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Media Navel Gaze: September 24, 2012

Mark Kollar  Follow

The Week Unpeeled

Campaign news continued to take hold of the headlines with Republican candidate Mitt Romney finally releasing tax returns (20 years of them), with his effective tax rate for 2011 at 14.1 percent, a level actually higher than he was legally required to pay because of how he accounted for charitable contributions.  Opponents will not be charitable, however, in the 2011 level.


  • The Dow ended lower for the week (but just down 0.1 percent although its first decline for the month) to close Friday at 13,579;
  • Sotheby’s will become the first foreign firm to sell art in China, besting rival Christie’s;
  • The BAE/EADs merger deal seemed to move closer to reality with UK PM David Cameron blessing the deal as a win for the UK economy;
  • The fallout from the anti-Muslim film refused to abate as further protests broke out and Western embassies continued to come under siege;
  • Rupert Murdoch scored a victory with UK regulators concluding that his BSkyb was “fit and proper” for a broadcast license following controversy surrounding News Corp.’s phone-hacking scandal;
  • UK government borrowing rose to record highs in August as official figures showed the deficit for the first five months of the financial year were running at more than 25pc above target;
  • Debate and controversy surrounding the publication of the topless photos of the Duchess of Cambridge Kate Middleton continued after it emerged that more than 200 pictures were taken of her. The photographer who took the pictures is now in hiding as the Royal Family have asked French prosecutors to bring criminal charges against her; and
  • Apple’s launch of the latest model of the iPhone was marred by criticism around the new maps app, which has been described as “dangerously misleading.” End of Story

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