Media Navel Gaze: March 28, 2011
The Week Unpeeled
The headlines last week focused mostly on the Middle East with NATO forces agreeing to assume control of enforcing a no-fly zone over Libya, while tensions flared in Syria, Yemen and Bahrain. (Interesting note over the weekend in USA Today and news programs that Obama's State of the Union address, not too long ago, focused on domestic issues, way before the Middle East blow up, Japan crisis and collective bargaining talks, issues that now dominate the news.) Elsewhere:
- Japan news focused on updates of the Fukushima Daiichi nuclear plant and business impact on the world supply chain from reduced Japanese production;
- AT&T announced plans to buy T-Mobile USA from Deutsche Telekom for $39 billion the old-fashioned way: surprise press conference on a Sunday for Monday splash;
- Canada's ruling party was toppled by the opposition;
- Media outlets, traditional and otherwise, posted glowing and well-deserved tributes to Elizabeth Taylor, with a focus not only on her beauty, marriages and acting but her humanitarian heart and achievements (one of the best quotes, as quoted by The New York Times, "She was irresistible mayhem," Joel Rosenthal, jeweler and friend;
- Geraldine A. Ferraro, former New York congressman and one-time vice-president candidate, died;
- The Final Four surprised most; and
- The Dow rose 3.1 percent for the week, ending Friday at 12,220.
OMG in the OED
Although well reported and discussed, it's worth noting that the Oxford English Dictionary has "admitted"Â OMG, LOL and FYI into its next edition, kind of the hall of fame for words. What makes it worth repeating that FYI is just now being included into the OED, an acronym that has been around for a long time. To be grouped with OMG and LOL illustrates the tremendous influence social media has not even on your BFFs but good old vernacular found in dusty, old dictionaries. BTW, muffin top also now legit.
Fed As Blogger
The New York Federal Reserve has jumped into the social-media pool, launching a blog last week called Liberty Street Economics. It's objective is to explain high-brow research to a broader audience (LMFOA). One of its first entries was "Have Consumers Been Deleveraging?" Comments are welcome.