Tuesday, September 12, 2006

Yahoo Adds Seeking Alpha; CNBC doth Protest Too Much

Update: As usual, I see Barry Ritholtz over at the Big Picture beat me to the punch. Interesting to see a number of very smart folks with the same reaction to the interview noted below.

This morning I looked up and noticed Yahoo Finance Manager, Peggy White, getting grilled by TV tough guys Joe Kernan and Charles Gasparino. Ms. White was announcing the addition of content from Seeking Alpha to the news feed at Yahoo Finance.

Beginning today, consumers researching specific stocks on Yahoo! Finance will find Seeking Alpha stock market content on the stock quote pages of the web site. The agreement brings users access to a new breed of financial analysis, opinion and commentary from money managers, finance professionals and industry experts.

"Financial blogs play an increasingly important role in covering today's global investment markets, and the addition of Seeking Alpha content to Yahoo! Finance brings a new collection of viewpoints to millions of investors," said David Jackson, chief executive officer of Seeking Alpha. "Working with Yahoo! Finance allows us to provide a new audience with a wide range of well-argued opinions and analysis that complements the financial news already provided by traditional media outlets."

In response to a series of rude questions, Ms. White explained a team of editors would review the content for accuracy.

Mr. Kernan laughed at that, due to his grave concerns that bloggers, which he compared to the Wild Wild West of Yahoo's bulletin boards, would be able to just throw out anything and everything.

Charlie Gasparino taunted: "will the editing process be better than the Wall Street Journal?!"

This sort of paternal instinct, especially coming from unindicted co-conspirator CNBC, is a little hard to swallow by anyone with a memory of the $Trillions vaporized after the Y2K bubble popped.

And don't get me wrong, I appreciate Mr. Kernan's vigilance over the rest of the country- nay, the world!- although I don't remember a trace of CNBC editorial concern until well after stock market implosion damage was done.

All this as that Pulitzer Prize winning piece seriously examining the behavior of CNBC "Bubbleheads" still collects dust on the shelves over at the Wall Street Journal (What? Oh yeah. I forgot... they're partners).

Regardless, as Peggy White chuckled out a "Thank you for having me", she must have been thinking of CNBC's abysmal ratings compared to the "viewership" over at her corner of the media jungle (as in, "Well that interview sucked... but then again, nobody's watching.").

[Note: Using Hewlett-Packard (symbol HPQ), since they're in the news today, here's an example of the integration of Seeking Alpha into the news thread found on Yahoo Finance. Nice. The more diversity the better.]

OK, enough about that.

Update: I've submitted this piece to the editors over at CNBC and The Wall Street Journal... but, so far, no response.

Let me wrap this up with a massively bold and forward looking prediction: Joe Kernan will have his spurs on when CNBC discovers the Wild Wild West that is the internet...

...because NBC is testing a new website for CNBC even as I type.

NBC is testing a new website for CNBC. The site will charge subscriptions for access to all interviews and features run on the cable channel, as well as real-time charts and a search engine.

The site, which will take advantage of the fact CNBC’s content is digital and easily transferable to the internet, will launch in the US at the end of the year and be rolled out internationally.
So they've apparently gotten rid of all those VHS machines at CNBC HQ, and now- Hey, this is cool!- can take advantage of CNBC's digital content. Very clever they.


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