Explaining Southern California's economy

Bike fans flex their muscle against General Motors

cicLAvia

Eric Richardson/KPCC

Cyclists ride through the street at CicLAvia in downtown L.A. October 9, 2011.

So it's bikers 1, General Motors 0, after the giant automaker was compelled to pull a bike-unfriendly ad following biker outcry. This is from the LA Times:

General Motors Co. is killing an advertisement aimed at college students after receiving complaints that it makes fun of people who use bicycles for transportation.

That ad has a headline stating, “reality sucks” and depicts a nerdy looking guy wearing a helmet and riding a bicycle being passed by a cute young woman in the passenger seat of a car. It then goes on to say, “Stop pedaling … start driving” and provides information about discount pricing for GM products such as the new 2012 Chevrolet Sonic subcompact sedan and the giant GMC Sierra 1500 truck.

The ad ran in a variety of college newspapers and was turned into a poster that was displayed campuses, according to the automaker.

The advertisement was widely panned on a variety of cycling blogs and in complaints to the company.

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Federal Reserve plans to monitor blogs and social media. But will it actually read them?

The times, they are a-changin' at the stodgy old Federal Reserve. We used to think of it a financial temple from which a priestly caste of economic policy makers would periodically emerge to make oracular pronouncements of the sort depicted in the video of Fed chairman Alan Greenspan bantering with Ron Paul. Now the Fed plans to keep track of social media and the blogosphere to better understand how it's perceived.

This is from a really great Neal Ungerleider story at Fast Company:

[T]he Fed is now evaluating bids for a social media analysis system that will mine data from Facebook, Twitter, YouTube, blogs, and web forums--beginning in December. In order to "handle crisis situations" and "track reach and spread of […] messages and press releases," the project will also identify a number of what they call "key bloggers and influencers" to target with their outreach, and presumably monitoring, efforts.

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