Keep the Tap Open at Happy Hour

According to a handful of reports, Happy Hour is over at FOX Business Network.

Happy Hour, a program set in the Bulls & Bears Pub in the Waldorf Astoria in Manhattan, covers market related business and political topics of the day, with hosts Eric Bolling, Rebecca Diamond and Cody Willard. It allows interaction between bar patrons and the hosts and guests. Although drafts are a bit stout at $8 a piece, it was fun to "be a part of the show" while having a few tall cool ones. Last time I was there I tried to turn Imogen Lloyd Webber into a conservative but failed miserably.

This decision is one of many changes that has been taking place at FBN, and I view this particular move a major mistake. Certainly, I am no television executive and I am sure they could not care what I think. But this was a quality program that had the unfortunate draw of going up against Glenn Beck on FOX News Channel, where Beck has been rewriting the record book for ratings. I watch Beck at 5PMEST, but usually caught the replay of Happy Hour. I think the show would fare much better if they moved it 6PM.

FBN has some outstanding talent on hand and I hope they have some positive plans for the future. So far I am not real keen on what has been happening. Certainly, the recent departure of the talented Alexis Glick, who is left of my taste, is a major loss. I hear Judge Andrew Napolitano is getting a weekend show, and that is good news as he is very strong. Charles Payne is a very good market analyst and I would like to see him get a show. FBN also apparently canceled the Saturday show with Dagan McDowell and Tracey Byrnes, which I think is another mistake. Eric Bolling is very good and I do like Cody Willard and his opinions as well. David Asman is top notch, and his program America's Nightly Scoreboard is great. Liz Claman and Stuart Varney are strong centerpieces for Neil Cavuto to work with.

I hope the future is bright for FBN, but I sure do wish they would keep the beers flowing during "Happy Hour"

CNBC's Santelli Has Had Enough

While much of America drinks their morning coffee while keeping an eye on ABC's Good Morning America or The Today Show on NBC, as an investor I am listening to Squawk Box on CNBC while keeping an eye on the lovely Alexis Glick on FOX Business Money For Breakfast.

This morning, CNBC anchors Becky Quick, Carl Quintinilla and Joe Kernen were joined by billionaire investor Wilbur Ross of WL Ross & Co. and Jason Roney of Sharmac Capital. Joining the discussion from his daily perch at the Chicago Board of Trade was CNBC's Rick Santelli. The group was discussing the governments plan to save the economy and things quickly got out of hand, as Santelli blasted the Obama Administration's mortgage plan.

Kernen, a big fan of The Gipper, gives Santelli the rope to firebomb Obama. This is just great!



America is at a crossroads, and it is imperative that you take a page from Santelli's book and make sure your voice is heard. The ship is sinking, but most are just drinking up listening to the sounds of the band. Here is an avenue where you can join me and make your voice heard!

God Bless America, and thanks to Rick Santelli for speaking out!

Bottom Fishing

The Orlando Regional Realtor Association, of which I am a member, reports existing home sales in greater Orlando rose for the second consecutive month in October, representing the first time in over two years we have had this occurrence. Could this be signifying a turn in the local housing market?

Certainly, the amount of sales includes distressed properties, either those in pre-foreclosure, already foreclosed upon or short sales. But burning off the inventory is key to any market recovery, so as long as the sales out pace the inventory growth, progress is being made. The Condo market, included in these figures, remains a disaster, signaling single family homes may be faring better than the overall figures show.

Affordability is quite attractive for would be buyers as interest rates remain historically low and prices of homes have fallen to levels not dreamed about three years ago. Unfortunately, credit remains a significant issue, even with the actions of The FED and the federal government.

FOX Business Network's Alexis Glick discusses the housing market with Spencer Rascoff of Zillow.com. Take a listen.

Credit Required

As Congress works to try to put forth an emergency Bill to unlock the credit markets, the centerpieces of concern remain businesses access to credit and the health of the consumer, in particular, the ability of the consumer to have access to credit.

Principal in any economic rebound is the stabilization and return to normal market conditions of the residential real estate market, which translates into consumer net worth. The consumer will need bargaining power and lines of credit to work with to help combat the downward pressure in the marketplace, and obviously the current credit issues have those outlets dramatically weakened if not closed.

Due to incredible mismanagement, improper regression analysis or whatever chisanbop mathematical calculation run amuck, the banks inability to estimate the damage on their balance sheets has led them to proceed to squeeze the consumers by raising credit card rates, denying new credit, freezing or closing previously agreed upon credit lines and tightening mortgage lending requirements.

FOX Business Alexis Glick discussed with Spencer Rascoff of Zillow.com and Chip Cummings of Northland Financial Corporation how the congressional Bill may impact housing and therefore the economy as a whole. Take a listen.

Palin A Knockout!

In what may be a shocking development to some, GOP Presidential candidate John McCain selected Alaska Governor Sarah Palin as his running mate. While much of the country may not be familiar with Palin, for those of us who are, we can certainly understand why John McCain chose this mother of five and I am thrilled by the pick.

Palin has been front and center in the energy discussion, frequently appearing on The Glen Beck Program and CNBC's Kudlow and Company. No one has stated the case publicly louder for Palin than CNBC's Larry Kudlow, a former Reagan economic advisor.

Palin is quite an impressive individual, and since energy is topic A on the political landscape these days, Palin is a home run choice. I think this decision left the Obama camp struggling for footing. You want change and a breath of fresh air? You got it!

FOX Business Babe Alexis Glick (our favorite) is just learning about Palin and discussed her with Weekly Standard Managing Editor Bill Kristol. Kristol "gets it".

Although Palin is a bit shy on the experience front, she is much more qualified than Barack Obama. Please see the following link from RedState.com for a mind boggling "Tale of the Tape" http://www.redstate.com/diaries/redstate/2008/aug/30/tale-of-the-tape-sarah-palin-vs-barack-obam/

Drill, Drill, Drill!

Home Equity Squeezed Tight

Alexis Glick (see previous post) of FOX Business interviews a few market players who discuss the issues surrounding the tightened environment of the day.

Banks horribly mismanaged their risks principally through the subprime lending mechanism. Now, while they repair their balance sheets, homeowners with credit previously extended to them are having these loans frozen or called.





In order for the economy to rebound, and don't think for one moment the residential real estate market is not principal in the recovery, the consumer will need bargaining power and lines of credit to work with. With the banks squeezing the consumers by raising credit card rates, freezing credit lines and tightening lending requirements, the consumer appears to be a deer in the headlights.

Banks mismanage risks and then pummel the consumer to help them heal. This extortionist tactic cannot be good news if you looking for a rebound in this consumer driven economy.

BAHL's Babes: Alexis Glick

After biding time at CNBC and over at the Today Show on NBC, FOX Business Channel wisely hired Alexis Glick as Vice President of Business News and Anchor of Money For Breakfast aired each weekday on FBC.

Prior to entering the television world, she was an executive director and ran floor operations at the NYSE for Morgan Stanley. She is a graduate of Columbia University, a mother of three sons, a real estate investor owning several properties and a former basketball star at the high school level or so I read. This is most impressive!

Regrettably, she does seem to be onboard the Obama express, and given her level of education and accomplishment, that is puzzling.

Anyhow, I may be listening to Kernen and gang at CNBC in the morning, but I am watching Money For Breakfast with Alexis Glick.