Tuesday, January 22, 2008

STOCK MARKET UPHEAVAL!

Stock markets around the world are reeling as the US federal reserve cuts interest rates!
All the international stations have been leading with the stock market upheaval as breaking news, and the global economic turmoil is supposed to top the agenda at the world economic forum in Davos, Switzerland.
But what do the local stations lead with??
TV6 leads with a decomposing body found in Tobago....their business lead is TSTT declaring $100M profit.
CNC 3 led with Ramesh Lawrence Maharaj's statement from last night (same one from Rosemarie Sant's story).
C News is using the markets story as a VO in their international segment.
So clearly all these stations were searching for news based on their questionable lead stories, but the biggest news of the day was right under their noses!
STEUPS!

So none of your assignment editors have been watching the international news? And clearly none of your Heads of departments as well!
So of course no one decided to send a cameraman and reporter to the Stock Exchange to get a feel of whether the turmoil is affecting local stocks immediately, or what will be the long term effect.
No one picked up a phone and called a financial analyst to get a sense of how this will affect the man in the street???!!!

All the international stations were on the ball.
At 6am US time, MSNBC was talking about the markets, BBC had breaking news at 9am local time, by 10.30 local time Bloomberg had a comment from the White House that it's a slow down not a recession.
At 11am, TV6 took a feed from CNN with their lead being the upheaval in the markets, and CNMG went to a calypso show.
CNC 3 led their 11am update with Stephen Cadiz, but they did mention that the local Central Bank Governor is to disclose the results of a financial literacy survey. Not a word about the markets.
At 11.30am, CNN's live coverage was under the heading "Market Meltdown". 'Nikkei hits 28-month low', 'Tokyo stocks suffer worst one day loss since 9/11'.
At midday, CNN went live to their reporter in Switzerland to get a feel of how the people who matter are responding to the upheaval.