Grumpy Editor

BUSINESSES HAVE POSITIVE IMPACT ON PEOPLE’S LIVES: SURVEY

More than half of Americans --- 55 percent --- surveyed by Gallup and Bentley University say businesses have an "extremely" or "somewhat" positive impact on people's lives, notes Grumpy Editor.

Americans draw a sharp distinction between large and small businesses, the survey finds. They are twice as likely to say small businesses positively impact people's lives (82 percent) as they are to say the same about large businesses (41 percent).

The survey also finds Americans are very optimistic about businesses' potential to improve society.  About nine in 10 (89 percent) say businesses and companies have "a great deal of" or "some" power to make a positive impact on people's lives, similar to the percentages who say the same about state and federal government (90 percent and 88 percent, respectively).

Charitable and advocacy groups are seen as having less potential, with 71 percent of people saying they have a great deal of or some power to make a positive impact.

 

IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…

LENSES IN UPPER EYELID.  A woman who felt like there was “something in her eye” actually had 23 daily disposable contact lenses stuck under her upper eyelid.  Dr. Katerina Kurteeva of California Eye Associates, discovered the clump of contacts “in a pancake stack.”

OLDEST TREE IN CALIFORNIA.  A bristlecone pine is the world’s oldest tree species, says Guinness World Records.  Growing in California, it is determined to be 4,854 years old, verified by the Laboratory of Tree-Ring Research at the University of Arizona.

ALLIGATOR WANDERS IN — IDAHO.  An alligator, spotted wandering in New Plymouth, Idaho by a man walking his dog, surprises Idaho Fish and Game personnel because the reptile does not inhabit that state.  Besides, alligators are not legal to be kept in Idaho without a permit from the state.

TWO BROTHERS MAKE BASEBALL HISTORY. Two brothers make major league baseball history by playing against each other in NLCS game 2.  "He pitched his butt off," San Diego Padres catcher Austin Nola says of his older brother Aaron, pitcher for the Philadelphia Phillies.

RUSSIAN BOMBERS FLY NEAR ALASKA.  A pair of Russian Tu-95 Bear-H bombers off the coast of Alaska, operating within the Alaskan Air Defense Identification Zone, triggers sending two U.S. F-16 jet fighters to intercept them.

CALIFORNIA TOMATOES FACE SQUEEZE.  Rising interest rates, inflation and drought are putting the squeeze on tomatoes grown in California.  Normally, the period from July to October keeps tomato farmers busy as machines scoop up the fruit and free them from vines.

AMAZON TAKES TO THE AIR.  Hawaiian Airlines will operate 10 Airbus A330-300 cargo airplanes for Amazon.com starting next fall.  The transaction could lead to Amazon acquiring up to 15 percent of Hawaiian stock over the next nine years.

To contact Grumpy Editor:  [email protected]

LONG-RUNNING ‘NIGHTLY BUSINESS REPORT’ SIGNS OFF END OF MONTH

Dec. 27 marks the “closing bell” for TV’s long-running Nightly Business Report, learns Grumpy Editor.

 

The business news program has aired five nights a week since 1979.

Linda O’Bryon, the program’s founding executive, recounts, "before NBR, viewers had to wait until the morning newspaper to find out how their stocks closed the day before. It seems almost quaint by today’s standards. The notion of a business news program delivering stock quotes, business news and analysis just two and a half hours after the closing market bell resonated with millions of viewers.”

She adds, “When we went national in 1981, 125 public stations carried the program.”  It soon moved to more than 250 stations.

“At its peak, we had bureaus in London, Tokyo, New York, Washington, Chicago and other centers,” says O’Bryon.  "Nightly Business Report" remained the most-watched daily business news program on television –-- broadcast or cable throughout that time.”

After several ownership changes, CNBC purchased the program in 2013.  

“Times have changed,” O’Bryon points out, “and there are many ways viewers can access business news, which is instantly available on smart phones along with several cable channels dedicated to business news around the clock.”

 

IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…

 

U.S. ECONOMY CONTINUES UPSWING.  Government reports show a picture of a steadily growing U.S. economy, fueled by solid consumer spending.  The Commerce Department estimates the economy expanded at a moderate 2.1 percent annual rate in the summer.  In the July-September quarter, rise in gross domestic product (GDP) exceeds the government's initial estimate of 1.9 percent annual rate.  Spending is being supported by rising incomes and an unemployment rate near the lowest levels in a half century. 

PEARL HARBOR REMEMBERED.  Saturday marks the 78th anniversary of the Japanese attack at Pearl Harbor, Hawaii.  It resulted in four battleships sunk and four others damaged.  Also sunk or damaged were three cruisers, three destroyers, a minelayer and 188 aircraft, while 2,402 people were killed and 1,282 wounded.

SUPER BOWL COMMERCIAL TIME SOLD.  Television commercial time during the Super Bowl LIV on Feb. 2 is sold out, says Fox Corp.  For a 30-second commercial during the football game, advertisers are paying up to a lofty $5.6 million vs. $5.3 million a year ago on CBS.

'TRICKS' AIMED AT WRITERS.  Debuting on Wednesday is Writers' Tricks of the Trade: 39 Things You Need to Know About the ABCs of Writing, Kindle edition. Written by Morgan St. James, author of 18 books, she says “every chapter is packed a little about a lot, sort of like the appetizer table at a writing buffet. From tips, techniques and tricks --- each chapter has something that can be used immediately, written in lively, entertaining prose, a valuable addition to any aspiring or published writer's bookshelf.”

ONE WAY TO BEAT HEAVY TRAFFIC.  A start-up is making plans to use aircraft to fly over heavy rush-hour traffic in Southern California.  Set to carry first passengers in January, a monthly charge starts at $1,250 or about $60 a day if used Mondays through Fridays.

COUPLE BUYS WAITRESS CAR.  A couple eating at a Denny’s restaurant in Galveston, Texas, hear that waitress Adrianna Edwards walks four hours to and from work. After finishing their meals, the anonymous couple returns with a 2011 Nissan Sentra and hands Edwards the keys. Now, Edwards has a 30-minute commute.

 

MORE AMERICANS BECOME HEAVY.  A Gallup poll finds 28 percent of Americans say they weigh 200 pounds or more, a four-point jump from an earlier poll to 2009.  Still, notes Gallup, fewer Americans  consider themselves overweight or obese.

 

ANOTHER CALIFORNIA NEWSPAPER FOLDS. OC Weekly, covering Orange County in California to Long Beach with a circulation of 45,000, closes after 24 years in print. 

 

ANIMAL CRUELTY BECOMES FEDERAL FELONY.  President Donald Trump signs a bill that makes animal cruelty a federal felony, saying the measure would help us be "more responsible and humane stewards of our planet."

 

WANT TO BUY A MISSILE COMPLEX?  A former Titan II missile complex on 12.5 acres near Florence, Arizona, is for sale.  Price tag for the fixer-upper:  $395,000. 

$400 FAJITAS ON MENU.  Guard and Grace, a new Houston restaurant is selling fajitas, the popular Tex-Mex entree, for a hefty $400.  Owner and chef Troy Guard says the special fajitas include pounds of beef, all the sides, enchiladas and handmade tortillas with gold leaf. 

 

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.

Are things really rosy on the U.S. financial front?

Investors heralded the Dow Jones industrial average closing above 17,000 for the first time on Thursday in pre-Fourth of July trading after embracing reports of expansion in U.S. and Chinese manufacturing plus cheering the latest jobs report, notes Grumpy Editor. 

All seems rosy on the financial front. 

But one wonders why all the excitement when, as examples, the communist Chinese are bubbling along in manufacturing while the number of Americans 16 and older, who are not participating in the work force, hit a record 92.1 million last month. 

While a key focus in business reports was U.S. employers adding 288,000 workers to payrolls in June, the number of Americans without jobs and not actively seeking one --- the participation rate --- in the past four weeks is up 111,000 from April, points out Ali Meyer in a CNSNews.com report based on figures from the Bureau of Labor Statistics. 

Most news outlets were mum on the “without jobs” statistic. 

Although the unemployment rate drifted to 6.1 percent in June from 6.3 percent in April, the Bureau of Labor Statistics reported the labor force participation rate for Americans was 62.8 percent, matching a 36-year low, notes Meyer.

Meanwhile, business economics writer Tom Blumer, on the NewsBusters site yesterday in response to an Associated Press story highlighting the “humming” job market and the economy "finally showing the vigor that Americans have long awaited,” points out the AP piece never mentioned that the U.S. has shown “two straight months (April and May) of real declines in consumer purchases; the seasonally adjusted decline of 523,000 in full-time employment paired with an increase of 799,000 part-time jobs in June; April’s and May's trade imbalance coming in worse than March’s, which was already very high; shipments of durable goods barely budging in April and May; factory orders falling in May; or May’s flat construction spending.”

 

 

In case your favorite news outlets missed these…

IN THE ‘HUH?’ DEPARTMENT:  EEOC DECLARES SPEAKING ENGLISH ON JOB IS ‘DISCRIMINATION.’ Wisconsin Plastics, Inc., A Green Bay metal and plastic products manufacturer founded 42 years ago, is being sued by the federal Equal Employment Opportunity Commission for firing a group of Hispanic and Asian employees over their inability to speak English at work.  The EEOC claims the English-language requirement in a U.S. business constitutes “discrimination.”  Says Irene Garcia, of Judicial Watch:  “If you are a private company in the United States, you should be able to require your employees to speak English.”

 

MOBILE ADS SEEN SURPASSING PRINT, RADIO THIS YEAR.  Adweek reports New York-based independent market research firm eMarketer sees mobile advertising accounting for 9.8 percent of total U. S. ads this year, surpassing newspapers (9.3 percent), magazines (8.4 percent) and radio (8.6 percent).

 

ANOTHER (YAWN) BYLINE STRIKE.  Journalists and columnists at Toronto’s Globe and Mail refuse to put their names on copy as negotiations between their union and the paper’s management neared a breaking point.  Other than relatives and friends of the staffers, few readers consider missing bylines something that causes loss of sleep.

 

UNIVERSITY OF COLORADO READIES MEDIA SCHOOL. Slated to debut on the Boulder campus in the fall next year is the College of Media, Communication and Information at the University of Colorado.

 

Drivers in Los Angeles are gearing up for another major gridlock in a chunk of the city as President Barack Obama is slated to visit the area again on July 23, speaking at a DNC fundraising dinner and reception. 

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.”

 

In case you missed these… 

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.

Romney’s China-made Jeep mention looms accurate

Just before the November election, Republican presidential candidate Mitt Romney was criticized for declaring Chrysler would be building Jeeps in China, recalls Grumpy Editor. 

Democrats grabbed space and air time citing Romney and his campaign ads on the Jeep action in China was misleading. 

Grumpy Editor last Nov. 6 pointed out the report stemmed from an Oct. 22 Bloomberg News story that mentioned Fiat (majority owner of Chrysler Group LLC) “plans to return Jeep output to China.” 

Auto writers last Wednesday reported Chrysler is in talks to build some of its Jeep vehicles in China where the auto company already sells several of the brand’s models.

 

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Nocturnal sideline raises editors' eyebrows

Not getting much national coverage: a newspaper reporter with an unusual sideline job (for a newsroom staffer). 

After being outed for her after-hours job as a stripper, reporter Sarah Tressler, who was fired by the Houston Chronicle where she was a society reporter, now works for the San Antonio Express-News. 

But her beat now is quite different. 

She covers crime. 

Her Express-News byliner on Friday dealt with the shooting of a convenience store owner. 

She was let go by the Chronicle for failing to inform supervisors of her nocturnal sideline as an exotic dancer. 

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In case you missed these… 

Wal-Mart Stores, starting Memorial Day, plans to hire 100,000 veterans during the next five years.  Some of the giant retailer’s critics called it a P.R. move.  Sure, it is.  And a fine P.R. gesture it is…On the firing side, the Star-Ledger, New Jersey’s largest newspaper, cut 34 employees, including 18 (or nearly 10 percent) of its newsroom staff.  Meanwhile, Reuters released some of the wire service’s veteran editors and reporters…On the hiring side, Fox News signed liberal former Congressman Dennis Kucinich (D., Ohio) as a paid contributor.  He joins daughter, Jackie Kucinich, in media.  She is a USA Today reporter covering politics…Nissan P.R. people should be happy with large color shots of the Nissan Resonance concept car appearing in separate sections of The Wall Street Journal on Wednesday…Public relations pioneer Daniel J. Edelman, who died Tuesday at 92, was noted for many slogans.  “Which twin has the Toni?” was long remembered.  Edelman also was behind spotlighting Morris the cat in television commercials for 9-Lives cat food.

 

Speaking of pets, Grumpy Editor likes the title of Seattle’s KIRO-FM’s weekend pet show that debuted yesterday:  “It’s Raining Cats and Dogs with Shawn Stewart.”  

Striking L.A.-Long Beach port clerks nix $195,000 package

Getting surprisingly little national coverage is the eight-day-old Los Angeles-Long Beach Harbor ports strike, triggered by about 800 union clerical workers who seek a hefty boost in their compensation package currently worth $165,000 a year, including wages, benefits and pension contributions, notes Grumpy Editor. 

With about 10,000 other union dock workers refusing to cross picket lines, seven of eight Port of Los Angeles shipping terminals are shut down while three of six adjacent Port of Long Beach terminals are closed. 

About 40 percent of the nation’s imported cargo containers pass through the dual ports.  

The shuttered terminals --- handling an estimated $1 billion of cargo daily --- are affecting the Southern California economy.  The stoppage also is delaying deliveries of goods destined to retailers for year-end holiday sales. 

Also affected are thousands of truck drivers, independent contractors who are paid per haul.

Employers mention the striking union members are the highest paid clerical workers in the U.S.   But that is not enough.  The union clerks are snubbing an offer of an 18 percent boost in a total compensation package worth $195,000 a year.

 

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UPDATE:  Just prior to the arrival of a federal mediator, the clerical workers agreed to a new contract with terminal operators last night.  Details were not disclosed.  Union members were returning to work today.

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Harry Reid's 'cliff' remarks trigger drop in stock market

Business writers and editors now have to keep a close ear on what Senate majority leader Harry Reid (D., Nev.) says, after his downbeat "fiscal cliff" remarks near the close of the stock market yesterday were credited with sending it to the lows of the day, observes Grumpy Editor.

The Dow Jones Industrial Average, after being in and out of positive territory, tumbled 89.24 points to 12878.13 at the close.

In connection with negotiations between Democrats and Republicans, Reid said, "They talked some happy talk about doing revenues, but we only have a couple weeks to get something done. So we have to get away from the happy talk and start talking about specific things.

"I'm extremely hopeful and I do not believe that the Republicans are going to allow us to go over the cliff," continued Reid, adding he hoped Republicans can agree to tax-rate increases and that Democrats were happy to deal with entitlements.

The tax-rate dispute is the central obstacle to an agreement that would prevent the U.S. from plunging off the fiscal cliff, a convergence of an estimated $600 billion in tax increases and spending cuts.

With key financial matters, media focus on comments by Ben Bernanke, Federal Reserve chairman, at speeches and especially after Federal Open Market Committee (FOMC) meetings.

Bernanke's messages, after being digested, often send the stock market south.

But now, Reid will probably have more business writers at his press conferences.

Frosty Florida forecasts send orange juice futures higher

Long-range weather forecasts pointing to a possible damaging freeze in Florida’s citrus-growing areas triggered a jump in orange juice futures, notes Grumpy Editor. 

This, naturally, makes headlines in some publications.

While some folks cope with fuzzy weather forecasts two or three days ahead, speculators are betting that frost damage will affect orange juice output during the winter --- one to three months ahead. 

Orange juice futures for January, after surging 8.6 percent last week, yesterday moved up another 4.2 percent.

The National Oceanic and Atmospheric Administration (NOAA) forecasts below normal temperatures for south Florida from next month to February. 

A private forecaster also indicates “a higher than average probability of a damaging freeze” in Florida citrus areas this winter. 

Predictions of freezing weather in January this year sent orange juice futures higher. 

But, in the end, no crop damage was reported. 

Oranges usually require temperatures dropping to the mid-20s before incurring major damage to large branches and fruit. 

Jeeps to China stemmed from print report, not Romney

In recent days leading up to today’s national election, media (extending to MSNBC this afternoon) and Democrats have been emphasizing Mitt Romney campaign’s “misleading” ads mentioning production of Jeeps --- one of the world’s most famous U.S. vehicles dating back to their debut in World War II --- would move to China, notes Grumpy Editor. 

They cite the ads as the Romney campaign’s efforts to undercut President Barack Obama’s support for the auto industry. 

Jeeps --- produced by Chrysler Group LLC, now majority owned by Italian car manufacturer Fiat --- currently are produced at assembly plants in Michigan, Illinois and Ohio. 

What media are overlooking is that the China rumble started with one of their own --- Bloomberg News.

This afternoon with Martin Bashir's segment on MSNBC, discussion centered on the on-screen headline:  Romney's "Jeep" ad may have backfired with Ohio voters.

An Oct. 22 Bloomberg story reports Fiat “plans to return Jeep output to China and may eventually make all of its models in that country, according to the head of both automakers’ operations in the region.”

It adds,”Fiat is in ‘very detailed conversations’ with its Chinese partner, Guangzhou Automobile Group Co., about resuming Jeep production in China.

In pre-Fiat days, some Jeep models were manufactured for distribution in that country.

Three days after the Bloomberg story, Romney, at a Defiance, Ohio, rally on Oct. 25, tells supporters, “I saw a story today that one of the great manufacturers in this state, Jeep, now owned by the Italians, is thinking of moving all production to China.  I will fight for every good job in America, I’m going to fight to make sure trade is fair.” 

Soon after, a Chrysler spokesman declares, “The take has given birth to a number of stories making readers believe that Chrysler plans to shift all Jeep production to China from North America, and therefore idle assembly lines and U.S. workforce.” 

Five days later, Chrysler’s chief executive strongly refutes claims that production of Jeeps would shift to China.