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NBC's Zucker: The Industry's Punching Bag

Mon, 23 Nov 2009 16:29:06 GMT

clipped by: Lacey Rose
clipper's remarks: Though Zucker's resume includes far more successes (cable, news, today show) than it does failures (prime-time), he is most associated with NBC' prime-time problems and will remain a press pinata until the network climbs out of the ratings basement -- or Comcast brass replace him, whichever comes first.

Clip Source: latimesblogs.latimes.com

A press favorite when he was the wunderkind producer of NBC's "Today," those days are long gone and now he is pretty much a punching bag. Earlier this month, New York magazine called him a "reviled wonder boy" and said the "beleaguered and tattered Peacock Network deserves better." For every story that says Comcast is planning on leaving Zucker in charge if it takes control of NBC Universal, there are snickers from industry insiders and snarky comments on Twitter and blogs elsewhere on the Internet questioning Zucker's management skills.

While much of NBC Universal is doing well -- particularly news and cable -- Zucker is ripped for NBC's prime time woes.

While broadcast television in general has faced erosion over that same time period, NBC's declines have been far steeper than its rivals'.

What Oprah Did Right

Mon, 23 Nov 2009 16:20:40 GMT

clipped by: Lacey Rose
clipper's remarks: A study in what Oprah has done (and continues to do) right, reports the NY Times. Will signing off after 25 years to focus her efforts on OWN be added to the list? If history is any indication, the answer is yes.

Clip Source: www.nytimes.com

She never took her company public, which meant that she remained in control of both her operation and her destiny (see Martha Stewart).

She never christened her own book imprint even though she created best sellers with the flick of the wrist (see Miramax/Talk).

She never stuck her name, a very powerful brand, on any merchandise (see Martha again, along with a host of chefs and athletes).

She did not license her name to a magazine, she built one in her own image and tweaked it until it became a big publishing success (see Donald Trump, et al).

She never engaged in behavior that tarnished the luster of her name. (Martha again, plus David Letterman).

She also never made big deals just for the sake of synergy (AOL-Time Warner), never got addicted to doing deals (see Barry Diller), never made dubious investments that put a strain on her core business (Sumner Redstone and Midway), never let in-house corporate politics boil into public view (Michael Eisner).

BBC-Ya

Thu, 19 Nov 2009 19:01:09 GMT

clipped by: Lacey Rose
clipper's remarks: Garth Ancier’s list of impressive positions he formerly held just got longer. Before joining BBC America as President 3 yrs ago, he held chief roles at Fox, NBC and the since-shuttered WB. During his tenure at BBC, he’s credited with doubling the networks ratings, raising the company's profile and increasing profits nearly 80%. No reason for his replacement has been provided.

Clip Source: www.variety.com

Garth Ancier will exit his post as president of BBC Worldwide America in March.

Ancier, the one-time entertaiment president at FOX, the WB (where he was later CEO) and NBC, announced his plans on Thursday. He'll move into a position as a non-executive director of the company after that.

Odds of conception

Tue, 22 Sep 2009 16:45:42 GMT

clipped by: Joshua Zumbrun
clipper's remarks: I saw this posted on Slate, and just want to make a comment about the math.

The "extraordinary odds" of a 43-year-old conceiving naturally are only 1-3 (or maybe 5)% in a given month, says the article.

Question: what are the odds in two months? This is just a basic probability question. What are the odds of not getting pregnant two months in a row? Say there's a 5 percent chance of getting pregnant, there's a 95% chance of not getting pregnant. The odds of not getting pregnant for two months are thus (.95*.95=.9025). So there's a .05 chance in one month but a .0975 chance of pregnancy in two months. For three months it's (.95*.95*.95=.857). For a three month affair, that'd be a 14.43% chance of pregnancy. Still unlikely but not really extraordinary.

Say an affair lasts for 16 months, from February 2006 to May 2007 perhaps. At 3 percent per month, the math works to a 41% chance of getting pregnant. At 5% it's a 59% chance of pregnancy.

"Extraordinary odds"? The math says not

Clip Source: www.doublex.com

Rielle Hunter Beat the Odds

By Sarah Elizabeth Richards

We know that former presidential candidate John Edwards may announce that he fathered Rielle Hunter’s baby. But how did she become pregnant in the first place? No, not the obvious—“Oops! I forgot the birth control!” How did Hunter beat the extraordinary odds, given her age, to conceive the child naturally?

Tags: conception, hunter, unlikely, sarah elizabeth richards, slate

9 Questions for Ben Bernanke

Mon, 21 Sep 2009 18:07:10 GMT

clipped by: Joshua Zumbrun
clipper's remarks: This is very sharp.

A lot of commentary on the Fed quickly devolves into conspiracy theory and pumping gold portfolios, and so it's refreshing to see some substantive ideas.

Clip Source: www.slate.com

Nine Questions for Ben Bernanke

By Eliot Spitzer

Yet as we appear headed to reinforce the Fed as the center of all economic power, there are enormous questions that remain, and Bernanke needs to answer them at his upcoming Senate confirmation hearings. The scope of authority now claimed—and sought—by the Fed makes these confirmation hearings more important than any I can recall. The performance of the Fed over the past several business cycles gives me enormous pause. We should enter these hearings with an agnostic view about Bernanke's suitability and an understanding that he carries the burden of proving his case. This may be the one genuine opportunity to plumb the depths of lessons learned—or missed—about the economic catastrophe.

Here are nine questions Bernanke needs to answer before he wins another term.

Tags: spitzer, bernanke, federal reserve, questions

In Denial About Financial Reform

Mon, 21 Sep 2009 17:11:34 GMT

clipped by: Joshua Zumbrun
clipper's remarks: Also see Dan Indiviglio over at The Atlantic: http://business.theatlantic.com/2009/09/why_is_washington_ignoring_the_real_causes_of_the_crisis.php

The danger of putting a lawyer in charge of something like this is, in my opinion, best exemplified by Neil Barofsky, the attorney they put in front of TARP oversight.

Barofsky has used his pulpit to put out some really meaningless and misleading numbers. We need real information from these guys, not noisy innumerate numbers.

See: http://www.forbes.com/2009/07/27/bailout-bad-math-business-washington-barofsky.html

Clip Source: correspondents.theatlantic.com

Financial Regulatory Reform: The Politics of Denial

Richard A. Posner

Two bad recent signs concerning the movement to reform financial regulation: The first is the first public meeting of the Financial Crisis Inquiry Commission, created by Congress four months ago to investigate the causes of the financial crisis and report back at the end of next year. The commission has gotten off to a slow start, and even though only one member of the commission could (I believe, though I am not certain, and welcome correction) be described as a professional economist (Keith Hennessey), and even he is more a political operative, the commission has appointed as its executive director not an economist but a lawyer--a prosecutor in the California attorney general's office. And at its first public meeting members of the commission made statements which suggest that they will divide along the predictable political lines (six of the members are Democrats, four Republicans).

Tags: posner, financial reform, denial, inquiry commission, wrong issues

How to write the sequel to the Da Vinci Code

Thu, 17 Sep 2009 21:54:47 GMT

clipped by: Joshua Zumbrun
clipper's remarks: This is fantastic.

Clip Source: www.slate.com

The Dan Brown Sequel Generator

By Chris Wilson

At the stroke of midnight on Tuesday, renowned author Dan Brown will publish The Lost Symbol, his fifth novel and the third to star Harvard symbologist Robert Langdon. Early reviews report that Brown's new thriller has all the elements that made The Da Vinci Code a phenomenal success: intricate conspiracies, sexy sidekicks, and grotesque villains intent on stopping our erudite yet brave hero at all costs. Previous Langdon adventures have taken him to Rome, Paris, and London in pursuit of the Vatican's mysteries. The new novel takes place Washington, D.C., and delves into the mysteries of the Freemasons.

Tags: dan brown, da vinci code, sequel, generator, formulaic, lame, bad writing

Finally, Some Late-Night Stability

Tue, 09 Jun 2009 15:58:27 GMT

clipped by: Lacey Rose
clipper's remarks: As NBC tests the waters with another (risky) hour of late-night fare (in prime-time) CBS is wise to hold on to its stable alternative. After a decade-plus at no. 2, the tiffany network's veteran host has a real shot at poaching former Leno viewers and winning the ratings war.

Clip Source: www.hollywoodreporter.com

The network is about to re-sign the Emmy-winning talk show personality to continue hosting "Late Show With David Letterman" through the 2011-12 season, sources said. The agreement would mark a two-year extension of his current contract, set to expire in 2010.

The decision comes as NBC makes dramatic changes to its late-night lineup, moving top-rated host Jay Leno to 10 p.m. in the fall and installing Conan O'Brien behind the "Tonight Show" desk. O'Brien bested Letterman in the ratings during his first week on "Tonight," but the gap narrowed as the frame progressed.

Hockey in Trouble in the Desert

Thu, 30 Apr 2009 16:40:45 GMT

clipped by: Tom Van Riper
clipper's remarks: The NHL's Phoenix Coyotes are floundering, yet the league says they're staying put.

Clip Source: www.thestar.com

Even with the Phoenix Coyotes' debt mounting, speculation growing about bankruptcy and no new owner in sight, the NHL insists the team is staying put.

The Coyotes have never made money since owner Jerry Moyes became an investor in 2001, and annual financial losses have exceeded $20 million (all figures U.S.) during his tenure.

50% Tax Rate Causes Banker's to Flee the City

Tue, 28 Apr 2009 20:40:54 GMT

clipped by: Maurna Desmond
clipper's remarks: Higher tax rate in London and New York are bound to force financiers to order someone to pack up their things. But where will they go? Pal Beach, anyone?

Clip Source: www.bloomberg.com

Prime Minister Gordon Brown’s proposal to boost the tax rate to 50 percent from 40 percent on income above 150,000 pounds ($220,000) pushed headlines about “class warfare” onto the front pages of the capital’s newspapers. It also prompted predictions from business groups that it would undermine the U.K.’s competitiveness and lead to an exodus of financial talent. Brown was portrayed as Vladimir Lenin in a cartoon on Page One of the Daily Telegraph.

The income-tax change, set to take effect next year, would give the U.K. a higher top rate than Spain, Italy, Germany, France and the U.S., according to KPMG, the accounting firm. Among the 30 members of the Organization for Economic Co- operation and Development, the country would jump to seventh from 19th in the rankings of tax rates, accounting firm Ernst & Young said.

Citadel CEO wants to Uncle Sam to cover your Downpayment

Tue, 28 Apr 2009 18:58:03 GMT

clipped by: Maurna Desmond
clipper's remarks: Doling out 20% downpayment loans is a great idea, except the FHA already lets anybody get a 3% down loan with relatively low fees.

Clip Source: blogs.reuters.com

Griffin said that the economy won’t recover until the financial system does, and that the financial system won’t recover until the housing mess is resolved, and that the housing mess won’t be resolved until the huge overhang of unsold real-estate is dealt with, and that the huge overhang of unsold real-estate won’t come off the market unless and until people start buying houses again, and that people won’t start buying houses again unless they can come up with downpayments, and that people clearly can’t come up with downpayments because the US savings rate has essentially been zero for most of the past decade. So Griffin’s proposed solution was for the government to provide low-cost, full-recourse 20% downpayment loans to anybody who wants to buy a house. Yes, he said, no-money-down house purchases were what got us into this mess to begin with, but we kinda need them in order to get out of the mess too.

Tarp Overseer Stressed Over Tests

Tue, 28 Apr 2009 15:36:14 GMT

clipped by: Maurna Desmond
clipper's remarks: If any equity analyst could run their own stress tests per Friday's white paper, then who'd care about the New York Fed's?

Clip Source: www.reuters.com

TARP cop sees unstressful bank tests

She said, ideally, the document released by the Federal Reserve on Friday would have provided enough detail to allow outsiders to run their own version of the stress test on the largest banks. The government plans to release the results of the tests on May 4.

Warren also said the public needs details on how rigorous the stress tests really were because the macroeconomic assumptions involving unemployment were not that much more severe than current conditions.

"It looks disturbingly close to where we are now," Warren said.

Tags: tarp

Obama to Lunch with Credit Card Execs

Wed, 22 Apr 2009 16:56:30 GMT

clipped by: Maurna Desmond
clipper's remarks: Credit card debt is a huge burden to the average American. Since rates can jump at anytime to any level, cash-strapped consumers are at the mercy of cc companies.
Here's an idea: why not refinance credit card debt instead of mortgages? That's the real interest rate crunch and principle writedowns wouldn't be necessary since it's the interest accruing and not the amount owed that's the trouble.

Clip Source: www.slate.com

St. Obama of the DebtorsA planned meeting with credit card companies may not be as constructive as the administration suggests.

Later this week, Obama will assume the role of patron saint of credit card customers when he meets with the credit division executives of 14 major banks. Obama is expected to take a hard line with the companies, joining the chorus of legislators attempting to push broad regulatory bills through Congress that would limit the companies' abilities to impose fees and to tinker with interest rates. What the White House is calling an "outreach meeting" is sounding a lot less friendly given the threat of legislation behind it. Considering the average American household has $9,000 worth of credit card debt, the 'Meter likes the sound of Obama's firm stance (and the coordinated effort with Congress) and tosses him 20 points.

Tags: credit, bailouts

Foreclosing Our Way to Affordable

Tue, 21 Apr 2009 23:21:36 GMT

clipped by: Maurna Desmond
clipper's remarks: People can now prudently buy in most major markets according to a recent IHS report.

Clip Source: blogs.wsj.com

Home Prices Return to Affordability in Much of U.S.

The quarterly report – by economists at IHS Global Insight, a research firm, and PNC Financial Services Group Inc., a banking concern based in Pittsburgh – looks at price trends in 330 metropolitan areas across the country. Home prices are “extremely overvalued” in only one of those areas, Atlantic City, N.J. In 2005, 52 metro areas were in that category. (See full report.)

Tags: mortgage housing

Investors want to revamp Failed $300B FHA Program

Tue, 21 Apr 2009 23:03:28 GMT

clipped by: Maurna Desmond
clipper's remarks: The Government's most expansive mortgage effort so far has resulted in one loan. The mechanics of the Hope for Homeowner's program has promise. It just needs some kinks worked out.

Clip Source: www.npr.org

Investors Support Overhauling Homeowner Program

Critics say homeowners didn't like the program, and most couldn't qualify anyway. There were problems with the way the law dealt with second mortgages such as home equity loans. And, perhaps most importantly, there was also no real money in it for the lenders who were supposed to do the work to refinance the borrowers.

Tags: mortgage, housing