Tag Archives: CNBC

Jon Fortt

CNBC’s Fortt: How I nearly blew my career


Jon Fortt, the on-air technology editor at CNBC, writes about how he nearly blew his business journalism career while working for the San Jose Mercury News.

Fortt writes, “So in late 2005 I made an ill-fated recommendation to the newspaper’s corporate parent, which owned newspapers across the country. We needed to create a series of national online magazines about high-interest subjects like tech, sports, business and real estate, staffed by newspaper reporters. By going national we’d be able to attract a bigger user base, and by focusing on niche categories we’d command a better premium from advertisers. But to pull it off, we’d have to build the national magazines on blogging software that was simple enough for a distributed staff to update.

“I pitched the idea to corporate and got some nibbles of interest. But when a top manager at my newspaper heard about it, I got chewed out worse than I had in any job. Ever.

“‘I’m trying to fix the WEBSITE,’ the editor yelled, ‘and you keep talking to me about BLOGS!’

“In other words, keep working the current broken system, and quit with the big ideas. I got the clear impression that my job was in danger if I kept it up.

“I went for a long walk in the parking lot alone, shaken. I had hit a new low. After two years trying to get my career out of a rut, I’d gotten exactly nowhere.

“Fortunately, an editing job opened soon after — covering real estate and finance though, not tech. I moved into that and gave up the blog effort. Soon after, I got an offer to leave the newspaper and edit tech coverage for an entrepreneurial Time Inc. magazine … which led to a job at Fortune magazine covering technology again … which led to an offer to cover technology for CNBC, which is hands-down the best job I’ve ever had.”

Read more here.


Cavuto of Fox Biz: Happy Anniversary, CNBC


Fox Business Network anchor Neil Cavuto, who was on CNBC when it began airing in April 1989, writes about the early days of the business news network.

Cavuto writes, “If only I knew then all the folks who doubted that channel would ever make it. I might never have made that leap this day a quarter-century ago.

“Back then, many thought a business network wouldn’t last.

“Yet today, no fewer than three do. CNBC, Bloomberg, and the one you might have heard me mention now and then, FBN?

“Oh, you don’t get Fox Business?

“We bust on each other, but we are all a part of each other.

“The same money mosaic. A bigger mosaic. Now, a more crowded mosaic now, even louder mosaic now, but the same mosaic now.

“The sum of so many legendary parts we cannot believe have parted like Louis Rukeyser and Ray Brady and Mark Haines all gone. But I like to think all still very much in our DNA.”

Read more here.

CNBC 2004

A montage of 25 years of business coverage on CNBC


CNBC has posted a video that is a montage of some of its highlights — and lowlights — of the past 25 years of its business and financial news coverage.

The video clip includes appearances by exercise guru Richard SImmons, comedian Will Ferrell and Los Angeles Laker Kobe Bryant

CNBC old logo

CNBC celebrates 25th anniversary


CNBC anchor Bob Pisani writes about the business news network on the 25th anniversary of its launch, which was April 17, 1989.

Pisani writes, “A few months later, we survived our first big test: The purchase of our rival, FNN, in May 1991 for $154 million against a Westinghouse-Dow Jones consortium. That’s when we got three key players: Bill Griffeth, Ron Insana and Joe Kernen.

“And with guys like that–along with Sue Herera (who had already come over from FNN), David Faber, Mark Haines and, in 1995, Maria Bartiromo, we rode the Great Bull Market of 1982-2000 all the way to the top.

“It was a slow start. For the first five years, we had no ratings. I used to sneak into Peter Sturtevant’s office to see the ratings (they came–by fax–at 4 p.m. ET). Nothing. Hash marks.

“But it started changing in 1995 and into 1996. We started getting ratings. And as the volume at the NYSE and the NASDAQ began to climb, so did our ratings. It was almost a perfect match: Higher volume, higher ratings. Stock trading and us.

“It wasn’t just because of the excitement in stocks. We helped create that excitement. Before CNBC, Wall Street was a pretty opaque place. Stock brokers called clients and pitched stock-buying ideas. If you were lucky, if you were a big enough client, you got an analyst report.”

Read more here.


NYSSCPA names financial journalism award winners


The New York State Society of Certified Public Accountants announced the winners of its 2014 Excellence in Financial Journalism Awards.

The nationwide contest — the 31st annual this year — recognizes reporters from the national and local press whose work was published, posted or broadcast in 2013 and contributed to a better and balanced understanding of business or financial topics. Winners were selected by judges from the NYSSCPA and the New York Financial Writers Association who ranked submissions on accuracy, quality and thoroughness of research.
This year’s winners will be honored during a luncheon ceremony May 1 in New York City.
Book – Business/Financial:
Gregory Zuckerman for  “The Frackers: The Outrageous Inside Story of the Billionaire Wildcatters” (Portfolio/Penguin). In five years, the United States has seen a historic burst of oil and natural gas production, easing our insatiable hunger for energy. A new drilling process called fracking has made us the world’s fastest growing energy power, on track to pass Saudi Arabia by 2020. But despite headlines and controversy, no previous book has shown how the revolution really happened.
Print & Online:
Trade Press Category – News/Investigative:  David Evans, Bloomberg Markets, for “Fleeced by Fees.” Even as Wall Street has found countless ways to trick and profit excessively from its customers, the fees charged by managed futures funds are outrageous by all standards— and hidden.
Trade Press Category – Features: Janet Hewitt, Mortgage Banking, for “That Other American Dream” an in-depth look at the senior management and business strategy behind Ellie Mae, a unique company in the mortgage technology field that has found a way to be a success story in the face of epic headwinds.
Trade Press Category – Opinion: Kenneth Silber, Research, for “Who’s Kidding Whom?” a piece that focused on the risks of financial advisors “living in a bubble” and filtering out adverse information about public opinion and the political climate.
Consumer Press Category – News/Investigative: Cam Simpson, Bloomberg Businessweek, for “Stranded”  which follows the incredible tale of 1,500 Nepalese men as they are recruited in their homeland by job brokers who charge fees for the service, then flown to Malaysia where they’ll work at a Flextronics plant assembling cameras for the new phone. Once there, they’re stranded when Apple moves assembly to another plant.
Consumer Press Category – Features:  Peter Elkind and Doris Burke, Fortune,for “Amazon’s (Not So Secret) War on Taxes,” where the pair reveal how Jeff  Bezos’ company successfully battled to preserve his company online sales-tax exempt status by demanding, wheedling, suing, threatening, and negotiating—and how new alliances and strategies among Amazon’s enemies finally began turning the tide.
Consumer Press Category – Opinion: Dan Primack, Fortune, for “Where is Calpers’s Governance When You Need It?”, in Fortune, in this, one of his ongoing commentaries about private equity, venture capital, Wall Street, mergers and acquisitions, and other deal-related topics, Primack chides the corporate watchdog for its complicity in allowing a third-party “placement agent” to channel Calpers’s investments toward a private equity fund, all the while portraying itself as an unwitting victim
Category – Segment Running 10 Minutes or Less: Richard Quest, CNN International – In the summer of 2013 Richard Quest travelled to Texas to investigate both the day-to-day work of fracking, and its long-term economic impact.
Category – Segment Running More than 10 Minutes: Scott Cohn, CNBC, for “Critical Condition: Saving America’s Cities,” the historic bankruptcy of the city of Detroit in 2013 was not an isolated incident. As this series shows, no major city is without at least some of the same issues that sent Detroit over the edge.
Category – Segment Running 10 Minutes or Less:  Alisa Parenti with producer Tracy Johnke, Marketwatch.com Radio for “Housing on Fire: Tips for Buyers and Sellers” – As the housing market started to heat up again, Parenti and Johnke had a very simple goal: To help buyers and sellers maximize their positions in the finally-improving real estate market.
Category – Segment Running More than Ten Minutes: Gordon Deal, Wall Street Journal This Morning, 16-day segment series decoded the government shutdown’s impact on real people, the economy and business.

CNBC seeks producer


CNBC is seeking a producer who will be responsible for working with Executive Producers, Senior Producers, Producers and Production Associates to help produce projects for Strategic Programming and Development.

Projects may include both taped and live segments, shows for broadcast and online.

Essential Responsibilities:
- Book and write segments for daily and weekly programs
- Write daily segments for digital programs
- Develop industry contacts for potential guest bookings
- Research market reports

- Knowledge of INews, Volicon, Stratus, Storm and Deko
- Minimum two years of experience on live programs

To apply, go here.


CNBC seeks desk producer


CNBC is looking for a desk producer to Produce stories for CNBC’s daily live Business Day programs.

The person will work directly with CNBC correspondents to find and interview sources, develop visual elements and shoot and cut footage for live reports and edited packages. Find background information on a wide range of business, financial news stories, using a variety of sources such as the Internet, newspapers, and magazines. Assist reporters in the studio or field as required. Contribute to cnbc.com and social media when requested.


A Bachelor’s degree and working knowledge of financial and/or business news, political news, and hard news content and at least 3 years television production experience.
Strong knowledge of Microsoft office and newsroom systems including iNews.

To apply, go here.


CNBC launching two new prime time shows this summer


Business news network CNBC said Tuesday that it is adding two new shows to its prime time lineup this summer.

It has also given the green light for development of three other shows.

The two new shows are “Restaurant Kickstart” with restaurateur Joe Bastianich, and celebrity chef Tim Love, which will launch in July, and “Filthy Rich Guide,” which will launch in August.

In “Restaurant Kickstart,” Bastianich and Love compete against each other to invest their own money in food concepts they believe will make them millions. “Filthy Rich Guide” details the ways in which the ultra wealthy spend their money.

The new shows come on the heals of the success of “The Profit,” which follows serial entrepreneur Marcus Lemonis who saves struggling businesses while investing his own cash in the process. Last Tuesday’s episode of “The Profit” was the most-watched original series telecast ever for the network among 25- to 54-year-old viewers and total viewers.  Among 25- to 54-year-olds, season two of “The Profit” is up 115 percent from last year’s first season.

“It’s an exciting time for us in primetime,” said Jim Ackman, senior vice president of primetime alternative at CNBC, in a statement. “‘The Profit’ is building a loyal fan base with viewers who want to be entertained but also want to get insights as to why businesses fail and how they can flourish. And our two new series, ‘Restaurant Kickstart’ and ‘Filthy Rich Guide’ are great additions to our line-up and reinforce what we have said all along, that money and business are great backdrops for storytelling.”

The three series in development have the working titles of “Restaurant Confidential: New York,” “Hard Money” and “More Money More Problems.”

Tyler Mathisen

CNBC’s Mathisen: Never been a better time to be a business journalist


There has never been a better time to be a business journalist, CNBC anchor Tyler Mathisen said last week to a group in New York.

A story on the Sageworks Institute site states, “The co-anchor of CNBC’s ‘Power Lunch’ and ‘Nightly Business Report’ told more than 100 journalists at an event hosted by Sageworks Institute that monumental changes in the way journalists report and distribute their work translate into new opportunities. ‘There are more voices out there,’ he said at the Cornell Club in New York. ‘Everyone can find a way to have their voice heard.’

“Because distribution of business news has become more fractionalized, there are many more outlets for distributing journalists’ work, and reporters and editors today need not be associated with traditional, major media properties. The journalist and the consumer of business news are closer than they have ever been before as a result of the explosion in recent years of enterprising and viable outlets for business journalism, many of which are digital, he noted.

“This more direct path to the audience than allowed under the traditional model involving big intermediaries/traditional gatekeepers can result in a greater amount of high quality reporting, he said.

“‘Everybody can be a publisher, so there are a lot of opportunities for people like you and others to generate content,’ he said. He acknowledged that journalists have to deal with increased pressure to favor content volume over quality – an issue made more pressing by the removal in recent years of layers of editors who would check facts and improving writing.”

Read more here.

Scott Cohn

Cohn celebrates 25 years at CNBC


Scott Cohn, a senior correspondent and lead investigative reporter at CNBC, is celebrating 25 years with the business news network.

Danny LoPriore of the Greenburgh Daily Voice writes, “With cable networks already established to compete with ‘free’ television, Cohn said he could foresee today’s era of 24/7 news when  the network hit the air in April 1989.

“‘NBC Chairman Bob Wright knew the days of a single network with just a morning and evening newscast were over,’ Cohn said. ‘CNBC was NBC’s first big step out of the old network model, and the rest of the industry would soon follow. But it was already clear in ’89 that 24-hour news was coming.’

“Cohn said social media has multiplied all media and was not as predictable.

“‘The World Wide Web was still a couple years away, personal computers were still few and far between, and cell phones were still the size of bricks,’ he said. ‘It is hard to fathom now, but 1989 technologically seems like the Dark Ages.’”

Read more here.