OLD Media Moves

Fox Biz's Gray on covering biz news

October 18, 2009

David Bracken of The (Raleigh) News & Observer interviewed Robert Gray of Fox Business Network about his job. Gray is a North Carolina native.

Here is an excerpt:

Q: What was it like covering the crisis on Wall Street last year?

Living in New York, you’re so close to the story. I can remember the weekend Lehman Brothers filed for bankruptcy I had brunch with someone who worked there, and they weren’t quite sure what was going on.

On a personal and professional level, you’re so close to the story. You know people at all of these firms who are affected by these bankruptcies.

I can remember Sunday nights standing out in front of various firms wondering who was next because the market was moving against a lot of the big firms as it had against Bear Stearns and then Lehman Brothers. You name any of the firms, and they were all at risk. … It was very exciting because you never knew what was coming next and you were trying to stay ahead of the story.

Q: How would you rate the business press’s coverage of last year’s financial meltdown?

It is interesting because so much can move on rumor and speculation. Right around the Bear Stearns time when you’ve got CEOs going on TV and saying “Oh, we’re fine” and then they are totally teetering that weekend.

It just shows you how fast things move now. The market itself, the press, the Internet, Twitter, all of these methods of communication can really turn the tide of momentum very quickly.

Read more here. Disclosure: Gray has spoken to my UNC business journalism classes in the past.

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