“O’Really…Really?”
“ABC Tonight: How to present a one sided story”
By
Russ Jackson
Today I only have a brief point to make. I usually do not watch ABC, or any other major network for news anymore, but ABC with Diane Sawyer just happened to be on while I was cooking. Here is the link to the story I happened to catch http://abcnews.go.com/WN/cost-brand-drugs-soars-hurting-elderly-americans-fixed/story?id=11478210.
In this story, ABC says that 217 brand name prescription drugs have risen over 41.5% in the last five years. It also claims that the consumer price index (wtf is that? Does the average American know what that is, or just take for granted that if the news says it is not growing, then it has made a point) has increased by roughly 13% over the same period of time. To be fair, here is a story about consumer price index, and you can look it up http://abcnews.go.com/Business/story?id=89190&page=1.
Here is my point, ABC is trying to paint the brand name drug companies as evil money grubbing entities. And you know what, they may be right about that. However, to present just these facts (which I will not dispute), is just praying on the average Americans intelligence, or lack of intelligence.
Now, if ABC really wanted to make a strong point that these name brand prescription drug companies were jacking up prices just to screw us all, they should have linked the PROFIT MARGINS of these companies over the same time period. Any person with a little bit of financial knowledge would understand that if the PROFIT MARGINS (post taxes) of said money grubbing drug companies had also sky rocketed in the same five years, that yes…these are nothing but evil drug companies trying to screw the American public. In other words, increased prices on certain drugs does not mean that the drug company is making more money. Maybe the raw material cost went up, maybe there are more taxes imposed on drug companies now and the increased prices are made to MAINTAIN PROFIT MARGINS. But, we will never know based on this little ABC story now will we. Why? Because the truth is not what ABC is really reporting. ABC just wants to make the public hate the evil money grubbing drug companies.
If I had the time, I would do the research myself on the profit margins, but I am not getting paid big bucks to write a story and be a journalist. Its too bad to, I am pretty sure I would have included relevant information, like how much money ( % profit post taxes) the drug companies are actually making due to these cost increases.
Also, I am not a fan of the drug companies. I am sure they use every tactic they can to make money (that is called capitalism by the way). And, if their profit margins rose in comparison to their increased prices without any other factors involved, then I would agree that they were sticking it to a section of the American public that really can not afford it. But, that is not my point here. My point here is that this was a one sided hack job story done by ABC that really has no proof that the drug companies are “evil money grubbing companies”, which is obviously the point Diane Sawyer was trying to make.
Russ Jackson
8/25/2010
“ABC Tonight: How to present a one sided story”
By
Russ Jackson
Today I only have a brief point to make. I usually do not watch ABC, or any other major network for news anymore, but ABC with Diane Sawyer just happened to be on while I was cooking. Here is the link to the story I happened to catch http://abcnews.go.com/WN/cost-brand-drugs-soars-hurting-elderly-americans-fixed/story?id=11478210.
In this story, ABC says that 217 brand name prescription drugs have risen over 41.5% in the last five years. It also claims that the consumer price index (wtf is that? Does the average American know what that is, or just take for granted that if the news says it is not growing, then it has made a point) has increased by roughly 13% over the same period of time. To be fair, here is a story about consumer price index, and you can look it up http://abcnews.go.com/Business/story?id=89190&page=1.
Here is my point, ABC is trying to paint the brand name drug companies as evil money grubbing entities. And you know what, they may be right about that. However, to present just these facts (which I will not dispute), is just praying on the average Americans intelligence, or lack of intelligence.
Now, if ABC really wanted to make a strong point that these name brand prescription drug companies were jacking up prices just to screw us all, they should have linked the PROFIT MARGINS of these companies over the same time period. Any person with a little bit of financial knowledge would understand that if the PROFIT MARGINS (post taxes) of said money grubbing drug companies had also sky rocketed in the same five years, that yes…these are nothing but evil drug companies trying to screw the American public. In other words, increased prices on certain drugs does not mean that the drug company is making more money. Maybe the raw material cost went up, maybe there are more taxes imposed on drug companies now and the increased prices are made to MAINTAIN PROFIT MARGINS. But, we will never know based on this little ABC story now will we. Why? Because the truth is not what ABC is really reporting. ABC just wants to make the public hate the evil money grubbing drug companies.
If I had the time, I would do the research myself on the profit margins, but I am not getting paid big bucks to write a story and be a journalist. Its too bad to, I am pretty sure I would have included relevant information, like how much money ( % profit post taxes) the drug companies are actually making due to these cost increases.
Also, I am not a fan of the drug companies. I am sure they use every tactic they can to make money (that is called capitalism by the way). And, if their profit margins rose in comparison to their increased prices without any other factors involved, then I would agree that they were sticking it to a section of the American public that really can not afford it. But, that is not my point here. My point here is that this was a one sided hack job story done by ABC that really has no proof that the drug companies are “evil money grubbing companies”, which is obviously the point Diane Sawyer was trying to make.
Russ Jackson
8/25/2010
Brother,
ReplyDeleteDid you see Obama's comment about Fox News recently? In the same interview he called the network ultimately destructive to America's longterm growth. He then describes it as being wildly successful, much unlike most of the American economy in these times.
Obama, where is the change that we can believe in? Show us that you are not beholden to your political views to point of destroying the american dream. Even if you don't agree with Fox's supposed political slants, at least look at their business model. They must be doing something right for them to be so wildly successful. Find out what it is, and take this country in that direction, if you dare.
Stop making me sad, or I might ask the government to help make me happy.