Pink's Bottom Line on Media, Money and Sports
Influence of news organizations, gas prices and MVP candidates in the NBA
In today’s newsletter, I discuss the growing influence of news organizations, higher gas prices and leading MVP candidates in the NBA.
MEDIA: Influence of News Organizations
The influence of news media is growing, according to a recent survey by the Pew Research Center.
Among those surveyed, 41% said the influence of news media was growing today compared to 32% who said the same a year ago.
Additionally, 33% said the influence of news media was declining today compared to 48% who said the same a year ago.
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As such, the findings of this survey indicate the growing influence that news media might have in shaping public opinion at the moment.
As news media becomes more polarized, the potential influence of partisan news organizations is also likely growing.
That growing influence is notable as the country is emerging from a pandemic and is only a handful of months removed from a contentious presidential election.
MONEY: Gas Prices
The national average price for a gallon of regular gasoline topped the $3 level last week for the first time in more than six years, according to AAA.
The average prices of a gallon of regular rose to $3.04, up eight cents from a week earlier, according to AAA.
The shutdown of the Colonial Pipeline, which was the victim of a hacker attack, contributed to that weekly increase.
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Even before that supply disruption, gas prices had been climbing for much of the year, following the steady of climb of oil prices.
The higher price at the pump now reflects steeper inflation at the consumer level, a problem for the US economy in general.
Look for gas prices, though, to remain steady even heading into the traditionally strong summer driving season as oil prices could moderate and there’s no indication of further supply disruption.
SPORTS: NBA MVP Candidates
With the NBA regular season concluding Sunday, Nikola Jokic has emerged as the overwhelming favorite to win the league’s Most Valuable Player Award.
According to FanDuel Sportsbook, Jokic is the clear favorite at -6000 to win the award followed by Golden State’s Stephen Curry at +2400.
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While Jokic certainly is a worthy candidate having led Denver to the third seed in the Western Conference playoffs, the most overlooked candidate just might be Chris Paul of the Phoenix Suns.
Phoenix boasts the second best record in the NBA, and Paul has led a strong young roster that includes Deandre Ayton, one of the best young big men in the league, and Devin Booker, a sharpshooting guard.
Paul’s leadership and presence pushed the team to new heights this season, leading the team to the playoffs for the first time in more than a decade.
Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)