The Good, the Bad & the Ugly
NYT documents rising protectionism in Europe; ABC ignores money motive in Ariz. speed cameras; CNN ‘raises questions’ about legal tax moves, alumni donation by energy investor.

March 1, 2006

     The New York Times shifts lanes from last week’s Bad with a Business Day story on protectionism threatening economic growth in the European Union. The Business & Media Institute cites Miguel Marquez of ABC News for speeding through his traffic camera story on the left side of the road. And CNN’s Andy Serwer is pulled over for attacking an investor for legal tax shelters a few months after advising viewers how to avoid taxes.

The Good
     “Protectionism remains the major threat to global growth,” The New York Times’s Heather Timmons quoted economist Lorenzo Codogno in her February 28 article, “Nations Rebuild Barriers to Deals.” Timmons reported on growing threats to free trade in European Union countries as politicians milk fears of foreign ownership for political gain, even though economists believe such moves are harmful in the long run.

The Bad
     The media are frequently cynical about the private sector’s profit motive, but when it comes to government schemes to rake in more cash, the same skepticism often doesn’t kick in. That was the case on the February 22 “World News Tonight” as ABC reporter Miguel Marquez portrayed highway speed cameras in Scottsdale, Ariz., as a tool to promote highway safety while ignoring how the cameras have proven a coveted cash cow to local governments. Marquez also left out information The Arizona Republic reported: Scottsdale is zealously fighting pending legislation in the state House which would gradually curtail a program that gives large cities a significant portion of speeding camera revenue.

The Ugly
     When the media say “some” unidentified people or unnamed “critics” are questioning something – it means the media are questioning it. That was the case when the otherwise unremarkable business dealings (including tax breaks) of investor andBusiness & Media Institute benefactor Boone Pickens were criticized by Fortune magazine’s Andy Serwer on the February 24 edition of CNN’s “American Morning.” What’s more, Serwer held Pickens to a different standard than other taxpayers. On the Dec. 26, 2005, edition of the CNN morning show, he had advised viewers on avoiding taxes.

The Good, the Bad & the Ugly tracks the best and worst media coverage of business and economics. Readers are invited to submit suggestions or news tips to staff writer Ken Shepherd at kshepherd@mediaresearch.org.