This morning, Doug Kass eviscerates the pontificating blowhards who pretend to be reporting about business, but are really nothing more than political hacks using business TV to push their own. (You don’t have to be a media savant to understand precisely who he is referring to).
Kass writes: “I have very strongly held political beliefs, but I feel as strongly that my platform in my diary on Real Money Pro is an inappropriate forum for me to deliver and voice my views.” Which of course is precisely what all too many supposed business shows do. That is the reason that so many market professionals have flicked over to Tom Keene on Bloomberg TV each morning, and why other network’s have seen their ratings go in the crapper.
After watching what Fox News did to CNN, there seems to be a genuine fear of Fox Business. Amongst mainstream broadcast media, we have seen a politicization of business reporting. Just as Murdoch has damaged the WSJ, which was once the finest business and all around paper in the US, so too has CNBC has forfeited their position as best financial television on cable. They disastrously followed the Roger Ailes school of journalism, erroneously believing it would work with business & stock market programming.
Only they were terribly wrong.
It was Glickman’s discussion of what makes for a good sports broadcaster that Kass wants to see applied to business news:
“Glickman emphasized that the most important roles of a broadcaster were to repeatedly tell the score and to visually and lucidly describe the game’s plays and action. A good broadcaster, he said, doesn’t coach; he lets the game tell the story.
I bring this up, in part, because some of the business media has and will continue to voice their political views, and similar to my political views, no one should be interested in their political stands and/or opinions. . . “
Report the news. Let people know what is happening each morning. Give us the futures, the breaking news,
Kass’ advice to the business reporters of the world: Report, don’t coach!
This post was originally published on The Big Picture and is reproduced here with permission.