Tim Arango of Fortune got an inside look at the development of Fox Business Network, which debuted this morning.
Arango wrote, “Among the guests the channel has lined up for its first week are eBay CEO Meg Whitman, New York Stock Exchange CEO John Thain, the oil tycoon T. Boone Pickens, and the former pro golfer turned entrepreneur Greg Norman.
“Fox recently made a high-profile move by hiring former Hewlett-Packard chairman and CEO Carly Fiorina as a paid contributor. ‘I think there’s a huge hunger for more understanding and access to the markets, business, and economic issues,’ she told Fortune. ‘I’ve seen that from the reception of my book [“Tough Choices: A Memoir”]. While the public may not understand all aspects of business, they know the economy is the driver of our way of life and the foundation of our power.’
“Murdoch and his team may be onto something. ‘It would be so cool if we could have a channel that was more geared toward the individual,’ says Lynn Ostrom, who runs the Crow River investment club in Minneapolis. Its 13 members meet once a month in her living room to discuss stocks. ‘There isn’t anything. Everybody out here in Main Street knows [CNBC’s morning show] Squawk Box is all hype, but it is the only thing we have.’ Instead, her group, which includes a landscaper, two nurses, a carpenter, and a retired insurance underwriter, tends to ignore CNBC and use websites like stockcentral.com and manifestinvesting.com for stock tips.”
Read more here.
