year Marine veteran who was fined and demoted for urinating on Taliban corpses in Afghanistan two years go, says he would do it again, writes Kristina Wong in The Washington Times.

Furthermore, he plans to retire in September --- and write a book.

Does he regret what he did?  “Hell, no,” barks Chamblin.

The infamous incident became international news after a video was uploaded to YouTube. It led to courts-martial of nine Marines for the episode. 

Chamblin was on a mission to stop Taliban insurgents from making roadside bombs, the kind that killed a member of his sniper team days before the incident.

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At least five retailers --- all with strong New England ties --- have banned selling the current issue of Rolling Stone with suspected Boston Marathon bomber Dzhokhar Tsarnev on the cover:  CVS and Walgreens pharmacies, Tedeschi Food Stores and other grocery chains Roche Bros. and Stop & Shop…Strange diversification:  The Washington Post Co. is acquiring 86-year old Forney Corp., a global manufacturer of oil and gas burners for electric utilities.  The company in 1983 expanded abroad by selling burner-management systems and other products to fossil-fuel-fired plants in China.

 

Shuttering operations:  Quebec-based Sun Media Corp. is closing 11 newspapers across Canada and eliminating 360 jobs as part of a cost-cutting plan…Three Dayton, Ohio-area community newspapers are closing Aug. 9 --- the Springboro Sun, the Kettering-Oakwood Times and the Centerville-Washington Township Times…Lawrenceville, Ga.-based Southern Community Newspapers Inc. closed photo departments at five dailies and two weeklies.  It will call on its journalists to shoot art and post on the Internet.

Expanding with newspapers:  Warren Buffett's Berkshire Hathaway Inc. is adding the Press of Atlantic City, N.J. to its family.  The Press, with a daily circulation of 67,000, marks Berkshire’s 31^st daily.

A flood that wasn’t:  Associated Press, in reporting a T-storm that rained on the Las Vegas Strip, said it amounted to 0.35 inches.  That seems like a torrent.  Actually, the correct measurement is 0.35 of an inch.  That’s about a third of an inch.  AP is not alone with the "inflated" amount.  Some news writers often wrongfully tally precipitation totals under an inch.

Will baseball All-Star Game see pickup in the pace?: While Harry Reid stresses growth/jobs, Nevada business ebbs

Will TV viewership of the 2013 Major League Baseball All-Star Game on Tuesday continue downward or, with some brisk pace and spark, will video watchers be greeted with action that boosts the rating, wonders Grumpy Editor.

Last year’s game was the least-watched All-Star Game on record, drawing 10.9 million viewers, down from 11 million in 2011. 

A key factor triggering yawns and causing viewers to switch to other channels appears to be the ever-growing relaxed pace of the game that originated before the American Civil War (1861-1865) as rounders, played on sandlots. 

The front-page feature by Steve Moyer in the Wall Street Journal’s Friday Arena section notes:  “By WSJ calculations, a baseball fan will see 17 minutes and 58 seconds of action over the course of a three-hour game.” 

The almost 18 minutes of action, emphasizes Moyer, includes balls in play, attempts on stolen bases, wild pitches, trotting batters such as with home runs, pickoff throws and walks.

To those, Grumpy Editor adds other contributions to the game's slower pace and inaction just focusing on the batter --- stepping (after a pitch) far out of the batter’s box (including a circuitous route walking behind the umpire to get back to the plate), practice swings before and between pitches, spitting, tapping dirt from shoes, adjusting batting gloves after every pitch and calling time. 

Pitchers, too, slow the game.  Adjusting cap after every pitch, long staring in to catchers, walking around the mound and picking up the rosin bag, and tossing several times to a base, hoping to nail a runner. 

Will the pace tick up this year?  Stay tuned. 

 

More 'Buy America' sought; CNBC: Nevada slips 

After the June employment report, Senate Majority Leader Harry Reid (D., Nev.), in a news release from his hometown of Searchlight, Nev., declared, "We need to continue advancing policies that spur growth and create jobs. It's time for Republicans to let go of their failed austerity policies that weigh down our economy and prevent a speedier recovery. We simply can't cut our way to prosperity. “ 

A key way to hypo recovery and boost jobs is by pushing for more American-based jobs. 

While Reid’s staff was preparing his “spur growth and create jobs” comment, Rob Hotakainen at McClatchy’s Washington Bureau developed a lengthy story on how the new San Francisco-Oakland Bay Bridge, set to open in two months, used 43,000 tons of steel --- from China, producing thousands of jobs away from U.S. shores. 

Hotakainen mentioned that with 70,000 U.S. bridges needing repairs, John Garamendi (D., Calif.) wants Congress to pass more “Buy America” requirements, using more U.S.-made materials and creating more manufacturing jobs. 

While imported steel (for the Bay Bridge) costs less, added Garamendi, “the (Chinese) steel had flaws, the welds had flaws and the end result was no money was saved.” 

It should be pointed out that while the Senate majority leader seeks to “spur growth and create jobs,” Nevada --- the state Reid represents --- slipped to 46^th place from 45^th last year among “states for business,” reported Scott Cohn, CNBC senior correspondent. 

“The Silver State,” said Cohn, “is still mired in the housing crisis, with the highest foreclosure rate in the nation. With the highest unemployment as well, it is no wonder Nevada finishes at the bottom of our economy category. It also finishes at the bottom for education, and near the bottom for quality of life and access to capital.”

 

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Extraordinary non-stop coverage on cable news channels leading up to the "not guilty" verdict late Saturday in the George Zimmerman case in Florida --- and continuing over the weekend and today on MSNBC, CNN and HLN --- sidetracks follow-ups or updates on the Benghazi incident, turmoil in Egypt, fighting in Syria, IRS scandals, ObamaCare problems and conflicts/inactions in Congress as a long summer break looms…Not getting much play in key media is a piece in the military newspaper Stars and Stripes reporting the Pentagon is eyeing plans to eliminate danger pay for service members in up to 18 countries and five waterways around the world”…”saving about $120 million each year while taking a bite out of troops' salaries.”

 

Bad PR for journalists: A Pew Research Center study finds 27 percent of Americans say journalists contribute little or nothing to society’s well being.  At the top of the list, 78 percent of those surveyed put the military contributing “a lot” to society’s well being…PC World’s August print edition will be its last after 30 years of publishing but it will continue as an online magazine…A Gallup poll shows television is the main source Americans turn to for news about current events (55 percent), leading the Internet (21 percent), newspapers/print publications (9 percent) and radio (6 percent)…Santa Ana, Calif.-based Orange County Register is expanding its reach to Los Angeles County where it plans an Aug. 19 start with the Long Beach Register, publishing six days week.

EPA power-curtailing plan means soupy ice cream; Surprise! Survey finds most fireworks made in China

Will soupy ice cream and soggy, unfrozen peas in your freezer be common in the future as your local utility cuts power on high demand days, wonders Grumpy Editor. 

CNSNews.com --- in material that didn’t get much coverage in major print/broadcast outlets --- reports, “The Environmental Protection Agency has revised its Energy Star energy-efficiency requirements for residential refrigerators, and it is encouraging the inclusion of 'connected' features that respond to utility signals to curb their energy consumption.” 

That means the “connection” allows a power company to regulate appliances' electricity usage, including curtailing operations during peak demand periods, such as on hot summer afternoons.

CNSNews.com, from an EPA release, points out updated requirements encourage manufacturers of Energy Star appliances to include optional "connected" features.

Revised Energy Star refrigerator-freezer specifications are slated to go into effect on Sept. 15, 2014.

 

China provides spark for fireworks in U.S.

Since few people, especially around Fourth of July celebrations, observe the “manufactured in” fine print on fireworks packages, it comes as no surprise that a new study, via the American Pyrotechnics Association (APA), finds 93 percent of all fireworks set off in the U.S. are produced in China.

In reporting this on Friday, the Washington Times notes the U.S. made only 6.7 million of the total 207.5 million pounds of fireworks purchased domestically last year.

Bethesda, Md.-based APA, as the nation’s oldest and most recognized fireworks trade group, promotes safety in design and use of legal fireworks.

 

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Hoffman Media is sticking by celebrity chef Paula Deen.  While others have pulled out backing her, the Birmingham, Ala.-based publisher has no plans to stop printing Cooking with Paula Deen, one of eight Hoffman magazines targeted at the women’s market…Chicago-based Tribune Co. agreed to buy 19 television stations from Local TV Holdings in a $2.73 billion deal that boosts Tribune’s television stations to 42…For the first time in four years, local TV news salaries are down, reports the latest Radio Television Digital News Association (RTDNA)/Hofstra University survey.  See the full statistics, including radio, here.  

The Star-Ledger, Newark, puts its 47-year-old headquarters building on the market a week after the paper, largest in New Jersey, threatened to close if union concessions are not met…Al Jazeera America signs former CNN anchor Soledad O’Brien and will feature her as a special correspondent for its prime time news magazine, America Tonight...So you think ad agencies have it easy?  Ad Age’s Nancy Hill points out several global advertisers who spend billions of dollars in advertising are proposing extended payment terms --- 75, 90 and up to 120 days --- for work from ad agencies.  At the 120-days level, that means output finalized today is paid by Thanksgiving.  Standard payment terms are usually 30 to 45 days. 

Road to master’s degree cut:  University of Southern California’s Annenberg's School for Communication and Journalism will begin offering a master’s degree in journalism in nine months rather than two years.

$7 billion power bill for Africa taps U.S. taxpayers; Newspaper editorial head count continues downward

American taxpayers, often facing power outages and steady rate increases from their local electric utility, are raising eyebrows today following President Barack Obama --- while on a three-nation tour of Africa --- pledging $7 billion to bring electricity to more parts of Africa, notes Grumpy Editor. 

The Power Africa project is directed mainly at Ethiopia, Kenya, Liberia, Nigeria, Tanzania, Uganda and Mozambique. 

Speaking yesterday in Cape Town, South Africa, Obama says the project would bring electricity to as many as 20 million homes and businesses in sub-Saharan Africa. 

Today’s assignment:  Survey U.S. media reports, see if there is mention that U.S. taxpayers would be supporting the $7 billion project in Africa while at home they are facing higher power bills and, in some cases, other costs. 

In Nevada, for example, a recently-passed state bill calls for NV Energy to shutter coal-fired power plants and replace them with renewable energy and natural gas facilities --- with ratepayers reimbursing the New York Stock Exchange-listed utility for both closing old power plants and for construction of new ones.

 

Newspaper editorial staffers slide continues 

There were about 2,600 fewer full-time professional editorial jobs at newspapers last year, a 6.4 percent decline from 2011, leaving that category with about 38,000 full-time employees, reports the American Society of News Editors in its annual newsroom census.

The total could be even lower.  ASNE points out some large newspapers did not fill out the survey this year, resulting in missing data.

Those include USA Today, the Los Angeles Times, the Baltimore Sun, the Arizona Republic, the Miami Herald, the (New Orleans) Times-Picayune and several others.

In all, 978 of 1,382 dailies responded to the survey.

Additionally, notes ASNE, the definition of editorial staff has become muddled as some newspaper operations maintain regional editing centers.

 

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Crossfire will be returning to CNN in the fall.  An earlier version aired for 19 years…At least a dozen Los Angeles Times editorial staffers received pink slips Friday…The Star-Ledger, Newark, part of Advance Publications, warns its 771 workers it may shut down by the end of the year if its employee unions don't make concessions…Not getting much coverage:  CNSNews reports that “the Internal Revenue Service sent 23,994 tax refunds worth a combined $46,378,040 to ‘unauthorized’ alien workers who all used the same address in Atlanta, Ga., in 2011”…In a massive downsizing, the U.S. Army is slashing the number of active duty combat brigades to 33 from 45. A brigade usually numbers about 3,500 soldiers, but can be as large as 5,000 for the heavily armored units…Los Angeles bans plastic bags used in supermarkets.  Patrons have to bring their own reusable bags or pay a dime for each paper bag.  (No reports from environmentalists on concern in the number of trees cut down to supply sudden heavy usage of sturdy paper bags)…John Shaffer, program director at KDWN, Las Vegas, is named president of the Associated Press Television and Radio Association (APTRA).

A Bergen County, N.J. couple is facing a fine (up to $500) after neighbors complained the bird feeder of Alfred and Annette Rockefeller is attracting too much wildlife. Alfred, 77 and disabled, says feeding birds is one of his joys.