Media Navel Gaze: February 6, 2012
THE WEEK UNPEELED
The weekend focus naturally was on MadonnaBowl, but the week saw a few arguably positive developments with the US jobless rate edging down to 8.3 percent in January from 8.5 percent in December for the fifth monthly decline in a row with non-farm payroll adding 243,000 jobs. That led to a stock-market rally, pushing the Dow to its highest level since May 2008, closing Friday at 12,862 (Arguable is fair because the employment report does not necessarily mean the job picture is positive).
- Positive deal news last week as well with Glencore and Xstrata, both of Switzerland, are in talks to merge to form an $80-billion commodities powerhouse;
- Facebook filed its S1 en route to going public, launching talk of billion dollar deals;
- In the PR disaster camp and in an example how social media camps can quickly own an issue, the Susan G. Komen for the Cure Foundation reversed its decision to cut funds to Planned Parenthood after a huge outcry from lawmakers and citizens on Twitter, Facebook, Tumblr and elsewhere;
- AMR, the parent of American Airlines, said it would cut 13,000 jobs and pensions;
- Mitt Romney got mean and won Florida:
- News International is expected to return to the UK’s Sunday paper market with the launch of a new paper, The Sun on Sunday. Its previous Sunday publication, the News of the World, was closed in the wake of the phone-hacking scandal;
- Stephen Hester, chief executive of the Royal Bank of Scotland, caved in to intense political pressure and waived his £963,000 annual bonus in a week where there was intense scrutiny on banker bonuses and was stripped of his knighthood title; and
- Lady Gaga is apparently buying a place in London. She is rumored to have bought a lavish pad in Fitzrovia. Fitzrovia is known for its friendly, villagey atmosphere and bohemian vibe.