Why business television exists
Posted by Dalton48 on 13 Mar 2009 at 07:44 am | Tagged as: Business
The Globe’s John Doyle sums up one of the problems that plagues business television in his enjoyably tart column from Thursday:
All-business television and business news segments had to create their own iconography, mainly because business news is essentially boring and difficult to illustrate. The natural, real-world imagery of business TV is footage of some machine stamping loonies or churning out $20 bills. The only alternative is a tracking shot of shirt-sleeved traders talking on the phone and staring at computer screens.
Now, I’ve spent many hours trying to find interesting footage to accompany stories on accounting malfeasance and drops in GDP, so I know exactly what he’s talking about. However, I’d question his assertion that business news is boring. In defence of business newscasters everywhere, some of us are fascinated by the market, which overreacts as much as it underreacts to events and whose moods are buffeted by geopolitical activity as much as by actual corporate earnings. Watching the ups and downs of stock indexes in real time can be as weirdly fascinating as watching an ant — or a toddler — make its incomprehensibly chaotic way on the sidewalk. That’s why people watch business television — and, importantly, why there must always be a market update every fifteen minutes.
I do take his point about the problems of illustrating business news, though. If the New York markets tank, we can usually find an image of traders looking grim, furious or despairing, but the TSX is harder. We overuse a file photo of a Bay St. street sign with a Do Not Walk sign glowing blow it – desperate, but what can you do?
I will admit to a strong preference for a top business story that has to do with something that’s visually interesting. Insurance no, gas wells yes.
The default setting, unfortunately, is White Guy in Suit, lectern optional.
That’s kind of where I think TV is the better medium, though… you can show the crazy up and down of the market or a stock price in real time, and it’s a more interesting graphic than WGIS.
The TSX is particularly hard to depict because they eliminated floor traders. Clearly, they were not thinking ahead to all-day business television when the decision was made.
Ms. Jones lyrics seem oddly appropriate (to me anyway) now:
Taint no big thing,
To wait for the bell to ring,
Taint no big thing,
The toll of the bell,
Aggravated – spare for days,
Stroll downtown the red light place,
Jump up bubble up – whats in store,
Love is the drug and I need to score,