Archives for February 2008

Actually, the economy is still growing, but the reporting and hype around it is quite bad.

This morning, our power came on just in time for me to catch a segment on Good Morning America with Mellody Hobson. I really like Mellody, but it’s clear she’s being pushed into stories that make no sense whatsoever. Unlike the bloviating fools on the finance nets, she isn’t forced to fill airtime with idle speculation. Her piece today was about Americans being over-extended on car loans, and the possible effect on the economy. A “car bubble” might be interesting, but it didn’t go that far.

She interviewed a couple that has upgraded vehicles three times in fours years, new cars every time. They think they’re worth $24,000; the loans are for $44,000. That’s called being “upside down” on the loan.

I feel for this couple, I really do. But this isn’t a sign of economic slowdown. It’s individuals facing up to the consequences of the choices they made. That didn’t stop the producers from slapping a Recession Rescue! banner on the piece. It’s misleading, either way you look at it. Any oncoming recession (if one exists) has had no bearing on this couple’s plight. Conversely, the over-extension of car loans is not a factor in creating a recession.

A recession is defined as two consecutive quarters of a shrinking economy. According to the Bureau of Economic Analysts, we haven’t had a single one since 2001. (3Q 2000, 1Q 2001, 3Q2001.) That’s 24 consecutive quarters of growth, and only 3 of the 24 were less than a percentage point.

Playing Dress-Up

Which gets us back to this Recession Rescue bit. Why the banner? Why the angle on the story? Isn’t it enough to do the same piece as just a consumer-advocate story? The couple interviewed even admitted at the very end that it was entirely their own decisions and consequences! We could be having record growth and still have this same dynamic.

As for Mellody, I’m a big fan. I happened to be watching the morning she debuted, and remember how nervous she was. You could see it in the body language that she wasn’t comfortable. Her voice was low, with a little timbre. She shook, just a little. She didn’t project her voice with the same command and authority that she does now. But I’ve watched her over the last year or so really grow into the role, bringing her background in finance and honing her gentle manner of explanation.

And today? She looked and sounded just like her rookie self. Same unsure sounds, same uncomfortable look. I remember feeling that way myself, when I had to read things into a camera that others had written.

Speak for yourself

Body language and comfort level speak volumes. I was never a good enough actor to pretend that I knew things I didn’t on television. That’s why I took advantage of every opportunity I had to rewrite copy, and say things the way I naturally speak. Sometimes it was a light touch-up on phrasing– sometimes the merging a couple of thoughts — sometimes a complete re-organization of the script to put the facts in a more logical framework. But it always needed to sound like it was coming from me, because ultimately it was.

When you’re not speaking for yourself, not speaking your own words, people catch on quickly. (And Mellody, I feel for you. I’ve been overruled by producers too, and still have the scars to prove it…)

[tags]Ike Pigott, Occam’s RazR, broadcasting, GMA, economy, news, recession[/tags]