CNBC's bad business move

Rachel Sklar writes on The Daily Beast that CNBC letting senior vice president Jonathan Wald leave at the end of March could be a bad move for the business news network.

Sklar writes, “For his part, Wald told the Daily Beast: ‘They wanted me to stay, I wanted to stay—we just couldn’t in the end work out a deal we could both be happy with.’

“Here was the source of the collective eyebrow raise. Is it really that hard to retain your top executive in a recession during the best run in your network’s 20-year history? When he doesn’t even have another job lined up?

“Apparently so.

“But maybe it’s not such a surprise. If you’re the guy who’s gotten the credit for a double-digit ratings hike in 2006 and 2007 — not to mention the exponential spike during the financial crisis — at some point, you’re going to want a promotion. But Hoffman has reportedly just re-upped to stay on for another five years so moving up a rung was not at option. You’re also going to want some money — but according to sources within NBC and CNBC, Hoffman wasn’t ponying up.”

Read more here.