MediaFile

Fox Business claims weekend OT

September 30, 2008

Ask any business reporter covering the financial crisis what they were doing this weekend — the answer is probably not “mowing the lawn” or “doing things that don’t involve work.”

The folks over at Fox Business Network is playing that to their advantage. A new ad, first reported by TVNewser (we think), points out that FBN was broadcasting live news this weekend while brand X, the much larger and older rival network CNBC, was mainly running taped broadcasting.

That said, CNBC was live on Sunday night with a two-hour special, but FBN is taking credit for running live coverage on Sunday morning, reporting that crucial progress had been made in Washington on the $700 billion bailout plan. At the time, spokeswoman Irena Briganti said, CNBC was airing a re-run of Suze Orman. Briganti said FBN also was running live for several hours on Saturday and Sunday while CNBC was not.

The bottom line, according to Fox? “We own this story.” The bottom line, according to CNBC’s Brian Steel? “Judging from our measured ratings alone, which does not include the most affluent homes and out of home viewing like trading floors and C-suites, we know Wall Street, Main Street and the investment community around the world are turning to CNBC and CNBC.com.” In other words: “we think we have more viewers.”

Here’s the ad, which ran in today’s New York Times, Wall Street Journal and on CNBC itself, at least within the New York City area on Time Warner’s cable system.

(Photo courtesy of Fox Business News)

Comments
4 comments so far | RSS Comments RSS

Viral Needed!

The Ben Stein Proposal

On Larry King Monday, ( 2008.09.29 ), Ben Stein proposed that instead of rewarding the banks, who caused this situation in the first place, that Congress should simply give the money to us. ( $700B / 300M Americans = about $2,333.33 ea. ). Americans could use these funds to help pay off those bad loans, which means that some of the “bad paper” would now become “good paper”, thus benefiting some of the banks.

Those banks most able to recoup from this would be the ones not overextended in the bad credit/loans in the first place. Those most overstretched would go under anyways — as well they should. The whole issue of Golden Parachutes becomes moot.

Those of us Americans who are not in this category of having bad mortgages or credit could simply spend the money, which would boost the economy as a whole.

This is not perfect nor without faults ( like inflation ), but it puts Main Street out ahead, before those lending institutions who created this mess. In the Monday’s proposal, Congress would have saddled the American Public with a $700B debt, while still enforcing those bad loans on everyday-America – and not offering much, if any, relief for them.

We need to do Ben Stein’s proposal. And the clock is ticking.

Please forward this to as many people as possible. This needs to go viral. Let Congress know, that you believe that Americans should get first dibs on their own money!

Posted by wolf | Report as abusive
 

this seems like a giant game of monopoly. and someone let their 2 year old sibling be the banker.

oh I take that back, a 2 year old probably would have stopped the game when the money ran out!

Posted by John | Report as abusive
 

Is it business journalism or journalism business?

 
 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/