2008-10-12 01:01:44
FOX Business Network (FBN) Going After Jim Cramer Hard During Market Meltdown
Fox Business Network (FBN) is attempting to use the recent market meltdown to convert CNBC viewers to their network. They have launched an extremely aggressive marketing campaign in recent weeks that has attacked the credibility of CNBC's biggest star and most recognizable name, Jim Cramer.
FBN took out print ads in the New York Times and Wall Street Journal, and they have also run a 30 second commercial on FBN and FNC (Fox News Channel).
The 30 second commercial can be viewed below:
The print ad, splashed with an ample amount of red to remind people of the direction of the stock markets as of late, can be seen below:
The ad starts out by asking the reader the question - "Can you afford to watch CNBC?" It then goes on to point out some of Cramer's most memorable gaffes over the past few months, including imploring his viewers that Bear Stearns was "fine" and that Wachovia should be bought. The ad closes by asking the reader another question - "Wouldn't you rather watch Fox Business Network, owned by the same people who own the Wall Street Journal?" For one last added touch, the ad features a picture of a "bobblehead" Cramer at the top right of the page.
CNBC has pointed to the strong ratings of "Mad Money" as proof that people still care about what Jim Cramer has to say. FBN has pointed out that many in the investment community are enraged with Cramer right now, due to his poor picks and flip-flopping.
I have my own opinions on Jim Cramer and CNBC, but that's not the point of this article. I want you know what YOU think. What do you think about Cramer, and what do you think about the FBN attack ads? Fair game, or is Fox unfairly trying to capitalize on the current panic in the markets?
Filed under: General Market News
4 COMMENTS - What Say You?
Comment by chris on October 12, 2008 @ 7:39 pm
Cramer gives it out all the time. The wall of shame etc.....and how he calls everyone out and acts as though he is knows all. I think the campaign is harsh and surprised me but he makes horrible calls and won't stop. He thinks what worked 10 years ago will work and he missed this entire meltdown. His whinning about the fed was more self serving hype than anything else. He was saying to buy home builders after a rate cut.....he was completely clueless. He recently was saying how great WB was while he had no idea how bad their mortgage portfolio was at the time. WB purchased or took over world savings.....a bank that was deep into option arms and adjustable rate notes and some low documentation loans. This has been widely under reported as wb tries to fool investors into the stock just like Cramer. He has played the game by himself for years and gotten away with it and now someone else is in the game. Interesting to see how a self absorbed, self promoting narcissist will respond
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Comment by benjack on October 13, 2008 @ 12:22 pm
Awesome blog thanks for sharing.
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Comment by F.Rupert on October 17, 2008 @ 9:40 pm
Cramer is upfront and honest about his connections. Take his advice or don't but FOX are scum liars who don't follow journalism just their own agenda.
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Comment by Ash Nehra on October 27, 2008 @ 6:16 am
I think Jim Cramer and CNBC are both useless unless you are DOING THE OPPISITE OF WHAT THEY TOUT. If Jim Cramer says BUY X, I would and have SHORTED X. If you really want to make money in the market do the oppisite of what Cramer says. No one can be THAT WRONG SO MANY TIMES, Jim Cramer and CNBC have NO CREDABILITY ever since the DOTCOM BUST OF 2000. As the general public is finding out, Wall Street has NO CREDABILITY and Cramer and CNBC just PIMP for the Street. People in the financial community know what Cramer is and I think most folks stick with Bloomberg TV for a more honest view of what is happening on Wall Street. I love the attack of Cramer, average investors NEED TO KNOW THAT CNBC PIMPS FOR WALLSTREET and tout stocks that the Street wants to sell to a unsuspecting public.
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