Good, Bad, and Ugly

Reader reaction to Reuters news

Popular ad?


GM bondholders shun tender offer; bankruptcy nears

The event marks a critical disappointment for GM, the largest U.S. automaker and once considered the bellwether of U.S. manufacturing. A popular ad for the automaker once stated that “What’s good for General Motors, is good for the USA.”

I don’t think there ever was such an ad. This quote, or a version of it, was said in 1952 when the head of GM was testifying to become secretary of defense. Later this statement was often misquoted, suggesting that Wilson had said simply, “What’s good for General Motors is good for the country.”

Ed. N.

Several readers noticed this one. We did too, and we removed it from subsequent updates of the story: GBU Editor

REUTERS photo by Mike Cassese

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Very unfortunate typo…


BofA CEO: Economy bottoming, pay reform neededBank of America was among 19 big banks subjected to the teats.Subjected to the teats?Justin R.Yikes. We corrected it to say TESTS: GBU Editor

Bank of America Chief Executive Officer Kenneth Lewis speaks at the Boston College CEO club luncheon in Boston, Massachusetts March 12, 2009. Reuters/Brian Snyder

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The wrong tax?


Implications of Japan opposition leader quitting

Former party leader Katsuya Okada, often cited as a frontrunner, has in the past favoured a hike in the three percent sales tax to fund bulging social security costs, a move Ozawa had ruled out for now.

I’d like to report a factual error.  Your article mentions a ”hike in the three percent sales tax to fund bulging social security costs.”

Jobless numbers…


One in 10 Americans gets help from U.S. to buy food

The U.S. unemployment rate was 8.1 percent in February, the highest in 25 years. Weekly claims for jobless benefits totaled 669,000 last week, the highest in 26 years, the government said on Thursday.

Your report incorrectly states unemployment figures. It states, “Weekly claims for jobless benefits totaled 669,000 last week, the highest in 26 years, the government said on Thursday.” That figure is not the total weekly claims but only new, initial claims. Total number of claims is much, much higher than this figure.

Come what Mae?


Fox News’ Bill O’Reilly boycotting Sean Penn films

And the Barney Frank thing (in which O’Reilly called Frank a “coward” during an October debate over Fannie May and Freddie Mac). But I really wasn’t angry; I just needed to scold him because he was blaming everyone else, even though some of this economic mess is his fault.

It’s Fannie Mae not MAY!!!


Right. We corrected: GBU Editor

Daniel Mudd, former CEO of Fannie Mae, testifies at a House Oversight and Government Reform Committee hearing on Capitol Hill in Washington, December 9, 2008. REUTERS/Jason Reed

So it’s safer here?


SEC accuses Caribbean bank of $68 mln Ponzi scheme

“The defendants disguised their Ponzi scheme as a legitimate offshore investment and made promises about exuberant returns that were just too good to be true,” said Rose Romero, head of the SEC’s regional office in Fort Worth. “This case demonstrates that investors need to be especially cautious when placing money with entities that may be outside the reach of U.S. regulators.”

Who writes this stuff for you guys??? YOU ARE KIDDING RIGHT?????

Arthur V.

Several readers pointed out the rich irony of letting an official imply that money WITHIN the reach of U.S. regulators is somehow safe. They have a point: GBU Editor

Please get real…


Brazil stocks rise; real flat on housing plan, US

SAO PAULO, March 25 (Reuters) – Brazil’s stocks gained on Wednesday following the government’s announcement of a massive low-income housing plan and stronger than expected U.S. durable goods sales in February, while the currency traded sideways.

In the title… “real” flat? As opposed to “fake” flat? The word to use is “really”. Learn proper English, please.

Health care costs?


U.S. business leaders say hobbled by healthcare costsThe Business Roundtable, which represents the largest U.S. corporations, released a study showing that for every $100 spent in the United States on healthcare, a group of five leading economic competitors — Canada, Japan, Germany, the United Kingdom and France — spend about 63 cents.The article states that for every $100 dollars spent by the US on healthcare, 5 chief competitors spend 66 cents. I think they’ve changed their units mid-stream and that it should be $66 dollars per $100 or 66 cents per dollar.D.R.A number of readers noticed this one. We corrected: GBU Editor

2007 file photo by REUTERS/Jim Bourg

Foreclosure figures


One in 8 U.S. households late paying or in foreclosure

NEW YORK (Reuters) – About one in every eight U.S. households, a record share, ended 2008 behind on their mortgage payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.

You have distorted the facts with the headline. 1 in 8 households are NOT late on their payments. That ratio applies to home owners THAT HAVE MORTGAGES. Your headline is alarmist and inaccurate.

Gold rise

- Gold rises over $1,000 on haven buying

NEW YORK/LONDON (Reuters) – Gold rose above $1,000 an ounce on Friday for the first time since March last year as nervous investors piled into the yellow metal to preserve wealth amid a tumbling stock market. The difference between “Gold futures rise $1,000 on flight to safety” and “Gold futures rise TO $1,000 on flight to safety” is a scary, inaccurate statement. If the price of gold is $1000 and gold “Rises $1000″ that would make the price of gold $2000, a 100% increase on the day. Prepositions do matter.