Although the Morgan Stanley’s handling of the social media site’s disastrous stock offering is under scrutiny by just about every business news outlet under the sun, a Wall Street insider tells us the investment banking’s corporate communications warriors are blaming CNBC for engaging in some pre-IPO hyping of their own. CNBC senior vice president and editor in chief Nik Deogun “is under fire,” says the source. “Morgan Stanley is telling him, ‘How dare you criticize us when you guys promoted this IPO worse than anybody.’ ” The source recalls examples of CNBC’s on-air exuberance in the days leading up to the IPO, including treating Facebook CEO Mark Zuckerberg ’s entrance at the kick-off of the company’s investors road show at the Sheraton hotel in midtown as if it were “the President’s State of the Union Address” with multiple cameras and reporters. Then on May 17, the day before the actual IPO, the hosts of CNBC’s “Fast Money” appeared on camera wearing hoodies — a reference to Zuckerberg’s favorite fashion item, which came off like an homage to the baby billionaire. That same day, controversial “Mad Money” host Jim Cramer told his viewers, who tend to be mom-and-pop investors and market-playing college students, “If you can get in on the actual IPO, then I think Facebook is a no-brainer.” He added: “We all know this one’s going to pop like crazy on its first day of trading, so if you can get in on the deal, I think you should try to get your hands on as many shares as possible.”…CNBC spokesman Brian Steel said: “CNBC’s Facebook coverage has been widely acknowledged as fair, balanced and insightful.” [NYDN, related, related]
Step 1: Come up with story idea, say, about how small businesses are being hurt due to the NBA lockout.
Step 2: Reach out to Twitter followers, ask them to corroborate said story.
Step 3: Wait.
Step 4: Practice asking Kate Upton to be your Valentine. [“Will you, Kaaa” voice cracks. “Will you, Kate Upton…” No, that’s stupid. “Kate I would be most honored if you..”]
Step 5: Daydream about how you and “Katie” will tell your families you eloped.
Step 6: Marvel at your good fortune when a guy, who in real life is a bored teenager but over the internet seems like a legit businessman, emails you to say that he runs an escort service in New York, “mostly for away team players after games but some Knicks and Nets too; they are high rollers and I’m not getting the constant business I that I need to stay running.”
Step 7: Double fist pump the air and shout “Yes, D-Rove, you got this! Pulitzer 2012 baby!”
Step 8: Breathe, tell yourself to calm down and reel it in. Read more »
When you’ve made the executive decision to turn your business channel into the Facebook IPO Show, it can get difficult figuring out how to fill every second of airtime. Obviously there will be breathless coverage from every conceivable angle, a countdown clock, and segments on “the evolution of social media,” “advice for Mark Zuckerberg,” the emotions surrounding a delay in trading, venture capital’s feelings about Facebook, “what’s the deal with Facebook’s private shares,” how “Facebook makes its employees happy,” “networking Facebook’s ecosystem,” Mark Zuckerberg’s Facebook profile, and whether Facebook is “your friend or foe.” But with the tech analyst who agreed weeks in advance to have Mark Zuckerberg’s face tattooed to his ass live on-air while network anchors discussed the significance it might have on how Facebook would close on its first day of trading backed out at the eleventh hour, CNBC found itself with a gaping hole in programming. Luckily, an unnamed producer had the bright idea for this: Read more »
As some of you may have noticed over the years, Warren Buffett has carved out a pretty unique niche for himself in using analogies about whorehouses, porn shops, one-night stands, taking Viagra, fondling inanimate objects (or simply laying the ground work to do so) when discussing business. Regardless of the topic, no matter the setting, he’s prepared to go out of his way marry aberrant sex fetish with folksy business wisdom. So naturally, when asked by Andrew Ross Sorkin on Squawk Box this morning if a $22 billion acquisition by Berkshire Hathway that didn’t pan out earlier this year might happen at some point in the future, Buffett told the gang “It’s always possible. When a girl hangs up on me, I try again,” rather than “Sure,” or “Yeah, anything can happen,” or “Never say never, Andy.” At this point, the anchors could have moved on but Joe Kernen saw an opening for a little repartee and went for it, not realizing that he was dealing with a professional. Read more »
Been getting your faced ripped off lately? Can’t come up with a good idea to save your life? Why not stop what you’re doing an doing and start flipping houses? Vanilla Ice has been doing so for the last fifteen years and says it’s not only really fun but super lucrative as well. Now an expert, he stopped by CNBC today to talk shop and share a little business wisdom. Read more »
Bubba Watson On Set [CNBC]
SI Swimsuit Model Doesn’t Have To Worry About Things Getting Weird With CNBC Reporter Because He’s Known Her Since She Was 17By Bess Levin
Something you may have picked up on when watching CNBC interviews is that if an anchor or a reporter has fond feelings for his or her interviewee, he or she often finds them difficult to suppress. Joe Kernen, for example, more or less fellated David Tepper when the hedge fund manager appeared on Squawk Box a while back, telling Tepper his “entire body had chills” at the thought of having him on set (Bill Murray received the same treatment last Friday). To that end, maybe you saw Darren Rovell’s interview with Kate Upton?
On Tuesday, the CNBC reporter sat down with the Sports Illustrated‘s swimsuit edition cover model. While it’s tradition for Rovell to do so, having chatted with Irina Shayk, Brooklyn Decker, Bar Refaeli, and Marissa Miller when it was their times to shine, this year was different, because, according to Rovell, he and Kate have something special. In order to show the world what they’ve got going on, Rovell first penned an op-ed for CNBC.com noting why SI *had* to put Kate on the cover and then, later, during the live interview, got down on one knee and asked Upton to be is Valentine. Her turning him down was not even the most awkward part! Rather it was the icing on the trainwreck of awkward that included the fact that 1) Mrs. Rovell is due to give birth to their first child in a couple days and 2) that he got down on one knee, perhaps thinking in that split second between him getting into a position generally reserved for proposals and asking his question, 19 year-old Kate would shout “Yes, I’ll marry you!” and they’d run away together. While D-Rove thought all was good, he heard that some people found the exchange a bit odd and this morning sought to set the record straight on WFAN. Read more »