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Story of the Day was a split decision. All three newscasts led with the bankruptcy of Chrysler Motors, the smallest of Detroit's so-called Big Three. Yet continuing coverage of the Mexican swine 'flu attracted more airtime (20 min v 16 for Chrysler), making it Story of the Day for the fifth straight weekday (9 min Friday, 34 min Monday, 21 min Tuesday, 18 min Wednesday). Vice President Joe Biden was responsible for putting 'flu on top with his alarmist soundbite on NBC's Today: "I would not go anywhere in confined places," including jetliners and subway cars, for fear of a stranger's sneeze. The 'flu was covered most heavily by ABC (7 min v 5 for Chrysler and CBS (7 min v 4 for Chrysler). NBC, which had an expanded 23-minute newshole, covered Chrysler most (7 min v 5 for 'flu).

The assignment of correspondents to the Chrysler story was evidence of the convergence of various angles.

It was an automotive story--NBC kicked off with CNBC's Phil LeBeau in Michigan. He reminded us of Chrysler's history of "surviving and reinventing itself" including Lee Iacocca's K-car in the '80s and its minivans becoming "symbols of family life in the suburbs."

It was a business story--CBS used New-York-based Anthony Mason, who outlined the "significant pay cuts" agreed to by union workers. CEO Robert Nardelli will be replaced and the new firm is organized to be owned by the United Autoworkers, the governments of the United States and Canada and Fiat, Chrysler's intended Italian-based partner. Mason warned that the reorganization may not be as rapid as planned: "Typically bankruptcies last for months and years."

It was a political story--ABC led with Jake Tapper from the White House. He played five soundbites from President Barack Obama's announcement of the bankruptcy--"an unprecedented federal plan"--and his pledge to extend an additional $8bn federal loan to the reorganized firm. Tapper noted that Citigroup, Goldman Sachs, Morgan Stanley and JP Morgan Chase, Chrysler's biggest creditors, agreed to be repaid only 29c on $1. They also happen to be recipients of federal bailout funds.

NBC's George Lewis followed up from California on the fate of Chrysler's dealerships while ABC's Chris Bury previewed its plan to close all its factories for 60 days while dealerships worked off unsold inventory. "Consumers may not notice much difference. The government will back Chrysler warranties and help provide new financing," Bury speculated. Italian-made Fiats will soon be sold under the Chrysler brand. "Fiat has not had a presence in the American market since the early '80s when some buyers joked that Fiat stood for Fix It Again, Tony, CBS' Mason recalled.

CBS' Mason finished in a rueful mood: "It is estimated that one out of every ten jobs in this country are somehow connected to the auto industry--including, right now, mine!" "Exactly," chuckled anchor Katie Couric, "the ripple effect."


Andrew Tyndall 5/3/09 10:54:40 pm

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