CNBC
From Wikipedia, the free encyclopedia
- This article is about CNBC, the business news channel. For other uses see CNBC (disambiguation).
| CNBC | |
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| Type | Cable news television network |
|---|---|
| Branding | CNBC |
| Country |  United States |
| Slogan | "First in Business Worldwide" "America's Business Channel" |
| Market share | 79% at working places (June 2003, Source: CNBC Business Day Viewer Tracking Study, Wave 6, Mendelsohn Media Research) [1] |
| Broadcast area | United States,  Canada |
| Owner | NBC Universal |
| Launch date | April 17, 1989 |
| Website | CNBC.com |
| CNBC U.S. | |
|---|---|
| Headquarters | NJ, U.S. |
| Availability | |
| Satellite | |
| U.S. DirecTV | Channel 355 |
| U.S. Dish Network | Channel 208 |
| AMC-10 (formerly Satcom C4), C-band Digital |
Channel 101 (Transponder 13) |
| Cable | |
| Numerous | variable channel number |
| Satellite Radio | |
| Sirius | Channel 129 |
| XM | Channel 127 |
| Online Watching | |
| CNBCplus | [2] |
CNBC (an abbreviation for the Consumer News and Business Channel, its official name until 1991) is a group of cable and satellite television Business news channels from the U.S., owned and operated by NBC Universal. CNBC and its international spinoffs cover business headlines and provide live coverage of financial markets.
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[edit] History of CNBC U.S.
The original CNBC channel was launched in Fort Lee, New Jersey, on April 17, 1989. Soon after, it merged in 1991 with the Financial News Network (FNN), and the name "Consumer News and Business Channel" was dropped. Sue Herera is an original anchor at CNBC, and remains on the air co-hosting Power Lunch. Scott Cohn is an original reporter at CNBC, and remains on the air as Senior Correspondent. Some reporters from FNN joined CNBC, like Ron Insana, Bill Griffeth and Joe Kernen. At first, the network's business programming was branded "CNBC/FNN," but that was dropped before the mid-90's.
CNBC began to grow during the 90's, taking over London based EBN (European Business News) in 1998, while ratings grew on the U.S. channel until the new millennium's dot-com bubble burst in 2000.
The new millennium also brought new changes to the network, moving it's world headquarters from Fort Lee to Englewood Cliffs, New Jersey (Google map) in 2003, which features completely digital video production.
Today, CNBC provides business news programming from 4 a.m. to 8 p.m., Eastern Time, while broadcasting talk shows, investigative reports, documentaries, infomercials, and other programs during the evening and early morning. A rolling ticker provides real-time updates on share prices on the NYSE, NASDAQ, and AMEX, as well as market indices, news summaries, and weather updates by NBC Weather Plus. A rotating, top band of the screen rotates provides real-time updates on index and commodity prices from world markets.
CNBC is the only NBC network whose abbreviation, while containing NBC, stands for another name: the Consumer News and Business Channel. The moniker was simply shortened to CNBC when the former was dropped. NBC could also be used for its parent company, NBC Universal.
[edit] Programming
[edit] Present Shows
CNBC provides a variety of programs throughout the business day presenting reports on U.S. businesses, updates of stock market indices and commodities prices, interviews with CEOs and business leaders, and commentary from many investment professionals. The following is the usual "business day" (term used by CNBC hosts and announcers) lineup (as of January 2007, all times Eastern):
| ET | Program | Hosts | Description | Corresponding programs | |
|---|---|---|---|---|---|
| CNBC Europe | CNBC Asia | ||||
| 4a-6a |
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Michelle Caruso-Cabrera, Ross Westgate, Christine Tan | first word on movements on futures exchanges and trading in Europe and Asia |
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| 6a-9a |
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Joe Kernen, Carl Quintanilla, Rebecca Quick, Charles Gasparino | provides a mix of business news and commentary |
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| 9a-10a |
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Mark Haines, Erin Burnett (both live from NYSE), David Faber | broadcasts live from above the New York Stock Exchange | ||
| 10a-12p |
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Liz Claman, Mark Haines (10-11am hour), various anchors (11am-noon hour); Haines live from NYSE | focuses on real-time market coverage |
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| 12p-2p |
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Bill Griffeth, Sue Herera | examines the companies, people, and trends influencing Wall Street |
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| 2p-3p |
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Erin Burnett | focuses on trends, world events affecting stock markets, and real-time market coverage | ||
| 3p-5p |
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Maria Bartiromo, co-hosted with Dylan Ratigan for the 3-4pm hour (Ratigan live from NYSE) | covers the close of the trading day and real-time market coverage |
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| 5p-6p |
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Lawrence Kudlow | provides market and economic commentary and interviews | ||
| 6p-7p |
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James Cramer | a fast-paced show offering stock advice to callers | ||
| 7p-8p |
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Melissa Francis | recap of all the day's business news |
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| 8p-9p |
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Dylan Ratigan | fast-paced roundtable discussion of stocks for short-term trades | ||
CNBC has experimented with non-business programming during primetime hours, but many of these shows have been unsuccessful and cancelled. CNBC's primetime lineup features The Big Idea With Donny Deutsch and the channel has rebroadcasted several NBC programs, including Late Night with Conan O'Brien, Deal or No Deal, The Apprentice, The Apprentice: Martha Stewart, and 1 vs. 100. Prior to April 20, 2006, the programs in the primetime hours are showed with the aforementioned scroll with news headlines and weather updates at the bottom of the screen. Late Night with Conan O'Brien was replaced with the new program On The Money. Paid Programs are typically aired from 2 a.m. to 4 a.m.
Currently in primetime, the network re-airs the NBC programs The Apprentice, Deal or No Deal and 1 vs. 100 along with its own CNBC Prime, Mike on the Money, and CNBC produced documentaries.
On January 24, 2007, the network launched its long-anticipated monthly newsmagazine called Business Nation, which is anchored by David Faber. According to the Washington Post, the program "will have three stories a month, a mixture of profiles, investigative pieces and features". The format of the newsmagazine is structured similarly to HBO's Real Sports. [3]
CNBC's breakout hit among its original series is Mad Money. Hosted by money manager Jim Cramer, the hour-long show gives stock advice to viewers who call in at 1-800-743-CNBC(2622). The show also has a popular segment called "The Lightning Round".
Other special or weekend programming includes CNBC on Assignment (for example, The Age of Wal-Mart), Cover to Cover, The Suze Orman Show, Outside the Box, The Wall Street Journal Report with Maria Bartiromo, and Tim Russert.
[edit] Past shows
Among the shows that have been canceled are:
- America Now with Lawrence Kudlow and James Cramer
- Bullseye (replaced by Mad Money on March 14, 2005)
- Business Center with Ron Insana and Sue Herera (previously hosted by Maria Bartiromo and Tyler Mathisen)
- Hardball with Chris Matthews (moved to MSNBC)
- Kudlow & Cramer (replaced by Kudlow & Company after Jim Cramer left the show in 2005 to host his own show, Mad Money)
- Louis Rukeyser's Wall Street (ended its run on New Year's Eve 2004 at Louis Rukeyser's request)
- Market Wrap (replaced by Closing Bell and Kudlow & Cramer)
- Morning Exchange with Liz Claman (replaced by Market Watch with Maria Bartiromo and then by Midday Call and then replaced by Morning Call)
- Rivera Live with Geraldo Rivera
- The News with Brian Williams (renamed The News on CNBC later on, ended its run on May 14, 2004)
- Today's Business (replaced by Wake Up Call on February 4, 2002)
- Wake Up Call (replaced by Worldwide Exchange on December 18, 2005)
- Topic [A] with Tina Brown
- Open Exchange (replaced by the revived Street Signs on December 8, 2003)
- Politics with Chris Matthews
- Checkpoint CNBC (replaced by Bullseye on December 8, 2003)
- National Geographic Explorer (moved to MSNBC and then to the National Geographic Channel)
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[edit] Personalities
[edit] Present Personalities
[edit] Anchors, Reporters, and Hosts
[edit] Business Day
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[edit] Primetime and Weekends
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[edit] Contributors
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[edit] Past Personalities
- Brenda Buttner (now a business correspondent for Fox News Channel)
- Neil Cavuto (now host of his own show, Your World with Neil Cavuto on Fox News Channel)
- Jerry Cobb (left to pursue another venture, as announced by Bill Griffeth on-air on November 24, 2006)
- Tom Costello (now a correspondent for NBC News)
- Karen Gibbs (was previously a co-host of the now-defunct PBS program, Wall $treet Week from 2002-2005, and before that, was a business correspondent for Fox News Channel from 1996-2002)
- Alexis Glick (soon-to-be Director of Business News for Fox News Channel)
- Brad Goode (now an anchor for the morning and noon newscasts at KING-TV (NBC) in Seattle)
- Terry Keenan (now a business correspondent for Fox News Channel)
- Maya Kulycky (now a correspondent for ABC News)
- John "Bradshaw" Layfield (now a color commentator for WWE Friday Night SmackDown and a business contributor for Fox News Channel, which he rejoined in 2005 after he was fired from CNBC in 2004)
- Martha MacCallum (now host of her own show, The Live Desk on Fox News Channel)
- John McEnroe (was host of his own short-lived 2004 talk show, McEnroe, now a tennis commentator)
- Dennis Miller (was host of his own short-lived talk show, -- now a Fox News Channel contributor)
- Al Roker (now weatherman for the Today show on NBC)
- Marci Rossell (was contributor for Squawk Box until she left CNBC in 2003)
- John Seigenthaler (now anchor of the weekend editions of the NBC Nightly News)
- Bob Sellers (now an anchor for Fox 5 Morning News at WTTG (FOX) in Washington, DC)
- John Stehr (was one of the original anchors of the Money Wheel -- now primary anchor at WTHR, Indianapolis)
- Brian Williams (now anchor of the weeknight editions of the NBC Nightly News)
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- Morton Downey, Jr. (died in 2001)
- Louis Rukeyser (died on May 2, 2006)
[edit] Ratings
CNBC has had a difficult time as of late attracting viewers, although viewership is significantly up from the 2005 bottom. There is a fairly clear correlation between the markets' performance and CNBC's viewership.
During the late '90s and early 2000s, CNBC's ratings were exploding along with the market. In fact, CNBC often beat CNN during the daytime. However, the market took a tumble in 2001 and along went CNBC's ratings. In 2001, daytime viewership at the network peaked at 330,000, right before the peak of the Nasdaq. The network's ratings steadily fell quarter after quarter, year after year, until bottoming in Q2 2005, with an average viewership of 134,000 during the day. From the bottom, the network, along with the markets, have rebounded significantly -- daytime viewership now stands at 211,000 (as of mid-2006). Even though that pales in comparison to what Fox News and CNN draw in today, it is still a very healthy 57% increase in viewership within the span of 1 year. [5] Despite the viewership slump since the turn of the decade, CNBC is extremely profitable: average revenues top $510 million [6] while profits for the network exceed $250 million per year, making CNBC a cash cow for NBC Universal and its parent company, General Electric. [7]
While daytime viewership has held up relatively well, primetime viewership is still relatively weak and the network continues to try and rejuvenate their primetime lineup. Their newest attempt to attract more viewers is by introducing a "Checkerboard" programming approach. The network will put in various programming throughout the week that would interest viewers, including documentaries, town-hall style discussions and more. [8]
It is important to note that much of CNBC's viewership, particularly during the daytime, is done "out of home", something that traditionally is not measured by Nielsen ratings. As a result, it would be fair to say that the network's true viewership is considerably higher than what is reported.
[edit] CNBC US Taglines
- "America's Business Channel" (secondary) (2005 or earlier - )
- "First in Business Worldwide" (primary) (June 12, 2006 - )
- "The World Leader in Business News" (2004 - June 11, 2006)
- "Make It Your Business" (2002-2004)
- "Business for the New World" (2002) (Video:[9])
- "Profit From It" (1998 - 2002)
- "First in Business, First in Talk" (1995) (Video:[10])
[edit] Trivia
- There are weather updates on CNBC by NBC Weather Plus now, but prior to March 27, 2006, weather updates were provided by AccuWeather.
- Prior to December 2005, a stack in the corner of the screen displayed index and commodity prices, however this information has now been moved to a bar along the top of the screen.
- The CNBC Global Headquarters studio was made by PDG Ltd of Beeston, Nottinghamshire and by the FX Group of Ocoee, Florida.
- The music used from October 2003 to December 2005 was produced by 615 Music of Nashville, Tennessee. This theme continues as of November 2006 to be used by CNBC Europe and CNBC Asia. Willie Wilcox composed the themes for The Big Idea, Mad Money, Conversations with Michael Eisner and currently Fast Money. [11]
- CNBC's main voice-over announcer is Jim Birdsall, who has also worked for NFL Films.
- On December 19, 2005, CNBC unveiled a new on-air look, replacing that which had been used since October 2003. This included a new look for all the graphics, new logos for all business day programs, and the aforementioned move of the information formerly contained in the stack to the top of the screen. The ticker now shows full company names (and full commodity names used in the Commodity Summary, which runs at the 1s of each hour) instead of just ticker symbols.
- On June 12, 2006, CNBC brought back its "First in Business Worldwide" tagline, which was originally used in the late 1990s; this phrase replaced "The World Leader in Business News", which had been in-place for at least several months.
- On September 6, 2006, CNBC unveiled a revamped bug, which now has a similar resemblance to that of CNBC Europe. On the same day, the network launched a slightly modified ticker with a narrower font (to allow more quotes to stream by within a period of time). See the photo in the "CNBC Graphics" section below for more.
- On September 18, 2006, CNBC's Worldwide Exchange program unveiled the "FTSE CNBC Global 300 Index". As the name suggests, it is an index of 300 global corporations, through 18 subsectors in conjunction with London's FTSE. It is supposed to aggregate the major stock market movements from the "open in Asia to the close in the US." It is updated every 15 seconds.
- On November 15, 2006, CNBC's logo bug was changed to color revealing the rainbow's peacock's normal NBC colors. The ticker was also revamped that day.
- On November 28, 2006, the new smaller CNBC color bug (similar to the one used in the revamped ticker) began to show up on CNBC's non-business related primetime programming (where the ticker is not shown, except Mad Money and Fast Money), replacing the much bigger shadow gray bug.
- On December 19, 2006, exactly one year after its relaunch, CNBC revamped its on-air graphics package, replacing the graphics (except on the market charts) that were previously used from 12/19/2005-12/18/2006.
- In January, 2007, CNBC launched it's new bureau which is located at KNTV NBC 11 studios in San Jose, CA called "CNBC Silicon Valley". Most business & tech reporters correspond at CNBC Silicon Valley. Occasionally KNTV reporters Scott Budman and Scott McGrew will also correspond from CNBC.
- On February 27, 2007, when the Dow Jones Industrial Average had its 7th largest loss ever, CNBC stayed on the story. [12] Also, CNBC's news ticker at the bottom of screen returned during a re-airing of Deal or No Deal showing updates of the loss as well as the Nasdaq's biggest loss since September 17, 2001. It also reminded viewers to go to CNBC.com to get updates on the markets in Asia provided by CNBC Asia. The 10 p.m. and 1 a.m. ET airings of The Big Idea with Donny Deutsch were pre-empted to make way for re-airings of On The Money and Fast Money, respectively. Both shows covered the 400-point loss of the DJIA. The network recorded its best ratings week since the market crash after 9/11, with Kudlow & Co., Mad Money, and Fast Money recording their best ratings ever (in the coveted 25-54 demographic). [13]
- On March 1, 2007, CNBC's Squawk on the Street and Closing Bell both started using the new style countdown clock (shown in minutes:seconds:tenths-of-a-second format) on the graphics' lower-third of the screen. The countdown clock is used for the "Opening Bell Countdown" segment on Squawk on the Street, and for the "Closing Countdown" segment on Closing Bell.
- On March 19, 2007, Squawk Box was knocked off the air for 18 minutes due to "overwhelming technical issues". After an extended commercial break at 7:43 a.m ET, the network simulcast MSNBC's Imus in the Morning before returning to the air at 8 a.m ET. Host Joe Kernen noted that in the 11 years of him doing the show, "this has never ever happened".
[edit] Logos
 CNBC logo from 1989 to 1992. |
 Planned CNBC/FNN logo from 1991 before the name was dropped. |
 CNBC logo from 1992 to 1995. |
 CNBC logo from 1995 to 1996. |
 The current CNBC peacock logo from 1996 to present. |
[edit] CNBC international channels
CNBC has operated international versions of its channel since 1995, when CNBC Asia originally launched. CNBC Europe followed in 1996. On December 9, 1997, Dow Jones & Company and NBC announced the merger of their international business news channels. This resulted in a merger of CNBC Europe with Dow Jones' European Business News, and likewise of CNBC Asia with Asia Business News. From then (until January 2006) the international CNBC services carried the tagline "A Service of NBC (Universal) and Dow Jones" (or depending on other local partners, a variation of this tagline). Correspondents from Dow Jones Newswires contribute to the channels. CNBC Europe is headquartered in London, and CNBC Asia is headquartered in Singapore.
Besides CNBC Europe and CNBC Asia, the network also operates a number of local business news channels in association with other companies. These channels include Class CNBC in Italy, CNBC-e in Turkey, CNBC Arabiya in the UAE, Nikkei CNBC in Japan, CNBC-TV18 and CNBC Awaaz in India, and CNBC Pakistan in Pakistan. In Australia, CNBC is called CNBC Australia and carried programs from both the Asian, European and American networks.
CNBC Europe and CNBC Asia are rebranded in some parts of the world with tickers containing local financial information. This includes CNBC Nordic, CNBC Singapore, CNBC Hong Kong and CNBC Australia.
In North America, CNBC World airs business programming from CNBC Europe and CNBC Asia, as well as weekly magazine programs provided by CNBC-TV18 and the United Nations.
In Central America and the Caribbean, CNBC Latin America retransmits live programs from CNBC and CNBC World.
In Canada, CNBC can be seen with most of the programming identical to the US counterpart. However, due to Canadian programming rights, the 9pm slot which shows television programming such as the Olympic Games, Deal Or No Deal, The Apprentice, 1 vs. 100 and Heads Up Poker are replaced by CNBC World programming. However, documentaries are shown in Canada. This had the making of a major problem, as a highlight episode of The Apprentice 5 that aired April 23, 2006, was assumed to not be available anywhere for Canadians due to these blackouts. While the first airing at 9:00pm ET was blacked out, the second airing at 12:00am ET was accidentally shown. Blackouts on episodes that originally air on NBC and Global are likely to continue. However, occasionally, the television shows are shown and are not blacked out. This could be due to a mistake in not blacking out the programming.
On 31 December 2005, the sale by Dow Jones of its interests in the international CNBC channels took effect. From 1 January 2006, the "A Service of NBC Universal and Dow Jones" tagline was removed from the international CNBC channels, in line with this.
CNBC is also planning another international spinoff, CNBC Africa. With roughly $600 million spent on advertising in South Africa alone, the network sees great potential in grabbing a potential share of that pot. Initially, CNBC Africa will have bureaus in Botswana, Tanzania, Kenya, Nigeria and South Africa and will produce 9 hours local programming per business day. The network will be launched June 2007. [14]
[edit] CNBC Graphics
CNBC is well known today for its flashy and somewhat "over-the-top" graphics package, complete with accompying animations and animation-sounds. Previous graphics packages put together by the network since the early 90's have gradually increased the "wow" factor -- likely in order to catch a casual viewer's eye, as cable news competition has increased dramatically since the late 80's (when the network was launched).
[edit] Screenshots
 Date: April 17th, 1989 to December 31st, 1994 |
 Date: January 1st, 1995 to December 31st, 1997 |
 Date: January 1st, 1998 to September 29th, 2000 |
 Date: October 2nd, 2000 to February 1st, 2002 |
 Date: February 4th, 2002 to October 10th, 2003 |
 Date: October 13th, 2003 to December 16th, 2005 |
 Date: December 19th, 2005 - December 18th, 2006 |
 Date: December 19th, 2006 - |
[edit] How to read the screen
The top band, which stays on-screen during the business day (4am ET to 6pm ET), will give viewers a real-time snapshot of the general stock market (Dow Jones, Nasdaq S&P 500 indices and Russell 2000 index, along with the DJ Utilities, DJ Transports and NYSE indices), international markets and futures (between 4am ET and 9:30am ET only), currencies, bond prices/yields and commodities. This data stays on for 5-7 seconds, before refreshing to the new set of data.
The bottom two lines, called the ticker, gives viewers real-time NYSE quotes (on the top band) and Nasdaq/AMEX quotes (bottom band) throughout the trading day (ticker symbols are 1, 2, or 3 letters long for the NYSE stocks; Nasdaq uses 4- and 5-letter symbols; 3-letter ticker symbols are used at the AMEX). A commodity summary is shown on the top band during market hours (every 10 minutes at 0:01, 0:11, 0:21, 0:31, 0:41, 0:51 past the hour), along with a market summary (which is shown every 20 minutes at 0:01, 0:21, 0:41 past the hour). A Nasdaq/AMEX market summary is shown on the bottom band every 20 minutes at 0:06, 0:26, 0:46 past the hour. The ticker now also provides the size of each trade (the volume, or number of shares traded), a feature which was reinstated on July 12, 2006 after it was dumped during the re-launch in December 2005.
Before and after-market hours (8:00am ET - 9:30am ET and 4:00pm ET - 6:30pm ET respectively), the ticker will give viewers extended hours trading quotes (after-hours quotes are symbolized with gold text). Between the hours of 5:00am ET - 8:00am ET and 6:30pm ET - 8:00pm ET, viewers are shown an alphabetical recap of the closing prices of S&P 500 stocks on the top band, while latest news headlines as well as weather projections for selected cities are displayed on the bottom band.
Above the ticker, the left-hand side graphic will give you the ident for the specific program that is currently on-air (i.e. "MORNING CALL"). The middle block gives viewers either a caption of the topic being discussed (i.e. "MIKE HUCKMAN") or information about the correspondent on the screen. Additionally, the left is also replaced by logos indicating general subjects (i.e. "BEHIND THE WHEEL",) or the network's "Breaking News" or "CNBC Alert" logo when required.
For more details on CNBC's ticker, please see Wikipedia's article CNBC Ticker.
[edit] CNBC.com
CNBC.com is the companion website to the financial network. It was launched in 1996 with minimal content, other than show program grids, host biographies and basic network images. The site gradually progressed alongside internet technology, giving investors more useful information such as stock quotes, news bulletins, in-depth programming information and a whole host of other data.
In August 2001, CNBC.com merged with MSN's Moneycentral.com, creating "CNBC on MSN". This new partnership allowed the two parties to meet two objectives: 1) provide richer content to visitors, with expanded news offerings, a wider array of stock tools (including interactive charting, free online portfolio managers) plus more in-depth market coverage and 2) more effectively compete with other finance related websites, such as Marketwatch.com and Yahoo! Finance.
CNBC.com was relaunched on December 4, 2006. The website provides new online tools for investors, better integration of the website with daytime programming. Some of the new features include:
- exclusive online interviews (the first being with Chicago Fed President Michael Moskow)
- "Market in a Minute" updates from CNBC personalities every 30 minutes (during the trading day: 9:30 am to 4:30 pm ET)
- a streaming desktop ticker, real-time data and the network's "tick-by-tick" charts (for major indices)
- themed blogs by various correspondents (i.e. "Tech Check" with tech reporter Jim Goldman)
- unedited, full-length interviews from CNBC specials or other on-air interviews
- free video of recent on-air segments, interviews, features etc.
- an exclusive "CNBC.com" set built at CNBC's U.S. headquarters where the "Market in a Minute" segments (among other things) will be taped from
- blogging from on-air personalities about the various "goings-on" within the network (coming soon)
- an original show to air exclusively online with Maria Bartiromo, Bill Griffeth and Joe Kernen (coming soon) [15]
Content on the new website will be edited 24 hours a day during the business week. CNBC U.S. will update/edit the content from 6 a.m to 7 p.m ET, CNBC Asia will then take over from 7 p.m to 2 a.m, and CNBC Europe will handle the overnight hours from 2 a.m to 6 a.m.
CNBC.com has also officially disbanded its relationship with MSN in mid-November 2006.
[edit] CNBCplus
"CNBCplus" is a new feature which was launched alongside the revamped CNBC.com website. This subscription based service (similar to CNN Pipeline) allows users to have 24-hour, commercial-free access to 3 individual CNBC feeds -- CNBC U.S., CNBC Europe and CNBC Asia -- along with access to over 15,000 clips in the archive. It will also be updated with hundreds of video clips available on-demand and a search feature allowing you to search CNBC video archives. U.S. based customers of CNBCplus will not receive the CNBC U.S. feed due to various restrictions (they will still get the CNBC Europe and CNBC Asia feeds, along with all of the video clips). The service is not available for any other operating system besides Microsoft Windows.
The CNBC video player is currently offering a free seven-day trial for people who register. After that, individuals who register will be required to pay a monthly fee to keep the service. The introductory offer is $9.95 per month, although it will eventually go up to $14.95/month [16]
The site is available at: https://cnbcplus.cnbc.com
[edit] "Million Dollar Portfolio Challenge"
CNBC.com's Million Dollar Portfolio Challenge contest, which began on March 5, 2007, is going on now through May 25, 2007. For more information about CNBC.com's Million Dollar Portfolio Challenge, and for official contest rules, please visit milliondollar.cnbc.com. [17]. CNBC hosted a similar contest the previous year, called the Squawk Box Fantasy Portfolio Challenge.
[edit] Contest "Multiple Accounts" Controversy
The Million Dollar Portfolio Challenge, which is being sponsored by OptionsXpress,[18] has become embroiled in controversy after just its first week when it was revealed that one participant, Nancy Beaumont from California, registered 800 separate portfolios in the contest, exponentially increasing her probability of winning the $1,000,000 prize, and leading to her occupying no fewer than nine places in the Top 25 Leader Board. [19][20][21][22]
The express terms of the Rules, however, provide in material part:
Description of the Contest: The contest is a stock trading game that provides Participants with a fictional trading account, One Million (1,000,000) fictional dollars ("CNBC Bucks") and the fictional ability to trade individual stocks on the NYSE, NASDAQ and/or AMEX exchanges.
The Rules further state:
Trading: Each participant begins the Contest with One Million (1,000,000) CNBC Bucks to create a fictional portfolio of the NYSE, NASDAQ and/or AMEX-traded stocks. ... Each participant can make a maximum of fifty (50) trades per Day, based on the time the trade is entered by the Participant.
As a result of Nancy Beaumont's registration of 800 accounts, therefore, she has $800,000,000 CNBC Bucks available to her in the contest, spread over 800 separate accounts, and the ability to make a total of 40,000 trades per day. Other participants who registered one account per the express terms of the Rules, by comparison, have $1,000,000 CNBC Bucks available to them and can only make 50 trades per day. As a result, the probability of Nancy Beaumont winning the contest is dramatically skewed in her favor.
The sponsor of the contest, OptionsXpress, has yet to make a statement regarding the controversy.
[edit] List of CNBC channels
- CNBC US (the US version is also shown in Canada)
- CNBC Europe
- Class CNBC - Italy
- CNBC-e - Turkey
- CNBC Arabiya - Arab world
- CNBC Nordic - Scandinavia
- CNBC Asia
- CNBC Pakistan - Pakistan
- Nikkei CNBC - Japan
- CNBC-TV18 - India (English)
- CNBC Awaaz - India (Hindi)
- CNBC Australia
- CNBC Hong Kong
- CNBC Singapore
- CNBC Latin America
- CNBC World
- CNBC Africa - to be launched May 2007
[edit] See also
[edit] External links
- CNBC US
- NBC Cable Networks - NBCCableinfo.com - CNBC
- CNBC page at MSNBC.com
- CNBC Video at MSN Money
- CNBC weekly U.S. TV Schedule
- CNBC Anchors and Reporters (scroll down page for list)
- Squawk Blog, done by anchors of Squawk Box
- The Morning Blog, done by anchors of Morning Call
- Photos of the New Jersey CNBC facility
- CNBC: Viewer Discretion Advised (Chicago Reader article by Anthony DeBartolo)[25]
- CNBC Europe
- CNBC Pakistan
- CNBC-e Turkey
- CNBC Arabiya
- CNBC Asia
- CNBC-TV18 (India)
- Class CNBC
- Nikkei CNBC
| CNBC US Weekdays edit |
Worldwide Exchange • Squawk Box • Squawk on the Street • Morning Call • Power Lunch • Street Signs • Closing Bell • Kudlow & Company • Mad Money • On the Money • Fast Money |
Categories: 24-hour television news channels | Business | CNBC | CNBC global channels | General Electric subsidiaries | XM Satellite Radio channels | Sirius Satellite Radio channels | Digital only radio stations | Stock market | Television channels and stations established in 1989 | NBC Universal networks | DuPont-Columbia Award recipients
