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The latest news on Money Media from Business Insider

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    Maria Bartiromo

    The financial media world was stunned this week when Drudge Report broke the news that Maria Bartiromo would be leaving CNBC for FOX Business Network.  

    Bartiromo, affectionately known as the "Money Honey," has been a fixture at CNBC for two decades. She was one of the network's earliest and biggest stars, and she celebrated her 20-year anniversary there just last month.

    A Brooklyn native, Bartiromo joined CNBC in 1993. A couple of years later, she made history as the first journalist to report live from the floor of the New York Stock Exchange.  Roger Ailes, who is currently FOX News Channel's president, was the one who got Bartiromo on air back then when he was working for CNBC. 

    The news of Bartiromo's departure got people talking. Why would one of CNBC's biggest stars quit the network? And why would CNBC let her leave?  

    Yes, CNBC's ratings have been low of late, but they're still well above FOX Business Network's ratings. CNBC still remains the No. 1 business news channel.  

    According to a source familiar with Bartiromo's thinking, her decision came down to three factors:

    • Money. FOX made a big offer. CNBC increased its own offer, but didn't quite match FOX's.
    • Visibility. FOX is going to give Bartiromo a live Sunday show on the FOX News Channel, which has a vastly larger audience than either business network. Bartiromo explored the possibility of hosting a similar show on NBC, but "Meet The Press" was taken and NBC wasn't willing to create a similar slot for her.
    • The opportunity to, once again, help build something. FOX Business is no longer a startup network, but it has a long way to go before it challenges CNBC as the most popular business network.

    FOX's overtures were also made more attractive and persuasive by the personal involvement of FOX boss Roger Ailes. Ailes persuaded Bartiromo that he would be personally committed to helping her further develop her career, support that Bartiromo did not feel she would have at CNBC and NBC.

    Ailes also knew the number he had to hit to make Bartiromo switch.

    The New York Post's Claire Atkinson, who cites unnamed sources, reports that Bartiromo's FOX contract is said to be worth between $5 million and $6 million per year. It was believed that Bartiromo raked in around $4 million at CNBC.  

    Maria Bartiromo in 1995Another big enticement for Bartiromo was the promise of the live Sunday morning show on FOX News Channel.

    NBC wasn't willing to offer her that.

    One CNBCer, who will remain anonymous, noted that it was pretty obvious that there weren't many opportunities left for her there in terms of the NBC network.

    "There just didn't seem to be a lot left here for her to do. She clearly wasn't on the network radar screen, so if she wanted to grow her options were limited at NBC. Kind of reminds me of the Erin Burnett situation."

    FOX also seems to be an obvious fit for Bartiromo politically.

    Over the last year, she has been more and more vocal on her show expressing her own viewpoints in her own opinion segment.  

    Back in 2012, CNBC hired a producer named Gary Schreier, who was Neil Cavuto's Executive Producer FOX Business, to be the Executive Producer of Bartiromo's "Closing Bell." One insider said that he thought Schreier was brought on to make Bartiromo happy.  

    "The sense was that they brought him in to kind of like make Maria happy that he was a guy that...suits her politics. Her politics are more aligned with FOX." 

    Schreier was the one who helped Bartiromo start her "Maria's Observations" segment where she would share her views at the close of each show.

    WATCH: Lou Dobbs Told Maria Bartiromo That Going To 
    CNBC Would Be The Biggest Mistake Of Her Life

    "He was brought over to help continue and cultivate and grow her as an anchor and try to draw out more of her personality and viewpoint," another CNBCer said. 

    The timing of the news of Bartiromo's departure caught CNBC by surprise.

    Ever since Bartiromo passed on CNBC's final offer and informed the network that she was leaving, the plan had been to announce the news on Thursday, November 21st, the day before Bartiromo's final day on the air, one source says.

    The Drudge leak caught CNBC by surprise.

    CNBC may also have to make some changes in the wake of Bartiromo's departure.

    One of Bartiromo's assets has always been her ability to book big-name guests.  CNBC has long had a policy in which guests have to appear "first on CNBC" before they appear on other networks, and the concern is that Bartiromo's guest-booking power may be able to upend that.

    "The real stiff CNBC guest policy—This is going to turn that on its head. She works her ass off and gets great guests," a CNBC insider told us.

    "I know for a fact that she does a lot of hands on booking herself and keeps in touch with big folks like [Larry] Fink [Prince] Al-Waleed...What does CNBC do then? Are they forced to take that person second that's been with her the whole time. You go 'come on us first or you don't come on at all?' Are they going to say that to the biggies?" 

    Not everyone thinks this will have a big impact, though. 

    "I think the most immediate impact is going to be in booking, but I have a feeling her prowess was always a little overrated in that department. I don't think anybody's panicking because we might get a few less Meredith Whitney interviews," another CNBCer said.

    Even those who don't think Bartiromo's departure will have much impact on CNBC have huge respect for her work ethic.

    Maria Bartiromo"She is a bulldog. She just works really, really hard. She's an impressive person. She's just driven. She's smart. She's energetic...She fiercely guards her territory...She's tough in a good way... She's just a hard working, driven person and she's competitive. I think that's going to be interesting to see what they're able to do with that," one source who has worked with her said.   

    So this brings us back to the question of why CNBC is letting her go?  

    CNBC clearly has the money, so why not match it?  

    The story some CNBC executives are telling is that Bartiromo is a member of an old-school TV generation and that CNBC now wants to invest in younger talent who are comfortable working in digital as well as broadcast media — rising stars like Kelly Evans, for example, who has been dubbed the "next Money Honey." 

    Sources say that Bartiromo's deal with FOX Business hasn't been signed, and that some minor details still need to be worked out. (The location of her Sunday show, for example, as well as who she will bring with her from CNBC.)

    Bartiromo's contract with CNBC expires on Sunday, November 24, and she is actually not allowed to sign a new contract before then.

    It's also unclear when Bartiromo will debut on FOX Business. Contractually, she is required to wait 60 days past the end of her CNBC contract, but it's possible that this restriction will be waived. In any event, we won't likely see her on FOX until January. 

    Join the conversation about this story »


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    Day in the life of Stephanie Ruhle

    The findings are in.

    Over 2,600 people responded to Business Insider's survey on financial TV, and question after question Bloomberg TV beat out CNBC and Fox Business News as the preferred channel among those polled.

    It's a fierce debate in financial circles. CNBC has consistently claimed the top spot, but Bloomberg TV isn't tracked by Nielsen, the ratings pollster, so the true favorite among financial professionals and business news consumers has been unclear.

    So Business Insider decided to ask its own readers.

    Respondents answered questions about everything from their favorite anchors, to Maria Bartiromo's recent move to Fox Business News. They gave their opinion on which network has the best tech coverage and their favorite morning show.

    But there was one crucial question that sums up the entire network battle. Bloomberg TV and CNBC are in a dead heat over who has the best guests.

    If Bloomberg TV edged ahead in that department, who knows what would happen.

    Readers ranked each network from 1-3 in order of how frequently they watch them all day (1 being the network watched most frequently). Bloomberg TV beat out CNBC for "most watched" by 20%.



    Respondents would overwhelmingly choose to watch Bloomberg TV if they always had a choice.



    Viewers prefer Bloomberg TV's morning programming over CNBC's by 14%.



    See the rest of the story at Business Insider

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    instyler infomercial

    Traders need information at all hours of the day, especially if they're trading markets that aren't bound by US time.

    That's probably why they were the first to notice that in early October, Bloomberg TV started airing infomercials while the rest of us are sleeping.

    A trader who is up odd hours watching Asian and/or European markets tells us he now turns to CNBC-E now whenever the infomercial come on. It's not an ideal situation because CNBC-E does not have US Futures and other data scrolling as Bloomberg did.

    Bloomberg TV confirmed that the infomercials are now on Sunday nights from 11:00 pm to 12:00 am, Tuesday to Saturday from 2:00 am to 3:00 am, and Monday from 12:00 am to 2:00 am. However, they are still considered to be an experiment on the network's part.

    The extra monetization grab comes as the New York Times reports that terminal sales are down dramatically, and news that Bloomberg news recently had a round of layoffs.

    Join the conversation about this story »


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    Pete, Jon Najarian Mandy Drury

    Business Insider did a quick fly around Wall Street to see what hedge funders, media personalities, and more are eating this holiday — and when all the dishes were in, we couldn't help but give CNBC's Najarian brothers their own shout out.

    Why?

    Because Jon and Pete Najarian — options traders, CNBC Fast Money personalities, and former football stars — have an unquestionably epic meal for Thanksgiving.

    In fact, some might argue that it's dangerous. Do not try this at home if you lack the equipment/experience.

    You'll soon see why.

    In a note to Business Insider Jon said: "My favorite Thanksgiving foods are in this order: Deep Fried Cajun Turkey, Popeye's Cajun Gravy, Bourbon Pecan Pie, Pumpkin Chiffon Pie, and Sweet Potato Pie."

    He had us at "deep fried" and by the time he got to "Popeye's" we had to know more.

    "My brothers Dave and Paul own Popeye's Fried Chicken franchises," said Jon. "Thursday morning, as is tradition, we bring two seasoned 18 lb birds to one of their restaurants. We drop for 45 minutes while we BS and talk about family and so on. Then we bring the turkeys home where about 25 Najarian's dig in."

     The cooking process sounds dangerous. What sounds even more dangerous, though, is getting between 25 Najarians and the turkey.

    Happy Thanksgiving guys.

    Okay, and now for the process (from Jon's Instagram):

    Two birds ready to be fried:

    najarian turkeys ready to fry

    FIRE IN THE HOLE:

    Turkeys in the deep frier

    The Halftime report:

    Half fried Najarian turkey

    Two Gorgeous Cajun Turkeys:

    two fried cajun turkeys najarians

    The final meal product:

    najarian thanksgiving

    Join the conversation about this story »


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    bloomberg terminal, business insider, bi, dng

    Bloomberg News has an unusual practice of paying some of its reporters explicitly for publishing "market-moving" stories.

    This is one of many metrics that is factored into reporters' annual bonuses.

    This practice is not widespread in the financial news industry, and journalists we spoke to from other outlets were not aware that it is used at Bloomberg. We also canvassed traders, bankers and public relations professionals. None of them had heard this before, either.

    Most of the people we spoke to, especially traders, were startled to hear about this practice, worrying that it might create an incentive for Bloomberg reporters to "push" or stretch stories with the specific aim of moving markets. Traders react instantly to headlines and news stories, and the decisions they make often make or lose significant amounts of money.

    We asked Bloomberg about the practice. A company spokesperson acknowledged it.

    "It isn't news unless it's true. At Bloomberg News, the most important news is actionable. That means we strive to be first to report surprises in markets that change behavior and we put a premium on reporting that reveals the biggest changes in relative value across all assets."

    The tidbit about Bloomberg's compensation practice was buried in a New York Times article by Stephanie Clifford from 2010 and mentioned in a 2011 article by Jodi Enda in American Journalism Review. It was also recently mentioned again in a New York Times article this summer by Amy Chozick.

    A former Bloomberg News employee, who spoke on the condition of anonymity, confirmed to Business Insider that Bloomberg News does track market-moving stories reporters publish and that these types of stories do factor into reporters' bonuses.

    Not surprisingly, given this compensation structure, the reporters at Bloomberg definitely care about moving the market.

    "Anyone who moves the markets gets a bonus. Your team gets awards. If you don't move the market [it's] like there's something wrong with you. You don't get a full bonus."

    Bloomberg News reporters get a compensation report each year, the former Bloomberg employee says. The bonuses are calculated based mostly on the reporter's team's performance as well as market moving stories. A percentage of the bonus is also based on personal performance, and it's all weighted.

    Bonuses for Bloomberg reporters used to be tied directly to sales of the Bloomberg Terminal. Now, half of the bonus is tied to company performance (Terminal sales) and the other half includes a range of seven or eight different metrics such as accuracy and market-moving stories.

    A person familiar with Bloomberg's view of this compensation practice says concerns about it are overblown. Accuracy, above all, is the most important metric in reporters' bonuses, this person says.

    "Say you make $50,000 and your total bonus is $10,000—$5,000 of that is tied to overall company performance (revenues, sales targets). Journalists have no role other than you're part of this bigger community. The other $5,000 is rated on a number of different metrics. Accuracy is a huge thing," the person says.

    It's also up to the reporters' manager to decide the bonus, the person familiar with Bloomberg's view added.

    "If I'm covering Wal-Mart and I sit next to a person covering a Texas company, my Wal-Mart stories are probably going to move the market more. But the Texas company person did well getting some awesome scoops. Maybe they had a few mistakes here and there. All of that weighs in, too. So it's ultimately up to the manager who decides how the bonus is figured in. To say that people are getting a big $5,000 bonus for some market-moving win is completely wrong."

    "It shouldn't be surprising that there is a financial incentive for reporters to actually break news," the person familiar with Bloomberg's view added. It's also seen as a competitive advantage, the person familiar explained.

    The practice of compensating reporters partly for moving the market creates the concern that reporters might push stories further than they should.

    walmart chart

    There have been a few memorable instances where Bloomberg stories have moved the market when they really shouldn't have. (To be clear, we're not saying that the reporters and editors who published these stories were motivated by their bonuses.)

    For example, on Sept. 25 of this year, Bloomberg News reported a story with the headline "Wal-Mart Cutting Orders as Unsold Merchandise Piles Up," citing an email exchange between an unnamed Wal-Mart headquarters order manager and a supplier. Wal-Mart shares fell nearly 3% on that report.

    Bloomberg News's Editor-In-Chief Matt Winkler later tweeted about the market impact of this story.

    Shortly after the story was published, however, a Wal-Mart spokesman told CNBC "the entire story is misleading," Wal-Mart shares then rallied back.

    In another example, Wednesday, Nov. 13, at 4:30 p.m. EST, Bloomberg News published a "HOT" headline from an embargoed story about Janet Yellen's written testimony from her confirmation hearing before the Committee on Banking, Housing, and Urban Affairs.

    The "red" breaking news headline on the Bloomberg Terminal read "Yellen Says U.S. Economy Performing 'Far Short' of Potential."

    On this news, risk assets like equities, the Treasury market, and currencies all screamed higher, and there was a sharp selloff in the dollar. It was 4:30 p.m., so futures and after-hours equities were still being traded. The markets aren't as liquid at this time as they are during the rest of the trading day. What's more, traders will tell you that they react to headlines before reading the full article because of time constraints.

    CQG chartThen, at 5:50 p.m. EST that day, an hour and 20 minutes later, when the futures markets were closed, the Bloomberg terminal headline was changed to a more neutral depiction of Yellen's written testimony, "Yellen Says U.S. Economy Must Improve Before Fed Tapers QE."

    Traders we spoke to said it was because the first headline sounded so dovish that the market responded as strongly as it did. Later, as traders digested Yellen's full remarks, the market moved back to pretty much where it was before the news. (The headline on Bloomberg News' website remained unchanged from the original.)

    This particular instance warranted a foreign-exchange veteran at a Wall Street investment bank to email the following note to clients after the Bloomberg headline came out. (Emphasis ours).

    "At 430pm yesterday afternoon BBRG ran a story titled "Yellen Says U.S. Economy Performing ‘Far Short’ of Potential" {NSN MW80ZG6S972T <go>} which they later changed to "Yellen says US economy must improve before Fed tapers QE." Revision or not I would argue that the article missed the point of what exactly Yellen said.

    "If you take the time to read the text of this morning's Yellen testimony it's not nearly as dovish as the market reaction (I've attached it). In fact I think that the line the aforementioned BBRG article is referring to is "I believe the Federal Reserve has made significant progress toward its goals but has more work to do" which doesn't sound nearly as low for long / QE forever as the headline."

    There's nothing wrong with a news story moving the market: It means a story is important. But compensating reporters specifically for moving the market creates at least the appearance of a conflict of interest — specifically, an incentive for reporters to publish stories and headlines with the explicit aim of moving the market.

    Dow Jones, another market-news service, does not compensate its reporters for moving markets. As Bloomberg continues to gain more power in the financial world, its news practices — such as the Terminal "snooping" scandal of earlier this year and recent reports that Bloomberg killed a China story to avoid irritating the Chinese government — are coming under increased scrutiny. It would not be surprising to see the practice of paying reporters to move markets draw similar questions.

    Join the conversation about this story »


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    Maria Bartiromo

    Fox Business Network has officially announced that it has signed Maria Bartiromo, according to a release. 

    Back in November, it was reported that Bartiromo, affectionately known as the "Money Honey,"was leaving CNBC after 20 years to join Fox Business.

    Fox had not made an official announcement until now. 

    Bartiromo has been named a Global Markets Editor at Fox Business.  She will anchor a daily show for Fox Business and a Sunday business-focused show for Fox News Channel. 

    She starts on February 1st.

    Bartiromo is currently in Davos, Switzerland for the World Economic Forum. 

    Here's the full announcement: 

    FOX Business Network (FBN) has signed veteran financial anchor Maria Bartiromo to a multi-year deal, announced Roger Ailes, Chairman and CEO of FOX News. In her new role, Bartiromo will serve as Global Markets Editor, anchoring a daily market hours program for FBN, as well as a Sunday business focused show on FOX News Channel (FNC). She will begin her tenure at FOX Business on February 1st with each program launching before the end of the first quarter. 

    In making the announcement, Ailes said, “I tapped Maria to report live from the floor of the New York Stock Exchange while at CNBC, and I am delighted to have her join me once again alongside our star lineup at FOX Business.”

    Most recently, Bartiromo anchored CNBC’s top-rated markets program, Closing Bell with Maria Bartiromo. In 2004, she took over as anchor of the weekly nationally syndicated show, The Wall Street Journal Report, which was later renamed On the Money with Maria Bartiromo. She joined CNBC in 1993, and made history in 1995 as the first journalist to report live from the floor of the New York Stock Exchange on a daily basis. Prior to tenure there, Bartiromo served as a producer, writer and assignment editor for CNN Business News. 

    A recipient of numerous prestigious awards, Bartiromo was the first female journalist to be inducted into the Cable Hall of Fame in 2011. In 2009, the Financial Timesnamed her one of the “50 Faces That Shaped the Decade.” She was honored with two News and Documentary Emmy Awards; in 2008 for her NBC Nightly News special, Bailout Talks Collapse, and in 2009 for her Inside the Mind of Google CNBC documentary. She also received a Gracie Award for her CNBC special, Greenspan: Power, Money & the American Dream.

    Bartiromo is the author of several books, including The Weekend That Changed Wall Street and The 10 Laws of Enduring Success. She writes a monthly column forUSA Today and has written columns for BusinessweekMilano FinanzaIndividual InvestorTicker and Reader’s Digest magazines. She has also been published in theFinancial TimesNewsweekTown & CountryRegistered Rep and the New York Post.

    In addition to being a member of the Board of Trustees of New York University, she is on the Board of Directors of the New York City Ballet, the Girl Scout Council of Greater New York, and the National Italian American Foundation (NIAF). She is a member of the Board of Directors of the Young Global Leaders of the World Economic Forum, the Council on Foreign Relations, the Economic Club of New York, and the Board of Governors of the Columbus Citizens Foundation.

     A graduate of New York University, Bartiromo earned a degree in journalism and economics. She later served as an adjunct professor at NYU Stern School of Business in the fall semesters of 2010 through 2012.

    Join the conversation about this story »


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    Financial blogger John Carney is headed to the Wall Street Journal to write for "Heard On The Street."

    Carney is the editor of CNBC's "NetNet" blog, which covers all things Wall Street. He also regularly appears on air for CNBC. 

    He previously worked for Business Insider and Dealbreaker.

    Before pursuing a journalism career, Carney practiced law as a corporate attorney.  He holds a law degree from UPenn.   

    Here's the internal staff hire letter [via Chris Roush at TalkingBizNews]: 

    We are pleased to announce thatJohn Carney is joining Heard on the Street.

    John is well-known both on Wall Street and in the financial media, with a presence spanning TV, print, and online. He joins us from CNBC, where he founded and ran the NetNet blog and made frequent appearances in front of the cameras opining on the highs and lows of finance.

    John began his career in journalism at DealBreaker, the irreverent blog covering the culture and personalities of Wall Street. There during the depths of the financial crisis, he served as editor-in-chief of the site. He went from there to be managing editor of Clusterstock, part of Business Insider. In addition, John has over the years written for our own Wall Street Journal, the New York Times, Fortune, and New York magazine, among others.

    In a previous life, John practiced corporate law at firms including Skadden, Arps, Slate, Meagher & Flom and Latham & Watkins. He received his law degree from the University of Pennsylvania and graduated Summa Cum Laude from the State University of New York at Binghamton.

    True to his roots, John will cover all things Wall Street for the Heard. You can join one of his more-than 41,000 twitter followers at this handle: @carney. Based in New York, he will report to Liam Denning andDavid Reilly.

     

    Join the conversation about this story »


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    Deirdre Bolton

    Today was Bloomberg TV anchor Deirdre Bolton's last day at Bloomberg, Business Insider has learned.

    She's headed to Fox Business Network, according a source who will remain anonymous.

    When reached by the telephone on Friday afternoon, Bolton would not comment.

    We put in a request for comment from Bloomberg's PR and will update when we hear back. 

    Bolton is definitely a big get for Fox Business. She's been one of the big stars at Bloomberg TV.

    CNBC's star anchor Maria Bartiromo also recently left for to join Fox Business. Sara Eisen, Dominic Chu, Josh Lipton and Sheila Dharmarajan have all left Bloomberg TV for CNBC in the last year and a half. 

    Bolton also Tweeted this photo earlier with anchor Scarlet Fu. It appears to be some sort of farewell.  

    Also, this one confirms everything.

    SEE ALSO: Deirdre Bolton spills on breakfast, rude people and where she goes to be alone

    Join the conversation about this story »


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    Matthew Winkler

    Reporters interviewing for a job with Bloomberg News famously have to answer three questions from the editor-in-chief Matthew Winkler. 

    This is the final round in the job interview process.  Aspiring Bloomberg reporters must answer these questions correctly in order to get hired.  

    We've included the questions below and advice on how to answer them from someone who has successfully completed the interview at Bloomberg. 

    1. What is the most important value in journalism? 

    How To Answer:"Accuracy." (That's the ONLY answer)

    This questions gets asked every time. We're told that everyone warns the reporters about it, so no one ever gets it wrong.

    2. Where do you see yourself in X-number of years? 

    How To Answer: We're told that the key to answering this question is to not say anything outside of Bloomberg. 

    "One time there was a stocks intern who wrote a record number of stories without any corrections. But she didn't get hired because a manager asked what her goal in life was and she said to be Secretary of State of the United States. The fact that she had aspirations outside of Bloomberg cost her the job," our source explained. 

    To be safe, you might want to say that you see yourself "being an editor at Bloomberg News".  

    3. What is the most important modern financial news story? 

    How To Answer: It depends on what the big story is at the time, but we're told he does this to make sure you understand what the big-picture business story is in the world.

    A couple of summers ago the big story was Greece. Right now, the big story could be the emerging markets. 

    Now you know what to expect. 

    Join the conversation about this story »


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    CNBC's anchor Carl Quintanilla is in Sochi covering the Olympic Games. Of course, he's also covering the vodka market.

    During one of his segments, he slammed back four vodka shots in 13 seconds and managed not to puke. Impressive. 

    Check it out: (Start at the 50 second mark)  

    Join the conversation about this story »


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    One Madison Park

    Billionaire media mogul Rupert Murdoch is in contract to buy the triplex penthouse at One Madison, the Wall Street Journal reports. 

    Murdoch will also purchase the unit on the floor below, the report said.

    That's four floors in the swanky condo building for the newly divorced 82-year-old.  

    He's paying a total of $57.25 million for the two units, the report said. The penthouse triplex was listed for $50 million, while the apartment below had been listed for $16.5 million.

    It's definitely a dreamy condo building, and now we're going to take a tour. 

    One Madison's triplex penthouse occupies the 58th to 60th floors. The unit features nearly 7,000 square feet of living space.

    Source: One Madison Penthouse



    The penthouse features five bedrooms and 5 1/2 bathrooms.

    Source: One Madison Penthouse



    The unit features high ceilings, floor-to-ceiling windows, and a 596 square-foot wraparound terrace.

    Source: One Madison Penthouse



    See the rest of the story at Business Insider

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    Sara Eisen

    Star reporter Sara Eisen joined CNBC from Bloomberg TV late last year.

    She's been crushing it since moving there.

    Eisen is well-known for her coverage of the foreign exchange. At CNBC, she's a correspondent focusing on the global consumer. She's still really into forex, though.

    We asked Eisen to take us through her typical day at CNBC.

    She showed us her routine of what she does when she wakes up and how she gets her hair and make up done.  She even showed us what she does before she goes to bed. 

    Wake up: I need to set 4-6 different alarms on my phones, between 5:10am-5:36am, because I always ignore the first few. It’s a process.



    First stop—The Nespresso Machine in my kitchen. It's my first of multiple cups of coffee I need throughout the morning (I pick up the next cup on the way down to the exchange and then another at the Starbucks inside the exchange). I can't function without coffee.



    7 a.m., New York Stock Exchange: I love getting to work at the historic NYSE - there's still a vibrant and exciting energy inside on the floor and outside, where tourists are snapping pictures all day long.



    See the rest of the story at Business Insider

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    maria bartiromo

    Maria Bartiromo premiered her new show on Fox Business Monday morning, and it's off to a pretty slow start.

    We see two reasons for this: First, the former CNBC star known for her booking prowess failed to schedule any show-stoppers. Second the discussion-based format of the show isn't quite hot enough to keep viewers glued to the screen.

    Bartiromo shocked Wall Street when she left her decades-long home of CNBC for the less-watched Fox Business Network at the end of 2013.

    Being the scrappy kid nipping at Bloomberg and CNBC's heels, observers expected Fox Business and Bartiromo to pull out all the stops for her debut — ticker tape parade, 76 trombones, the works. The reason why a network hires a lifer like Bartiromo is for her fire (and star) power, after all.

    And what makes a big part of a great hour of informative news? The guests. Booking is crucial and it means everything to financial news consumers, especially in a world where information on stocks and breaking news can be found online.

    On day one Bartiromo booked Jon Hilsenrath, the Wall Street Journal reporter known for Federal Reserve scoops; Bank of America Head of U.S. Equity Savita Subramanian; Dallas Fed President Richard Fisher; and Mario Gabelli, CEO of GAMCO investments. All of these folks are interesting people with large followings, but they aren't necessarily market movers (read: headline-makers).

    Plus, Gabelli was on Bloomberg TV Jan. 22nd. Wall Street has seen him since the "hey, this ain't 2013's 30%-market anymore" discussion that's dominating headlines these days.

    Meanwhile, CNBC booked Verizon CEO Lowell McAdam (telecoms — so hot right now), former European Central Bank President Jean Claude Trichet (everyone's talking about eurozone inflation), and economist Larry Summers (he was a frontrunner for Fed chair) for Monday morning.

    Booking day one isn't something you can do over again, but our second issue with the show — Bartiromo's comfort with its slightly more discussion-heavy format — will likely improve with time. For now, it's not quite lively enough to keep viewers from switching back to their regularly scheduled programming.

    Here's an example: During her discussion with Hilsenrath and Subramanian, Bartiromo made a quick comment about the stock market, which people are getting into fist fights over on Wall Street these days.

    "The corrective action of the market is almost over," she said, citing a technical trader.

    It's a relatively bold statement to make in a year when analysts all over the street are predicting choppy waters. On Bartiromo's show though, it just rolled off the tongue and into the atmosphere without further debate. In fact, the S&P 500 actually went green for the year this morning — so what is there to discuss?

    If you're trying to peel viewers away from channels that are muscle-memorized into their fingertips, it's important to take every opportunity to jump on the questions that are on everyone's mind. Guests and hosts alike have to stay on their toes and be vigilant for moments when they can turn things up a notch.

    All that said — hey, it's day one. Even a professional like Bartiromo needs time to hit her stride, no?

    Wrinkles, like the one below can get ironed out ("Maria" Gabelli).

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    "Money Honey" Maria Bartiromo hosted her first show on Fox Business Network after leaving CNBC late last year.

    In case you missed her new show's debut, we've included some screenshot highlights below.  

    Here's Bartiromo in her show's promo video heading uptown in a car. (She doesn't appear to be wearing a seatbelt.)

    Bartiromo's promo

    In the promo video, Bartiromo is seen walking into News Corp's headquarters in Midtown Manhattan. While at CNBC, she was a fixture at the New York Stock Exchange where she hosted her show. She was also the first journalist to report live from the floor.

    Bartiromo

    Here's the new logo for her show. It's called the "Opening Bell with Maria Bartiromo." She used to host the "Closing Bell" at CNBC. 

    She's hosted the "Opening Bell"

    The show set...

    This is what the set looks like

    Bartiromo opening her show in a red skirt suit. She didn't use her old tagline "I'm Maria Bartiromo...Do you know where your money is?" 

    Bartiromo

    She broke some news that Prince Al-Waleed might purchase a stake in Jack Dorsey's Square.

    Bartiromo

    She also left the set to tease a segment with Mario Gabelli. 

    Bartiromo

    Here she is greeting Gabelli.

    Bartiromo 

    She also had Dallas Fed's Richard Fisher right around the time the Dallas Fed manufacturing report came out.  

    Bartiromo

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    We came across this adorable photo of Fox Business Network Senior Correspondent Charlie Gasparino that was taken when he was five years-old. 

    The future Wall Street reporter, who was rocking some black socks, already looked ready to hunt down a scoop. Then again, this picture was taken in Bronx, where Gasparino spent some of his childhood, so you have to have a little attitude.

    Enjoy!

    Baby Charlie Gasparino 

     Here's what Gasparino looks like now: 

    charlie gasparino

    SEE ALSO: What Financial TV Reporters Looked Like Back In The Day

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    Matthew Winkler

    Bloomberg's Editor-In-Chief Matthew Winkler has released the 25th anniversary edition of "The Bloomberg Way." 

    The style book is full of rules for Bloomberg's reporters and editors. 

    Some of the guidelines are unique to the news organization, particularly Winkler's ban of the word "but."

     "Clauses that start with although, but, despite or however often confuse more than clarify, because the words connect dissimilar ideas in a single sentence," Winkler writes. 

    Instead, his solution is to break up the sentences into shorter ones.  

    The bow-tie wearing editor is also known for his disdain for adjectives and adverbs. He writes that they should be avoided. 

    "Show, don't tell is a simple rule for writing well," Winkler writes. "Rely on facts, anecdotes and examples, rather than characterizations and modifiers, to convince readers and listeners that we were there or know what we write is true." 

    He goes on to write, "The best reporter assembles the details, anecdotes and comments and then let the readers decide who's right, wrong, guilty or innocent. They don't rely on phrases such as raises questions or raises eyebrows."  

    The newest edition of "The Bloomberg Way" is currently available on Amazon Kindle. Hard copies will come out at a later date.

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    doug kass

    Fund manager Doug Kass, who runs Seabreeze Partners, writes in a new Street.com column that he hasn't been invited back on CNBC because of comments he made in a New York Post article last August. 

    Kass, who has been a regular guest on CNBC's shows and other financial TV outlets, explains that he really wanted to be part of Larry Kudlow's upcoming final "Kudlow Report."

    According to Kass, Kudlow was happy to have him on, but upper management at CNBC stepped in and said no.

    "Everyone wants to be part of Larry’s last show," a CNBC spokesperson told Business Insider when asked about Kass' story. 

    Kass claims that this all goes back to the New York Post article that turned out to be an attack on CNBC. 

    Kass writes that the comments he made in his interview with the Post were a general criticism of the financial media's coverage of Apple. He wasn't aware that the article was going to be focused specifically on CNBC. 

    Here's Kass' side of the story: 

    The New York Post's column, however, beginning with the inflammatory title "CNBC Cheerleaders," turned out to a direct attack on CNBC. The column incorporated remarks I had made in a private email to CNBC's Scott Wapner that I did not intend to share with anyone. The reporter created the illusion that my criticism was directed solely at CNBC and failed to disclose in the New York Post column (as I told her explicitly in a telephone call) that I had written similar emails to commentators at Bloomberg and Fox Business Network.

    Apparently (before the story was published), someone on the CNBC staff forwarded a personal email (without my permission) that I had sent specifically to "Fast Money: Halftime Report's" Scott Wapner (which was CC'd to the other panelists) to the reporter at the New York Post. The thrust of the email was that the excitement related to Apple share purchases -- to jog your memories, Carl Icahn announced an Apple share position of slightly over $1 billion, and the follow-up news was that Lee Cooperman's Omega Advisors purchased 31,000 shares of Apple stock in the prior three-month reporting period -- was not that consequential. In that email I wrote to Scott that Icahn's purchase was de minimis relative to the $450 billion Apple market cap and that in the case of Omega Advisors, the 31,000 purchase represented only a few tenths of 1% of Omega's assets under management.

    In the email I also suggested that a deeper dive and analysis of the possible impact of the two purchases should have been adopted by CNBC and that the excitement should be put into the proper perspective. (I believe, at the time, Lee separately communicated the limited consequences and importance of Omega's modest purchase directly to Scott as well.)

    The New York Post only quoted my email to Scott (which wasn't meant to be made public and without my permission) and suggested my criticism was aimed only at CNBC, which was not accurate. (Again, I had sent similar emails about the coverage of the Apple story to Bloomberg and Fox Business Network.)

    So basically he says it was all a huge misunderstanding.

    Kass goes on to write that he's extending an olive branch to CNBC. 

    "If my delivery of criticism is misinterpreted as disrespectful, that is a mistake, or at least, that it was not my intention. We must all recognize that in the heat of the market's battle, it is not uncommon to say or write sharply worded views that can easily be misconstrued (and certainly be misconstrued by competing media platforms)."

    Read the full Real Money Pro column on TheStreet.com »

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    tyler cowen

    George Mason University economics professor Tyler Cowen was pepper-sprayed in his classroom yesterday by a man claiming to make a "citizen's arrest." 

    Local news station WJLA ABC7 reports:

    The school says that on Wednesday afternoon during a law and literature class in this fourth floor classroom, intruder entered. He jumped up on the desk, announced that he was making a citizen's arrest, and then pepper sprayed Professor Tyler Cowen in the face.

    Cowen ran into the hall, and the intruder chased him until an off-duty officer who happened to be a student in class caught him at one of the building's exits and held him until police arrived.

    Fortunately, Cowen seems to be fine. He's back to work today.  

    Here's a shot of the suspect being taken into custody.

    pepper spray

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    maria bartiromo

    Fox Business Network anchor Maria Bartiromo blasted her former colleagues at CNBC, saying they weren't working as hard as she did when it came to booking guests. 

    The Daily Beast's Lloyd Grove reports (emphasis ours):

    “It wasn’t just the intense competition, it was a competition with my own company at CNBC,” said Bartiromo, who is marking five weeks of anchoring her two-hour stock market program on FBN, Opening Bell with Maria Bartiromo, and on Sunday debuts her live hour-long interview show on Fox News, Sunday Morning Futures with Maria Bartiromo.  (In other words, her famous name and face are all over both cable outlets.)“Six or seven years ago, my boss came and said, ‘Maria, you’re the only one who’s working, the only one who’s picking up the phone and getting big hitters on the air, and I need to make other people do that.’”

    Elsewhere in the story she complains about other shows trying to book her guests, rather than getting their own — intra-CNBC poaching, basically. In a sense, Bartiromo's perspective is not that different from what was expressed by some insiders at CNBC who projected a sense of relief that she had left because of constant head-butts over booking guests, Business Insider's Joe Weisenthal reported earlier.

    Read The Daily Beast's full Bartiromo report here »


    NOW WATCH: How To Invest Like Warren Buffett

     

    SEE ALSO: 7 Clichés You Should Never Use In A Job Interview

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    Maria Bartiromo

    Fox Business Network anchor Maria Bartiromo insulted all of her former co-workers by saying they didn't work as hard as she did when it came to booking on-air guests.

    Basically, Bartiromo said she was the only one picking up the phone and getting guests on the air. 

    From The Daily Beast's Lloyd Grove:

    “It wasn’t just the intense competition, it was a competition with my own company at CNBC,” said Bartiromo, who is marking five weeks of anchoring her two-hour stock market program on FBN, Opening Bell with Maria Bartiromo, and on Sunday debuts her live hour-long interview show on Fox News, Sunday Morning Futures with Maria Bartiromo.  (In other words, her famous name and face are all over both cable outlets.) “Six or seven years ago, my boss came and said, ‘Maria, you’re the only one who’s working, the only one who’s picking up the phone and getting big hitters on the air, and I need to make other people do that.’”

    A CNBC insider told us that her comments "baffling" and "insulting." They're also not true.  

    "It's insulting Maria would say that none of her colleagues worked hard. CNBC is filled with producers, reporters and anchors who've busted their butts just like her for a long time and still do trying to get exclusives and cultivate sources," the source said, citing CNBC anchors/reporters like Jim Cramer, David Faber, Becky Quick, Scott Wapner, Kate Kelly and others as examples of folks who work really hard to book guests and break news. 

    The insider also noted that it makes no sense for her to keep "dropping these bombs." 

    Bartiromo, who's known as the "Money Honey," has a reputation as a powerhouse when it comes to booking big-name guests. However, she was also very territorial when it came to her go-to guests appearing on other CNBC shows. 

    That's why a bunch of folks felt relieved when she left for Fox Business after two decades at CNBC

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