CNBC set another record last week. And it comes as the network celebrates its fifth birthday today at its Englewood Cliffs, NJ facility.
For Business Day programming (5am-7pmET), CNBC averaged 570,000 Total Viewers the week of Oct. 6. That’s up 5% from the previous high set the week before. CNBC also had its best week in 7 1/2 years in the A25-54 demo averaging 153,000 viewers.
With two weeks of October data, CNBC is having its best month ever averaging 555,000 Total Viewers; more than doubling last October’s viewership.
CNBC also announced a new series that will air across the globe on the various CNBC networks. “Collaboration Now,” a five-part series hosted by Donny Deutsch, premiered last night and continues through November 9.
CNBC has added two hours of live programming tonight. David Faber and Michelle Caruso-Cabrera will anchor, “Is Your Money Safe?,” from 9-11pET. The network will then pick up live CNBC Asia coverage at 11pmET.
This morning The New York Times issued a correction related to this story that appeared in the paper last Friday. The story focused on the rise in viewership for Fox Business Network and CNBC during the financial crisis. As pointed out by TVNewser last week, the Times story did not include a disclaimer that the newspaper has a content-sharing relationship with CNBC.
An article last Friday about an increase in television ratings for Fox Business Network and CNBC during the financial crisis omitted CNBC’s relationship to The New York Times. CNBC, which is owned by NBC Universal, has a content-sharing agreement with The Times.
CNBC also announced a schedule change, beginning tonight and continuing through October 24. From 7-9pmET, “Wall Street Crisis: Is Your Money Safe?” airs, followed by On the Money, Big Idea with Donny Deutsch, and re-airs of Mad Money and Fast Money air from 11pmET-1amET. CNBC Europe will be taken live for an hour at 1amET.
Cramer was back on the Today show this morning in an interview with Meredith Vieira, and clarified his stance.
“I’m an innate optimist, and anyone who’s watched me over 28 years of talking and trading in the market knows that I believe fundamentally that the stock market’s a good place,” he said. “But if you’re going to buy a house or put your kid through college, or need a car or health — maybe for senior citizen retirement — why should you risk over the next five years being in this stock market?”
Vieira took the opportunity to read viewer mail sent in the 24 hours after Cramer’s initial comment, which included “He did something today that was almost like yelling ‘Fire!’ in a crowded building,” and “My new name for him in Chicken Little.”
Below, an appearance by Cramer on last night’s Late Night with Conan O’Brien, that makes light of his Today show appearance, and after the jump, today’s Today clip and a bonus clip:
Click continued to see the clip from the Today show this morning and a bonus clip — Cramer on The Colbert Report last night…
CNBC’s Jim Cramer appeared this morning on NBC’s Today show, in a downer of an interview with Ann Curry. His advice to some investors — get out now.
“Whatever money you may need for the next five years, please take it out of the stock market right now, this week,” said Cramer. “I do not believe that you should risk those assets in the stock market right now.”
He continued, saying, “I thought about this all weekend. I do not want to say these things on TV.” But, he did anyway — to more than 5 million people.
Calderone also brings up Mad Money’s lengthy disclaimer, which reads in part “You should not treat any opinion expressed by Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion.”
And Clusterstock’s Henry Blodget disagrees completely with the advice and the harsh language. “If Cramer really doesn’t ‘want people to get hurt,’ he should stop telling them to try to pick stocks and time the market and just gradually invest in a globally diversified portfolio of low-cost index funds,” writes Blodget.
Along with the system, CNBC’s Charlie Gasparino says business reporters “all failed,” as well. “What we didn’t understand was that this was building up. We all bear responsibility to a certain extent,” he said.
CNBC’s Jim Cramer made an on-air apology last night for recommending Wachovia stock just two weeks ago. The recommendation followed an appearance by the bank’s CEO Robert Steel.
On Sept. 15, the day Steel appeared on the Mad Money, Wachovia stock closed at $10.71/share. Yesterday it closed at $1.84/share. Below is the clip from Sept. 15. And after the jump, Cramer’s apology: “I let you down, because I wasn’t skeptical enough.”