Wonder Where ABC gets its Business News?

We are all familiar with that media monster called ABC and its huge channel selections that includes sports (the many ESPN channels), kids programming (the Disney Channels), and many others. But I was curious where they got their business news and information. They obviously wouldn't go to CNBC, since it is a part of the GE family, which includes archrival, NBC. But they still have Bloomberg and a plethora of independent business media available. For some reason I was surprised to see Alexis Glick of Fox Business (part of a huge family of networks that overlap ABC in sports and family programming) on ABC's Good Morning America.

Alexis Glick, who has been a guest on my Price of Business show, is one of the most articulate and well versed people on business news and content. She did not disappoint on ABC's Good Morning America with a very thoughtful Goldman Sachs earnings preview. In her discussion she:

• Reviewed the enormity of Goldman Sachs earnings and what it means to Wall Street and Main Street


• How taxpayers should feel about this participant of the bailout enjoying this kind of earnings


• What should taxpayers expect in the future when it comes to company bailouts


• How Goldman Sachs early repayment of the TARP (it was one of the first companies) should matter

Glick is one of the more perceptive analysts in business news and I largely agree with her when it comes to the variety of feelings most Americans will experience when it comes to "Business after TARP" (sounds like a future article). I believe that it is imperative, however, for Members of Congress in both Houses and the American people to assess TARP and whether it was the best route to follow. This requires tough questions:

• Why were we informed that TARP needed to be passed "now," but more than 90 percent won't reach its beneficiaries until 2010?
• Why is the bulk of that money being released during the election year when we are experiencing near double digit unemployment now?
• Was this a legitimate action for the government to take in light of the obvious Constitutional restrictions?
• Since government jobs don't create profit, and profit is necessary for long term job growth, are not the government created jobs all temporary?

These questions and many more should be asked by the media on politicians daily. However, other than Fox and a few overtly conservative media outlets, it simply will not happen. That is probably the exact reason ABC called on Fox and the analysis of Alexis Glick. Not only is the network noted for being "fair and balanced," but it is also extremely thorough. Something we really need from the media today.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

The Last Thing the GOP Needs is an "Alternative" Health Care Plan

Just when you think the Republican party is prepared to draw a line in the sand and put up a fight against the hostile take over of our health care system by the government, we are now hearing about a likely GOP alternative to the Democrat's rationed care system. This is, of course, business as usual. One party will propose a bill and the other party will offer alternatives in an effort to slow down the direction in which the country will be heading. Democrats might offer an alternative to a policy that is too "free market" for their tastes, while the GOP may offer a plan that might slow down the pace towards socialism. That is the problem, particularly when it comes to socialized medicine. To produce their "knee jerk" policy alternative to socialized medicine, which will be filled with government intervention of its own, will merely make the case for a lighter form of socialism, when a case for the free market needs to be made.

Instead, the GOP should take a different approach. Republicans should go on their own offensive and attack what the government has done to health care to date, what government will do to innovation in the future, and how rationed health care has devastated the lives of others around the world. Republicans need to read the growing sentiment of the American people who are looking for Constitutional government and not merely a slower vehicle towards totalitarianism. The following are some bullet points that might help those who want to resist this government expansion:

• Make it personal. Do you know people who have received poor treatment under socialized health care in other countries? How about those who received government care in this country? My mother's family was from England and had relatives die due to socialized medicine, so it is easy for me to make it personal. Spend a little time researching socialized health care horror stories. Conservatives for Patients Rights is an excellent source of information.


• Talk innovation. According to Forbes magazine, 80 percent of all innovations in health care are from the United States. For decades, the prevailing technology that has been used through out the world are from the USA. The reason for this is simple, this country is one of the last with a financial incentive to improve health care. When we remove the incentives in health care, we will naturally see technology slow to a trickle


• Talk about the law. Remind Members of Congress that the Constitution doesn't have a provision for socialized medicine. Furthermore, Article I, Section of the Constitution states what the federal government can do. Point out that this is an issue that is suppose to be left to the states, according to the Tenth Amendment. States such as California, Massachusetts, and Oregon each have comprehensive health care programs. Other states can develop their own, where such is allowed, each state can observe what others are doing and increase the likelihood of developing something that works. Republicans who are afraid of opposing socialized health care should say "I am open to such reforms as long as it is done by the states, where it is allowed."

Obama's health care agenda is immoral. Period. It is stealing from some to pay for others. The state of Hawaii had a universal program that lasted only seven months. Why? "People who were already able to afford health care began to stop paying for it so they could get it for free," said Dr. Kenny Fink, the administrator for Med-QUEST at the Department of Human Services. "I don't believe that was the intent of the program" he went on to say. Whatever amount the government claims it will cost is a mere fraction of what it will actually be. It will be ineffective, expensive, destroy innovation, and be a massive waste. This is a great opportunity for Republicans to take the offensive and fight for the rights of patients.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

What Type of "Future Judge" is Sotomayor Trying to "Inspire"

The hearings regarding Sonia Sotomayor's appointment to the Supreme Court are among the most interesting I have seen in quite some time. Not only does this particular appointee stir controversy when it comes to specific issues (e.g., Abortion, which is always a hot topic), but she brings a complete paradigm shift on the way the court conducts itself. In particular, this judge raises the question, "will justice remain blind?" Justice being blind is one of the fundamental rules of law that has guided this Republic. It is being seriously challenged by Sotomayor.

Senator Jeff Sessions (R-AL), the ranking Republican on the Judiciary Committee, has provided some of the most important questions to the changes in the law Sotomayor appears to want to pursue from the bench. Session stated in his questions to Judge Sotomayor:

"In 1997 when you came before the Senate and I was a new senator, I asked you this. In a suit challenging a government racial preference in quota or set-aside, will you follow the Supreme Court decision in Adarand and subject racial preferences to the strictest judicial scrutiny," close quote. In other words, I asked you would you follow the Supreme Court's binding decision in Adarand v. Pena. In Adarand, the Supreme Court held that all governmental discrimination, including Affirmative Action programs, that discriminated by race of an applicant must face strict scrutiny in the courts. In other words, this is not a light thing to do. When one race is favored over another, you must have a really good reason for it, or it's not acceptable."

"After Adarand, the government agencies must prove there is a compelling state interest in support of any decision to treat people differently by race. This is what you answered: "In my view, the Adarand court correctly determined that the same level of scrutiny -- strict scrutiny applies for the purpose of evaluating the constitutionality of all government classifications, whether at the state or federal level, based on race," close quote. So that was your answer, and it deals with government being the City of New Haven."

"You made a commitment to this committee to follow Adarand. In view of this commitment you gave me 12 years ago, why are the words "Adarand," "Equal protection" and "Strict scrutiny" are completely missing from any of your panel's discussion of this decision?"

Sessions essentially established that Mrs. Sotomayor lied when she sat for approval to the Court of Appeals in 1997. She lied, knowing that she would possibly be appointed to a higher court and that her radical decision against blind justice, would likely be over ruled (which it was in Ricci vs. DeStefano). Also, 80 percent of her decisions have been overturned by the Supreme Court. She is a radical jurist who will now be defining precedent in the Supreme Court. The future of the law will be one in which racism will be sanctioned.

Much of the concern lies in statements that she has made about "wise Latina" females making better decisions than white males. What motivated her to make, what can easily be described as a racist statement? She told the Senate Judiciary Committee that "I was trying to inspire them to believe that their life experiences would enrich the legal system, because different life experiences and backgrounds always do." In essence she is trying to inspire future lawyers. Lawyers who will consider racism as an acceptable framework for making legal decisions.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

Richard Shelby has Candid Discussion about the Fed Chair on Fox Business

For the vast majority of Americans, being told that we are having a "jobless recovery" is the same as saying we are having no recovery at all. "Recovery" means employment, job growth, opportunity, job security (even if it is not the one you are in, it is the knowledge that there are plenty available). "Recovery" without jobs, means prosperity only for the "haves" in an economy. This is something that seems to persist no matter what is going on in the larger picture.

In a startling interview on the Fox Business Network, Sen. Richard Shelby (R-AL), the ranking Republican on the Senate Banking Committee, stated that he was informed by Federal Reserve Chairman Ben Bernanke that we might be dealing with a "jobless recovery."

Here are excerpts from the interview with Sen. Shelby on his very candid discussion with Chairman Bernanke:

What does Chairman Bernanke say about the recovery? "He thinks when there will be a recovery—basically his words—it will be a jobless recovery, and that’s not good for America.” Again, for the vast majority of Americans, this is no recovery at all.

What about giving the Federal Reserve more regulatory power? “We talked about the regulatory structure that we will be debating this year up here, and the Fed basically as a regulator failed the American people. Why should we give them more power now? That’s the question I asked. He didn’t say they didn’t fail. He didn’t admit it, but he didn’t say otherwise.” Alas, we have seen how much the shift in power to the Federal Reserve has "benefited" the larger economy to date. No wonder many members of Congress are skeptical.

What about the pace of an economic turn around? “The answer was basically muddle… He was very careful with what he was saying even to me, a member of the banking committee.” I find the word "even" to be a little humorous. Seeing the insane things that have happened from this Administration and the total lack of transparency of those that are governing, you would almost think Sen. Shelby would say "especially to me." The last thing the Fed wants is more accountability, in my opinion.

Has the economy made a turn around the corner? “He couldn’t really answer that. He thinks some of our financial crisis has stabilized, but it’s not over.” I guess one of the "jobs saved" so far is Bernanke's. That is a sign of recovery, isn't it?

As I have said before, being hungry is crucial, no matter what business you are in, including cable news. Consistently, Fox Business, even with its relationship with the largest name in cable news, Fox News, demonstrates a desire to beat others to the most important business news stories of the day, as seen in this breaking news story on Shelby. I don't mean to sound like Neal Cavuto, but if you don't get Fox Business, make sure you contact your cable provider. In the mean time, you might consider regularly visiting FoxBusiness.com for the latest in videos and other information.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

Politics and Women on Fox News Strategy Room

The 3 PM EST of Fox News Strategy Room is often referred to as the ADHD hour because its Host, Eric Bolling, takes that program exactly where he wants it to go. There is no particular agenda, just the biggest headlines driving the day's news. This week when I was on the she we spent some time discussing Sarah Palin's decision to not run for reelection and, far more surprisingly, to resign as governor.

I have been arguing that the mainstream media will do everything in its power to prevent a conservative female or minority from being elected to national office. The left has believed that minorities and women would have no political power without the liberal agendas of the past. Essentially, they want to keep these groups on an ideological plantation, with women and minorities marching in lockstep. I assume the progressives don't realize that the idea behind giving these groups their freedoms, was to empower them to be able to disagree with their agenda. That is what freedom is all about.

Immediately, others in the panel disagreed. They pointed to people like Bay Buchanan, who has enjoyed a successful career as a political consultant. She has never faced the scrutiny of the election process, to me it was a weak argument. They then countered with Elizabeth Dole.

There is no doubt about it, Dole has had an impressive career. Former Secretary of Labor, former Secretary of Transportation, and an US Senator, Dole has certainly had a career filled with accomplishments. My colleagues were missing my point. You can point to many successful conservative females in politics, but we only have one that was on a national ticket and that was Sarah Palin. Now Dole has run for national office, but had little to show for it.

In 2000, Dole pursued the Republican nomination for President. She actually made her announcement in 1999 and pulled out before Halloween of that year. Her candidacy didn't even have the opportunity to face a single primary because of a lack of funding. Dole placed third, behind then Governor George Bush of Texas and magazine publisher Steve Forbes, in a large field in the Iowa Straw Poll. Polls in Iowa showed her fairing even better, second only to George Bush, but without money, why bother. The media didn't have to butcher Dole because she was never a serious threat. They could even treat her a little like a media darling, because of the fact there was a female Republican pursuing the ticket. That was an interesting novelty as long as she wasn't a serious threat.

The only way to test my thesis is to apply it only to female candidates who have actually had the nomination for national office. Enter Sarah Palin. Palin was literally butchered by the mainstream media by every measure. The thought of Palin as Vice President provided nightmares to the left and to the media that largely supports a liberal agenda. Attention women and minorities, if you are serious about national office, you better be prepared to worship at the alter that "got you there." Other wise, we better be prepared to change the way the media looks at women and minorities.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

Sheila Jackson Lee's Lust for the Microphone finds her Singing Jackson's Praises

Let me preface this with a disclaimer. I've dealt with Sheila Jackson-Lee before and neither one of us count the other as "friends." Several years ago I served on a panel in a televised debate in which three conservatives faced off against three liberals on how to solve poverty problems. The only person I remember on the other side was Congresswoman Sheila Jackson-Lee (at least I can call her memorable). Over the years I have participated in a huge number of debates and other forums, but this was one of the most interesting. I got to call one of the most liberal Members of Congress that she was a "poverty pimp" to her face. I doubt I will ever forget the look on her face. Sheila Jackson Lee is one of many liberal politicians who survive off of poverty. If her constituents some how became wealthy, they would throw her out of office at their earliest opportunity. This is because her high tax and big government worldview is fundamentally opposed to the idea of wealth creation. We are not members of a "mutual appreciation" society.

In addition to this, Lee has a reputation as being one of the most dangerous people in the country when it comes to standing between her and a microphone. I watched very little of the Michael Jackson "lovefest," the few minutes I was on, there was Jackson-Lee. Knowing the casket was probably feet away, they might want to begin questioning her as a suspect. I wouldn't say should would knock off "the gloved one" to be able to have such a large platform, on the other hand, she might.

What she said at the event was odd, even by Sheila Jackson-Lee standards. It fact, it was even a little odd for an event that may go down as one of the most bizarre in recent history. Michelle Malkin pointed out in her blog that "Democrat Rep. Sheila Jackson-Lee just pimped the stupidest House resolution ever on stage at the Jacko memorial at Staples Center. She held up a big, framed copy of it as the crowd cheered. That was after she extolled 'The King,' painted him as the world’s greatest humanitarian, and demagogues the child molestation cases by proclaiming that members of Congress “understand the Constitution” and “we understand laws” and we know that “people are INNOCENT UNTIL PROVEN OTHERWISE!” Yes, she did. Right there in front of Jacko’s three children." That resolution was to honor Michael Jackson (read the strange document here). Malkin goes on to ask "Who paid for Jackson-Lee’s flight to L.A.?" Knowing Jackson-Lee, this "important resolution" and "Congressional business" justified the taxpayer expense in her mind. With representatives like Sheila Jackson-Lee, no wonder our nation is in such a mess.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

Mr. Franken Gets Lost in Washington

I found it more than funny seeing Sen. Harry Reid guide newly elected Senator Al Franken to the podium to discuss his priorities as he takes his office. Franken, with that Saturday Night Live smile and "gee golly" expression, was memorable. One of his opponents will use this when, or if, Franken runs for reelection.

Franken has completely out done himself by becoming the US Senator from Minnesota. In spite of the fact that many are crying that he has stolen his way into this elite club, Franken is in and Washington will be watching closely.

I worked in DC for many years, first as an aide to US Senator Gordon Humphrey (R-NH) and later with several think tanks and political organizations. I also was a friend with members of the US House. Members in that "lower chamber" are noted for their rough and tumble antics, propensity towards individuality, and constant fight to be recognized. The US Senate is the exact opposite. That organization is very much like a prestigious club, designed for the "best and the brightest" from each state. Compared to the US Senate, the House of Representatives is like Animal House.

Animal House, the famous movie developed by many of the people behind Saturday Night Live, would likely be a great place for Franken, since that program made him famous. He could even pull gags on his colleagues and be voted most popular, at least on the Democrat side of the aisle. This is not the case with the US Senate. You could see the look of anxiety on Harry Reid's face as they walked up to the microphone. The Majority Leader appeared to be holding his breath. There is this simple belief that, with many states literally electing dozens to US House seats based on their population, there is something special about the US Senate. Al Franken challenges that conventional wisdom.

Besides having among the most extreme views in the Senate (he may proved to be to the left of socialist Bernie Sanders), he has some of the most unusual behavior. He speaks his mind when and how he wants, regardless of how inappropriate it may be. It will be fascinating to see what kind of committees he ends up being on. A few likely possibilities are Veterans Affairs, Small Business and Entrepreneurship, Indian Affairs, and the Joint Committee on the Library. They are going to try to put him in a place to minimize his air time and minimize the damage, he would likely place on his Democratic colleagues. On the other hand, it is the Democrats, so he could end up in the most important Committee assignments. We will have to see. Franken isn't leaving entertainment, he is just laying the groundwork for his next movie, "Mr. Franken Gets Lost in Washington."

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.