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FEBRUARY 9, 2004
Rupert Murdoch's Big Adventure Apparently the authors of "Rupert's world" (Cover Story, Jan. 19) couldn't resist the opportunity to color their description of Fox News. A statement such as "there's little doubt that he has made Fox News a soapbox for a collection of shrill, right-of-center commentators like Bill O'Reilly and Sean Hannity" just reinforces the truth of Bernard Goldberg's points about the arrogance and left-leaning bias of the Establishment media. To write that the network is "jingoistic" in its coverage of the Iraq war is a "liberal" opinion, not a fact. Ironically, without empire-builders like Murdoch, we would have fewer points of view and more media control of information. Edward A. Porter Scituate, Mass. Editor's note: What BusinessWeek said was, "Coverage on Fox and in the New York Post during the Iraq war was widely criticized for being outright jingoistic and for eschewing the usual journalistic distance." In "The impact of Rupert's empire" (Editorials, Jan 19), you reject the idea that the success of media companies should be determined by a free market. Instead, you insinuate that something ought to be done to curb Murdoch's achievements. In a free society, the owner of a media company has the right to promote his or her personal opinions about politics. Viewers may enjoy it and watch regularly or they can stop watching if they find it objectionable. Furthermore, media rivals can state their opposing views and attempt to attract viewers. Barry A. Liebling New York Thank you for the juxtaposition of "Rupert's world" with "What's beyond for Bed Bath & Beyond?" (Corporation, Jan. 19). Both articles deal with the issue of succession, a major challenges facing family firms, which represent more than 80% of all enterprises in the U.S. There are hundreds of thousands of family businesses struggling through the succession process. At Bed Bath & Beyond, the kids decided to go it alone "to keep the peace" ("Like father, like son," The Corporation, Jan. 19), while the Murdochs focus on the transition to the next generation. James C. Barrood Madison, N.J. The Side Effects Of Greenspan's Policy In "The fed: too soon for a victory lap?" (News: Analysis & Commentary, Jan. 19), Rich Miller aptly asked: "Why is Greenspan smiling?" Greenspan had previously observed that it is impossible to know when you are in a bubble. His "self-congratulatory" speech defends his "hands-off" policy during a bubble that he didn't know existed. As to the successful "strategy of addressing the bubble's consequences" -- primarily due to a 45-year-low federal funds rate of 1% -- tell that to savers being penalized by negative real aftertax rates. Meanwhile, big-money players can borrow at rock-bottom rates and invest those funds in higher-yielding bonds. How many more "successful" outcomes could be in the offing? Fred Plemenos Lexington, Mass. No Inflation? Maybe the price of everything else hasn't changed, but it seems to me that the cost of housing is very much affecting most people's cost of living at an alarmingly increasing rate. Arnold H. Wuhrman Mission Viejo, Calif.   Tipping The Scales For Schrempp And Neeleman Your portrayal of Jürgen E. Schrempp and DaimlerChrysler lacks fairness and balance. ("The worst managers," Special Report, Jan. 12). Schrempp and DaimlerChrysler are in the process of creating a powerful global transportation company. The strategy of globalization has been discussed in great detail and agreed upon by the supervisory board. You have taken a snapshot of a long-term process, emphasized every negative, and eliminated the positives. This company has exciting new products in every brand, technology leadership, high positive cash flow, a strong balance sheet, stable credit ratings, consistent earnings, solid global positioning, an able management team, and a restructured Chrysler Group and Freightliner LLC business. In a word, we respectfully ask for greater balance. Robert J. Lanigan, Chairman Emeritus Owens-Illinois Inc. Toledo L.R. Wilson, Chairman of the Board Nortel Networks Corp. Toronto Editor's note: Both writers are members of DaimlerChrysler's supervisory board. David Neeleman of JetBlue Airways Corp. has created and run an airline that is soaring in the industry's worst downturn in history. In an industry hell-bent on finding the lowest denominator in customer service, this is a manager who "gets it": Take care of your employees, and they in turn will take care of your customers. As for the public-relations snafu, BusinessWeek recognized that Neeleman's swift, decisive response was to be commended. By that test, it seems he's one of the best. Stefan Borowicz Exeter, N.H. There Are No Completely Safe Drugs The 155 deaths and 16,000 adverse reactions to Ephedra are tragedies, to be sure ("Ephedra: One down, more to go," News: Analysis & Commentary, Jan. 19). But that pales in comparison with the 100,000 or more who'll die this and every year from prescription meds. Even "safe" drugs like aspirin and acetaminophen kill many more every year. Talk with your doctor and stay clear of any pills, prescription or otherwise, that may affect you adversely. And leave me, my Vitamin C, and other supplements in peace. Bob Kane Doylestown, Pa. Why has the Food & Drug Administration not banned the over-the-counter cold medicines that contain pseudoephed-rine? Pseudoephedrine is a synthetic form of ephedra and is also a stimulant. David Chapman Charlotte, N.C. Porsche Had Better Rev Up -- On The Racetrack I liked "This SUV can tow an entire carmaker" (International Business, Jan. 19), but it missed a significant point: Racing is the heart and soul of Porsche. Racing provides the performance aura that Porsche buyers are purchasing. Unless Porsche returns to racing in a meaningful way, relatively soon, the aura will disappear, and the company will wither. I have a Cayenne, and it's everything I hoped it would be. It's the seventh Porsche in our family since 1978. However, Porsche's commitment to racing, or lack of it, is enough to test one's loyalty. William E. Reichmuth Salinas, Calif.
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