Discussing economic prosperity and more on Fox News

One of my favorite programs is Fox News' Strategy Room and I enjoy spending time on that program almost as much as my own, the Price of Business. The host of the hour I was on, Eric Bolling, has this unique knack of focusing on the consequences of government policies in a manner that is uncommon among many media personalities today. This may be due to the fact that his knowledge does not end with a traditional journalist education, but years of experience of working in the business world in general and the rough and tumble world of commodities in particular.

The "Biz Hour," which Bolling hosts, is also referred to as the "ADD Hour," because he covers a plethora topics. It is a true "strap on your seat belt experience" as we travel the world of the day's headlines.

Some of the issues we covered:

• Tax cuts vs. tax credits. The President has been emphasizing short term and often politically convenient "tax credits," when what is actually needed are deep and across the board tax cuts, if we are serious about creating more jobs. There are, of course, various types of tax cuts. "Demand side" or "consumer driven" tax cuts are geared towards the middle class. They are designed to increase consumer demand, but in an economy such as this, they are used to pay bills and little else. This is why they have little or no impact. Supply-side tax cuts, made famous by Calvin Coolidge, John F. Kennedy, and Ronald Reagan, are across the board and proportional in their reach. These cuts lead to significant wealth (and job creation).
• Banking regulation. Many liberals are complaining that lending has become too difficult for poorer Americans. I know, it sounds like the banking crisis all over again. These same individuals who believe that those who do not deserve a loan should get one are typically hyper critical of entrepreneurs who seek one, even if they are credit worthy.
• Government attitudes towards small business owners. This Administration seems to pity the poor and wants more of them and it desires mega corporations because they are easier to control. What the Obama Administration seems to despise are the small businesses and entrepreneurs that drive the vast majority of job creation in this country.

Strategy Room combines the best of traditional TV and online programing. It provides nationally known media personalities, such as Eric Bolling, but allows the public to serve as a "co-host" by driving questions via email, Twitter, and other online sources. Strategy Room may very well be the future of talk show programming.

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

Disscussing why States Prosper on Fox News Strategy Room

I always enjoy the opportunity to join the panel on FoxNews.com Strategy Room. This being the week of its first year anniversary of that program made it all the more special. On the show we covered many things, including why certain states prosper and why others do not. I knew exactly where the conversation was going when the Host, Eric Bolling started discussing the decline of Detroit and other historically industrialized cities and out of no where he started naming states (mainly in the South) that seem to be enjoying economic growth. He asked, "what do these have in common?' The answer was simple; they are Right to Work states.

Right to Work states allow employees to choose whether they join a union, while closed union shop states make union membership compulsory. How significant of an impact does such have an economy? A report by Steve Moore of the Wall Street Journal and best selling author Arthur Laffer, published by the American Legislative Council, indicates that it is huge. The authors do a thorough investigation of why the ten richest states have prospered and why the ten poorest have struggled. The report covers ten years, 1997 to 2007.

The states that have enjoyed the most prosperity over the last decade, according to the study, are Utah, Colorado, Arizona, Virginia, South Dakota, Wyoming, Nevada, Georgia, Tennessee, and Texas. On average, these ten states witnessed an 85.1% increase in the states' gross state product growth, an 87.9% increase in personal income growth, a 55.9% increase in personal income per capita growth, and a 20.4 percent increase in population growth.

On the opposite end of the economic spectrum you have Hawaii, Pennsylvania, California, Illinois, Ohio, New Jersey, Maine, Rhode Island, Vermont, and New York. These unfortunate states have only seen a 59.3% increase in the states' gross state product growth, a 60.7% increase in personal income growth, a 52.3% increase in personal income per capita growth, and a mere 4.4 percent increase in population growth.

There are several similar characteristics between the rich and poor states in one area in particular, which is in the policies they pursue. For example, all but one of the winners are Right to Work states (Colorado). Meanwhile, all of the losers are under force unionism. When unions (and their higher benefits, wages, and other labor expenditures) are a fixed cost of doing business, those states are simply less attractive, which leads businesses to businesses moving to more business friendly states.

It doesn't stop with unions. The ten losers are noted for having excessively high taxes on businesses and high income earners. When these income earners feel such pressure, they know they cannot always "fight" the policies effectively, so they take "flight" to states that are friendlier to business and wealth creation. Furthermore, the losers are known for more excessive regulations than the winners, another cost in time and money in building a business. Finally, these losers often have crippling licensure laws that undermine entrepreneurship and economic activity. Laffer and Moore's study goes much further by examining several "principles" of effective taxation and shows huge disparity between the winners and losers. The bottom line is that some states create an environment that is more business friendly. As a result, those states enjoy lower unemployment and higher economic growth.

The results of the states that ignore the ability of businesses and the affluent to flee such policies have led to a huge decline in both prosperity and even population growth in the "loser" states. The study should be read by policy makers, business owners, and individuals who want to live in states of prosperity and not poverty.

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.

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.

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.

The Eclectic Format of Strategy Room Biz Hour

Every time I am a guest on FoxNews.com's Strategy Room, I am amazed about how much territory we cover. The Biz Hour, hosted by Eric Bolling, is an eclectic program that, on the surface, would make people wonder, "What does this have to do with business?" Having been on the program several times, here are just a few of the topics we have covered:

* The demise of the domestic auto industry

* Somali pirates

* The volatile stock market

* The Iran and North Korea nuclear threat

* and socialized medicine

This some what "scattered" approach is one that I have long taken when it comes to the Price of Business show that I have hosted since 2001. All of these issues are our business and if one is not aware of them, it could greatly affect cash flow. That is why my radio program spends so much time dealing with politics. Government is increasingly the "meddling partner" who is regulating and taxing many entrepreneurs out of business. They need to know what is coming from Washington, DC and what it will do to their enterprises.

Same is true with the many other headlines we address. How does the threat of nuclear war between India and Pakistan effect business owners here in the US? Thomas Friedman points out, "plenty," in his book The World is Flat. In 2001 those two nations appeared very close to engaging in such a war and business owners in the West were concerned how this would disrupt their inventory of goods they depend on. US business owners got on the phone with Indian vendors and said, "sorry, but we are going to have to look at the Pacific Rim for sources, your potential nuclear war is placing a strain on my business." This seemed to be happening all over the country and business owners got on the phone and gave the Indian government a reality check, which contributed to cooling heads prevailing and a toning down on the rhetoric. Who would have thought, "nuclear war and your business" as a show theme. That is the reality that we live in today. The "Biz Hour" of Strategy Room understands the link between the headlines and your business more than the vast majority of shows in any media.

Another essential element to the success of Strategy Room is how the program draws heavily on its audience for its direction. The audience tells Bolling and the other hosts what they want and they expect it now. Being a guest on that program, therefore, is not for the faint of heart. It is a program that attracts generalists who are comfortable covering many different areas, a dying breed in a world of specialists.

I believe that Strategy Room in general and the Biz Hour in particular are trendsetters that will profoundly affect all news programming. Recognizing the big picture, hearing the interest of the audience, accompanied by solid generalists who understand the larger context, make for an excellent business show.

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.

Fox Business to Tackle Red Ink

This morning I had the opportunity to visit with one of my favorite broadcasters, Eric Bolling of Fox News and Fox Business, for this blog. The purpose was to learn more about his fascinating career that has included professional baseball, being one of the world's largest commodity traders, and his work in cable business television. He began that TV career with CNBC and is has been a pioneer at the Fox Business Network. I will be going more into Bolling's story in a future article. For this piece, I want to mention that Bolling will be one of the many Fox Business personalities who will be involved in the coverage of what the Network is calling "Red Ink Week."

In a press release, the "Fox Business Network (FBN) declares the week of June 1st 'Red Ink Week.' The American government, and so the American taxpayer, is now drowning in red ink. How much of this will be billed to your family and your future generations? Have we ever seen anything like this before? Has anyone? Do we have a reasonable expectation of getting out of it?" What I appreciate about this is that the network is taking this subject on with the passion it so greatly deserves. There is no "dry" detachment like the subject of a history book, but the sounding of an alarm, which is so greatly needed. The network has our attention, the burden on them now will be to help us calmly navigate through our national challenge.

The press release went on to say that "FBN will have a full five days of coverage dedicated to uncovering how the government is spending taxpayers’ money and what the long-term implications of the auto industry and bank bailouts will be for taxpayers of today and tomorrow. Politicians, industry experts, and business leaders will be on hand to go through the line items and discuss how much of this will be billed to our families and future generations." It is refreshing that the network will be focusing on where these policies are having their biggest impact. They are studying the financial institutions, factories, and main street businesses being pounded by government action and the people who work in these actual industries. It is important to get the perspective of policy makers, but it is more important to see where these policies are showing their biggest impact.

The coverage begins Monday, June, 1st through Friday, June, 5th at 7 PM Eastern Time. If you have money, you are going to want to watch this programming.

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.

Socialized Medicine on Strategy Room

My second appearance on Strategy Room (FoxNews.com) this past week moved to a topic that hits close to home to me -- socialized medicine. Eric Bolling had already navigated the panel through his 3 PM hour through a plethora of topics and they were primed by the time I got on the show.

My mother came right off the boat from England. She was a war bride who left her family to join her spouse in the United States. She was young when she did this, a mere 18 years old. Maybe, as a result, she was one of the biggest fan of England you would ever find. She would go on and on about the "virtues" of British socialism and how "terrible" it was that people in this country were responsible for their own health insurance. Having had visited with members of my family in "the old country" many times over the years, my instincts tell me that my mother would have likely had a very different view of British socialism if she lived under it.

My aunt (her sister) use to tell me how such a huge portion of every paycheck was devoured by the socialized health care system, she was amazed by the large number of people who were subsidized to not work, and was disgusted by how it became almost impossible for the average Brit to buy their own home. Regarding health insurance, she said national health care is "great until you need it." It provides "enormous peace of mind" until you actually get sick. Ironically, this aunt eventually died in the British health care system. She was diagnosed with cancer and could not believe how slowly the government dragged its feet in her treatment. Things were even worse when it came to my grandfather when he became ill. Doctors informed my family that treatment options were "limited" because he no longer paid taxes. My aunt was convinced my grandfather died because of the rationing of health care (a common problem when the government controls or owns anything).

This anecdote hits close to home, but the facts support her argument that socialized medicine does not work:

• According to England's own National Institute of Health, eleven percent of the population of England has very expensive private health insurance. This allows them to get treated as a person, rather than a crowd, and to be able to hold their doctor accountable in a way you can't have when the government is your vendor.


• In countries such as Canada it is common for people to head to the US for much of their health care (particularly urgent). Many individuals will go to a veterinarian to get tests, like MRIs, because the waiting lists are too long with government doctors.


• In Australia's socialized health care state, more than half of the population has private insurance.


• More than 60 percent of innovations in health care are from the United States with a much smaller part being carried by the rest of the world. If the US chooses a socialized system, innovation will be severely damaged because it is the incentives in our system that promotes changes and improvements.

One of the best discussions I have had on the subject was with David Asman of Fox Business when he was a guest on my show (then called the Houston Business Show). While visiting in England his wife had a stroke and barely survived. Because of his resources he was able to get her the best care possible in that country, but concluded that an indigent person in the United States has a better opportunity for recovery than the best insured in England. The harsh reality is very simple, why would we believe that a government that can do so few things effectively, could handle the huge task of providing for all our health care needs?

Kevin Price is Host of the Price of Business, the longest running show on CNN 650 (M-F at 11 am), AOL Radio, and CBS 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.

Can Obama Lead in the Real World on Fox News Strategy Room

One of my favorite media activities is to spend time on FoxNews.com Strategy Room. Eric Bolling hosted my time on and, as usual, we literally covered the entire map of headlines, with a heavy focus on international affairs.

One of the brilliant ideas behind Strategy Room is that its panelists are made up of well informed policy generalists -- a dying breed in media, but one of the most important if the objective is to provide a contextual understanding of what is going on in current events. It provides a well informed discussion that the general viewer can appreciate.

This week's big focus was how Barack Obama was handling international affairs. Of particular interest was Obama's encounter with Hugo Chavez of Venezuela. Most Americans were shocked by the warm "Kodak moment" between the leader of the free world and a vicious dictator. The panel's assessment was largely negative, but ranged from the more benign "sophomoric," to one of being revealing of Obama's view of the dictator. Some simply stated he "didn't know what he was doing" and he approaches things as an "academic." I believe that he approaches the job with one of the most frightening examples of "on the job training" I have seen and, at least appeared as a man who felt some affection for Chavez. To make matters worse, 24 hours later Obama allowed himself to pose with Chavez giving him a book that decries the US role in Latin America (“The Open Veins of Latin America: Five Centuries of the Pillage of a Continent,” by Eduardo Galeano). The old adage "first time, shame on you; second time, shame on me" certainly would have worked for him this week.

Strategy Room also discussed the problem of Iran's development of a nuclear missile program and the fact that the days before Israel takes unilateral action are numbered. Simply put, Iran President Mahmoud Ahmadinejad has made it clear, he believes Israel is a nation that should not exist. Israel cannot afford to do nothing while Iran becomes more dangerous. In our discussion we reviewed the fact that we do have history of Israel taking a similar action (in 1981 against Iraq for the same reason s as they would attack Iran) and that although the world largely complained, the US grumbled lightly and gave a collective sigh of relief. In 1981, Israel only had to fly through Iraq's air space. To attack Iran, it is believed they will have to fly through Iraq's air space again, which is now under US control. How will Obama respond to unilateral action? Candidate Obama made it clear that the protection of Israel is a US priority, but he has done nothing to remove the pressure on Israel to take action (which would be in the best interest of the entire Middle East). George Bush didn't help in this area either and every request Israel made on both Presidents have fallen on deaf ears. Conclusion? Obama is too much of an unknown, he is clearly inexperienced, and none of the panelists wanted to make a leap and determine what this Administration will do in regards to Iran.

Strategy Room is one of the most diverse and entertaining news programs on any platform: TV radio, or online. It is because of its slate of great hosts and eclectic group of panelists that thousands regularly gather around their computer screens, rather than their televisions.

Kevin Price is Host of the Price of Business, the longest running show on CNN 650 (M-F at 11 am), AOL Radio, and CBS 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.

Strategy Room Tackles the Tea Parties

While the vast majority of news programs have treated the Tea Party movement as a fad or phenomenon beyond comprehension, there has been very little serious discussion by the media about what this grassroots effort is all about, what motivates them, and what is its long term potential of being a serious force in the years to come. Until now. On FoxNews.com Strategy Room today, we dealt with that exact topic.

Eric Bolling, who hosted the hour I was on, asked some provocative questions that require individuals to think a little deeper about the direction of the Tea Party. They were the kind of questions that Conservatives in media tend not to ask because of their euphoria that such a movement exists and Liberals won't discuss because they are choosing a strategy of simply ignoring such efforts.

Bolling asked the panel:

• Is the Tea Party made up of future or current tax defectors? At first, I found this question surprising, because I hadn't event considered it as a possibility. Then again, I have been approached by people who are beginning to speak in those exact terms. It is hard to tell whether such individuals are joking or if they are seeing the failure to pay as a viable form of protest. In my opinion, if this movement gets noted for such action, it will be dead in the water. I agree with the majority who believe that the federal government has grown out of control and that it is mismanaging our money. On the other hand, like most Americans, I don't believe in lawlessness and the base of this grassroots effort will be quickly discredited if it moves in such a direction.



• What should the Tea Party stand for? This is a very important question and is one that provides the kind of soul searching that the movement needs to ask itself. My concern is that the movement becomes purely a tax revolt campaign when the problems facing our country include so much more than that. Excessive regulations, licensure laws, the perversion of the political process (e.g., moving the Census Bureau to the White House), and state rights are just a few of the items that should be front and center of all our political lives. Taking a multi-issue approach will help protect it from the image of merely trying to help the rich and will broaden its appeal.


• Should Tea Party members be expected to put their money where their mouths are? Virtually everyone has received or is receiving some form of refund or rebate from the government, what is the "right thing" for Tea Party members to do with such? In this lively discussion, Bolling suggested sending the money to a select charity. In my opinion, the dollars should go to transform the Tea Party from an angry mob into a vibrant organization. Although it was suggested that if any of these participants keep the money, they will be hypocrites, I have a slightly different spin. I believe that the Obama Administration is going to tax people well beyond any check they receive from the government. Inflation alone will devour any savings they may receive. I believe a case can be made for keeping such rebates to offset other government related costs.

The debate is on whether the Tea Parties are going to be a major movement or a mere blip on the political radar screen. Ironically, asking tough questions, like those raised on Strategy Room, will play an important role in making it a meaningful and lasting effort. Only through such questions will the Tea Party find its identity.

Kevin Price is Host of the Price of Business, the longest running show on CNN 650 (M-F at 11 am), AOL Radio, and CBS 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.

Strategy Room: More Reasons Big Media Should Fear the Little Screen

Today I had the opportunity to be a guest on my favorite show, on the little screen, Strategy Room on FoxNews.com. Eric Bolling did a fantastic job of leading his panel on the "ADD Hour" (as he likes to call it) on exploring Somalian Pirates and more on today's program. The group of panelists were diverse, the discussion was lively, and Bolling maintained that perfect balance of letting it "rock and roll" without losing control

One could easily retort about my claim that the show is a small screen phenomenon by saying, "maybe, but only because it is on the small screen." In reality, with the exception of those who play with the carrot with the smiley face that is something of a show mascot, this program is very similar and better than those that enjoy a big screen presence. It is the fact that it is on the small screen that it is a threat to other traditional media.

The number of quality channels that people have to choose from are virtually without limit. We have comedies, dramas, documentaries, current events, reality etc., etc. etc to choose from. It is true, we have similar "limitless" programming online, but few have the quality of Strategy Room when it comes to competing with the big boys. Very few indeed. There are Strategy Room from 9 to 5, Monday through Friday, there is the new FoxBusiness.com Live, and the CBS News' Washington Unplugged (which is a high video quality, but terrible in its editorial bent). Other than that, most programming is amateurish or not unique to the Internet (shows that have appeared elsewhere on TV, but archived online).

I believe Strategy Room has a further edge over the other few uniquely Internet based programs -- the number of hours it is on. With the program running 8 hours a day, people have all the reasons to stay with it throughout the day. It dominates the Internet. Increasingly, people may channel surf on their TVs , but won't think about touching that web channel, since they are getting big screen quality on the Internet, for what often feels like "non-stop."

Kevin Price is Host of the Price of Business, the longest running show on CNN 650 (M-F at 11 am), AOL Radio, and CBS 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.

Fox is Secretly Creating New Networks

What started as something of a whim has grown into a media phenomenon that promises to change the way we get our news. The Strategy Room, a FoxNews.com online streaming TV program that has the look and feel of a typical cable news program, came on the scene during the 2008 Presidential election because there was simply too much political news to be covered by the network. I don't know if the architects of the program knew it at the time, but they were creating a bridge between traditional and new media that was both exciting and profound.

Often, when I am working on my computer, I play Strategy Room behind the window or document I am working on and click to it when they bring up something of interest. When I find myself watching closely, I almost get lost in it and forget that it is a web based show. Fans of new media like myself love it and say "thank you very much," but one has to wonder whether it is in the network's own self interest. I think it is, because the move to online is inevitable. After all, the show has great talent and a professional set, but the big costs to creating a network are the distribution costs. An online program like Strategy Room does not have such problems. However, it seems such moves only weakens the legs of traditional networks, but the power of the Internet leaves them little choice. Fox News seems to understand they are in the information business, more than TV. That will keep the network relevant.

Eric Bolling, who hosts one of the Strategy Room hours has been a guest on my show and we discussed the program's reach. "It is really amazing," he noted, "we often get thousands of emails from people around the country -- and world -- who are wanting to interact with us on the news." The lines between old media and new are only becoming more blurred. He told me that most at Fox were under the impression that Strategy Room would fade away after the elections, but its popularity demanded for it to stay.

It doesn't end with Strategy Room, however. When you get to the site and the actual streaming you find that your options don't end with the talk show. If a governor is being impeached, you see the proceeding live. If a stimulus package is stuck in the Congress, you see it live. If another Obama apointee is trying to explain why he or she doesn't have to pay taxes, you see it as it happens. These additional views probably cost very little for Fox to produce, because the networks already have cameras at these locations, but they make it easier for viewers like myself to stay with the site so I can keep up to date on what is going on. With C-Span you are having to bounce bank and fourth between channels. With Strategy Room, it is all there and one click away. Furthermore, you can also find Fox News Radio conveniently located there and for those who only want to focus their eyes on their work, it is excellent alternative. I am expecting the network to only add "more channels" as it goes along.

There is also a very high likelihood that other TV networks will create similar web based platforms and online channels of their own. Furthermore, this move by Fox only makes it easier for up start new media entrepreneurs to compete against the major players.

The only down side to Strategy Room is that it has yet to find a way to monetize the network. Currently, all the staff have to make themselves available for all the network's news programs, so I don't believe there are additional salary demands in the talent area. But there are costs for those involved in production and the show runs 9 hours a day (from 9 am to 6 pm Eastern). I would think that it would be fairly easy to make it profitable. Yahoo Music does short breaks and plays an ad and there is room for labeling on the big screen TVs in the room or even at the table they sit at. I am only assuming that they are making sure they are in a position to make a long term commitment to the concept. It is pretty safe to assume they will and I believe new media will continue to improve because of it.

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.

Will CBS 60 minutes Get a Pass on the Oil Boom?

This past Sunday 60 Minutes (CBS) did an "expose" about the forces behind the explosive increase in oil prices. Unfortunately, they limited their discussion to mere oil speculation and missed several other factors that drove prices up. A few of them include:

• The rapid drop in the value of the dollar since 2001. There has been a 40 percent drop since that time. This alone would lead to an increase in fuel costs.
  
• People seem to forget that the wars in the Middle East are in the heart of where oil is produced. It doesn't take a rocket scientist to understand that the possibility of disruption can lead to an increase prices.


• Since 2001 there has been a rapid increase in all commodities, not just oil. Some of those commodities have seen a bigger increase than oil. Is there collusion going on in all these industries or are there simply larger business pressures playing a role? 60 Minutes didn't even consider this possibility.
  
• 60 Minutes completely ignored the link between an expanding economy (which increased the demand for oil and therefore led to higher prices) and the recent recession (which has decreased demand and recently led to lower prices). This is something that would be covered in a high school economics class, but again ignored by 60 minutes.


• There was no mention in the dramatic change in geo-politics since September 11th, 2001, including the rise of al-Quada, the growing hostilities in the Middle East, the disdain of Hugo Chavez of Venezuela towards the US, and the Nigeria crisis that has led to a disruption of supplies. These are among the factors that 60 Minutes did not even consider.


• Then there is the rapid economic expansion of China and India that has only added to the demand on every commodity (as mentioned earlier), including oil. Again ignored by 60 minutes.


• High prices in fuel led to a dramatic decrease in travel in the US by several billions of miles. This has led to a decrease in demand and a decrease in prices. This further proves that there was more than mere speculation involved in the rise of fuel prices.

These are just a few of the things 60 Minutes didn't address. One can easily go on, unless you have an apparent agenda like CBS. So far, virtually everyone in the media has given the network a pass, with the rare exception of Eric Bolling at Fox Business. Currently he is one of the only serious financial journalists to address the poor reporting by CBS. Maybe most journalists simply didn't watch the CBS program or maybe they don't believe they should hold their fellow news journalists accountable. All I know, is that the news industry needs to be held to a higher standard.

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.