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.

Diane Sawyer Provides Sigh of Relief

After Barbara Walter's scandalous and embarrassing book Audition (which would better be described as "Outrageous"), I'm sure virtually everyone who knows anyone that is a media personality is holding their breath. Walter's casually exposed relationships that she had been discreet about for decades, exposed things that she agreed to keep in confidence, and did more to damage her career in a few weeks than all her adversaries combined did over years.

Concern of other "tells too much" (more honest than "tell alls", in my opinion) have been eliminated when it comes to at least one major media personality. Diane Sawyer, a former White House aide who has dated and has known well many major characters in history would be, I'm sure, one with much to say about those individuals. She has tastefully decided to keep that information to herself according to MediaBistro and TV Week's Insider Q&A. Much of this has to do with her love of her morning show, Good Morning America. According to MediaBistro:

"She'd like to increase, "if I can, some of my specials in prime time;" and that she doesn't keep a diary, so don't look for a memoir. The Insider: Speaking of looking back, it's been a week in which Barbara Walters' memoir has made headlines screaming from every tabloid show and cover. Can you envision writing a memoir?

Ms. Sawyer: No.

The Insider: Can you envision having to promote a memoir?

Ms. Sawyer: Ummmm, no. But I don't keep a diary. I don't tend to assemble things. I also don't have Barbara's amazing history. I think she has written such a beautiful and courageous book, because she and I had a long lunch about her book and what she was doing, and I know that she did it in part because she thought, "Here all these years, people have let me into their real lives, but I can't write a book that isn't about my real life."

Sawyer has a decidedly different spin on the Walter's book, than I do, but it is clear that we can't expect a book from Sawyer. At least not any time soon. I would prefer she would argue "good taste," rather than lack of personal history, but I'm glad to see that another trash book won't be making it to market any time soon.

According to recent surveys on marketing, most advertising attracts sellers (others who want you to buy more ads) and not buyers. Do you want to know why? Email info@HoustonBusinessShow.com and put "marketing audio" in the subject line and we will get it to you.

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.

What I Learned About Morning Television at the YMCA

I make an effort to go to the YMCA 3 or 4 times a week about ten weeks a year. Seriously, I go fairly often, but rarely in the morning. It is usually between 9 and 10 PM when my younger kids are in bed and the older ones are available to watch them. When I do go during the day it is usually after 9 or 10 AM because I have a hard time getting going earlier and I hate the pre-work crowd. This morning I found myself dressed for the gym at around 7:15 after dropping off my kids at school and a very busy day in front of me, so I decided to go ahead and get the Y behind me or I wouldn't likely be able to go at all.

These days I am focusing on the treadmills and as soon as I walked in I noticed that the long line of treadmills had many more bodies running, walking, and fainting on one side of the room over the other. I kind of felt left out, all that was left for me was the five empty treadmills at the end. I reminded myself that I should be happy I could get in at all and went straight to work. When I looked up at the TV screens I noticed that the channel nearest me was CBS (The Early Show), the channel after that was ABC (Good Morning America), CNN was next, and then finally, where the huge crowd was I found NBC. The ratings companies have said that the Today Show dominates the mornings, I began to think I had evidence of this on a very personal level. Almost everyone, even the poor soul next to me who looked like she was going to need to see a chiropractor from straining to watch NBC, was focused on Today.

I used my time to see what CBS and ABC had to offer. The first thing I noticed is that these shows are now virtual clones of Today. They have somewhat similar personalities, Harry Smith (photo above) from CBS seems to now be using Matt Lauer of Today's tailor. When the Today Show is outside with the crowd, so is CBS and ABC. When the Today Show team is on the couch, so are the the personalities at ABC and CBS. If I were one of the personalities on ABC or CBS, I would take it very personally. The only difference is that CBS puts a much stronger emphasis on local news than the others, other than that it looks like "NBC and the Wannabes."

Something I noted that was interesting is that Good Morning America is trying to incorporate Web 2.0 ideas into the show itself. They showed a video of some kid riding a skateboard inches from a police officer on a handrail. That police officer pushed the kid in the bushes near by because it wasn't safe for either one of them. The question, posed on the Web of course, was whether the response was appropriate. The hosts asked a guest to weigh in and they wanted the response of the audience to his comments. It was an interesting way to encourage audience interaction and it appears to be one that is used fairly often. It isn't, however, enough to make me stop watching Today.

I have said before, I don't really understand the attraction. I use to be a strong Good Morning America fan for years. Until I figure it out why I like Today, I'm going to either have to get to the Y early or make sure I go after the Today Show is over. With the continued expansion of the show through out the day starting in September, I might develop a huge weight problem.

Is "Head On" the Pet Rock of Health Care?

I was watching the news (ABC' Good Morning America) this morning and the topic of "Head On" came on the screen with the irritating commercial of the lady applying, what looks like lip baum, repeatedly to her forehead and the announcer telling us "Head On, apply directly to the forehead." He says it enough times that the typical viewer will get a headache.

I, like many others, wondered if it worked, especially since I noticed it recently removed the claim that it "cured headaches." It has over 6 million in sales, isn't that the necessary "proof in the pudding"? The news report was very inconclusive, finding some that said it helped, others who said it didn't, and others still who said it made their headaches worse.

In the end, the report noted that the number one ingredient to Head On was wax. That's certainly a little suspicious and it reminds me of the good old pet rock, which may have more therapeutic value for headaches than Head On. How? If you apply a pet rock "directly to the forehead" hard enough it might knock you out for a while and give you a break from your headache. I'm not recommending this, of course, but it is a thought.

My instincts are telling me that you might want to save your Head On and put on the shelf next to that pet rock you bought in 1975. They both could make excellent conversation pieces.