I heard a couple of years ago that the same great folks who brought you Fox News were launching Fox Business to compete with CNBC and Bloomberg for the upscale types who concern themselves with business, finance and investments.
Until last week, this was just a rumor to me. Our cable provider, Suddenlink, doesn’t carry Fox Business and I haven’t seen it at any of the hotels we’ve visited in recent years. Nobody I know has seen it either–not that I asked that many people. I just dismissed it as another iteration of the Fox mantra that all of our problems are the fault of Obama or Democrats or liberals.
It turns out I was pretty close to the truth.
I finally saw Fox Business last week in Santa Monica when I stepped onto a treadmill in the gym of the hotel where we were staying. It was morning drive time, and Varney & Co. was on the air.
The first story I saw was about a raid by tax authorities on the Paris office of McDonald’s, part of a long-running tax dispute. The French claim McDonald’s has hidden profits in an effort to avoid over $300 million in taxes; of course, the company disputes this. But Stuart Varney knew better, portraying this as a socialist government trying to bleed a successful capitalist enterprise.
Next up was a story about food protests in Venezuela, snidely referred to as “a socialist workers paradise” by Varney. “No comment from Michael Moore or Bernie Sanders,” chimed in two Fox Stepford bimbos at his side.
That was followed by stories on Obama’s apology tour in Japan and Hillary Clinton’s continuing email problems. I have no clue how any of this impacts business in general or my investment decisions, but that didn’t stop Neil Cavuto from rehashing the same topics when his program started at 9 a.m.
Just a chip off the old block.
NICE TOUCH: Fox Business does have one nice feature its competitors should copy: When the current trading activity of a stock is shown, Fox also tells you how much the stock has gained or lost this year. That’s useful information for momentum traders or people who like to track the big players in various sectors.