Thursday, July 16, 2009

The CNBC Business Model

Whit the recent elimination of anything even remotely approaching journalistic rigor or analysis, and its substitution with endless propaganda and the pitching of "hope" as an investment conduit, many have been scratching their heads over the question of just how it is that CNBC is still on the air, let alone make money: after all selling hope is a very expensive process.

I provide the answer.

Below is an early segment from CNBC in which Joe Kernan provides his analysis of Schwab's just released results. As the video quality is pretty bad (yeah, I know, sorry) I will summarize how it works:

1. Intro - Kernan: Glowing review of Schwab's EPS "beat"

2. Kernan: "Schwab is a fine, fine company and a fine individual."

3. Kernan: "...and quite a sponsor for us."

4. Kernan: "...and we are ready to just be sponsored on Squawk Box."

5. Conclusion - Kernan: "...I don't think you can have too much [of Schwab]."

6. Cut to Charles Schwab Commercial.

So now you know.

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