Grumpy Editor

SOME AMERICANS FALL BEHIND ON CAR PAYMENTS

Some Americans are falling behind on their car payments, notes Grumpy Editor.

An analysis by Moody’s Analytics reveals 9.3 percent of auto loans to people with low credit scores were at least 30 days behind on payments at the end of 2022.

A shortage of vehicles resulted in a jump in car prices.

Many borrowers took out higher loans to meet the increased price tags.  Thus, it was more difficult for some to keep up with payments.

Borrowers who took out big loans at the height of the boom owe more than their vehicles are worth.

So they are falling behind in their payments.

 

IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…

HOUSING MARKET VALUE DROPS.  In the last half of 2022, the value of the U.S. housing market shrank by the most since the real-estate bubble popped in 2008, notes Bloomberg.  After peaking at $47.7 trillion in June, total value of U.S. homes declined by $2.3 trillion, or 4.9 percent, in the second half of 2022, tallies a real estate brokerage.

ALMOST THE SAME HEADLINE OVER THE YEARS.  For years, since after the Korean War, this headline appears, at least on a weekly basis.  From: Saturday newspapers…"North Korea test-fires missiles.”

U.S. TROOPS TO TAIWAN.  The U.S. is preparing to send 100 to 200 troops to Taiwan for training amid rising tensions with China. The Michigan National Guard also will train a contingent of the Taiwanese Army.  

WHITE HOUSE MESS REOPENS.  On March 6 the White House mess will open for in-person dining for the first time in President Biden’s White House.  The wood-paneled room with a nautical theme has been closed since the winter of 2020 under COVID restrictions.

BUT IS IT REFLECTED ON YOUR BILL?  Natural gas prices have dropped moe than 65 percent since mid-December.  That’s the lowest level since 2020’s pandemic lockdown.

ANOTHER JOURNALIST IS KILLED IN MEXICO.  A Mexican news photographer dies after being stabbed and beaten in an attack in Ensenada, a popular destination of tourists from California.

DOGS AND CAR WINDOWS TRIGGER REACTION.  Proposed Florida legislation to ban dogs sticking their heads out of car windows when vehicle is in motion gets animal lovers upset.

MILLIONS OF DRIVERS HAVE HEAVY EYES ON THE ROAD

About 37 million American drivers at least once a year get behind wheels when they are so tired they can barely keep their eyes open, reads Grumpy Editor.

That’s six in 10 people, finds a survey by the National Sleep Foundation.

"Drowsy driving is impaired driving," says Joseph Dzierzewski, the foundation's vice president of research and scientific affairs. "We see that while most Americans believe drowsy driving is risky, they still drive when not fully alert. The good news is -- drowsy driving is preventable."

In a survey conducted this fall, nearly 20 percent of respondents were overly confident in their ability to drive after sleeping only two hours or less the previous night.

Respondents claiming they get the recommended amount of sleep --- about seven to nine hours per night for adults and eight to 10 for teens --- were less likely to drive drowsy, says the foundation.

 

IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…

DROUGHT HITS EAST AFRICA WILDLIFE.  During East Africa's worst drought in decades, the Kenya Wildlife Service and other groups count deaths of 205 elephants, 512 wildebeests, 381 common zebras, 51 buffalos, 49 Grevy's zebras and 12 giraffes in the past nine months.

GANNETT JOURNALISTS GO ON STRIKE.  More than 200 Gannett journalists around the country walked off their jobs on Friday. It was part of a one-day strike demanding better pay and benefits.

BANK ROBBERS ACTIVE IN NEW YORK.  New York City bank robberies jump 42 percent this year.  There have been 135 bank heists through Oct. 23 compared to 95 during the same period in 2021.  One mid-town bank has seen four robberies this year with the latest this month.

LENA HORNE THEATER OPENS.  Brooklyn-born singer and actress Lena Horne, who died in 2010, becomes the first Black woman in U.S. history to have a Broadway theater named in her honor.  The original Mansfield theatre, built in 1926, becomes the Lena Horne Theatre where the musical “Six” is now playing.

SHEPARD SMITH TO DEPART CNBC.  CNBC cancels “The News With Shepard Smith” which averaged about 222,000 viewers.  His final newscast airs later this month.  A newscast focusing on business will replace Smith’s show sometime next year.

SCAM ARTISTS BUSY WITH SENIORS.   Scam artists last year, focusing on consumers 60 years and older, result in 467,340 fraud reports filed on investment, business and government impersonation.  These result in losses of more than $1 billion, notes a report to Congress from the Federal Trade Commission.

COUPLE NOTED FOR RESCUING 13,000 DOGS.  Ron Danta and Danny Robertshaw, who run the non-profit Danny and Ron's Rescue out of their Camden, South Carolina home, have rescued 13,000 dogs and now care for dozens of dogs looking for a second chance.

WITH EVIDENCE, A S.F. COUPLE ALLOWED TO PARK IN OWN DRIVEWAY

San Francisco’s planning department recently threatened to fine a couple $1,500 for parking in their own driveway, notes Grumpy Editor.

 

It's illegal to park in front of a house unless it's accompanied by a garage or cover, the planning department maintained.

 

Putting their car in the driveway for 36 years, the couple believe the space has been used for parking since the house was built in 1910 in the Noe Valley neighborhood.

 

The planning department told the couple the city would waive the fine if they could prove that the lot has historically been used for parking.

 

With evidence showing the space has been used for parking since the 1950s, the planning department reversed itself.

 

 

IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE...

 

INDIA SOON TO BECOME MOST POPULOUS.  World population is expected to reach 8 billion in four months with projections that India will replace China as the world's most populous nation next year.

U.S., JAPANESE PLANES SHOW FORCE.  More than 50 U.S. and Japanese warplanes flew over waters near Japan as they put on a show of force amid rising tensions in the region with China and Russia.  Aircraft included a dozen U.S. Air Force top-of-the-line F-22 stealth fighters, four F-35 stealth jets and 13 F-15 jets.  They were joined by 20 Japanese F-15 and F-2 fighters.

SOME CITIES LOSE FLIGHTS.  Some U.S. cities by September will lose some or all air service from United, Delta or American Airlines.  That stems from pilot shortages, a rise in fuel prices, new contract with the pilots and inflation.

JILL, LONG-TIME SHELTER DOG ADOPTED.  American pit bull mix Jill, a Henrietta, Texas dog, is adopted after spending 10 years — most of her life — at Clay County Animal Shelter.

AMERICAN FALLS INTO VESUVIUS CRATER.  A 23-year-old Maryland man is rescued after falling into the crater of Italy’s Mount Vesuvius while taking a selfie.  He was visiting with two family members.  All hiked up Vesuvius from the Ottaviano to the top of the volcano through a forbidden trail.

POLICE CHASE WANDERING KANGAROO.  Police in Hungary capture an unusual animal on the loose, a kangaroo, after a chase of more than three miles. The marsupial was transported to the Budapest Zoo while police investigate where the animal came from.

FISH ENDANGERED IN MAINE WATERS.  Scientists say the Gulf of Maine is warming rapidly and is getting saltier, more acidic and increasingly stratified -- raising concerns for fish.  The region has historically produced some of the world's richest fish stocks — from cod to lobsters — leading to the building of billion-dollar industries.

 

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TESLA STOCK JUMP SURPRISES FINANCIAL WRITERS

After weeks rolling out negative news about Tesla, Inc., many in media were undoubtedly shook up when the electric car maker gained almost $49 a share last Thursday following its Wednesday earnings report that showed it utilized less cash than expected, noted Grumpy Editor. 

It marked Tesla’s biggest one-day post-earnings rally in more than five years.

Tesla stock on Thursday jumped 16 percent to $349.54 a share, notching the biggest one-day gain since 2013 and wiping out all of short sellers’ profits for the year.  The stock closed the week at $348.17.

This led a long-time Tesla shareholder to comment:  “The rise in Tesla stock just puts it back where it was a few weeks ago.  It fell a lot based on false and misleading information, so now it is back on a normal path.”

Tesla's shares were up more than 1,900 percent from its initial public offering at $17 a share.

Short sellers borrow shares, then sell them, hoping to buy the shares back at a lower price and pocket the difference. 

Some recent output, sometimes confusing, from financial writers:

“Electric car maker Tesla Inc. burned through $739.5 million in cash last quarter…”

“The net loss more than doubled from the same quarter a year ago.”

“Tesla reported its largest quarterly loss in its history on Wednesday and burned through $430 million in cash over three months.”

“Tesla CEO Elon Musk reported a record $718 million loss yesterday,  but the company’s stock rose after Musk managed to act normal during his earnings call.”

“Wednesday's earnings report also comes as Musk has faced scrutiny for recent erratic behavior.” 

Meanwhile, Tesla said it maintained its targeted production of 5,000 Model 3s in a week multiple times in July. The Model 3 is Tesla's first car that's aimed at mass-market buyers. The company said it wants to produce 10,000 Model 3s a week and expects to produce between 50,000 and 55,000 Model 3s this quarter.

 

IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…

 

A WESTERN WITH SALTY WORDS ON TV.   Seems Yellowstone starring Kevin Costner on the Paramount Network has resorted to using the F-word and other unneeded offensive (to many) expressions.  Too bad script writers work these in for family viewing.

CONSUMER DISTRUST IN BANKING.  Consumer distrust buffeted the banking industry's reputation over the past year, bringing an end to a run of positive change in public perception in the years after the financial crisis, according to the annual American Banker/Reputation Institute Survey of Bank Reputations.

MAN WALKS OFF WITH SHARK.  A man grabbed and walked off with a 16-inch female shark at the San Antonio Aquarium but police were led to the home of the snatcher who maintained an extensive collection of marine life and the shark was returned to its tank at the aquarium.

NEWSROOM COUNT DROPS.  U.S. newsroom employment dropped 23 percent from 2008 to 2017, according to a Pew Research Center analysis of Bureau of Labor Statistics Occupational Employment Statistics data.

MORE HISPANICS BACK TRUMP.  The Washington Times noted a Harvard/Harris poll showing a 10-point spike in Hispanic support for President Donald Trump "hasn’t received much attention from the mainstream media."  It added, it comes "in the midst of the nationwide controversy over children and families at the U.S.-Mexico border" and "suggests that Hispanics may not be the entrenched liberal voting constituency that Democrats so often imagine."

IHOP SEES BURGER BOOST.  Remember the recent widely covered “name change” of pancake restaurant IHOP to a temporary IHOB when the B stood for burgers?   In the first three weeks after the announcement hit, IHOP revealed it sold four times more burgers and that burger sales have “remained stable” in the following weeks.

GIs FACE TOUGHER TESTS.  U.S. soldiers will be required to take tougher fitness tests by October, 2020.  A 50-minute test will involve a strength deadlift, a medicine ball power throw, a set of pushups, a 250-meter "sprint/drag/carry" event, leg tucks, and a two-mile run.

AUTOMOTIVE ISSUES TOP COMPLAINTS.  For the sixth consecutive year, consumers complained about automotive issues more than anything else in 2017, reported the Consumer Federation of America which analyzed nearly one million complaints.

CHASE SIMPLIFIES ATM ACTION.  Chase Bank said almost all of its 16,000 ATMs around the U.S. now allow people to withdraw cash using their mobile wallets by simply tapping their handsets on the machines, rather than physical debit cards.

Media trumpet seat belt issue found in only one Tesla

 

A Tesla Motors, Inc. customer in Europe who mentioned an apparent faulty seat belt in a Model S car triggered unusually heavy coverage in broadcast/print media late last week, noted Grumpy Editor.

The finding, observed by one driver, was repeated during Friday’s hourly radio news, then on evening TV broadcasts, in depth in the next day’s newspapers --- and into the weekend.

The excessive media focus is what causes corporate public relations people to sprout premature gray hairs.

Wide coverage of the single seat belt malfunction was enough to shake up always-nervous investors, sending stock of the Palo Alto, Calif., electric car company down as much as 8.22 points in Friday trading before recovering to close off 1.79 at $220.01 a share.

Tesla said a front seat belt of a car in Europe “was not properly connected to the outboard lap pretensioner” (translation: it involved a bolt not properly assembled), adding “this vehicle was not involved in a crash, there were no injuries and the problem was not found in any other car that was inspected.”

Tesla said it decided to conduct a voluntary recall as a “proactive and precautionary measure” and drivers can book a free vehicle inspection online or by phone.

 

IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…

PRE-SEASON CLIMATE CHANGE.  More than four weeks before winter officially arrives, snow up to 20 inches deep blanketed South Dakota, Minnesota, Iowa, Illinois and Indiana before heading to Canada over the weekend followed by temperatures dipping to single digits.  One wonders if photos of the pre-season storm will circulate at the United Nations climate change conference, widely known as COP21, that starts in Paris next Monday.

PRESIDENT CITES WIDOWS AND ORPHANS.  As last week’s Paris terrorist attacks intensified debate over whether the U.S. should allow Syrian refugees to enter the country, coupled with difficulties and the lengthy vetting procedure (that can take 18 to 24 months in normal times) of Syrians and others, President Barack Obama, while visiting in the Philippines, lashed out at Republicans who insist on barring Syrian refugees from entering the U.S.  Despite mostly sturdy young males eyeing the U.S., President Obama declared, "Apparently (the Republicans are) scared of widows and orphans coming into the United States of America.”  Meanwhile, back in Washington at a House Judiciary Subcommittee on Immigration and Border Security hearing following President Obama’s remarks on Syrian refugees, Rep. Trey Gowdy (R-S.C.) responded what he’s “really afraid of is a foreign policy that creates more widows and orphans”…Meanwhile, despite the dwindling number of active U.S. ships, President Obama, while in the Philippines last week, handed over two U.S. ships --- a Coast Guard cutter and a research vessel --- to the Philippine navy.

MEDIA FISTICUFFS.  In the ongoing battle between George Will, Washington Post columnist, and Bill O’Reilly, which was triggered over the Fox News host’s best-selling book, “Killing Reagan,” Will, a stickler for facts, remarked, “His is an interesting approach to writing history:  Never talk to anyone with first-hand knowledge of your subject”…A Hollywood Reporter magazine cover showing eight actresses, contenders for awards this season, caused controversy in social media --- because all are white.  Selected were Charlotte Rampling, Carey Mulligan, Jennifer Lawrence, Jane Fonda, Kate Winslet, Brie Larson, Cate Blanchett and Helen Mirren. Executive editor Stephen Galloway said the lion's share of responsibility for the lack of women of color falls on the Hollywood studios that create and cast the movies.  "The awful truth is that there are no minority actresses in genuine contention for an Oscar this year,” Galloway pointed out. 

STRANGE WASHINGTON GOP THINKING.  Look for the Republican establishment soon to kick off a major anti-Donald Trump campaign rather than using talent and funds to level shots at the opposition party…Reports over the years indicated coffee is good for you, then bad, then good, then bad, etc.  The latest?  Word from Harvard School of Public Health, Boston:  People drinking up to four cups of coffee a day are less likely to die from heart disease, neurological disease, type 2 diabetes --- or suicide…Condé Nast, which publishes GQ, Vanity Fair, New Yorker, Vogue, Wired, among others, is closing down fashion title Details magazine, founded in 1982, with the December issue.

Keeping the Post Office busy:

Received --- by a non-subscriber --- on the same day via mail: Kiplinger’s Retirement Report, marked “First Issue Enclosed” on the envelope, and The Kiplinger Letter, marked “Last Issue Enclosed” in a separate mailing.

Bright economic news laced with negative developments

 

Grumpy Editor cites examples of why business editors these days get premature gray hair via contrasting information and figures over the past few days such as focusing on the rise of missing auto loan payments coupled with car sales expected to grow this year, job creations topping expectations, yet most Americans are living paycheck to paycheck.

All this with Washington spotlighting 252,000 jobs created last month --- higher than expected, while job gains in the prior two months were revised upward by a total 50,000 as the nation’s unemployment rate fell more than predicted, to 5.6 percent from 5.8 percent in November.

In addition, the government said employers added an average 246,000 jobs a month last year, making 2014 the best job growth year since 1999.

Meanwhile, auto and truck sales this year are seen growing as much as three percent, said General Motors Co. CEO Mary Barra.

Sounds rosy.

But as Friday’s Wall Street Journal pointed out, “borrowers who took out auto loans over the past year are missing payments at the highest level since the recession” as new car sales reached 16.5 million, best in eight years.

MarketWatch on Saturday noted, “Americans are feeling better about their job security and the economy, but most are theoretically only one paycheck away from the street,” adding about 62 percent have no emergency savings, based on a Bankrate.com survey.

Indeed, U.S. personal savings remained low.  The U.S. Bureau of Economic Analysis tallied personal savings dipped to 4.4 percent in November from 4.6 percent a month prior.  This compared to an average 6.81 percent from 1959 until 2014, reaching an all-time high of 14.6 percent in May, 1975.

 

FYI, IN CASE YOUR FAVORITE EDITORS MISSED THESE…

Among the top 10 most stressful jobs of 2015, according to CareerCast.com, Carlsbad, Calif., are broadcaster (No. 7), photojournalist (No. 9) and newspaper reporter (No. 10).  Rankings are based on physical danger, unpredictability and negative psychological effects…While the U.S. reduced its military force to about 11,000 in Afghanistan after 13 years there, the country set a record for growing opium poppies last year with total area under cultivation up an estimated 7 percent from 2013, according to the United Nations Office on Drugs and Crime (UNODC). Heroin is derived from the poppy and UNODC said opium production (5,500 tons) in Afghanistan accounts for 80 percent of worldwide opium output…In a state that relies heavily on personal vehicle transportation,  Jerry Brown --- in starting an unprecedented fourth term as California governor with new environmental goals --- proposed reducing gasoline use…Wall Street Journal Sunday content that goes to 69 newspaper business sections ends Feb. 8 as the WSJ shutters that operation which started in 1999…A Rasmussen Reports survey found “more voters than ever think women are good for the U.S. military and believe even more strongly that they should be allowed to fight on the front lines."

 

Financial news network CNBC is opting out of Nielsen’s TV ratings that measure its daytime audience, saying the global information and measurement company underreports size and wealth of its audience.

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Media jump on single Tesla fire, skip major Toyota recalls

Media were excited last week reporting on a single, non-injury Tesla Motors Model S fire in a garage in Canada while most ignored two major Toyota Motors recalls --- two days apart --- involving 261,114 Toyota and Lexus brands in the U.S., 713,000 Prius vehicles in North America (1.9 million worldwide) plus 260,000 other vehicles in the U.S., including the RAV4, Tacoma and Lexus RX350 models, notes Grumpy Editor.

The fire involving Tesla’s electric car in Toronto occurred shortly after the driver parked it in a garage.  The vehicle reportedly wasn’t plugged in for recharging. 

A spokesperson for Palo Alto, Calif.-based Tesla said: 

“In this particular case, we don’t yet know the precise cause, but have definitively determined that it did not originate in the battery, the charging system, the adapter or the electrical receptacle, as these components were untouched by the fire.” 

Interestingly, Toronto Star editors on Friday ran a Bloomberg story --- with a Los Angeles dateline --- updating the Tesla fire in a Toronto garage rather than putting one of its staffers on the local happening. 

In “localizing” the story, Star editors changed Canada (last word in the Bloomberg lead) to Toronto.

 

In case you missed these… 

NEWSPAPER FOR MARINES GETS LESS EXPOSURE AT BASE EXCHANGE CHECKOUTS.  Marine Corps Times, part of Gannett Co. which owns and operates 82 daily newspapers among other media properties, is being removed from prominent up-front newsstand locations at base exchange stores worldwide and placed away from checkout lines, where it is harder to find.  Marines are raising eyebrows because in the past year, the newspaper published many articles on the service’s commandant, Gen. Jim Amos, abusing his authority to ensure Marines were punished for an embarrassing war-zone scandal.

PRISON NEWSPAPER SUSPENDED.  San Quentin News, the monthly newspaper produced by an inmate staff of 15 at California’s San Quentin State Prison, is back in business this week following a 45-day suspension after "inmates circumvented the editorial process by publishing disapproved content" in the December issue.  The suspension of the paper, with an 11,500-copy press run, stems from inmate editors switching a photo after prison staff already approved the page.

MSNBC CONTINUES NON-STOP SPOTLIGHT ON CHRISTIE.  MSNBC is not letting up on New Jersey Gov. Chris Christie and “bridgegate.”  The cable network continues its daily extended focus on last year’s traffic jam into New York.  But Christie remains busy.  He visited Chicago Tuesday and returns tonight after he and his family spent the weekend in Puerto Rico.

BLIZZARD BATTERS TOKYO.  While snow and ice slam much of the eastern part of the U.S., as some experts, with straight faces, attribute the unusual record-setting frigid/snowy weather to global warming (aka climate change), not much is reported in the U.S. on Tokyo getting more than a foot of snow following the worst blizzard to hit the region in 45 years. 

WILL CANDY, CHERRY PIES, CHOCOLATE CAKES AND HEAPING TEASPOONS OF SUGAR INTO COFFEE BE NEXT? California state Sen. William Monning, a Democrat representing the state’s central coast, proposes to make the Golden State first in the nation to require warning labels on soda and other sugary drinks.  His bill would require labels on the front of all 12-ounce beverage containers with added sweeteners that have 75 or more calories reading: "STATE OF CALIFORNIA SAFETY WARNING: Drinking beverages with added sugar(s) contributes to obesity, diabetes and tooth decay."

DOCUMENTARY JOURNALISM COURSE SLATED.  Missouri School of Journalism at University of Missouri in Columbia receives a $6.7 million gift to create a degree program in documentary journalism, educating students in the history, business and production of film and other nonfiction multimedia.

Tesla Motors’ CEO disputes NHTSA’s usage of ‘recall’

An “auto recall” last week, involving Tesla Motors, Inc., wasn’t a true recall but most media played it up as one, irritating the electric car maker’s founder and CEO Elon Musk who disputed use of the “recall” term, notes Grumpy Editor.

Ordinarily, a recall means returning a product --- whether auto, electric drill, baby carriage, etc. --- to a dealer.

The National Highway Traffic Safety Administration (NHTSA) started use of the recall word by announcing Tesla was recalling 29,222 Model S electric sedans because parts of the charging equipment could overheat.

Musk immediately sent out word that there was “some confusion in media reports” and “no Tesla vehicles are being physically recalled by Tesla.”

Indeed, the action --- said to affect under 3 percent of the vehicles --- did not require physical return of the electric cars.

NHTSA later admitted Tesla had already begun providing owners of the affected vehicles with a software update followed by a replacement electrical adapter to eliminate the problem.

Tesla sent an over-the-air software update last month and is mailing an upgraded US 14-50 adapter to affected customers.

The NHTSA  “recall” announcement was issued on the second day of the Detroit auto show where a Tesla executive revealed the firm’s 2013 fourth quarter deliveries surpassed expectations, with almost 6,900 vehicles sold and delivered.

Along with a mid-week announcement that Tesla is looking into a charging station network in China, the company’s stock --- despite the “recall” coverage --- closed Friday at $170.01, up 30.67 points from Monday’s $139.34 close.

 

In case you missed these…

TIME TO SHAKE UP READERS AGAIN.  The Los Angeles Times continues with periodic earthquake stories.  A weekend piece cites an estimated 75 (out of 1,500) concrete buildings in Los Angeles County could topple by violent shaking.  Also in the story:  City officials have known about the potential dangers of concrete buildings for more than four decades.  (A Dec. 30 Times story mentioned apartment houses going up over or near earthquake faults.) 

NO MAPS IN THE OFFICE?  Latest Southern California wildfire --- still kicking up smoke --- triggers confusion as to what direction it is from downtown Los Angeles.  The Los Angeles Times initially places the blaze near Glendora, north of Los Angeles, then switches to northeast.  Other media outlets (all the way to London’s Daily Mail) also report the location north in the early stages then switch to northeast.  To be precise, Glendora is 21 miles east-northeast of Los Angeles’ Civic Center.

FORBES ACQUISITION BEING EYED INTERNATIONALLY.  Companies from Europe to the Far East are showing interest in acquiring Forbes Media, parent of business magazine Forbes.  Meanwhile, Forbes magazine, established in 1917, is moving its base of operations from Manhattan to New Jersey.

STAFF CUTS FOLLOW PAYROLL EXPANSION.  The Orange County (Calif.) Register, after an aggressive staff expansion, is cutting 32 jobs. Parent company, Freedom Communications, last year launched a daily in Long Beach, purchased The Press-Enterprise, Riverside, and announced plans to roll out another daily paper soon in Los Angeles.

SENATORS SEEK MORE CHATTER ON CLIMATE CHANGE.  Some Senate Democrats feel climate change should be discussed more on major TV networks’ Sunday morning talk shows.  Sens. Bernie Sanders, I-Vt., and Brian Schatz, D-Hawaii, are gathering colleagues' signatures on a letter, soon to be directed to the networks, asserting they are ignoring global warming.

MEANWHILE, EXPERT SAYS ‘COOL IT’ WITH CLIMATE CHANGE.  MIT Professor Richard Lindzen, a leading international expert on climate change, tells Boston’s WBZ-TV changes that have occurred due to global warming “are too small to account for” and “global warming, climate change, all these things are just a dream come true for politicians” --- including opportunities for taxation.

GO TO JAIL, BECOME A JOURNALIST.  Key editors of San Quentin News, a monthly produced in the California prison, are serving long sentences. The editor-in-chief is serving 65 years to life for burglary and skipping bail.  The managing editor is serving 55 years to life for bank robbery.  Other newspaper staffers are inmates. 

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.

 

In case you missed these… 

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.

Wall Street Journal takes poke at prompt loan-repaying Tesla Motors; Fast Company cites 'golden age for TV'

Rather than kudos to Tesla Motors, Inc. for paying off an almost half billion dollar government startup loan in a swift three years, a Wall Street Journal editorial took a swipe at the fast-growing electric car maker, notes Grumpy Editor.

Tesla wired a $451.8 million payment to the government on Wednesday. That sum, coupled with two prior payments, paid off a $465 million loan the company received from the Department of Energy in 2010 to foster development of advanced-technology vehicles.

The repayment came nine years early.

Despite the prompt payment (while other companies with recent government loans have defaulted or are about to) a WSJ editorial writer, in giving a bit of history on the California-based company, decided to “take apart Tesla by the numbers, if only to give our reader-taxpayers a better sense of what they’ve paid to make Tesla’s owners rich.” 

Taking up one fourth of the editorial page on Friday, the material cited subsidies, windfalls, a brokerage report and a Los Angeles Times analysis.  It even mentioned an environmentalist who noted “manufacturing and charging electric cars over their life cycle can produce more carbon than small, gas-powered vehicles.”

The negative editorial was contrary to the hefty applause WSJ’s auto writer Dan Neil recently gave Tesla after a comprehensive test drive. 

And on Saturday’s The Journal Editorial Report on Fox, Kimberley Strassel, WSJ editorial board member, praised Tesla in the week’s hits or misses segment, giving the high-tech auto firm a solid hit in paying off the loan. 

Meanwhile, those “rich owners” --- big and small investors of the publicly-held stock --- gave their answer to the WSJ editorial at the market close on Friday:  Tesla jumped $4.35 a share, reaching $97.08, almost four times above its 52-week low.

 

Magazine hails TV as top creative medium

 

Catching Grumpy Editor’s eyes was some material in the June issue of Fast Company that lead off with:  “Once a wasteland, TV is now the most thoughtful creative entertainment medium of them all.” 

Then it added, “It’s a golden age for TV, where on any given night, viewers can find multiple examples of American comedic and dramatic genius.” 

Huh? 

Sounds like something that was written in the 1950s, not the current fare that includes easy-on-the-budget reality shows, unfunny comedies peppered with laugh tracks and a parade of reruns in prime time. 

It’s hard to beat the TV menu of the 1950s.  Among top shows was Playhouse 90, a 90-minute weekly drama series on Thursdays that ran from 1956 to 1960 on CBS.  Playhouse 90 began as a live series, making a transition to tape in 1957. 

On the comedy side was Sid Caesar’s “Your Show of Shows,” on NBC from 1950 to 1954.  The Saturday night “live” 90-minute variety program, which produced genuine laughs, also featured Carl Reiner and Imogene Coca.

 

In case you missed these… 

Joel Simon, executive director of the Committee to Protect Journalists, warning on the Justice Department investigation of Fox News reporter James Rosen, declared:  "U.S. government efforts to prosecute leakers by obtaining information from journalists has a chilling effect domestically and sends a terrible message to journalists around the world who are fighting to resist government intrusion."  Meanwhile, in connection with the Rosen case and the Associated Press scandal, Jay Carney, White House press secretary, said:  The president was "a strong defender of the First Amendment and a firm believer in the needs of the press to obtain information."

 

While accused Fort Hood shooter Major Nidal Hasan has been paid more than $278,000 since the Nov. 5, 2009 incident that left 13 dead and 32 injured, soldiers wounded in the mass shooting are fighting to receive the same pay and medical benefits given to those wounded in combat…ESPN is cutting about 10 percent of its work force…Bob Schieffer, the 44-year CBS News veteran and moderator of “Face the Nation,” received the Walter Cronkite Award for Excellence in Journalism…A panel of news and news/talk experts named Hubbard Radio's WTOP, Washington, D.C., the U.S.’s top news station in Radio Ink Magazine's first listing of news and news/talk stations…ABC News’ Diane Sawyer and Fox News’ Greta Van Susteren made Forbes’ 2013 list of the world’s most powerful women.  Sawyer ranked No. 73 and Van Susteren No. 97.

 

Young spellers --- perhaps some will be future copy editors --- will be in the spotlight tomorrow, Wednesday and Thursday for the 2013 Scripps National Spelling Bee in National Harbor, Md.  The Bee, promoted by E.W. Scripps Co. since 1941, started in 1925 with nine contestants.