Pink's Bottom Line on Media, Money and Sports
Trust in news, car rental prices and a top baseball rookie
In today’s newsletter, I discuss trust in news, car rental prices and a top baseball rookie.
MEDIA: Trust in News
Fewer than half of news consumers trust the news most of the time, according the Digital News Report, published by the Reuters Institute for the study of Journalism.
According to that report, only 44% of those surveyed globally said they trust the news most of the time.
Among individual countries, Finland fared the best with 65% saying they trust the news most of the time.
Pink's Bottom LineMeanwhile, according to that report, only 29% of those surveyed in the United States said they trust the news most of the time — that was the lowest percentage for any individual country.
That low percentage is likely a reflection of the polarization of political discourse in the United States — news consumers likely are skeptical of news organizations that don’t share a similar political viewpoint as them.
In any case, this report has a treasure trove of information on the news media and news consumption around the world, and it’s well worth reading if you have a chance.
MONEY: Car Rental Prices
Though car rental prices around the country are already at elevated levels, it might soon cost you even more to rent a car.
According to data from financial services company Jefferies as reported by the New York Post, it could cost twice as much to rent a car this August than it did before the pandemic began.
Those higher prices reflect, in part, the lack of supply of rental cars currently available in the market.
Pink's Bottom LineThe skyrocketing cost of car rentals is yet sign of how higher prices are squeezing consumers around the nation.
Prices are rising for most consumer goods and services pretty much across the board, and those prices increasing at rates well above traditional levels of inflation in most cases.
It will be critical to see if these sharply higher prices — like car rentals — are transitory in nature of if they are the beginning of a long term inflationary trend.
SPORTS: Top Baseball Rookie
Wander Franco, a rookie for the Tampa Bay Rays, made his major league debut in spectacular fashion last night in a game against the Boston Red Sox in Toronto.
Pink's Bottom LineFranco is considered of the top major league baseball prospects to come along in many years, and his stellar debut reinforced that notion.
Franco also appears to have the charisma and personality to go along with his outstanding baseball skills that make him almost destined to become the game’s next superstar.
With baseball’s flagging popularity, the sport needs a new superstar — and a new face of the baseball — to generate more interest in the game. Franco looks like he just might the player that can do that.
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)