Tag Archives: News Corp
For a complete list of Murdoch’s extensive News Corporation holdings, read the Columbia Journalism Review, ‘Who Owns What? here.
News Corp. Suffers Staggering $6.4 Billion Loss
Ryan Nakashima, Huffington Post, Feb. 5, 2009.
The Harder They Fall
What a Hoot: As Keith Olbermann reported Wednesday night, perpetually-insane Minnesota comediatrix Rep. Michele Bachmann (R-Daft) brought the funny the other day when she took to the House floor to condemn Franklin D. Roosevelt and the Dems for the ‘Hoot-Smalley Act’ of the Great Depression era. While you can never be sure when dealing with a dingbat like Bachmann, who apparently stole her blank eyeballs from a crazy doll in “Bride of Chucky“, she probably meant the Smoot-Hawley Tariff Act‘ that was sponsored by two Republicans, and signed into law by Republican President Herbert Hoover in 1930. In reality, FDR campaigned against the act in 1932, and a Dem majority in Congress effectively repealed Smoot-Hawley in 1934 with the Reciprocal Trade Agreements Act, but in Michele’s loopy-dumb, wish-I-had-a-brain, far-right universe facts are a liberal, commie plot invented by the Devil to trip up those patriotically lying in the name of Jesus. If you’re a sane Republican (okay, that would be confined to ex-McCain manager Steve Schmidt and Sen. Olympia Snowe) you know that Bachmann’s Sixth District is already in the ‘D’ column in 2010 (she nearly lost to an unknown children’s book character named Elwyn Tinklenberg in ’08), and that you must find a legal means to (a) shut this woman up before she further damages what’s left of your party and (b) prevent her from running for president or vice president in 2012. (The vision of a ‘Palin-Bachmann 2012’ ticket privately induces dyspeptic nightmares of an LBJ/Goldwater electoral slaughter among GOP bigwigs.) Of course, it may be too late the GOP brand is so tainted that if you jettisoned all of the dotty Dittoheads, nattering neocons, tone-deaf teabaggers, putrid Palinites, raging racists, Savage Nation neo-Nazis, fatuous Freepers, flaming fully-automatic gun nuts and kinky religious kooks, you could assemble what’s left of the party in a Washington hotel ballroom with space to spare for a trained elephant act. (For more on this, read the last two items in this article.)
He’s Good Enough, He’s Smart Enough and Doggone It, the People Liked Him! Speaking of Minnesota, the drab electoral Death March of Numb Norm Coleman, the Republican Sore Loser, received a little spark of life thanks to the wily minds in Al Franken’s
The Dirty Half-Dozen: Exposing Some Recent Right-Wing Fairy Tales and Deceptions
1. Myth: Rupert Murdoch and his News Corporation media possessions, The Wall Street Journal and Fox News, are the only national media outlets making money and increasing audience right now. Truth: Murdoch’s News Corp. is losing money hand over fist, $6.4 billion in the last two quarters, and cutting staff as the circulation of the WSJ and ratings for Fox News decline. Proof: Here’s an excerpt from an AP report:
“News Corp., the global media giant controlled by Rupert Murdoch, said Thursday it lost $6.4 billion in its most recent quarter because of a massive write-down in the value of its assets.
“The New York-based company, which owns The Wall Street Journal and the Fox broadcast network, also forecast a 30 percent drop in operating profits for the fiscal year to June from a year ago, when it earned $5.13 billion.” […]
“News Corp. also said it had cut 800 positions across its Fox properties, including the 20th Century Fox movie studio, in moves that it expected to save $400 million a year. The Wall Street Journal said Thursday it is cutting about two dozen newsroom positions.”
— Ryan Nakashima, AP Business Writer, “News Corp. loses $6.4 billion in 2Q,” Feb. 5, 2009.
2. Myth: “Government jobs don’t stimulate the economy.” Recently Sen. Tom Coburn (R-NotOK) was promoting this bit of balderdash on MSNBC, but I’ve heard and read it elsewhere in the right-wing media as well. Truth: This is nonsense from the days of Herbert Hoover. Proof: Under Franklin D. Roosevelt such government employment programs as the WPA and CCC reduced unemployment dramatically during the Great Depression and improved the economy, as much as many neocon economists are desperately trying to rewrite history to reflect the opposite. Just like everyone else, government employees pay taxes and buy things houses, cars, food, clothes and appliances — that stimulate the economy.
3. Myth: Rush Limbaugh never actually said about President Obama, “I hope he fails.” Truth: Yes, he did and I heard it. Proof: Here’s the audio clip. He plainly says he was asked for quote about Obama and replied, “I hope he fails.”
4. Myth: “Tax cuts are the best way to improve the economy.” Truth: No, they aren’t. Proof: The last eight years of tax cuts under Bush.
5. Myth: “Free market capitalism will regulate itself.” Truth: You’re crazy. It’s like saying a basket of vipers will regulate itself into a litter of puppies. Proof: The economic collapse engendered by the ‘hands-off’ policies of Bush as well as bankers, Wall Street, automakers and other large corporations begging for bailouts to avoid bankruptcy. Then there’s Bernie Madoff, Enron, and all of the other members of the Corrupt Bastards Club, with the latest outrageous entry being the Peanut Corporation of America, who knowingly sold salmonella-tainted nuts to poor kids enrolled in school free-lunch programs while Bush’s FDA inspectors slept on the job. (Maybe they should have tried cake instead.)
6. Myth: “Bill O’Reilly and Fox News never really got anything wrong.” Truth: Yes, they have, and the list is as long as your arm. Proof: Here are some highlights and a link:
Reviewing the accuracy of Fox News and O’Reilly over the past eight years: