August 10, 2007

Today's Front Pages Analysis

Rocked stocks roll on many Page Ones

“CREDIT CRISIS SPILLS INTO WORLD MARKETS” says the San Francisco Chronicle, summing up today’s Page One news in the U.S. and much of the world. “Credit Crunch in U.S. Upends Global Markets” says The Washington Post.

But newspapers offered a good mix of front-page stories.  The Washington Post followed the murder last week of a black journalist in Oakland, Calif. The Post’s take: “For some in Oakland, Editor’s Death Shows Subversion of Black Activism.” Today’s Oakland Tribune offers “Editor slaying suspect: I didn’t kill Bailey.” The story is about a 19-year-old handyman charged with the Aug. 2 murder of the editor of the Oakland (Calif.) Post, a weekly newspaper serving black communities of the San Francisco Bay area. The suspect, who works at Your Black Muslim Bakery, had earlier told police he shot Chauncey Bailey, 57, over anger with Bailey’s stories about the bakery’s financial and legal problems.

Florida Today, of Melbourne, echoes financial hysterics with “Credit worries sink Dow” and is one paper guaranteed to mention that the “Shuttle arrives at space station today.” Minneapolis’ Star Tribune says “3 more victims recovered” from the bridge disaster that dominated news since last week, while leading with “Mortgage losses rock market worldwide.”

Hey, Midwesterners! Want that steamed or baked? The Wichita Eagle in Kansas complains of a “WHOLE LOT OF HOT.” With triple-digit temperatures the Eagle bemoans that rain only brings steam. Weather trumps finances when people are miserable. The Courier-Journal, of Louisville, Ky., tells readers “Sizzle & steam” with a Page One photo of misery. But its eye is also on the Dow with “Stocks tumble by 387 points.” Investors are “spooked” by the home-loan market. It was too good to be true when borrowing was so easy the past four years.

At The Times-Picayune in New Orleans, all news is local today, with murder, mayhem and battles over deadlines for filing Katrina insurance claims. No end in sight for NO.

Across the pond, Page One of London’s The Daily Telegraph says, “US fears put world markets in turmoil,” but its top story tells Brits of a “Record death toll of British troops in Iraq.” The British are getting restless.

Politics dominates news at The Des Moines (Iowa) Register: “December caucuses a possibility” because South Carolina Republicans are moving the South’s first primary to January. With the presidential campaign off to such an early start, why not move the elections forward too? Democrats might like that.

The Atlanta Journal-Constitution leads with “Credit crunch goes global.” But recall a few weeks ago that The News Journal of Wilmington, Del., claimed beer prices were rising due to ethanol. The Journal-Constitution found another link. Its bottom front-page headline declares, “All that dough for one steak? Blame ethanol.”

Tim Friend is senior content specialist for exhibit development at the Newseum.

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