Programming legend Lee Abrams sent out the following “think piece” to his e-mail list today (reprinted with permission):

“For your [Memorial Day] holiday media amusement…

“Woke up today — watched Chicago’s channels 2, 5, 7, 9 as well as Weather Channel, CNN, and others. The big story:
‘Holiday traffic.’ Yet...

Microsoft announced yesterday that they’re giving up on their well-reviewed iPod competitor, the Microsoft Zune — one of the most-prominent selling points of which was its inclusion of FM and HD radio.

This is telling. Even though the Zune was an attractively-designed, well-priced device, with what would seem like a valuable selling point in its radio feature, Apple’s iPod is maintaining about a 75% share of the MP3 player market and Zune is rumored to be somewhere around a 2% share. (Cumulative sales to date tell a similar story:...

Wow, when business journalists write about a topic you know about, you can see how wrong they often are… and thus get worried about what you read on every other topic!

The Pandora IPO story over the weekend was a great example. Some well-known, well-respected publications made the following mistakes:

One top business magazine wrote about Pandora’s “$100 million in profits last year,” because they confusing “revenues” with “profits,” which are actually...

In the Wall Street Journal’s popular “Heard on the Street” section today, on the topic of Amazon’s “Prime” free-shipping program (which we use regularly here at RAIN and AccuRadio), business journalist Martin Peers points out that Amazon’s gross margins have eroded from 24% in 2005 to 22.3% last year. He then writes:

“[Amazon CEO Jeff] Bezos told analysts a few months after Prime’s introduction that he expected it would generate long-term...