Kerr on the coming business-news battle
The Maniac Trader, Kevn Kerr, replies to my post about Rupert Murdoch's plans for the Fox Business Network. And he speaks from up-close experience:
Having been on Fox business shows many times I think a lot of what you're saying is true and some not. I actually really like Fox because it is more at a "real" level for the average investor. Fox likes controversy, so does CNBC, Fox is just better at it and with shorter sound bites. CNBC tries to be more "intellectual" but they miss that mark by a long shot.
Bottom line is this. The two networks have to begin to be more like a BNN, you know, up in Canada. BNN or a fairly unknown show like First Business [syndicated] or Nightly Biz Report [PBS], now those are good shows. Neither CNBC or Fox will follow that model though, because they are all about money and ratings…That's why everyone is talking about them and not the other programs I mentioned. The vast majority of Americans, heck people in the world, prefer sound bites and disaster. Ken Lay dying, Britney Spears in a meltdown, etc. etc. Peter Schiff is great TV in 12 seconds screaming with Hannity or Brenda B…..or Kudlow….I myself am going to be very interested to see what happens, that will be the most entertaining show of all. My money is on Murdoch.
As is mine. Whatever quibbles I have with Fox's editorial bent (and it's a more complex story than perhaps I've let on, but I'll leave that for another time), Murdoch knows how to go after a target market like no one else. Think about it: Kudlow and Cavuto are peas in a pod ideologically. But as Kevin indicates, it's all in the packaging; CNBC and Kudlow appeal to the Brooks Brothers set, Fox and Cavuto to Men's Wearhouse. And ultimately that's what Murdoch means by "Wall Street" versus "Main Street." It's the old class-versus-mass thing. Murdoch's going for the masses. Still, methinks that when Cavuto devotes the bulk of his existing "business news" hour Wednesday to O.J. Simpson and the Iranian president's request to visit Ground Zero… he just might be carrying the masses thing a bit too far. Fox Business's biggest challenge might simply be creating content that's distinct from Fox News — which could be one reason we've heard precious little about the program lineup, with launch less than a month away.
Anyway, let it be said that no matter where Kevin appears on business TV (and it's a lot of places!), his breadth of knowledge of the commodities markets instantly raises the quality of discussion. Oh, and he's been racking up a very fine record of triple-digit commodity options gains lately — even 400% in 34 days. Curious? Right now, we're giving away three months of Resource Trader Alert — <check it out.