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TV Business News Should Be Top Stories
The movie Confessions of a Shopaholic, starring Isla Fisher as Becky and Hugh Dancy as Luke Brandon her mentor, is not only about Becky's addiction to shopping.
It is also about the bridge between consumers and decision-makers in the boardroom. Luke encourages Becky to write as a consumer, and most of her articles show that most of the time the people who control fashion, do not know what shopaholics like Becky want.
When you enter an Apple store to browse or buy some aluminium, you’ll see the store display for headphones called Beats by Dr. Dre.
This was a business deal between Apple and Beats Electronics which translated into urban culture: kids on their iPhones and Beats by Dr. Dre headphones under the baseball caps.
Apple has finally confirmed its acquisition of Beats Electronics for $3 billion ($2.6 billion in cash and $400 million in stock that will vest over time). Co-founders Jimmy Iovine and Dr Dre will join Apple as part of the deal.
Should this deal be in the general seven p.m. T.V. news or the business report that comes after it?
The earth is round, so is the sun and the moon but unfortunately, we tend to divide knowledge and television news in particular, into boxes: general headline news, weather, entertainment, sports, health and business.
That is why I was under the impression that I could not understand business news because I find it difficult to follow stocks and bonds.
Trading Places, the 1983 movie starring Dan Aykroyd and Eddie Murphy is regarded as a classic in stocks and bonds movies.
One of the scenes in this video tried to explain why anybody in their right mind would invest in pork bellies.
Consumers Drive Business News
Separating business news and general news goes against the word ‘business’, which means busy. People are busy doing something. They are in busy-ness. This is not a typo. They are in business.
You do not have to make money to be busy. Women are the busiest individuals on planet earth, raising children, but their contribution does not trade on Wall Street in New York or Bay Street in Toronto.
That is why i was reluctant to read business news because I associated featured news items with corporations, governments, the tax man and other rich individuals.
What I overlooked is that I am the target of all business. I am the prey. They all want my dollars and pounds. Movies always talk about hostile take-overs, which is a redundant way of putting it because a take-over is hostile in its nature, since somebody is a loser in any business merger.
Maybe television news directors and business blogs are not to blame. Maybe they realise that consumers do not care who owns the machines that brew the expresso and latte, as long as they can grab that coffee cup every morning on their way to work.
Ericsson, the Swedish company which used to manufacture mobile phones, before smartphones became a loser in 2012 in its deal with Sony.
Sony, a Japanese company famous for cameras, television sets and other household appliances formed a joint venture with Ericsson in October 2001, which resulted in a company called Sony Ericsson.
It doesn’t exist anymore because Sony bought out Ericsson in February 2012 and the new company is called Sony Mobile Communications, period.
Life Stories are Business Decisions
Business news is knowledge and it should be shared. The problem with the media is that it is governed by numbers and labels: age, gender, race, and how much money people make at the end of the month or every two weeks.
This classification is responsible for the assumption that a man who drives a freight train is not interested in business news, forgetting that he is already a businessman because he doesn’t have a mortgage. The home he bought for $32,000 in 1976 is paid up and is now worth five million Canadian dollars.
Such a man might only feature as a news item when developers want that piece of land and are willing to pay $10 million for it. The story should not be about a poor guy being forced out of his home by capitalists.
It should be a business story about a clever investor who held onto his land longer so that he could drive a hard bargain.
Your home, whether it is paid up or still has a mortgage is an asset, like the example of the freight train driver.
Dividing news into general and business stories leads to dis-information, mis-information and plain knowledge fraud because it removes the importance of land in business decisions.
A good example would be what happened in Canada in 2014, when Sobeys, a grocery chain acquired Safeway, an old hand in the grocery business.
Most of the news items stressed job losses, which are common in most mergers. One business reporter pointed out a very crucial point, real estate.
The CBC reporter said Sobeys acquired prime real estate when it bought Safeway. That should have been the lead in all news casts because if you live in Canada, you know that Safeway stores sit on land, not water, and land is money.
When you sell your house, you are selling land. I can demolish it in one day and build a casino or office buildings.
Yes, Safeway and Sobeys are places where we buy lettuce, sardines, almonds, fish and chicken pieces, but they are also property developers, and consumers should know that.
Along with 213 Safeway grocery stores — more than 60 per cent of which are in Calgary, Vancouver, Edmonton and Winnipeg — Sobeys will also acquire:
- 199 in-store pharmacies.
- 62 gas stations.
- 10 liquor stores.
- 4 primary distribution centres and a related wholesale business.
- 12 manufacturing facilities.
Sobeys will get $1.8 billion worth of real estate in the deal. Source: CBC News.
Real estate, or property should not be hidden from ordinary people. Land is the economy. It drives the economy. Land is even the reason for war, for invading other countries.