Don Imus on Fox Business?

It appears that Don Imus is in "advanced talks" with the Fox Business Network about being a part of its morning team with his radio program being simulcasted on the News Corp network. The network has tried to weaken expectations, stating that they have many conversations with many media personalities, but the talks with Imus seem to be further down the road. Imus is a controversial figure who has been known for his racial rants and also his profound philanthropy. Every person I have met that I have discussed Imus with fall in two camps, they either love his honesty and his generosity or they hate him and think he is a blow hard. In this culture these are among the essential elements of a successful media personality.

If Imus is added he will be on from 6 am to 9 am and the addition will affect current programs. The LA Times notes "Imus' show would replace current programming, which now includes 'Fox Business Morning,' hosted by Connell McShane and Jenna Lee, and 'Money for Breakfast,' anchored by Alexis Glick and Eric Bolling. Nielsen Media Research does not yet release public ratings for Fox Business, which is now available in about 50 million homes." Currently he is on RFD, which seems to be having a difficult time paying its bills (including Imus) and has virtually no footprint. Imus and his strong populist roots (which fits in nicely with Fox Business' desire to be an alternative to its more "elitist" competitors) and the incredible Fox brand could be an impressive "one two punch" and put the business channel on the media map. There are, however, many questions surrounding the deal:

• How will Imus "fit" on a business show? His show isn't about business, but there are ways they can make it more business like. They will, of course, have a crawl on the bottom of the screen with business news and probably put additional information on side boxes. Furthermore there are designated breaks during his radio broadcast that I'm sure Fox will use to promote important business news.



• What about that time of day? The show would run from 6 am until 9 am EST right up to the opening bell. For many, this is a great opportunity to find out what happened over night in foreign markets and to interview those who might make a play on the day's business news. It is the end of this type of programming that makes some think Fox is throwing in the towel. The reality is, that information can also be conveyed with crawlers.



• What is the biggest benefit for Fox Business to having Imus on the network? He has access to millions of listeners who will hear about the Fox Business brand every day on his program. Furthermore, he is a major name in the radio industry.

So, would Don Imus be good for Fox Business? It is hard to say, but both TV and radio are "numbers" games and Imus certainly has the eyes and ears that the Fox Business Network would love to have watching its network.

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.

News Reporters or News Makers?

Although every media has an opinion section, you want to hope that you are largely getting real news and not a political agenda. That "hope" is quickly becoming a joke thanks to the clear agenda of the "mainstream" media.

For example, much of the mainstream media has created a "profile" of what a "Tea Party" member looks like. He is white, angry, and racist. His interest isn't nearly as much about taxes and government control, we are told, but has much more to do with the fact we have a black president. This assumption about Tea Party members was challenged by a recent health care rally being held by President Obama. Sure there were protesters, but this particular one even included the favorite media stereotype of all -- someone actually carrying a gun. MSNBC reported that "A man at a pro-health care reform rally...wore a semiautomatic assault rifle on his shoulder and a pistol on his hip....there are questions about whether this has racial overtones....white people showing up with guns." The one thing MSNBC reporter Contessa Brewer failed to mention is that the gun man was a black and they edited the video in such a way you would never know. A black, gun carrying, protester, didn't reflect MSNBC's obvious agenda.

Than there is the story of a leaked email from Tea Party Patriots and reported by TPMMuckRaker.com, a decidedly liberal website. Zachary Roth points out in the article that "CNBC approached Tea Party activists, looking for angry protest events that would make good television, according to a leaked email from a Tea Party discussion group. And one Tea Bagger responded by flagging an upcoming event that, he said, 'should be a riot ... literally.'" Having had witnessed Tea Party events and having been a speaker for them, I know first hand they are very peaceful demonstrations. Loud, but very orderly. Members of the Tea Party went on to say that they intended to provide an event that was "above reproach." For me, the far bigger issue in the exchange between the CNBC and the Tea Party. The network abdicated its role of merely reporting stories and not trying to create it. It is interesting that CNBC made this request to a conservative organization and not one of the many left wing "truth squads" who naturally create riots at Ann Coulter, Tom Tancredo, and others.

It is the burden of the media to monitor people and events and provide stories of these accounts to keep us better informed. This often includes investigative reporting. But creating stories themselves is not reporting but the worse form of political activism.

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 Demise of the US Auto Industry on FoxNews.com Strategy Room

FoxNews.com Strategy Room is an eclectic marketplace of ideas, especially when Eric Bolling is at the helm. Bolling’s academic background of economics and business, accompanied by a career that has included being a professional baseball player, one of the world's largest commodity traders, and years as a business news journalists (first with CNBC and now with Fox News and Fox Business) makes him something of an adrenaline addict and one of the most enjoyable TV hosts to watch.


Bolling is intelligent, eloquent, and passionate about his convictions, although they are not easy to label. He describes himself as one who is "center/right and believes in free markets." As a man who has made a significant part of his living as a commodities broker, his passions are both pragmatic and well founded.

When I was on the Strategy Room this week (Bolling hosts 3 PM EST hour) the show covered a plethora of issues early on, but slowly began to focus on the fact that the United States automobile industry is dying and seems to be doing so quickly. This is one of the most dominant topics in business news today.

Invariably these discussions lead to "what should the government do to solve this?" My answer to that is that government has been the primary reason the industry is in such a dire situation. You can go back decades to when Michigan became a close union shop state, making labor the primary customer rather the people who buy cars. This has led to Detroit paying over $70 an hour per employee compared to Japan's $40 an hour for employees in Southern states. Addressing the auto industry situation should include:

• Ending the controversial UAW "Job Bank" program . This program has paid tens of thousands to be idle at 90 percent of salary.


• Bring auto worker wages back to the real world. According to the Heritage Foundation, when it comes to salary and benefits, the average wage of all private sector employees is $25.36 and for American based Japanese auto plants (Honda, Nissan, Toyota) is $42.95 to $47.60 on average. The big three pays $70.51 (Ford), $73.26(GM), and $75.86 (Chrysler) per hour, per employee. These six digit wages for blue collar work demand a reality check.


• End the "30 and out" practice. The Detroit auto companies allow employees to retire with very lucrative packages at the young age after 30 years. If you start working at a plant at 20, you can retire at fifty. You can see where that can be costly. 60 or 65 should have to be the standard retirement age, which is what the market clearly demands.


• Seven week vacations need to be history. Detroit auto workers receive almost two months off a year. This is another pounding cost, on a very weak industry, that needs to change.


• Finally, they should require the companies to relocate to a right to work state. This would empower these companies to lower wages and make it easier to implement the other reforms listed above. Twentytwo states are Right to Work, 28 are not. It is more than a coincidence that all but one of the ten richest states are Right to Work, while the ten poorest are closed union shops according to the American Legislative Exchange Council. The threat alone could make the Michigan government come to its senses.

So how do I think the problems of the auto industry should be solved? This can only be done through markets, less government, more freedom, and plain old business sense. These are the kind of ideas that once made the automobile industry the envy of the world.

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 Stanford Financial Group Web Begins to Spread

As someone who lives in Houston and monitors financial articles, I have been particularly interested in the Stanford Financial story. Today, the Fox Business Channel has taken the lead on providing information on this hot topic.

Today I read that "Laura Pendergest-Holt, Stanford Financial Group’s chief investment officer, is likely to be indicted on Tuesday on criminal charges" at FoxBusiness.com. The total scope of the indictment is unknown at the time of this writing, but the article points out that "At minimum, the indictment will be on a charge of obstruction of justice, though her legal team thinks there could be a number of other charges brought against her as well." Knowing the way the government has pursued these type of cases, we can expect more, maybe many more. It is through the leveraging of these charges that the government gets pleas and information on others involved.

Pendergest-Holt is joining the firm’s founder, Chairman and CEO Robert Allen Stanford in the brewing hot water. Stanford, and three of his companies, have been charged by the Securities Exchange Commission (SEC) of orchestrating an $8 billion fraud related to a Certificate of Deposit program. Although he has not yet been charged with any crime at this point, accusations are flying and it seems to be a question of "when" and not "if" he will be facing charges. The indictment of Pendergest-Hold cannot bode well for Stanford.

In fact, the focus on Pendergest-Holt first, could be a part of the government's efforts to make sure that the bigger penalties fall on Stanford. It is not at all unusual for the government to go after the underlings in criminal cases first in order to assure a conviction and to get a heavy sentence for the ring leader.

Pendergest-Holt is the youngest of the Stanford senior executives and, at 35, may seem to be an unlikely central character in this story, but her knowledge of the inner workings of the firm and the relationships that drive it, makes her a very connected personality in this drama and a potentially attractive target to the government indeed.

Historically, an $8 billion fraud case would be considered massive and virtually unheard of; but thanks to the era of Bernie Madoff and his $50 billion Ponzi scheme, the Stanford story has largely been under the radar screen. Fortunately, Fox Business is being serious in its due diligence. Fox's prowess is a story in itself. Increasingly the new cable business network is becoming the leading network and is putting its older competitors (CNBC and Bloomberg) on notice, on the importance of being first.

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. Eric Bolling of Fox News and Fox Business says that Price’s Blog “is very influential and moves the blogosphere.” 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.

FBN Breaks the Story of Peregrine@Weeden

In October of 2007, the Fox Business Network came on the air and made the case that there was a need for competition against Bloomberg and CNBC. They continued to make that case yesterday with breaking news that should have been seen on every financial network on cable.

On yesterday's Fox Business Network, the CEOs of Weeden & Co and Peregrine came on FOX Business Network to announce that they are merging to form Peregrine@Weeden, a fixed-income sales, trading, and research firm. Their goal is to become a company with the size and reach of a Goldman Sachs.

“I believe that an equity trading firm today must not only understand the dynamics of the credit markets, but must also offer trading and research services across the entire array of fixed-income products,” said Barry Small, CEO of Weeden & Co., L.P. “In today’s markets, debt becomes tomorrow’s equity through restructuring. It is imperative that a broker offer integrated equity and fixed income trading services to its institutional clients.”

The company's own press release noted: Peregrine@Weeden will be led by Peregrine CEO, Evan Wein and will have offices in Greenwich, CT and Summit, NJ. Peregrine’s leadership team has vast experience in building and managing premier fixed-income platforms at major buy and sell side firms. Peregrine’s Founding Partners are Rick Fuscone, Evan Wein, Martyn Ball, Fred Fiddle, Jin Ho, Fady Rizk, Ron Rosenberg and Michael Temple.

“"We are very excited about our affiliation with Weeden and their extraordinary professionals,' stated Mr. Wein. 'We are committed to providing clients with exceptional service across our respective fixed-income and equity product specialties, in an expanding and sustainable partnership.' The management teams of Weeden and Peregrine have noted that the compatibility and synergies of their alliance are especially critical in today’s volatile market environment."

In my opinion, this type of story is important on so many levels. In a time when so many companies are failing and taking TARP (Troubled Asset Relief Program) money, here comes a new and private company that does not have any government or taxpayer involvement. Furthermore, financial decision makers are going to want to know about a new firm such as this as competition or as a way of growing one's own income.

A year ago this should have popped up on CNBC's radar screen and Bloomberg's as well. This indicates a real hunger by the rising leader in the business news front. This isn't a surprise though, Fox parent company News Corp has put considerable resources into the business news arena, with one of its highlights being the purchase of the Wall Street Journal.

This move on the part of FBN only heightens the competition among business news outlets. The beneficiaries of this competition are individuals who are serious about their business news and 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. Eric Bolling of Fox News and Fox Business says that Price’s Blog “is very influential and moves the blogosphere.” 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.

Future Success Stories in a Painful Economy

I have been involved in politics and business for decades and I have not seen a situation like we are in today since the late 1970s and early 1980s. It is simply a challenging time and people are having a difficult time determining what to do next.

The Stock Market is now worth less than half of its all time high and unemployment is on its way towards double digits, with the number of people filing for benefits swelling by over 500,000 in just a few months.

One of the earliest and biggest problems of such rough times is the focus of news and other business information from what works and what is positive, to some of the most negative content you can find. An excellent recent example has been the laying off of Donny Deutsch by CNBC. The reason why? The network decided that people don’t want to hear success stories (a big focus of his program) in such a dismal economy. I think they could not be more wrong. The reality is, CNBC was in financial trouble and laid off several hundred employees (including Deutsch) in a money saving effort. People don’t merely want bad news and negative information. They are demanding inspiration. I am planning on providing more such positive information on the Price of Business show in the months to come.

The reality is we are going to have some excellent things come from the currently hard times. This country is made up of entrepreneurs and many (if not most) of the 500,000 who recently loss their jobs will be providing future success stories of people who brought new products and services to the market place. They will choose entrepreneurship instead of wallowing in their difficult circumstances.

Do you have a success story? If so, I want to hear from you. Send me an email and tune into the Price of Business every weekday at 11 am on CNN 650 and on AOLRadio.com (central time).

This article originally appeared on CNN650.com, part of the CBS Radio Network.

Kevin Price is a syndicated columnist whose articles frequently appear at ChicagoSunTimes.com, Reuters.com, USAToday.com, and other national media. Kevin Price is Host of the Price of Business (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at PriceofBusiness.com. Visit the archive of past shows here.

Fox Business and News Breaks Bailout Agreement

I just received an email from Jessica Rice of Fox Business who was telling me a story that will most likely be missed by most in the media -- the role of the Fox networks in breaking the federal bailout story, and of Fox Business in particular. She wrote that "this afternoon, FOX Business Network’s senior Washington correspondent Peter Barnes was the only one to obtain the Senate Banking Committee agreement of principle outline that Senator Democrats and some Republicans had agreed upon to propose to the President today at the big economic meeting."

She added that "Barnes... had the first concrete piece of paper we saw on this outline. Additionally, this afternoon at 12:54 PM ET, after a fundamental, initial deal had finally been reached between Democrats and Republicans on Secretary Paulson’s $700 billion bailout plan, FOX Business Network beat all the major cable news networks" with this information.

Finally, Rice indicated that Fox Business "was the first to report news of the deal at 12:54pm ET, followed by Bloomberg, FOX News Channel, CNBC, MSNBC, and CNN."

Some have argued why there was a need for an additional business network and others, because of their ideological agendas, have suggested that Fox wouldn't be taken seriously. News Corp has always been a leader in innovation and journalism. From the creation of a television business news network that pursues the interests of Wall Street to Main Street in Fox Business or in its purchase of the Bible of the financial world, The Wall Street Journal.

The thing I have enjoyed in working with the network is the sense of family I have seen that is so contrary to journalism today. I have had Alexis Glick, David Asman, Jonathan Hoenig, and others from the network on the program and their genuine love for their network is seen in the way they perform their jobs and how they represent the company.

In addition to providing a sense of understanding in its concerns about Main Street it also maintains a commitment to being "fair and balanced" that is similar to its sister station, Fox News. Because we have become so accustomed to a media bias with a driven agenda, we often see Fox as "Conservative." Honestly, it is only in the context of how blatantly liberal much of the rest of the media remains.

I congratulate Fox Business on these firsts as it approaches its very first anniversary. I am expecting even more from the network in the years to come.

Kevin Price articles frequently appear at ChicagoSunTimes.com, Reuters.com, USAToday.com, and other national media.

Kevin Price is Host of the Price of Business (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

Conservative Rhetoric Wrong on Credit Crisis

I believe in the power of free markets, the importance of private property, and the necessity of limited government as much as anyone. Very few question my "conservative credentials." However, I have recently begun to question some of the rhetoric that is being used by many rather prominent proponents of free enterprise when it comes to the credit crisis.

In recent months I have had Steve Moore (Wall Street Journal), Jonathan Hoenig (Fox Business), Craig Smith (frequently on CNBC and Fox), Charles Payne (Fox Business), and others on my radio show and the topic of the mortgage situation will often come up. I typically agree with the experts on the vast majority of issues we discuss and they are among the most brilliant analysts in the media today. In fact, I even agree with them on their assessment of the sub-prime crisis, I just strongly disagree with their rhetoric.

In every case and without exemption, these authorities said that the crisis was simply due to a "large group of people who had no business buying a house in a first place" (almost a direct quote of several of those listed above). Conservatives are often accused of being elitist and it is due to statements such as this.

Who is it to say which person should qualify for a home or who should be a home owner? If you believe in free markets, that is the responsibility of the mortgage companies and other financial institutes that are willing to take the risk, not the government or pundits. However, it is also imperative that those companies take responsibility if things go wrong with the loan. The economy shouldn't have to suffer from the moral hazard being created when mortgage companies take risks and then get bailed out by the government. That will lead to businesses taking more risks, with the belief they will be bailed out in the end if it doesn't work out.

Because of the anti-consumer rhetoric being spoken by these free market thinkers, people who could get a loan no other way than through a sub-prime approach may never qualify for a loan again. Yet, the number of loans by such persons that are going into foreclosure are in the single digits. The majority of these people are pleased to own a home this way because they wouldn't have been able to get one any other way because they are self-employed. They had all the "business" in the world getting such loans, the financial institutions that underwrote them had no right to a government bailout. That should be the focus of conservative critics.

The results of this crisis are bailouts for the mega rich corporations and the future punishment of every person who needs variable interest rates loans in order to get a home. Some how, the latter is being projected as the "bad guy". Advocates of freedom should defend the individuals who were creative in their pursuit of their homes -- the vast majority who have kept up their payments. Those who couldn't pay should suffer the consequences. Meanwhile, the businesses who made poor decisions in whom they loaned money to should be allowed to suffer the consequences for their decisions. Heads should roll, companies should be purchased by others, and changes should be made internally. But prohibiting sub-prime laws publishes the wrong individuals.

The free market advocates at the beginning of this piece are largely right in their thinking. The government should not bailout bad business decision making. However, they were wrong in the rhetoric. No one, but the ones who make a loan, should say who is worthy of being financed. Not only does such rhetoric do nothing in winning hearts and minds to free market principles, it is contrary to the ideas of freedom itself.

Kevin Price's articles are found daily in national publications such as USA Today, Chicago Sun Times, and Reuters. Subscribe to his newsletter here.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review.

NYT, MSNBC, and the Convergence of Media

For quite some time I have been singing the praises of the convergence of media. The more media can combine its forces -- radio, web, print, TV, and more -- the greater the reach those media will enjoy. I recently noted another example of this with the recent joint project between the New York Times and MSNBC.


I first got word through updates from Media Bistro:

TVNewser received this internal New York Times email from an anonymous tipster, apparently detailing a new program beginning today on MSNBC. The email:

MSNBC (Check your local listings) Today at 2:00 p.m.


The New York Times Special Primary Edition, a new NYT/MSNBC political program hosted by John Harwood debuts today at 2 p.m. Guests include Adam Nagourney, Pat Healy, Jeff Zeleny, Gail Collins and other Times reporters.


This is the first in a series of special programs featuring Times journalists which MSNBC hopes to broadcast throughout the rest of the political season. Segments will also run on NYTimes.com.

We hope you will tune in.


We have calls in to MSNBC to find out more information...

More: Could this be a further expansion of the 4-month old between NYT and CNBC?

Update: The hour kicked off with Harwood and MSNBC's Contessa Brewer (not mentioned in the original email) anchoring, with the NYT's Nagourney on set. A NYT logo is seen in the lower third...

I didn't get to see it, but I am interested in seeing it in the future. It is an example of the world's most significant print publication reaching out into the electronic world of TV to find new audience. Expect more of it. It is the convergence of media and it works.

For a copy of the free audio program and free report, "Why Your Marketing Isn't Working," email Info@HoustonBusinessShow.com and put "marketing" in the subject line.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

On the Show: Craig Smith Speaks His Mind

Craig Smith of Swiss America is a well known financial advisor that is a frequent guest on MSNBC, Fox Business, and CNBC. He is one of the leading advocates for investing in gold and a strong proponent of a free market economy.

On a recent Houston Business Show, Smith took the government to task over its recent actions to bail out financial institutions and its plans for seriously revamping the regulation of such firms. In typical government fashion, Smith warns, the "cure" is going to likely be worse than the illness.

My view is that the government should do little or nothing at this time, mainly because we are not even sure how bad the damage will be. Wouldn't it make sense to "fix" our problems once we understand what those problems are? Especially since it is an election year and decision making is often driven by polls rather than common sense. I'm glad, however, that there are some with a more reasoned approach to such problems. Check out my interview with Craig Smith here and here.

For a copy of the free report, "Why Your Marketing Isn't Working," email Info@HoustonBusinessShow.com and put "marketing" in the subject line.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

Are We Now In A Recession?

You probably didnt ask for it, but it has been shoveled down our throats, we are being told that we are in a recession. I have said quite often in this blog, that I'm not buying it, and the economic statistics supports my optimism.

According to the Bureau of Labor Statistics (BLS), we maintain a ridiculously low 4.9 percent unemployment. Economists call 4 percent zero unemployment (factoring in seasonal employees, those creating their own business but still cited as unemployed, illegal business activity, etc.). There has never been a recession with this low of unemployment.

On the same BLS page we find that productivity was up 6.3 in the last quarter we have such recorded. Again, not indicative of a recession. In fact it is a sign of a booming economy.

As I watch CNBC (which is all I have available in my TV studio) I am seeing these people celebrate a recession as the Dow hoovers around -300. One of the analysts is arguing that they need to declare the recession now so the market can determine what are the best stocks to invest in. It is dishonest (it takes six months of economic decline to have an actual recession), it probably lead to poor financial planning, but it leads to great TV ratings.

I admit, today may not be a good day to invest in the market if you are faint of heart -- although there are plenty of barging out there that are worth pursuing. But there are numerous places that you can successfully put money -- in Real Estate (especially in the investment side as people move to renting rather than owning), creating your own business, and other more tangible economic activities. But it is simply too early to call this an economy in decline.

In the above video from Movers and Shakers, you will see a different spin on the economy.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

CNBC's Fox Business Channel Survey

According to MediaBistro.com, CNBC wants to know what Fox Business viewers think about the new company:

In what appears to be one of that newest CNBC viewer surveys, the network wants to know what you think of the competition. A screengrab posted yesterday on Inside Cable News by way of the Reportercaps message board showed a CNBC survey asking respondents to rate the CNBC and FBN personalities, in a rating from excellent to poor, or unfamiliar.
Some of the Fox Business anchors on the list were David Asman, Alexis Glick (formerly of CNBC), Dagen McDowell and Cody Willard.

It is interesting that news of such a survey comes from the CNBC camp rather than Fox. I expected to see such long before Fox Business was launched if, for no other reason, to know how to posture themselves in this new environment.

If I have said it before, I have said it many times, I like both CNBC and Fox Business. In fact, I'm watching The Big Idea with Donny Deutsch while working on this. But if I'm CNBC, I would be worried about Fox. The network is much more personality driven than CNBC, in my opinion and I believe most people find that attractive. It will be interesting to see how the battle between these two networks progresses.

Read the opinions of the Houston Business Show Experts by subscribing to the Houston Business Review.

Dow Breaks 13,000 Again -- in the Right Direction!

A few days ago I noted that the Stock Market broke 13,000 points, but in the wrong direction. The market is at it again, but this time it broke its way back up, all the way to 13,371.72. In fact, the last week was the best we have seen in months.

Still, with the amazing market volatility, I think Fox Business and CNBC should get Dramamine as a title sponsor of many of their programs. The wild roller coast ride called the Stock Market is enough to make anyone sick.

The recent stress in the stock market has been great news for the media. According to MediaBistro, the channels that specialize in reporting such are enjoying a surge in viewers (which is usually followed by advertising revenue). The market remains near an all time high, unemployment is incredibly low, and the economy as whole remains quite strong. Yet, you won't easily read, see, or hear such in the business media. Instead we will only by plagued by stories of sub-prime trauma and foreclosures. That's the news media we "enjoy" today.

Kevin Price is the Host of the Houston Business Show (M-F at 11 AM on CNN 650) and is publisher of the Houston Business Review. Request Kevin Price's report on the Business of Media by emailing info@HoustonBusinessShow.com.

Fox Business Network Update

The Fox Business Network has been around since October and I thought it was about time to do a progress report. My assessment is that the company is making a major splash early and could alter the ways business news is delivered. Here are a few observations:

* Fox Business, unlike CNBC is more personality driven. It is true that the latter has its "money honeys", but even as a news junky, I have a hard time remembering who they all are.

* Fox Business gives each of its shows their own unique format. CNBC is driven almost entirely by stock related news and it is difficult to differentiate their shows from one another. Fox has different environments (an actual bar for "Happy Hour") and formats (such as Dave Ramsey on "financial freedom"). CNBC, which I actually like, tends to blur between the lines in a way Fox has successfully avoided.

* Fox is multi-generational in scope. With the various settings and topics, as well as with the more youthful personalities, I see Fox Business creating a bridge that will make business news more relevant to a wider audience.

Fox is still early in its venture, so I don't want to jump to any dramatic conclusions, but my gut tells me that Fox should be good for business.

To keep up to date with the constant changes in media, subscribe to the free Houston Business Review Newsletter.

Fox Business Network Gets Interesting Endorsement

Call it what you want, but I call it "interesting" at the very least. A TV personality of one network that is being directly challenged by another network usually finds "mums the word" about the new kid on the block or choose to even get a little ugly. One personality at CNBC has had select words for the leaders behind the new Fox Business Network, but not the kinds of words that most would have expected.

According to Media Bistro, former Disney CEO Michael Eisner ((and host of his own program on CNBC) had praise for the new network's founders:

Former Disney CEO and current show host on CNBC, Michael Eisner chimed in on the launch of FBN this morning. Speaking at the Dow Jones/Nielsen Media and Money conference in New York, Eisner was asked about FBN's chances: "It's not crazy if you have [Rupert] Murdoch and [Roger] Ailes. It's probably crazy if you have two other people, but those guys are pretty good. So you can't bet against them."

Many have underestimated the Fox Business Channel and its leadership at their own demise. On many occasions I have heard people describe Murdoch (and Ailes) as "crazy." Yes, crazy like a FOX (pun intended).

The video is of Charlie Rose and Michael Eisner. Kevin Price's Houston Business Review newsletter includes excellent articles on business finance, marketing, media, and more. Get your free subscription here.

Fox Business Vs. CNBC

Fox Business Network began its business day today (sorry, I didn't mean to be redundant) and the debate is on over how big of a player it is going to be.

National Public Radio has chimed in by pointing out that one of the biggest factors is distribution. Today, Fox Business is in 30 million homes and CNBC is in 90. In the same vein, I'm a news freak (and a Fox fan in particular) and here it is launch day and I have no idea where to find the channel in the Houston market. NPR's point is well taken.

However, distribution isn't everything and there is always a curve involved with the introduction of anything new. I have already thoroughly checked out the videos online (which is where the future of TV is, in my opinion) and am certain we will see it in all the same places we find CNBC in no time. In fact, I'm sure some of the distribution "problems" are planned as the station makes sure it has reached a high level of quality as early as possible.

I like CNBC, so I do not mean this as a slight to that network. But being on many channels is only one part of the formula. Being wanted by viewers is even more important. I have little doubt that Fox Business will have plenty of demand.

Economy Keeps Growing

In spite of the general malaise that seems to be spreading in the economy, virtually everything I have read beyond the headlines focuses on good news. Sure , the headlines can seem negative, "Huge drop in lower price homes," but the rest of the story tends to be positive ("but home sales in other price ranges reach record highs").

Today on CNBC I learned that the US economy added 110,000 jobs this past month, maintaining a very low 4.7 percent. Meanwhile, the stock market's hold on 14,000 plus seems to be continuing to grow, as seen recently on Fox News. So, in spite of these great numbers, why do we keep having a slightly negative view of things?

I think some of the weakness is due to long term exposure to negative spins on what should be, positive stories. This economy has grown continuously over the last few years in spite of what the media has told us. I am grateful to the few "good guys" out there like Neil Cavuto of Fox News who points out much of the positive news that is often neglected. Consumers of TV news should keep journalists accountable by telling them their opinions and voting with their wallet by supporting companies that advertise on networks that provide a more balanced view of the news.

Bad News Means Big Business for CNBC

This from MediaBistro:

"More from the August ratings reports. During Wall Street's rocky month, CNBC's 5am-7 pm ET programming ave. raged 87,000 viewers in the 25-54 demo. According to the net, its their 'best August since 2002 and up +50% versus August 2006.'

"Other highlights are in the press release after the jump... (note too, the caveat at the end of the release about Nielsen's audience universe being limited to 'in-home' measurement.)

'CNBC HAS BEST AUGUST IN FIVE YEARS.' August Ratings More Than Tripled Since 2005, ENGLEWOOD CLIFFS, N.J., August 28, 2007---During one of the most volatile months the markets have seen in years, viewers turned to CNBC, First in Business Worldwide for fast, accurate, actionable and unbiased business news. CNBC's Business Day (M-F 5a-7p ET) had its best August in five years, and August ratings have more than tripled since August 2005. For August 2007, CNBC's Business Day (M-F 5a-7p) averaged 87,000 A25-54, hitting its best August since 2002 and up +50% versus August 2006. All 6a-7p CNBC programs had their highest August time period delivery since at least 2003."

Okay, I got carried away, but I found these numbers astonishing -- bad news resulted in big numbers for CNBC. Such numbers may have turned into multipliers for the often struggling network.

This validates a point that I make quite often in this blog. Consider these headlines:

"Why the Media Hates Bad News"

"The Half Empty World of the Media"

"When It Comes To Real Estate: Bad News or Ridiculous Expectations?"

"As the Economy Enjoys Good News, Critics Receive Bad"

Etc., etc., etc.

The rise in CNBC's numbers is directly linked to the insanity in the Stock Market. This is exactly why the media continues to do negative spins on the news. Anything to attract attention. The worse it is, the more viewers it attracts, and it is usually done in an irresponsible fashion, in my opinion.

It isn't just the media at fault, however, we reinforce their bad behavior by giving them ratings like those above. We have to say more than we are merely "tired" of bad news and start punishing them for being such passionate promoters of such by consuming media that offers more balanced and even positive perspectives.

P.S.: Do you know why August 2002 beat this rating period? It was because it was during the technology bubble burst of that year.

Fast Money MBA Spills the Beans Early

In a surprise move, CNBC's Fast Money MBA Challenge announced the winner before the show was even over. The season finale had the Texas Longhorns take on Yale and a David vs. Goliath battle. I, of course, was rooting for the home team of Texas.

About half way through it appeared that the Bulldogs had won. Than it was announced that the two teams were going to have $100,000 (to Texas) and $110,000 (to Yale, because they had the lead) in stock market picks and the results would be announced after 6 weeks. For what ever reason, I decided to visit the website and there it was announced that Yale won the $200,000 prize.

I don't know how this happened. Was it a mistake? Was it meant to emphasize the power of the web? I have no idea. I would think that CNBC would want as much attention as possible for the TV show as possible. But they chose a different strategy. The person who came up with such an approach should consider going back to school for him or herself.

CNBC to Fox Business: We Are Ready

According to a recent Media Bistro ezine:

In today's Hollywood Reporter, NBCU's Jeff Zucker confidently reveals how CNBC will handle the arrival of Fox Business Network: "We're not going to make the same mistake CNN made when Fox News Channel came along a decade ago. We'll be strong and aggressive and continue to prove what makes CNBC by far the leading financial news broadcaster in the world."Zucker continues, "I think there is a degree of irony that the company that broke the story that Rupert Murdoch wanted to buy Dow Jones was CNBC."

Obviously Murdoch could have broke that same story and chose not to and this story reminds me of the saying that "pride comes before the fall." I don't think CNN fell over and played dead, but simply tried to down play the significance of the rival at their own peril. I believe Fox won the content war more than the personality battle (although I generally prefer Fox's people). I also think the quality of people that Fox brings will be better than what CNBC currently offers. We will have to wait and see.

With Fox's purchase of the Wall Street Journal, will the Dow Jones Industrial Average become the Fox Business Industrial Average? I'm dying to see a CNBC reporter say something like that.