Media companies are counting themselves among the winners in the 2012 election. SuperPAC spending on political ads will push the total amount spent past 2008 totals. The biggest beneficiaries are the usual suspects: Comcast, Disney, NewsCorp and CBS, but also locally owned TV and radio stations — especially those in swing states like Ohio and Florida.
Five hundred thirty-eight electoral votes were up for grabs on Election Day. President Obama has won, so far, 303 of them, a comfortable majority. Mitt Romney has 206. Twenty-nine are still unaccounted for - the electoral votes of Florida. Too close to call there. Less than a percentage point divides the candidates. But down the ballot, Democrats did well. The party retained a Senate seat and picked up a few key congressional races as well. NPR's Debbie Elliott reports.
For weeks, months - make that years - the conventional wisdom has been that the presidential election would all come down to Ohio, and Ohio would be very close. Well, that was partially right. Ohio was very close, but as NPR's Tamara Keith reports, not as pivotal as predicted.
TAMARA KEITH, BYLINE: Jack Shumate(ph) flew into Ohio last Thursday from Dallas, Texas. He came here because this was the place where he felt he could really make a difference for his candidate, Mitt Romney.
NPR's business news starts with a dive on Wall Street. Just this minute, the Dow Jones Industrial Average is down about 317 points. It's considered the worst drop of the year, so far. We're a little bit before noon in New York City. What's going on? We're going to try to find out. We're joined now by DavidWessel, economics editor of The Wall Street Journal. And David, as best you can determine, what's driving the drop?
Originally published on Wed November 7, 2012 9:40 pm
For months, Americans have been watching the presidential political drama play out nightly on the news. Now, with President Obama's victory, that story is ending.
But for the economy, an action thriller is just beginning.
Congress has just weeks to jump to the rescue of an economy moving closer and closer to the so-called fiscal cliff. That phrase refers to a $600 billion cluster of automatic spending cuts and tax hikes — all coming together at year's end.