Destroying a Franchise--CNBC

Like the trust fund baby with no sweat equity in the New York Times and a contempt for the past, we now have CNBC, the financial markets network, whoring themselves out to non-business special interests and to hell with what is happening in stocks, interest rates, and commodity prices right now. And just like the NYT (but without the trust fund baby) they are whoring out for political interests and those interests are Democratic Party, natch.

So what? Look for sagging ratings and sagging revenues as people who actually need current news right now move to Bloomberg TV. How long will the stock price of their parent hold up? Well, the Olympics are over and the betting is that NBC will return to ratings hell. GE seems unconscious right now and GE stock is plunging as you read but GE management doesn't seem to care about their various parts.