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October 15, 2007
Jake & Fox Business Network Launches
Seraphic Friend Jake Novak is hard at work as a producer over at the new Fox Business Network. That's why his fine and insightful comments have been appearing with somewhat less frequency here on Seraphic Secret.
We forgive Jake, and wish him and the new network the best of luck, and great ratings.
Anyway, we just received this e-mail from Jake and proudly pass it along to all our friends:
Fox Business Network launches this Monday, Oct.15th. My show will be the 12-2pm show Eastern Time, (9-11pm Pacific).
We have been working around the clock to provide viewers with business news that won't scare them off, won't confuse them, and won't bash people for the "sin" of wanting to make money.
That said, all the editorial aspects that will set FBN apart will not be in place on day 1. We need to focus on getting "clean shows" on the air. Also, expect the news media to tear us up considerably in the papers on Tuesday. But right off the bat, expect to see a network and a show, (my show), that celebrates the capitalist spirit that made and maintains America and her people.
Posted by Robert J. Avrech at October 15, 2007 11:38 AM
Comments
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As one who trades futures on a daily basis....I can tell you that FOX Business is a breath of fresh air.
I for one am tired of seeing CEO's come on the air to hawk their stock.....or blathering on with little insight...if you watch CNBC, that is what you see.
I was really impressed with FOX when I saw a segment from the Chicago Mercantile Exchange. The reporter, Jeff Flock, was telling the audience the importance of the futures markets and the impact it has on our daily lives.....since prices for our much that we consume is set in the trading pits of Chicago....
I have never seen ANY NETWORK make this statement....it is one I give on a regular basis when I get asked about futures and futures trading.
Sure I expect things to be rough....but certainly CNBC is watching.....they are already copying the terminology used by FOX.
All the best Jake....
I know myself...and lots of others will be enjoying the change.
Posted by: Lance at October 15, 2007 03:15 PM
Warning: Shameless self promotion below.
Jake: Congratulations! Story idea: Doctors who are trying to bring market forces to medicine by working for their patients, not for insurance companies. Have your people call my people.
(I don't have people....)
Posted by: Albert at October 15, 2007 03:35 PM
Congrats, Jake!
Posted by: Jeremiah at October 16, 2007 01:45 AM
Best wishes, Jake! VH
Posted by: MAJ Virgil Hilts at October 16, 2007 03:22 AM
Thanks! A decision I made was mentioned in a snarky NY Times review of Fox Biz this morning... and it actually was one of the things in the piece that was not so nasty:
"CNBC began its midday program, “Power Lunch,” with a standup inside the Four Seasons, a Manhattan restaurant patronized by the likes of Peter G. Peterson, chairman of the Blackstone Group, and Barry Diller. FBN at noon flipped to a live shot inside the Mall of America in Bloomington, Minn."
I did this because the Malls are the REAL markets. The consumer is 70% of the U.S. economy. There are probably about 80,000 brokers total in this country. How many shoppers?
Posted by: Jake at October 16, 2007 03:35 AM
I'm going to have to start taping this! Sorry I missed it.
Congrats, Jake, and I wish you tons of success.
Posted by: Dr. Carol at October 16, 2007 06:07 AM
Jake...congratulations!
As I'm sure you know, TV business news has increasingly-serious competition from the Internet as well as print media. I think TV is a very time-inefficient means of getting current news about specific companies, getting national economic statistics, etc. Some areas where I think TV *could* be helpful are:
1)In-depth interviews with insightful and sometimes contrarian people, like BizWeek's Mike Mandel.
2)Analysis, rather than just recitation, of economic indicators. How many people know how the CPI, for instance, is actually calculated and what the implications of that might be?
3)Remember that "business" does not equal "stock market." There are millions of people who own small businesses, and tens of millions of people pursuing careers in corporations. There's an opportunity to provide them with operational and career advice. See, for example, my post Ambition and Opportunism, based on an IBD article--something like that could make an interesting panel discussion.
Posted by: david foster at October 16, 2007 06:37 AM