Media Navel-Gazing: April 18, 2011
Amid budget headlines, an increase in the crisis level at the Daiichi nuclear plant to Chernobyl levels (translation: serious levels of radioactive materials emitted: Interesting column, btw, from Tyler Brule in the Financial Times over the weekend about the mood of Japan right now - getting back to normal and a note that foreigners who fled post earthquake are called "flyjin," a reference to "gaijin" for foreigner, you gotta love disaster humor) and a federal jury finding Barry Bonds guilty of obstruction of justice, news seemed to focus on journalists themselves: Katie Couric made the publicity rounds, hinting at a life of syndication post CBS; The New York Times showcased Scott Pelley as the next in line for the anchor job at "60 Minutes"; and Sidney Harman, the new owner of Newsweek, died at 92 (amazing obit, by the way -- the guy was a true Renaissance man, from science and technology to jazz to education to civil rights, worth a Google search to read about a life in full). Elsewhere:
- China posted its first quarterly trade deficit in seven years, suggesting growth may be weakening a bit;
- The NYSE requested a bid from Nasdaq, meaning the fight continues;
- The Winklevoss twins must accept their $20 million in cash and $45 million Facebook stock from their earlier settlement and courts declared case closed, meaning the fight is over;
- All My Kids will at last say goodbye in September;
- The Flip video camera flopped, once popular but nowhere near the staying power of children from Pine Valley; and
- The Dow ended the week slightly lower, pressured by rising commodities (probably another reason for the China trade deficit) and a few weaker-than-expected earnings report, settling at 12,341.