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CNBC

Bogus $72 Million High School Student Was Ready to go on CNBC

Did you hear the one about the New York City high school student who made $72 million trading stocks during his lunch hour?

Don’t believe it.

Unfortunately, a New York magazine reporter did, and then she wrote about it. Incidentally, that reporter, Jessica Pressler, was just hired by Bloomberg.

But back to the high school student, Mohammed Islam, who fessed up to the New York Observer last night. Just hours earlier, Islam and his friend, Damir Tulemaganbetov, were at CNBC prepared to do an interview about their multi-million dollar stock trading prowess, when the teens decided it was time to come clean. Tulemaganbetov tells the Observer,

We were at CNBC. That’s why we’re dressed up. But we were there and literally in the building stressing out. We had 20 minutes. Then we three times asked them could we have 20 seconds to talk? [The boys ended up cancelling the CNBC appearance.]

CNBC was among the leading skeptics. “In a CNBC interview at midday Monday, Islam said the New York article was not accurate. He intimated that his trades had netted a few million dollars but dodged repeated questions.”

Islam

(Photo: 5WPR)

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Exclusive: Erin Burnett on Her Show’s Success, And Her Most Surprising Supporter

BurnettEAt CNN, most of the talk in recent months has been about layoffs, the leadership of Jeff Zucker, and, at times, Don Lemon. Shows have been canceled, high profile talent and executives have departed, and after months of turmoil some insiders admit they’re exhausted. A few even describe the mood as grim. So it’s worth mentioning that in one corner of CNN’s Columbus Circle home, where the “Erin Burnett OutFront” show team works, the mood is upbeat. “I love coming to work every day,” Burnett tells TVNewser.

Since her CNN debut three years ago, Burnett has steered clear of the chaos and quietly created something the network has in somewhat short supply–an hour of the nightly lineup–7pm–that is both stable and successful. Last week, “OutFront” had a rare one-day win in the demo over Fox News Channel’s “On the Record” with Greta Van Susteren. Year-to-date, “OutFront” has taken second place from MSNBC’s “Hardball” with Chris Matthews in the demo, and in November, the show boasted a +102% increase in the demo versus 2013, while “Hardball” fell -42%.

Burnett tells TVNewser “OutFront” has matured into a show she enjoys, and that makes the bosses happy. [Disclosure: I was part of the team that launched "Erin Burnett OutFront" in 2011]. “Creating a new show is not easy. You have to learn a lot of things the hard way. Over the past three years, we’ve built this show into an hour we are incredibly proud of…with a team that’s thick as thieves.”

TVNewser confirms Burnett recently signed a new contract that will keep her at CNN for several years–and further remove her from the uncertainty that surrounds other shows and stars at the network. But perhaps most surprisingly, she’s earned the respect and friendship of a very unlikely supporter–her biggest competitor.

Read more

CNBC Doesn’t Plan on Letting CNN, MSNBC Take Over Marijuana Programming

Marijuana304In the marijuana industry, you can’t just let the competition invade your turf.

CNN and MSNBC have recently joined the marijuana programming bonanza with “Pot Barons of Colorado” and “High Profits,” but the original pot network is back with a new show.

CNBC’s new program “Marijuana Country: The Cannabis Boom” premiers on Jan. 5 at 9 pm ET. Correspondent Harry Smith returns to Colorado to detail the rise of a new American industry, one year after the state legalized marijuana.

CNBC produced and repeatedly aired “Marijuana, Inc.” and “Marijuana USA” before weed programming was all the rage. It even updated “Marijuana in America” with Smith replacing original reporter Trish Regan, who is now with Bloomberg TV. As we’ve reported for years, pot documentaries have brought in big ratings for cable networks. With Colorado making the programming both easier and more interesting, this isn’t a trend that will die down anytime soon.

TheStreet Investors Calling for Jim Cramer to Quit CNBC

jim cramer Jim Cramer wears many hats: investor, cable news host, website founder. Now, some of his own investors are saying that’s one hat too many.

Cramer hosts CNBC’s “Mad Money,” and is also the founder of investment and financial news site TheStreet.com, which is under-performing.

Shares of TheStreet (TST) are down -85% from a Dec. 2007 high (and down -4% today alone). Investors are not happy. The latest criticism comes from Cannell Capital LLC, a hedge fund that owns 9% of TheStreet.com. Cannell reportedly wants one of two things: Cramer to sell the site or quit CNBC.

According to the USA Today, Cannell wrote Cramer a pointed letter, laced with personal attacks: Read more

CNBC Among Websites Hacked by Syrian Electronic Army

Seahack

CNBC.com was among the media organizations targeted by the Syrian Electronic Army on Thanksgiving Day.

The hack targeted Gigya, a platform used by hundreds of brands, including CNBC. Forbes, Microsoft, Ferrari, The Telegraph and Unicef were also targeted, CNBC reports.

“It is PR move to show they have the skills, but what they are doing is not dramatically sophisticated,” former FBI agent Ernest Hilbert told CNBC. The hack did not compromise any data, and did not affect CNBC.com in North America.

FBN’s Charlie Gasparino Calls CNBC’s Ron Insana an ‘Unctuous, Disgusting, Balding Jerk’

GasparinoOn Fox Business Network’s “Imus in the Morning” Monday, host Don Imus asked FBN’s Charlie Gasparino about his recent Twitter feud with CNBC contributor Ron Insana.

Gasparino at first pretended not to recognize the name, and Imus described Insana as “my fat little friend” from the days when Imus simulcast his radio show on MSNBC.

“He didn’t like the reporting I’ve done,” Gasparino said of Insana, who Gasparino insisted was not a journalist but “a sycophantic suck-up to Wall Street.” Of the fight on Twitter, Gasparino said Insana threw the first punch. “This guy takes a shot at me on Twitter, so I came back at him…People in glass houses shouldn’t be throwing stones. He is an unctuous, disgusting, balding jerk…you should not be attacking my street cred as a reporter.”

Watch it, after the jump: Read more

Kiran Chetry Appears in Infomercial on CNBC

Chetry InfomercialFormer Fox News and CNN anchor Kiran Chetry, who back in August made a few appearances anchoring late-night newscasts on CNN International, turned up again over the holiday weekend–this time on CNBC.

Chetry wasn’t anchoring at CNBC, but rather, appearing in an infomercial for a juicer, the “NutriBullet”.

Watch a clip, after the jump. Read more

Suze Orman Leaving CNBC

suze-orman-306Suze Orman will be moving on from CNBC after 14 years.

CNBC President Mark Hoffman notified staffers this morning, through an internal memo, that Orman will be making a big announcement in the near future. The announcement will detail plans to leave her Saturday night CNBC slot, for a weekday syndicated show.

The last new episode of “The Suze Orman Show” will air March 28. Check out the entire memo that Hoffman sent out after the jump.

> Update: Telepictures has announced it will produce “Suze Orman’s Money Wars,” with a launch date not yet announced. Release after the jump…

Read more

Melissa Francis: I Was Silenced by CNBC

FrancisGruberOn her FBN show this afternoon Melissa Francis tore into her former employer, CNBC, saying the network ‘silenced’ her when reporting on Obamacare.

The revelation comes after Fox News and Fox Business have been reporting extensively this week on Jonathan Gruber, an MIT economist and one of the architects of the Affordable Care Act, who was videotaped saying “the American voter’s too stupid” to understand the economics of Obamacare.

Francis went off on “the liberal media” who “help them cover up the truth.”

So far NBC, ABC, the Los Angeles Times, the Associated Press, and others, have been only too happy to comply. Those outlets have not even mentioned the video evidence from Jonathan Gruber. It’s shocking, but it actually doesn’t surprise me because when I was at CNBC, I pointed out to my viewers that the math of Obamacare simply didn’t work. Not the politics by the way. But just the basic math. And when I did that, I was silenced.

WATCH: Read more

Layoffs at CNBC.com

CNBC 25Layoffs have hit CNBC.com, TVNewser has learned. Around eight staffers have been cut.

At the same time, CNBC.com is adding to the roster. Eric Chemi is joining as senior editor-at-large of Data Journalism. Chemi had been at Bloomberg Media.

And John Melloy has returned to CNBC after a brief stint at StockTwits. When Melloy bolted for the social media company, CNBC considered filing a breach of contract suit against him. Apparently, that’s water under the bridge as Melloy is back in the fold focusing on content for CNBC PRO.

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