Conventions, elections, violence: B2Bs will find it hard to get their readers, clients to concentrate on the usual business
Updated Morning Brief: David Cameron announces that he will step down following prime minister’s questions on Wednesday, allowing the new prime minister, Theresa May, to take over at Number 10 Downing Street
The 2016 Republican National Convention is now only a week away, and if anyone things readers will care about new iPhones or anything else nonpolitical when that show starts they are in for a rude awakening. The fact is that sometimes events overtake things and B2B publishers find that getting their readers and advertisers to care about industry news is nearly impossible.
I learned that lesson quickly during the hours and days after the Loma Prieta earthquake in 1989 when all my customers wanted to talk about was there reaction to the disaster. I quickly instructed my reps to stop talking business and go out and talk to their clients, listen to their stories, there would be time for new ad schedules soon enough. It got me in serious trouble when I suggested to fellow ad managers and newspaper executives that maybe the welfare of our customers was more important than pushing another quarter page ad.
There is a lot of news to digest, and that news will like drown out just about everything else.
UK: Theresa May is set to become the new prime minister after her only rival, Andrea Leadsom (above), pulled out of the race. “Business needs certainty, a strong and unified government must move quickly to set out what an independent UK’s framework for business looks like,” Leadsom said in announcing her decision.
May will become only the UK’s second prime minister. The irony is that May supported ‘Remain’ in the Brexit vote, and now will be charged with negotiating the UK’s exit from the European Union, dealing with the possible second independence vote in Scotland, and leading the Tories against Labour in an expected snap election.
Labour, meanwhile, is engaging in a civil war, with a majority of Labour MPs looking to dump their leader, Jeremy Corbyn, while the membership continues to be enraged with Labour’s role in the selling the Iraq War and supporting economic policies that seem to only benefit London and the financial classes. In such a condition, a snap election will like mean a win for the Conservatives, and more years of Labour out in the wilderness.
Update: David Cameron announced today that he will step down as prime minister following Wednesday’s prime minister’s questions. Here is his statement:
We are not going to have a prolonged leadership election campaign. I think Andrea Leadsom made absolutely the right decision to stand aside. It is clear Theresa May has the overwhelming support of the Conservative parliamentary party.
I’m also delighted that Theresa May will be the next prime minister. She is strong, she is competent, she’s more than able to provide the leadership the country is going to need in the years ahead and she will have my full support.
Obviously with these changes we now don’t need to have a prolonged period of transition. And so tomorrow I will chair my last cabinet meeting. On Wednesday I will attend the House of Commons for prime minister’s questions. And then after that I expect to go to the Palace and offer my resignation, so we will have a new prime minister in that building behind me by Wednesday evening.
The move clears the way for Theresa May to take over at Number 10 immediately… and allows Cameron to have nothing to do with Brexit except to sit back and watch what he started by calling the referendum.
Justice: Investigators and the media continue to looking into the motivations behind Micah Johnson’s shooting of Dallas police near the end of an otherwise peaceful demonstration against police violence on Friday evening, Jennifer Emily, justice reporter at The Dallas Morning News, writes a short profile that seems to paint a picture of a troubled man, rather than a political one.
In handwritten scrawls and crude sketches, police learned about the 25-year-old’s gun lust, his fascination with shoot-and-scoot tactics, and increasing interest in black nationalism.
But his writing also showed something else, according to a Dallas Police Department officer with access to evidence in the investigation.
His words aren’t an intricate manifesto. They were fleeting thoughts that bounced around inside a brain that never really grew up.
But it is unlikely the idea that the shooter was mentally unbalanced when get through to many, not when there are simply too many political points to be won.
“When you say ‘black lives matter’ – that’s inherently racist,” former New York mayor Rudy Giuliani said this weekend on national television. “The police understand it and it puts a target on their back. Every cop in America will tell you that if you ask him.”
The Markets: Don’t look now, but the British stock market is booming. In fact, stock markets, in general, have been up strongly since the Brexit vote. Sure, the two days after the vote markets fell. But the FTSE 100 is actually well above where it stood just prior to the vote to leave the EU.
As for the British pound, which some warn may soon reach parity with the dollar, its value has stabilized and remains just about at $1.30 against the dollar.
US markets rose the day before the vote, but slumped with foreign markets. The Dow Jones Industrial Average has yet to recover all its losses, but another up day today will do the trick.
What’s going on? Do traders actually like Brexit, or are they reacting to other news? Most of the papers don’t seem to want to talk about it as it belies the better story of economic doom. Crashes sell papers, after all.