Good Grief: AP Report on Car Sales Says Buyers Were 'Giddy'

March 2nd, 2016 2:45 PM
To believe what the Associated Press's Tom Krisher and Dee-Ann Durbin wrote yesterday about February's auto sales, you have to believe that last month's car buyers were either: "a) affected with vertigo; dizzy"; or b) "frivolous and lighthearted; impulsive; flighty." That's because they claimed that in February, "consumers - giddy from Super Bowl ads -…

The Business Press's Theme After the Markets Plunge Again: The Weather

February 3rd, 2014 11:53 PM
After opening the day at about the same level as Friday's close, the three major U.S. stock indices fell by over 2 percent Monday (DJIA, -2.08%; S&P 500, -2.28%; NASDAQ, -2.61%). About half of the rout took place in the first 30 minutes after the 10:00 a.m. release of two reports, one on manufacturing activity and the other on construction spending. The former, from the Institute for…

AP Writers' Headline and Intro Nearly Go Into Euphoria Over Nominal Ye

March 4th, 2013 11:55 PM
Readers here can attempt to fill in the blank, and will get to the the correct answer after the jump. In their coverage of U.S. vehicle sales in February, Tom Krisher and Dee-Ann Durbin at the Associated press, aka the Administration's Press, wrote the following in an item headlied "US AUTO SALES POWER AHEAD IN FEBRUARY": "Americans want new cars and trucks, and they're…

Not News: The Flat Big 3 and GM's (Election-Driven?) Channel-Stuffing

December 4th, 2012 5:46 PM
While it's not fair to criticize the press's coverage of November's vehicle sales as unfair or not balanced, it would be more than fair to say that the press is either ignoring or minimizing the impact of two important influences which have been at work all year. The first is the continued loss of combined market share at the industry's two US-headquartered makers, General…

AP Report on 'Disappointing' Car Sales Partially Blames Debt-Ceiling D

August 2nd, 2011 11:37 PM
Did you know that car buyers in July took "worries" over the debt-ceiling debate in Washington into account when they decided to buy -- or apparently decided not to buy? Neither did I. But Dee-Ann Durbin and Tom Krisher rolled out that excuse this evening as one factor explaining why July's car sales were "disappointing," and then appeared to stuff those words into the…

Zero Hedge, Kaus Note GM 'Channel Stuffing' Ahead of and After IPO; Pr

December 7th, 2010 1:30 PM
A few weeks ago, just before GM's initial public offering went to the market (at the Washington Examiner; at BizzyBlog), I noted that Multi-Government/General Motors had spent the past several months shipping more cars than its dealers were selling, to the point where dealer stocks represented an unusually high number of days of dealers' sales. GM's December 1 press…

Psst! Ford Cuts GM's Lead in Half in Sept.; GM Completes Acquisition o

October 1st, 2010 11:06 PM
Government/General Motors saw its total vehicle sales fall in September to 173,031 from 185,105 in August. At the same time, Ford's sales increased from to 157,327 to 160,375. Thus, what was an almost 28,000-vehicle lead for GM in August shrank by more than half to less than 13,000 in September. No one has a crystal ball, of course, but if GM falls and Ford surges by similar amounts in October,…

Bad News Out of GM Is Not News at AP

September 2nd, 2010 10:27 PM
The news out of Government/General Motors during the past couple of days hasn't been particularly good. First, August sales results were disappointing. Second, it become known today that GM will attempt to go public on November 18, a later than originally hoped post-election date chosen to hopefully allow for another reported quarterly profit to boost investors' appetite for its shares. As so…

AP Revises Reporting on Government Pressure to Rush GM's Planned IPO

August 12th, 2010 7:21 PM
Unplanned but necessary "improvements," or induced corrections? I'll report; readers can decide. My early afternoon post at my home blog dealt with Government/General Motors' profitability and CEO Ed Whitacre's "coincidental" step-down from his CEO position. That post originally noted two things that seemed problematic in the Associated Press's reporting about the company…

As GM Plans IPO, AP Finally Makes Prominent Reference to Drivers' 'Res

August 7th, 2010 11:21 AM
In what I believe is the first direct acknowledgment by the wire service of what so many have known for so long, the Associated Press's Tom Krisher wrote the following in an August 5 story about plans for an initial public offering by government-controlled General Motors (bolds are mine throughout this post): Ever since the Obama administration gave the automaker a $50 billion dollar survival…

Screw the Newbies: AP's Lament on Plight of New UAW Hires Ignores the

June 19th, 2010 12:06 AM
There several annoying aspects of today's Associated Press report on the plight of newly-hired employees at U.S. auto plants represented by the United Auto Workers. Mentioned by writers Dee-Ann Durbin and Tom Krisher, but not until their eleventh paragraph, is the fact that new workers, whose starting wage (mentioned in Paragraph 2) is "about half what veterans make under their current…

Shhh: Ford’s Worldwide Revenues Top GM’s for Full Year; AP Implies

April 7th, 2010 7:00 PM
Government/General Motors announced today that it lost $4.3 billion during the second half of 2009 (actually from July 10 through the end of the year). A further look at that result will come later after yours truly has time to digest GM's 10K Report to the Securities and Exchange Commission. What stood out even further for me about the announcement was GM's top line, i.e., global revenues. That…