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A glimpse at the impending Fox Business Channel

Reported by Chrish - July 25, 2007 -

Last week, during the breathless coverage of the Dow's climb to 14,000, viewers were introduced to previously unseen "Fox Business Correspondents" on The Big Story. Their segments were positively giddy with anticipation and excitement. Yesterday 7/24/07 on The Big Story guest host Greg Jarrett did a segment on Starbucks raising their prices by $.09/beverage and he and FBC Cheryl Casone analyzed the heck out of the big business news.

Casone chalks it up to needing to cover expenses incurred during expansion, health care costs, etc. They compared prices of a Starbucks drink and a larger, cheaper one from Dunkin' Donuts, concluding the DD was a better value. Casone said analysts on Wall Street were actually weighing in on whether people will be upset enough with Starbucks to switch; there's a big debate! Jarrett agreed, saying there was a big discussion among the producers this morning about the very same thing, the most vigorous discussion he had ever heard!

As this drivel continued and they speculated if people were going to revolt against the increase and switch to DD or McDonald's, one could legitimately wonder if the true reason for a FOX Business Channel is to propagandize the dumbed down viewers into supporting corporations favorable to Murdoch's own interests. Not saying, just wondering, like FOX Business honcho Cavuto is known to do.

Asked about the drop in the Dow today, Casone quickly ran down some sound bites - nervousness about sub-prime, some earnings misses, "but remember, we had 32 record closes this year, and when you're sitting around the 14,000 mark, what is 200 points? If you look at the bigger picture, it's not that bad." Amazon.com is doing well, people are buying computers and books, so all is well.

Expect a new swagger as the FOX faithful herd on over to FBC and become savvy investors, as savvy as they are about national affairs.