Squawk on the Street

CNBC on the Future of Network Newsgathering: 'That Ship has Sailed'
By Jeff Poor | April 8, 2008 | 12:32 PM EDT

It's no longer profitable for networks to have their own news organizations, according to CNBC's David Faber.

In the wake of the news that CBS is in negotiations to outsource its news division to CNN, Faber explained on CNBC's April 8 "Squawk on the Street" CBS's news division is a victim of an evolving business.

"The news that CBS is once again considering a deal under which it would outsource some of its newsgathering operations to CNN - certain to get those critics out there who say, ‘Oh, this is the end of news as we know it on television,'" Faber said.

"Well, if you haven't noticed, news on television ended a long time ago, other than '60 Minutes,' which is by the way a CBS program. I challenge you to come up with actual newsgathering that is taking place on the networks," he said. "That ship has sailed."

More Cramer Outlandishness - 'The American Public Don’t Know Jack'
By Jeff Poor | March 24, 2008 | 3:28 PM EDT

Do you think the federal government guaranteeing $29 billion in a loans for JP Morgan Chase to take over Bear Stearns is a good idea?

It really doesn't matter what you think, according to CNBC's Jim Cramer. Cramer defended the move by the Fed from any potential public scrutiny on CNBC's March 24 "Squawk on the Street."

"The American public don't know jack," Cramer said in response to a question from CNBC correspondent Michelle Caruso Cabrera about justifying the move to the American public. "They're just glad they're just not going to lose their job. I mean, this thing was so out of control. Everybody on Wall Street thought they were going to lose their jobs 10 days ago. We're thrilled."