Fox News Is Heavily Invested In A Bear Market Rally

From March 10, 2009 to March 26, 2009, the Dow Jones has advanced 1,377 points. That’s a 21% increase in 16 days – a feat that has not been recorded in modern stock market history. Yet despite the right-wing howling over weak market performance since President Obama’s inauguration two months ago, there has been no subsequent praise for the more positive turn taking place. To the contrary, the right’s biggest megaphone is broadcasting failure on a daily basis. These are all recent quotes from Fox News:

  • Sheppard Smith: We’ve been in what I guess a lot of people figure is a bear market rally, though nobody really knows, it sort of feels like a bear market rally to most of the experts. I don’t know. But that’s what they’re saying.
  • Tobin Smith: By definition, this is a bear market rally.
  • Damon Vickers: We could have a rally that could take us up to 8,000. It wouldn’t change the fact that we were still in a bear market and that the trend was still down.
  • Peter McKay: The stock market bear market rally resumed on Tuesday.
  • Gary B. Smith: My primary concern is that the markets rose straight up this past week. Often, this is what we see in a bear market rally.
  • Neil Cavuto: What if, playing the other side of that coin, the market is telling us something of substance here, and that this does represent more than just that presumed – presumed bear market rally?

Note to Cavuto: You and your network are the biggest promoters of the bear market presumptions. When Obama spoke gloomily about very real dark days for the economy, Fox berated him for his negativity and implied that such talk would lead to even worse times. Now that there has been bona fide cause for optimism, it is Fox who is gloomy and negative. This is really just their way of joining in with the crowd that is hoping for Obama to fail. Fox News is heavily invested in failure.

Neil Cavuto Admits He Is An Obnoxious Jerk

For some time, I’ve been meaning to write about the odious on-air personality of Neil Cavuto. While people focus much of their attention on gargantuan egomaniacs like Bill O’Reilly, and Sean Hannity, Cavuto is every bit their equal as a dishonest and unctuous jackass. But while I have been mulling over the best way to illustrate the repugnance of this pundit, Cavuto has saved me the trouble by proudly confessing his character flaws.

Last Friday Cavuto closed his program with a segment that featured letters from viewers complaining about his proclivity for interrupting. This annoying behavior is exhibited so frequently and conspicuously that I considered creating a new drinking game that called for a shot each time Cavuto interrupted someone. However, I immediately abandoned the idea because I didn’t want to be responsible for thousands of deaths by alcohol poisoning.

It seems that it was not just me that noticed Cavuto’s inability to keep his mouth shut after asking a question. His viewers must have written in in such numbers that he was forced to address the matter on air. And in a typical display of pundit Narcissism, Cavuto not only defended his incivility, he praised himself for it. He actually believes his impudence is performing a public service. How else could he say…

“God knows you’ve heard the stump speech so I demand they get off the stump. Sure, it jolts them. And clearly, you. But I am out not to be mean. I am out simply to get answers.”

Cavuto’s method of getting answers is to provide them himself. His guests become superfluous as he obviously prefers his own answers to the ones a guest might offer. His contention that he is merely attempting to short circuit a stump speech is plainly false. He doesn’t even give his guest enough time to discern whether or not the answer is substantive. By the time the guest has uttered, “Well Neil, the reason for that is…” Cavuto has already cut him off. His interruptions never compel a guest to be more responsive or clear. In fact, he interrupts almost exclusively to argue with the guest. That’s not seeking clarity, it’s browbeating. He is forcing his opinions down the throats of his viewers, and many of them resent it:

Email from Kevin: “News flash, pumpkin head, it’s not about you. It’s about the guest. Listen, you might learn. Doubt it, but you might.”

Sorry Kevin, but Cavuto is not going to listen. He has thrown down the gauntlet and refuses to waste his precious time allowing people with views different than his own to get a word in edgewise. As he said himself: “Not here. Not me. Not ever.” And although he shamelessly spews rightist propaganda, he will be the sole arbiter of what constitutes a talking point from the other side. He will nip it in the bud for fear that an honest argument or a good idea might actually make it through to his unsuspecting audience.

Along with hosting a daily program on Fox News that is ostensibly about the economy, he is the managing editor of the Fox Business Network. In this role he reports the business news of the day and conducts interviews on both financial and political subjects. His brazen partisanship belies the oft repeated excuse of Fox News CEO, Roger Ailes, that it is only the primetime shows that dabble in opinion. That nonsense simply can’t account for the self-righteous opining of Glenn Beck, Steve Doocy, Bill Sammon, Megyn Kelly, et al, all day long.

At times like these, when millions of Americans are so anxious about their jobs, homes, retirement, etc., financial news attracts a greater measure of interest than usual. The last thing any of us needs is another bloviating bully dispensing bullshit packaged as news. But that’s all we get from Fox, and Neil Cavuto is the very model of a modern major malfunction in the media.

Starve The Beast: The Wrath Of The Right

We are now a month into the administration of Barack Obama. It’s a month that seems to have been packed with a year’s worth of activity. From the first day in office when Obama issued executive orders permitting more openness with presidential records and Freedom of Information Act requests, to announcements of major policy agendas for an economy on life support and the still soul-sapping wars in Iraq and Afghanistan, the White House has been busy, to say the least.

At the same time, they have had to deal with the opposition of an increasingly obstructionist Republican minority and a media that is overtly hostile. Last year, prior to the election, Fox News was already fortifying its right flank. New multimillion dollar contracts were handed out to Roger Ailes, Sean Hannity and Bill O’Reilly. Hannity’s show shed the dead weight of alleged liberal Alan Colmes. Glenn Beck was brought in to shore up the daytime crowd. Neil Cavuto, a bully who is every bit as obnoxious as O’Reilly poisons the economic news, and he is also managing editor of Murdoch’s Fox Business News. And just this week Bill Sammon, author of a shelf full of bitterly partisan books, was promoted to VP and Washington Editor for the network.

The result is a full court press of some of the dirtiest political assaults ever waged by what is advertised as a “news” network. Fox News is shamelessly pushing a campaign to characterize Obama as a Socialist – a committed opponent of America and its values – from 6:00 am with the crew of Fox & Friends, to after midnight with broadcasts and repeats of their primetime neanderthal shoutcasters. They get their marching orders directly from Rupert Murdoch who last September said that…

“[Obama’s] policy is really very, very naive, old fashioned, 1960’s socialist.”

Even worse, these rightist dissidents come very close to openly advocating acts of violence and armed rebellion. Glenn Beck’s ominously titled “War Room” was an hour long descent into fear mongering that posited nothing short of the decline of western civilization. The upshot of this Terror Hour is that America’s days are numbered, so you had better start stockpiling guns, hoarding food and water, converting your dollars to gold, and barricading your secluded compound in the Wyoming wilderness (move over Ted Kaczynski). And, of course, it’s all Obama’s fault.

Another result of this Apocalyptic programming surge is higher ratings for Fox News. The core primetime schedule on Fox has enjoyed a rare uptick in audience growth. For the past three years, Fox, while number one in total audience, has been the slowest growing network in cable news. CNN and MSNBC produced consistently stronger growth. Particularly MSNBC, which was once a struggling also-ran, but which now challenges Fox’s powerhouses and routinely beats CNN. But the numbers for this February are another story.

Total Day: FNC +29%, MSNBC +17%, CNN +2%.
Primetime: FNC +28%, MSNBC +23%, CNN -30%.

What accounts for the turnaround in Fox’s fortunes? Well, first of all, they are benefiting from their previous slack performance. In other words, they were able to record higher comparative rates of growth because their prior year numbers were held down due to some rather unique circumstances. To understand the current numbers, you need to remember what was going on a year ago.

In February of 2008 the Democratic Party was in the middle of a hotly contested presidential primary. Early in the month it was already apparent that McCain would win his Party’s nomination. Consequently, audiences viewing campaign news were disproportionately composed of Democrats. Amongst the biggest draws were the televised debates. Democratic candidates, you may recall, had forsworn Fox News as a host for their debates. So the two Democratic debates held in February 2008 were carried by CNN and MSNBC, and both drew audiences many times greater than their regularly scheduled programming. Democrats also shunned Fox for other TV appearances and interviews. It had gotten so bad that Chris Wallace, host of Fox News Sunday, made a veiled threat in December of 2007:

“I think the Democrats are damn fools [for] not coming on Fox News.”

We know the problem still existed in March of 2008 because that’s when Wallace debuted his Obama Watch: a clock that would record how long before Obama appeared on Wallace’s show. It was a childish prank on Wallace’s part, but it clearly showed that the Democratic embargo of Fox News was having a real impact. For CNN and MSNBC, who had the guests and the event programming that appealed to the most motivated news consumers, it meant higher ratings. Fox, on the other hand, had depressed numbers because their most loyal audience – Republicans – already had a candidate, so there was no campaign drama to keep them tuned in. Comparing those numbers to February 2009 would, therefore, be favorable to Fox by producing a greater percent difference.

So some of the good news for Fox was really just a matter of perception. But that’s not the whole story. They are actually having a pretty good year, particularly post-inauguration. All the networks have suffered some falloff from January, but Fox has retained more of their recent gains than have their competitors. I can only offer some informed speculation as to why that would be.

First, Fox has more new programming that may be piquing the interests of their viewers. The new programs include a retooled Hannity, minus Colmes, and Glenn Beck’s Acute Paranoia Revue. Beck has found his home at Fox. His ratings have significantly increased over what he had at HLN, and he has also improved the time period he fills on Fox. As for Hannity, dumping Colmes was obviously popular amongst the Foxian pod people. It’s just that much less non-approved, pseudo-liberal noise they have to sit through.

Secondly, by heating up the aggressive tone, Fox has fashioned a hearth around which despondent conservatives can huddle. In 2006 they suffered the loss of both houses of congress. Now they have lost the presidency as well – and to what they view as an unpatriotic, Muslim, elitist, intent on driving the nation to Socialism in a Toyota hybrid. So now they congregate in the warm red glow of the Fox News logo that provides them the comfort that comes from numbing propaganda and the righteous smiting of perceived enemies.

This doubling down on rancor has had mixed results for Fox. While it endeared them to their base, and those they could frighten into submission, it also cost them dearly on a broader financial scale. The stock of Fox News parent, News Corp, is down 70% for the last 52 weeks. To be sure, the economy, particularly for media companies, was difficult, to put it mildly. But News Corp competitors Time Warner, Disney, and even the Washington Post were only down in the 45-55% range. News Corp suffered its worst loss ever of over $6.4 billion. And going forward, they advised Wall Street that income will decline another 30% for fiscal 2009.

In examining the reasons that Fox would perform so much worse than similar enterprises, one would have to consider the possibility that people have become disgusted with the obvious one-sided manipulation and the non-stop, phony news alerts that are Fox’s shock in trade. But I believe that it would also be fair to conclude that the direct actions taken against Fox News by Democrats last year are at least partially responsible for Fox’s inordinately more severe decline. The ratings disparities year over year document the effect that a sustained campaign of snubbery can produce.

Starve The BeastWith the stepped up efforts of Fox to sling ever more buckets of mud, it is more imperative now than ever that Democrats act affirmatively in their best interests. They must resist the siren call of televised glory and begin to discriminate between those who are fair practitioners of journalism and those who seek only to engage in slander and slime. In two previous installments of my Starve The Beast series (part 1 / part 2), I described how complicity with Fox News is not merely a waste of time, but is demonstrably harmful. This is even more true today, as the evidence above illustrates. The message that Democrats and other progressives must take to heart with all deliberateness and determination is: STAY THE HELL OFF OF FOX NEWS! Since it hurts us when we appear and it hurts them when we don’t, the way forward is crystal clear. It makes absolutely no sense to lay down before lions who are determined to devour you.

Now, I don’t want to approach this from a purely negative standpoint. While constructing a united front in opposition to Fox News is an absolute necessity, there are some positive steps that can be taken as well. Other news organizations must be pressured to present a more balanced picture of current events. And, where possible, true liberal voices must gain access to the televised public square. Media Matters long ago documented the imbalance of conservatives and Republicans on the Sunday news programs. That ideological discrepancy has continued apace since Obama’s inauguration. Now it’s time to do something about it. It’s time to make a case for TV to offer a more equitable representation of liberal views – the views of the majority, the winners.

Political activism has always been shaped in part by access to polling. It is an irreplaceable asset for anyone managing a campaign for a candidate or an issue. Similarly, TV survey data is critical in analyzing media performance and prospects. This data is distinct from conventional polling. Remember, networks don’t care about the public. They care about a subset of the public that is attractive to their customers. And their customers are not viewers – they are advertisers. While there are many sources for political data, there are few for media data – and most of those are press releases from vested corporate interests. There is little that we can do with ratings data that has already been massaged to advantage one particular party.

If progressives want to have some influence on programming, they must be able to anchor their arguments with original research and facts. For this reason, it is no longer enough for sites like Media Matters or Talking Points Memo or Daily Kos or News Corpse to merely document right-wing media abuses. If we want to help shape the editorial direction of the Conventional Media, we have to offer authoritative presentations to map a path to bigger audiences and ratings victories. We need to speak to the needs of the news providers and give them a business case for adopting a truly balanced programming model. To do this we need access to the raw data that is at the heart of television marketing.

So who amongst the lefty netroots will step forward and subscribe to Nielsen Media Research broadcast and cable data? I’m going to rule out News Corpse because I can’t afford it. But I do have 14 years of experience in media research and would be willing to help produce analyses and presentations. Just as progressive authors and bloggers offer informed advice to advance political goals, we need to be able to make a persuasive, market-based case for the sort of programming reform that we want to see. We need to be able to show the networks that it is in their interest, financially and ethically, to develop programming that is honest and in keeping with the principles of an engaged and probing press. We need to be able to counter the false impressions relentlessly pushed by faux news enterprises that tout themselves as the popular voice of the nation. It seems that a day does not go by that Bill O’Reilly doesn’t boast about his ratings. The funny thing is that he also condemns the source of those ratings with the delusional paranoia that only he can muster:

“The bottom line on this is there may be some big-time cheating going on in the ratings system, and we hope the feds will investigate. Any fraud in the television rating system affects all Americans.”

So O’Reilly thinks that the system he so proudly cites for affirmation of his massive popularity, is also engaging in big-time cheating for the benefit of his foes. If he’s right, and Nielsen data is not to be trusted when they report that his competition is catching up, than why should we trust it when it reports his success. In truth, the only cheating going on is on the part of the self-promoting networks and the egomaniacal personalities they employ. It is their selective and misleading interpretations that are distorting the reality of viewer behavior.

Suffice it to say that we would be in a much better position to dispute the spin that’s being peddled if we had access to unfiltered Nielsen data. We could mine that data to develop solutions and strategies to present to news programmers. Then we may begin to have some influence over news programming, personalities, and content.

This is as important an endeavor for progressives as the strategies we promote for politicians. I would argue that it’s more important. Especially in a media environment where prominent news enterprises are openly fomenting a near-militaristic antagonism to our representatives and our values.

Neil Cavuto Cavorts With Cliff Claven And Plumber Joe

Today on Fox News Neil Cavuto, the managing editor of the Fox Business Network, brought in a couple of first string financial pros to discuss America’s economy and politics. The renown expert John Ratzenberger (formerly Cliff from TV’s Cheers) was there to provide his unique insight on world affairs. And even more exciting, Joe the Plumber Ignorant, Lying, Tax-Dodging, Opportunist, showed up to school us all on patriotism:

JOE: McCain has fought and bled for our country, and loves our country. There’s too many questions with Barack Obama and his loyalty to our country. And I question that greatly.

CAVUTO: Well, you’re not doubting that he’s a good American. Or you are?

JOE: Oh you know, his ideology is something that is completely different than what democracy stands for, so I had some question there. In my opinion.

Does the word “Dumbass” spring to mind. And I mean that for both Joe and Cavuto. Even though Cavuto nominally challenged Joe, the fact that he keeps inviting him on the show is enough to dismiss him, his program, and his network. Cavuto frequently hosts such unqualified mental pygmies as Ted Nugent, Jon Voight, and various Hooters waitresses.

This is the kind of credibility that Fox brings to business reporting. The close association between Fox News, the Republicans, and the Bush administration explains a lot. They share the same advisors. It’s no wonder our economy is in tatters.

O’Reilly, Hannity, And Beck: What Recession?

The economy continues to spiral downward in the U.S. and the world. Nearly a million Americans have lost their jobs just this year. Trillions of dollars in value have been lost in retirement and pension funds. Home foreclosures long ago surpassed all-time highs. Close to 50 million Americans have no health insurance. But why focus on the negative?

In some quarters there is good news and unreserved celebration. That’s because there is an unshakable bull market in Fox News Pundits (Or should I say bullshit market?). In just the past few weeks Bill O’Reilly signed a four year contract extension for more than $10 million annually. Sean Hannity re-signed a multimillion dollar per year contract for TV, plus another $20 million for his radio show. Glenn Beck will receive millions more for his new Fox hackfest. Neil Cavuto’s income leapt when he was promoted to managing editor of the Fox Business Network (the “Business-Friendly Business Network”) In addition, Mike Huckabee, Judith Miller, and Karl Rove, were all hired on as Fox contributors within the last year.

So when you hear the elitists at Fox dismiss the severity of this downturn, when you hear them say that things aren’t really so bad, remember that what they are really saying is that things aren’t really so bad for them. It’s easy for them to be stoic in the face of adversity when they are raking in more millions every year. Their mansions and limos and vacation villas are as glamorous as ever.

They have absolutely no sense of the loss or pain or sacrifice that the rest of us are suffering through. And yet they will continue to pretend to speak for us. They will push their phony arguments as fighting for the average Joe (Six-pack, Plumber, Blow, or whatever). They will soft-peddle the crisis and project blame on the lazy, and the irresponsible and, of course, on Barack Obama. Just minutes ago Cavuto did just that, saying that the markets were reacting to Obama’s comments on “spreading the wealth.” For confirmation, Cavuto then turned to well known financial experts Joe the Plumber and Ted Nugent. Seriously!?! That’s the sort of ludicrous financial analysis you can expect from Fox.

For the record, a little over a year ago Cavuto, disputed reports of the economy’s weakness saying that he “[didn’t] believe a word of it.” Bill O’Reilly, recently asserted that the market was tanking because traders were pricing in a presumed Obama victory in November. He also foolishly claims that the drop in the stock prices of GE and the New York Times affirms his positions opposing them. But the stock of Fox News’ parent company, News Corp., has fallen even farther than either of them, so whatever O’Reilly thinks is wrong with GE and the Times, it is even more wrong at Fox. Here’s the real reason for the market’s decline.

In the end, these disingenuous con men have no frame of reference for what ordinary Americans are experiencing. They only have their comforting wealth and their rightist agenda that is focused exclusively on enriching themselves and their friends. And anyone who believes that these impostors are advocating on their behalf is terminally naive.

Happy Birthday Fox Business Network

Today is the first anniversary of the debut of the Fox Business Network, Rupert Murdoch’s newest propaganda platform. Ratings for the network are still so low that, even after a year, Nielsen cannot certify their reliability and they are not published. When numbers were leaked earlier this year they revealed a pitiful performance that drew only 8,000 daytime viewers, and 20,000 in prime time. CNBC, by contrast, drew an average of 284,000 viewers during the day and 191,000 in prime time.

This hasn’t stopped Murdoch from pursuing his ambition for a business channel that would be…

“…more business-friendly than CNBC. That channel leap[s] on every scandal, or what they think is a scandal.”

Ironically, the network that was hatched to put a rosy hue on business news appears to have had the opposite effect on the financial world into which it was born. The week that FBN launched the Dow Jones was at an all-time high. Since then the Dow, which also became the property of Murdoch when he purchased it along with the Wall Street Journal, has plummeted 33%.

Is it mere coincidence that the markets went straight down immediately after having been touched by Murdoch’s bony, demon finger? The first week that FBN was on the air the Dow dropped over 500 points. That should have served as a warning of the devastation yet to come.

On July 13, 2007, FBN’s Managing Editor, Neil Cavuto, disputed reports of the economy’s weakness saying that he “[didn’t] believe a word of it.” Cavuto previously downplayed the significance of the credit crunch, saying that, because “this ‘meltdown’ affects roughly 4 percent of all mortgages out there” there wasn’t really any problem at all. He then blamed market declines on John Edwards, who was running a distant third in the Democratic primaries at the time, but apparently still had superhuman powers over the stock market.

Cavuto’s colleague, Bill O’Reilly, recently asserted that the market was tanking because traders were pricing in a presumed Obama victory in November. [For the record, the market has performed better during Democratic administrations than Republicans for the past 107 years. And investments accrue more under Democrats]. O’Reilly also has a spotty record of financial analysis. He lambasted General Electric’s CEO, Jeffrey Immelt, with whom O’Reilly is obsessed, saying that he didn’t know how Immelt kept his job after GE’s stock dropped 36%. But O’Reilly must not have noticed that News Corp., the parent of Fox News was itself down 38% – even worse than GE. Maybe he should be asking how Murdoch keeps his job.

So in honor of FBN’s first birthday, investors and news consumers should be aware that this is the sort of credibility you can expect from Fox News and FBN which calls itself: The Network You Can’t Afford To Miss. It’s more like: The Network You Can’t Afford To Watch.

Rupert Murdoch: True To Form

Last May News Corp CEO Rupert Murdoch attended the All Things Digital Conference and made a few headlines with his commentary on the presidential election:

[Murdoch] on Wednesday predicted a Democratic landslide in the U.S. presidential election against a gloomy economic backdrop over the next 18 months.”

That sort of talk had some folks wondering if the old fella was growing a soul. Could the uber-rightist media monarch be ever so slightly scooting over to the left? Asked directly whether he is supporting Barack Obama (like his daughter, Elisabeth) he said:

“I’m not backing anyone, but I want to meet Obama. I want to know if he’s going to walk the walk.”

Since then, Murdoch has met Obama. It should be noted, however, that on that occasion the purpose was primarily to persuade him to appear on Fox News. It was therefore imperative that he pour on the charm while appearing to be neutral. Subsequent to achieving his goal, Murdoch is now publicly displaying his expected preference for leader of the free world (other than himself), and it’s the Republican, John McCain:

Breaking down Murdoch’s reasons for supporting McCain, it seems to be primarily an anti-Obama decision as he never overtly praises McCain. Still it is perplexing given the facts. He says that Obama will:

  • “…give us a lot of inflation.” Never mind that inflation right now is at it’s highest level since 1991. At that time 17 years ago, Bush, Sr. was just wrapping up his term in office. Like father like son.
  • “…ruin our relationships with the rest of the world.” If that does not immediately invoke guffaws given the world’s perception of America under George W. Bush, then note this poll that shows that “Obama was favoured by a four-to-one margin across the 22,500 people polled in 22 countries.” 46% said that relations would improve with an Obama win, only 20% held that view for McCain. Those numbers parallel American’s attitudes as well (46% Obama/30% McCain).
  • “…find companies leaving this country.” As if they haven’t been leaving in droves throughout the Bush years. Forrester Research projects a loss of 1.2 million jobs to foreign soil for 2008, increasing to 3.4 million by 2015.

To an objective observer the facts support precisely the opposite conclusion to which Murdoch has arrived. Nevertheless, the septuagenarian media mogul hangs unto his opinion that it is Obama, and not the Bush/McCain cabal, that threatens the nation’s future. That’s evidence of just how confined he is by his partisan worldview. He goes even further to tar Obama with the crusty old conservative slander that…

[Obama’s] policy is really very, very naive, old fashioned, 1960’s socialist.”

Coming from an old fashioned, 1940’s fascist, I suppose we’ll need to take that with a pound or so of salt.

Anyone who might have thought that Murdoch’s remarks last May signaled a shift in his political ideology may now return to their senses. He is as much a right-wing propagandist as he ever was, and he isn’t shy about it either. This appearance on Neil Cavuto’s “Your World” is one of many that he has booked for himself. To underscore how peculiar that is, try to recall the last time that the CEOs of GE/NBC, Viacom/CBS, Disney/ABC, or Time Warner/CNN, appeared on their own news programs. They are rarely, if ever, guests, and certainly not even close to the frequency with which Murdoch pastes his face on his air.

This most recent booking appears to have been scheduled exclusively to disparage Obama just as the electoral momentum is shifting in his direction. The looming financial crisis has focused the campaign dialog back onto issues as opposed to personalities, and Murdoch wasn’t going to sit still for that. The trivialities and tabloidism that is Murdoch’s stock in trade just happens to advantage McCain, whose campaign relies on shallow griping about celebrities and lipstick. So he goes on Cavuto’s show, calls Obama a naive socialist, enumerates reasons to vote against him that are actually reasons to vote against McCain, and concludes the interview by plugging his new and struggling Fox Business Network.

That’s Rupert Murdoch in a nutshell: An arch-conservative, self-serving, greedy, monopolistic, liar. And always true to form.

Submission Accomplished: MSNBC Demotes Olbermann

Keith Olbermann is MSNBC’s hottest property. His ratings eclipse those of the rest of the lineup. So clearly he is a significant draw for an audience that MSNBC has been struggling to expand and they would reward him commensurate to his contribution.

Think again:

“MSNBC is removing Keith Olbermann and Chris Matthews as the anchors of live political events, bowing to growing criticism that they are too opinionated to be seen as neutral in the heat of the presidential campaign. “

This is another example of the media being so petrified of disapproval from right-wing critics that they act in opposition to their own interests. By effectively demoting their top talent, MSNBC is agreeing with critics that their coverage is slanted and that Olbermann is a journalistic liability. This action is remarkably stupid and short-sighted. Why would NBC want to denigrate their own reporting and insult their most popular program host? Apparently all is takes is a letter or two from the White House or the Republican National Committee to make NBC execs tremble.

To put this in perspective, try to imagine Fox News making a similar schedule adjustment in response to complaints from liberal sources. Obviously they get such complaints by the thousands on a daily basis. And not just from liberals, but from respected, independent journalistic institutions and professionals. Yet Brit Hume, Megyn Kelly, Neil Cavuto, etc. – not to mention Bill O’Reilly, and Sean Hannity – all have safe jobs and have never been chastised in the slightest for their brazen bias and partisan pandering.

What’s more, the contrast in tone between the left and right media is disturbing, to say the least. Liberals are accused primarily of partisanship and favoritism. But rightists are are guilty of far more hostile activity. Recall Fox News’ Liz Trotta who joked that Barack Obama should be assassinated along with Osama Bin Laden. And then there’s that continuous thread of racism that permeates Fox News. These ethical violations, however, are not sufficient to warrant corrective action on the part of the conservative press.

In addition to dissing Olbermann, muting an alternative perspective, and likely suppressing their ratings (and, thus, their income), NBC is also giving ammunition to their competitors, who will not praise this as a step toward neutral reporting, but cite it as evidence of bias. So MSNBC gains nothing from their capitulation. Fox News is already reporting on these events as having taken place due to MSNBC’s lack of neutrality. That Fox can even say that, without a hint of irony, demonstrates how low the media neutrality bar has sunk.

The timing of this announcement couldn’t be worse. With the party conventions over, the general election commencing formally, and debates coming soon, NBC has chosen to very publicly tarnish their own brand. This could only happen at a network that is faulted as being liberal by the entrenched media establishment. And yet, the myth that the media is liberal will persist despite all of the evidence to the contrary.

The real problem is that it is only the few liberal islands in the media sea that are punished for expressing their views. The monopolistic corporations who control the media, and their benefactors on the conservative side of the political spectrum, are the dictators of what the news audience will see and hear. They will always bend to the right and, sadly, cowards like those at NBC will choke the breadth of opinion from the airwaves to the point of suffocation.

The Fox Frame: Seven Dollar Gas

To the surprise of no one, Fox News has been promoting the notion that the rise in gas prices is the fault of Democrats. Neil Cavuto posited that very theory a couple of months ago in a segment subtly titled, “Democrats to Blame for High Gas Prices?” The introduction to the piece referenced the GOP talking point that current rates are the consequence of the “Pelosi Premium.”

$7.00 GasYesterday, the Fox business program “The Cost of Freedom” featured a segment that stretched even further to predict that Al Gore’s endorsement of Barack Obama would send gas prices soaring to seven dollars a gallon. Nothing in the broadcast explained how a political endorsement could have such a profound impact on the price of gas, but a lack of intelligent analysis never stopped Fox before.

In addition to misleading discussions and graphics, the Fox News Ticker often articulates the right-wing view that fuel costs only became a problem with the advent of the Democratic Congress. The problem for Fox is that, despite their best efforts, the availability of facts persists, and they contradict the Fox propaganda. Indeed, gas prices have increased 78% since January 2007, when the new Congress was sworn in. What the Fox Ticker does not tell you is that prices increased 54% from the Bush inauguration until the January 2007, and 174% throughout the Bush administration. Neither does it tell you that Republicans in Congress and the President, whose signature is required to pass legislation, have worked to stifle every Democratic proposal.

In case you didn’t know, you can correspond with the Fox News Ticker. So if you want to tell the Ticker off, write theticker@foxnews.com

Rupert Murdoch Predicts Obama Landslide

This week’s All Things Digital Conference brought Rupert Murdoch to the stage for a surprising interview that included his views on the economy, Barack Obama, and the 2008 election.

Reuters: “News Corp Chief Executive Rupert Murdoch on Wednesday predicted a Democratic landslide in the U.S. presidential election against a gloomy economic backdrop over the next 18 months.”

Murdoch referred to the current status of the nation’s electoral mood as an “Obama phenomenon” that is fueled by a weak economy. He believes that, while race will be factor, Obama has “totally overcome” any lasting impact from the issue. Asked whether he is supporting Obama (like his daughter, Elisabeth) he said:

“I’m not backing anyone, but I want to meet Obama. I want to know if he’s going to walk the walk.”

However, when asked if he had anything to do with the New York Post’s endorsement of Obama he said simply, “Yeah.”

As for John McCain, Murdoch, who called McCain a friend, contends that he “has a lot of problems” and will be hurt by his long tenure in Washington and his association with a party that is battling a “rising political tide” for Democrats.

The surprising thing about these remarks is the abundance of paradox that envelops them. If Murdoch is sincere (not something that can be assumed), then why does he allow his networks and newspapers to spew so much vile disinformation about Obama? The endorsement of the Post, it should be noted, was only for the Democratic primary, not the general election. And the content of the endorsement read more like an indictment. To those who would argue that Murdoch doesn’t meddle in the editorial affairs of his news operations, Murdoch has just openly declared that he does, at least with regard to the Post.

Murdoch also stated that the U.S. is “undoubtedly” in a recession that he predicts will last for up to 18 months. That is squarely at odds with the position of his new Fox Business Network that was founded in part to promote rosy economic scenarios. His managing editor, Neil Cavuto, is a persistent cheerleader for economic viewpoints that are blindingly sunny.

We’ll have to see where this all leads to in time. Will it have any impact on Fox News or other Murdoch assets? His recent conversion on the threat of global warming has not filtered through to his publications or broadcasts, must of which still ridicule the notion as a hoax. In the end, this may just be a strategic move to alleviate pressure from his critics. By making statements like these he can assert that he is a political independent. Meanwhile, his media empire can continue to hammer at Democrats and progressives in an effort to manipulate public opinion. Millions more will see Sean Hannity’s disparagements of Obama than will ever hear of these remarks by Murdoch.

Stay tuned.