Tag Archives: Fox Business Network

McDonald and Shapiro of Fox Business go head to head over new SEC rules

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Liz McDonald and Adam Shapiro of Fox Business Network got into it on the air Wednesday afternoon, disagreeing about what the Securities and Exchange Commission is trying to do with its new rules regarding the release of information.

You can still get a lot from the SEC

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Zach Goldfarb of The Washington Post writes that the Fox Business Network‘s story about new rules at the Securities and Exchange Commission limiting what public information it will release is a little overblown.

Goldfarb writes, “While, as Fox notes, the law exempts the SEC from disclosing records derived from ‘surveillance, risk assessments, or other regulatory and oversight activities,’ this only concerns documents obtained through examinations of broker-dealers and investment advisers — periodic or targeted reviews of financial firms.

“People and organizations can still use FOIA to obtain a range of SEC information, such as inspector general reports; communications with Congress and the business community; and officials’ calendar, salary and conflict-of-interest information.

“Information from investigations into potential wrongdoing has never been obtainable through FOIA.

“John Nester, SEC spokesman, said:

‘We are expanding our examination program’s surveillance and risk assessment efforts in order to provide more sophisticated and effective Wall Street oversight. The success of these efforts depends on our ability to obtain documents and other information from brokers, investment advisers and other registrants. The new legislation makes certain that we can obtain documents from registrants for risk assessment and surveillance under similar conditions that already exist by law for our examinations. Because registrants insist on confidential treatment of their documents, this new provision also removes an opportunity for brokers, investment advisers and other registrants to refuse to cooperate with our examination document requests.’”

Read more here.

SEC now exempt from FOI requests

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Dunstan Prial of Fox Business Network writes that the Securities and Exchange Commission is now exempt from public requests for information, including Freedom of Information Requests, as part of the financial regulation overhaul.

Prial writes, “The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from ‘surveillance, risk assessments, or other regulatory and oversight activities.’ Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.

“That argument comes despite the President saying that one of the cornerstones of the sweeping new legislation was more transparent financial markets. Indeed, in touting the new law, Obama specifically said it would ‘increase transparency in financial dealings.’

“The SEC cited the new law Tuesday in a FOIA action brought by FOX Business Network. Steven Mintz, founding partner of law firm Mintz & Gold LLC in New York, lamented what he described as ‘the backroom deal that was cut between Congress and the SEC to keep the  SEC’s failures secret. The only losers here are the American public.’”

Read more here. Obviously, business journalists would also be impacted.

The adrenaline is always pumping

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Martin C. Daks of NJBiz.com writes about Eric Bolling, who came from CNBC to Fox Business Network and now is the anchor of the “Money Rocks” show.

Daks writes, “‘I’m always on,” Bolling said, perched on a chair in his office after wrapping a segment. ‘My adrenaline’s always pumping.’

“It must be, for Bolling to keep up with his blazing schedule. Even though ‘Money Rocks’ doesn’t tape until 4 p.m., Bolling’s usually in the studio by about 8 p.m. to catch up on last-minute events and to prep before interviewing the day’s personalities. After the shoot, debriefings and other administrative tasks keep him at the studio until 7 p.m. or later.

“During a taping, it’s easy to get caught up in Bolling’s excitement. He doesn’t stand so much as balance on the balls of his feet, like he’s ready to spring into motion. Bolling said he draws on his time as a ballplayer and as a trader for inspiration.”

Read more here. A subscription is required.

Everyone pitches in at Fox Business

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Damien Hoffman of Wall St. Cheat Sheet interviewed David Asman of the Fox Business Network about his career and what it’s like working at the business news channel.

Here is an excerpt:

Damien: What has been the biggest development since you joined Fox in ’97?

David: The major shift here from ‘97 until now was the emergence of Fox Business in 2007.

Damien: Right before the crash.

David: Talk about baptism by a fire. It was terrible from a business standpoint but wonderful from the journalistic standpoint because there was so much to talk about.

I love the amount of input everyone has here. It’s like the beginning of Microsoft or Apple — very entrepreneurial. Roger is involved. Rupert is involved. They think so far out of the box that they very often keep their competition guessing.

Everybody knows Roger is a genius when it comes to programming.  So, people look very closely at what we’re doing — not necessarily because they think tomorrow we’re going to overtake them in the numbers, but because they know eventually we could …

Read more here.

Stressing the money side of stories

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Mackenzie Carpenter of the Pittsburgh Post-Gazette writes Sunday about Eric Bolling, the host of the new “Money Rocks” show on Fox Business Network.

Carpenter writes, “It will, he says, stress the ‘money’ side of politics, entertainment, celebrity, business and sports — and have a good time doing it.

“Nonetheless, there’s a slight trace of wistfulness when the 47-year-old Chicago native, who made his name as a Wall Street commodities trader before being lured to cable television, talks about playing for a Pittsburgh Pirates minor league team back in the 1980s.

“It’s a part of his resume that he and Fox publicists like to stress, to be sure — even if the Pirates are at the bottom of the standings these days. There’s just something about having once been a professional baseball player, however briefly, that impresses people, perhaps even more than being a hugely successful commodities trader on Wall Street.

“‘Money Rocks’ comes at a time when the Fox Business channel is rejiggering its schedule — dropping some shows, adding others — in an ongoing effort to cut into CNBC’s ratings dominance. Mr. Bolling says he aims to keep the program ‘upbeat’ and ‘irreverent.’ Its first week’s guest lineup included Sir Richard Branson, billionaire founder of Virgin Airways; legendary rocker Ted Nugent, who discussed what BP should have done to prevent the oil spill in the Gulf; and former ‘Friends’ star Lisa Kudrow.

Read more here.

Fox Business Network and the all-star campaign

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Steve Krakauer of Mediaite writes about how Fox Business Network used the baseball all-star game this week to promote itself.

Krakauer writes, “The FBN ‘All-Star Update’ began with Liz Claman, who has taken a more central role as one of the main voices of Fox Business Network, especially since Alexis Glick left. After a brief update, she introduced the two new faces of FBN – Gerri Willis and Eric Bolling.

“Willis, who ‘bats lead-off’ for FBN’s post-market coverage at 5pmET, says she is ‘all over how the big stories of the day are affecting your lives.’ Bolling, the ‘clean-up hitter,’ describes his program as ‘unapologetically pro-capitalism.’

“Bolling, who spends the entire promo holding a baseball bat, has conducted several sports interviews on his 8pmET Money Rocks this week as well, including with NFL star Chad Ochocinco and MLB Hall of Famer (and my favorite athlete ever) Cal Ripken, Jr..”

Read more here.

Bloomberg appears on biz news TV, but it's Fox Business

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The mayor of New York, as most know, is the founder of the company that is the parent of the highly competitive Bloomberg News, the growing business news operation that includes Bloomberg Television.

So, what is Mike Bloomberg doing on rival Fox Business Network this afternoon, and breaking news to boot? A Fox Business reporter caught up with him attending the Allen & Co. conference in Sun Valley to talk about LeBron James not going to either of the two New York-area teams.

Fox Business Network debuts touch screen financial data

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TALKING BIZ NEWS EXCLUSIVE

Fox Business Network debuted a new touch screen technology called the Fox Business Data Wizard today during Liz Claman‘s “Countdown to the Closing Bell” show on Thursday.

It’s a one-touch data display designed to give on-air talent and producers the ability to access a complete set of real-time financial data on demand.

It’s an infrared touch screen wall that will give so much more depth to the markets and gives anchors the power to go into 20 different sectors with the top 10 names in each sector, and the ability to show stock charts of nearly a dozen different time durations — intraday, one week, 1 month, 6 months, 1, 2, 3, 5 years, etc.

They will also have the ability to do comparisons of stock prices during any time duration.

Lee of Fox Business hired away to anchor Fox News show

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Fox Business Network’s Jenna Lee has been named co-anchor of Fox News Channel’s daytime news program “Happening Now,” which airs from 11 a.m. EST to 1 p.m.

Lee will begin her new role on July 12, taking over for Jane Skinner who announced last month that she was stepping down from the show.  Jon Scott will continue in his co-anchor position.

In making the announcement, Michael Clemente, senior vice president of news editorial at Fox News, said in a statement, “When Jane approached us expressing her desire to step down, we were faced with a dilemma considering her contributions to the success of ‘Happening Now.’  After looking at numerous internal candidates and their individual skill sets, we felt Jenna’s combined passion for journalism, energy and enthusiasm would make her an ideal choice.”

Lee added in a statement: “I’m both honored and humbled for this opportunity to be joining a group of highly talented journalists. While I’m sad to leave behind the colleagues whom I’ve worked so closely with in building FOX Business, I’m very excited to embark on a new challenge within the FOX family.”

Hired by Fox News Chairman & CEO Roger Ailes prior to the 2007 launch of Fox Business, Lee co-hosted both “Fox Business Morning” from 5 a.m. to 6 a.m. and “FoxBusiness.com Live Morning Edition” from 6 a.m. to 9 a.m.

She was also a part of the “Money for Breakfast” ensemble during its two-year tenure. Recently, she has served in the news anchor role for the Fox Business simulcast of “Imus in the Morning” while also providing business news updates throughout the day for both Fox Business and Fox News  programming.