My friend Tom Stites sends along a pointer to the New York Times story, “Insurer Says Economy Has Dented Its Prospects,” which begins:
It is never a good thing if many of your customers can no longer afford what you are selling. The UnitedHealth Group, which announced disappointing first-quarter earnings on Tuesday, said the weakening economy was causing fewer businesses and employees to sign up for its health insurance. UnitedHealth, whose stock fell sharply on the report, also cut its overall profit outlook for 2008.
The Times “outdoes itself in covering the news from an elite perspective with this piece,” Tom observes.
“Reporting and writing the piece from the perspective of people in the third to seventh deciles of the income distribution would all but certainly yield a lede something like: ‘The weakening economy is setting off a surge in the number of Americans without health coverage.’
“People want to know this, not just investors. Journalism needs to inform them, but is failing.”