Ever Wonder Why Dennis Kneale Has a Job?
I don’t know if you’ve noticed that since the financial crisis kicked into high gear last September, the amount of bickering on CNBC has increased exponentially. Earlier this week, it was announced that Jonathan Wald, the man behind all that shouting, would be leaving the network at the end of March. I thought that would be a good occasion to look at CNBC’s strategy which has been to encourage strong personalities, like Dennis Kneale to be on-air and in everyone’s face. If you haven’t seen this clip of Kneale scolding Charlie Gasparino, it’s worth watching. It nicely sets up this:
It turns out Kneale is haughty but wrong. The constant carping, acting out, and cartoonish behavior has been anything but bad for CNBC’s brand. In fact, it is part of a conscious strategy to take what was once a staid place where the markets themselves starred and turn it into a free-for-all with heroes and villains and a running back story sort of like professional wrestling.
That strategy was executed with the constant hand of architect Jonathan Wald guiding his on-air team. It was a strategy that helped fend off Roger Ailes and Fox Business—remember them? But it also eventually led to the announcement Tuesday that Wald would be leaving the cable network at the end of the quarter.
“Conflict is king in cable television,” Wald says. “You want more than one guest at a time. You want cacophony, not a symphony.” That point of view is what made CNBC an odd combination of up-to-the-second market information, talk radio, and a freewheeling sports show that cuts into the action at every lull.
Source:
Fighting Over Money
What CNBC has in common with professional wrestling
by MARION MANEKER
The Big Money; February 5, 2009
http://www.thebigmoney.com/articles/impressions/2009/02/05/fighting-over-money
February 6th, 2009 at 10:20 am
Yeah, LOVE those sound effects everytime the graphic changes. And the opening bell chime which recurs during the “What to Watch for” previews of the following day.
I don’t know who Jon Wald is, but if he’s reponsible for the goofiness, Rick Santelli should’ve knocked him out long ago. Pitting Rick and Steve Leisman against each other just seems so much beneath the two….
February 6th, 2009 at 10:41 am
I was an avid viewer for years and finally got fed up with the theatrics. I hardly watch CNBC now and prefer to watch the Blog postings, along with factual news. If the stories about the Illuminati are true, then CNBC fits the mind control mold perfectly as they hype the “feel good” model over journalistic integrity. Fox is well lets just say Fox. America needs to wake up and turn off the television. “I MAD AS HELL AND I”M NOT GONNA TAKE IT ANYMORE”, until then it going to be “BYE BYE MISS AMERICAN PIE”. … Blessings to All
February 6th, 2009 at 10:45 am
I stopped watching CNBC some months ago. Only so much stupidity I can take right now…
Anyone remember Louis Rukeyser? He had a wonderful financial news show on PBS – I’m only realizing how great that program was compared to the options available now.
February 6th, 2009 at 10:51 am
I wonder this everyday, but then again my “Must-Mute List” includes the following:
Dennis the Menace
Sir Goldilocks
Joe Kernan
Charlie Gasbagarino
Maria “I love riding in corporate jets & hobknobbing in Davos” B.
Erin “Silver Lining” (occasionally like her but she’s being fully brainwashed by her corporate masters) Burnett
Jim “I play both sides of the trade to always claim I’m right no matter what happens” Cramer
Did I leave anyone out?
February 6th, 2009 at 10:52 am
….forgot about Steve “TARP is already making money for taxpayers” Liesman.
February 6th, 2009 at 10:58 am
I wonder if they are considering re-tooling their coverage so you can actually hear the guests, like Bloomberg?
You forgot Rebecca “I’m way too gorgeous and intelligent to be working with these tools” Jarvis.
University of Chicago, that’s brains. Anyone can buy an MBA from Wharton.
February 6th, 2009 at 11:09 am
CNBC is a complete joke.
since I now primarily watch Bloom I have also noticed that Bloom has better futures reporting and CNBC’s numbers usually lag or are off.
February 6th, 2009 at 11:36 am
Apropos of everything, have you all watched “Idiocracy”?
February 6th, 2009 at 11:40 am
The latest theatrics are getting a bit out of hand. It’s getting really silly to have Gasbagarino come on and pick fights with everyone. You notice Deutch coming on now more often for the sole purpose of picking silly fights.
Just what I want to see….people who have ZERO sense about economics or markets shouting over each other…WWF of financial reporting…genius.
February 6th, 2009 at 1:04 pm
I would add Larry Kudlow and his insipid guests Don Luskin, Jerry Bowyer, & his other perma bulls who have been so completely wrong for the last year and half.
February 6th, 2009 at 1:15 pm
The best weekly program discussing the markets and investing is WealthTrack on PBS. Consuelo Mack has great guests and the discussion is intelligent. A lot of food for thought in every program.
For all of Ruckeyser’s witticisms, he didn’t provide much education and his format became stale. During the late-90s, the Internet gave non-insiders access to much more information and education about the markets and investing. WSW didn’t adapt well to the competition.
Charlie Rose also does a great job with his coverage of economic and financial topics.
February 6th, 2009 at 2:13 pm
I have noted with the 200 point rally today with the abysmal employment numbers that this must be cheerleader tryout week. I do think that Carouso-Cabrerra will probably win chief cheerleader, since Kneale would probably look tortured in a skirt…
Seriously, I understand the markets don’t have to do what I think is logical, but this recession/depression is showing no signs of slowing….and isn’t this “catching the falling knife here?”
February 6th, 2009 at 2:25 pm
The seven or eight talking heads, (actually yelling heads) trying to out-do each other during Power Lunch is so irritating, I find myself tuning instead to Stuart Varney on FBN or even to Bloomberg for some peace and quiet. Not that Varney is all that astute as a financial commentator, but at least he is civil, and can sometimes be humorous. While I do enjoy Fast Money after market close, as all the panelists are legitimate traders, I also ignore the Chair Thrower during his hour.
February 6th, 2009 at 9:29 pm
I like CNBC World, particularly Squawk Box Europe. They have interesting guests, good discussions (not just sound bites), and everyone is respectful of each other’s opinion. What a concept!
Al C, Thanks for mentioning Wealth Track. I’ll have to give it a try.
February 7th, 2009 at 12:39 am
“Larry Kudlow and his insipid guests Don Luskin…”
Wait a minute! If they go then how are we going to know when they turn bearish so we can jump back into the market?
Besides, I have this recurring dream that includes Michelle Caruso-Cabrera and Trish Regan: just the five of us are together… well, you get the picture.
February 7th, 2009 at 9:55 am
The thing that blows my mind is LK. Why don’t they just rename his show as THE RNC Report. It am continually amazed at Larry’s complete disdain for the working class in this Country that in many cases works multiple jobs just to get by; while he gives a complete pass to many being paid Millions who in their brilliance nearly destroyed the entire (not just US, but entire) global financial system. The same crowd who has shipped as many jobs as possible out of the Country for the last 30 years with no regard to its effect on the long-term strength and welfare of this Country.
Larry hates anyone not in the upper class and feels everyone else should bow down to these intellectual idiots and assholes. If Larry is a “true American”, then I guess I am not sure what a true American is… anymore. Contrary to his worldly views, (without the common man) nothing really happens. Out here, we make, repair and support real things. The world of Larry and those like him exist only in the minds of imbeciles and heretics.
I guess what did it for me with LK was a few years back when he badgered anyone who came on his show showing any hints of support for a minimum wage increase for wage earners. His view is if you can’t make it on two lousy jobs, go get a 3rd job. If you can’t afford health insurance, then don’t get sick. Pure, unmitigated greed is Larry’s mantra. Larry and those like him are what got us into this mess in the 1st place. Of course, now the whole world knows that, huh.
February 7th, 2009 at 9:45 pm
I am a salestrader, work on a tradingfloor. We have about a dozen TVs on the floor, all on CNBC. We are all getting sick of CNBC. WHen they started having adds for themselves, it got over the top. ….. “I am CNBC”. Are they kidding. They consider themselves bigger than the news. Kernen is the absolute worst, a complete conservative hack spitting out GOP talking points at ever turn. Even worse is during ‘power lunch’ when they put 8 to 10 people up on the screens. What could you possibly get out of that many people talking at once for 2 minutes.
We are getting very close to having the entire trading floor turned over to Bloomberg TV. CNBC may be slightly more entertaining, but sometimes we want to hear about the markets.