On July 4, AllThingsD published a brief story that linked to the aforementioned Wall Street Journal report.

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The brief story is that a professor and a salesman launched a company based on a discovery of a better way to send data over phone lines.

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Giuliani has been a popular mayor, and it's difficult to say whether the story will make a brief splash or last long enough to have any impact on his re-election.

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Yet the day after Mr Blunkett's retreat, the Daily Mail tucked the story away on page 18, while the Times gave it three paragraphs in a news-in-brief column.

ECONOMIST: Bagehot