Networks That Praise Gates, Bashed Oil Firms
Same media outlets that attacked oil companies for success compliment Microsoft, a more profitable corporation.
By Ken Shepherd
Business & Media Institute
June 16, 2006
In the mid-1990s, aside from tobacco companies,
MSFT) and its
CEO Bill Gates were perhaps the medias favorite corporate villain.
Now hes a media darling.
On the March 3, 1998, then CBS Evening News, anchor Dan Rather suggested Microsoft needed to be reined in by the federal government. Some policing may be needed along the information superhighway, he said, adding that fellow-travelers say Gates is trying to run them off the road.
A month later on the April 21, 1998, World News Tonight, ABCs Peter Jennings warned his audience that millions of everyday computer users are still anxious that the more omnipresent Microsoft becomes, the more we computer users will have to do things the Bill Gates way.
Eight years later, strong profits have put Big Oil in the medias crosshairs while Gates has become a media hero and philanthropist.
Evening newscasts for ABC, CBS, and NBC heaped praise on the Time magazine 2005 Person of the Year on June 15. Gates was lionized for his work as a businessman and a philanthropist, a far cry from their slanted coverage just eight years ago.
Tonight we begin with a man who has truly changed the world, and in the process changed all of our lives, substitute anchor Campbell Brown began NBCs Nightly News.
NBC correspondent Anne Thompson presented Gates as a man of two passions: software and philanthropy. Thompson described Gates as a visionary who helped make the computer a device we cant live without.
ABC and CBS similarly lauded Gatess profitable business ventures and his charity work.
He is the richest man in the world. He founded the company thats had a more profound impact on modern life than any other, ABCs Charles Gibson reported, opening World News Tonight.
But now, gushed Gibson, Rather than making money now, he wants to devote his life to giving it away.
Over at CBS, Evening News anchor Bob Schieffer pronounced an early verdict from history on Bill Gatess contributions to the world. Sometimes many years must pass before we can make a real judgment on the impact someone has had on his or her time, but surely that is not the case with Bill Gates, who perhaps more than anyone opened the Internet to people in every part of the world, Schieffer declared as he set up a report by correspondent Anthony Mason.
Mason went on to note that Microsoft has grown to more than 61,000 employees in over 100 countries. It generates almost a billion dollars in profits every month.
While its true Microsoft has changed the world for the better while being strongly profitable, the media dont have the same view of oil companies, which generate far smaller profit margins in a capital-intensive industry.
According to finance.google.com, Microsofts net profit margin of nearly 32 percent far out-ranked Exxon-Mobil (NYSE: XOM), ConocoPhilips (NYSE: COP), and BP-Amoco (NYSE: BP) whose 2005 net profit margins were 9.71, 7.28, and 8.8 percents respectively.
Even so, the media have frequently attacked the oil industry for record profits and suggested that a windfall profits tax is in order to punish their success.