Fox News' new Biz News station & Social Security privatization... hm....

[complain jane]

Wow, what a coinkydink.

For starters: Fox News is creating a business news television station similar to CNBC to report on the stock market and financial news, right around the same time Bush decides it's time to force the American taxpayer to invest in stock.

I work for a company owned by General Electric. We're very close to financial information and early this year they decided that we were not allowed to own stock, other than the 401k we can invest in ourselves (in GE Common Stock of course) among a few other things (mutual funds, bonds). But no other company's stock.

They told us we had to sell whatever stock we owned (I kid you not) and if you lose money, well, tough shit. That's the price you pay for working for here, is what human resources actually had the audacity to say in a meeting.

Anyway everyone screamed and got lawyers and for some of us, this new rule was rolled back; we can now own our own stock but can only buy or sell anything during a window that GE will set during the year, and every transaction has to be approved by GE.

Keep in mind, that this is because my specific GE-owned company has certain employees who really are very close to financial information and in the interest of preventing insider trading, they did this. We deal with business news, and Fox News is creating their own Business News television station, which sucks, because most of the people who tune in to our business news are rich conservative Republicans who will gleefully ditch us for a Fox station.

(Their version of "fair and balanced" in the regular news is bad enough, imagine when Fox's "fair and balanced" "business news" stock market and financial reporting starts running liberal-owned businesses into oblivion?)

This no-stock-owning debacle has been cleared up for the most part, but the point is that my employer did this to prevent Fox News from having any ammunition against us... looking for impropriety anywhere they can to take down the competition. And they do try it, believe me they do. Not like anyone here needs convincing I'm sure.

[complain jane]

1. the news of Fox's business news channel has so far only been

given to me by my employer. I thought that it would help if I had a link to post here about it but all I could find at the moment was a blurb at this site: http://www.mediabistro.com/tvnewser/archive/2004_11_17_archive.asp but if I find something better I'll post it.

[complain jane]

2. Found one.

http://story.news.yahoo.com/news?tmpl=story2&u=/fool/20041124/bs_fool_fool/1101320940

[bryant69]

3. That will be interesting

Of course they will paint the picture that if you put your money in the stock market it's easy money.

Bryant
Check it out --> http://politicalcomment.blogspot.com

[Killarney]

4. tvnewser has been discussing the new fox financial channel

cnnfn is gone and foxfn will take it's place.

[complain jane]

5. Murdoch's gonna cash in on this shit big time