Last night I was watching TV as I usually do each weeknight when I flipped to channel 24 to see what the topic was on Donny Deutsch’s Big Idea. They were taking about the current unemployment rate and how remained a remote possibility that state government could very well run out of the money required to satisfy the large amount of claims coming in from people who have recently lost their jobs.
Then this guy then calls up, he was about 26 years old or so and he started to tell Donny and his guests Charlie Gasparino and Maria Bartiromo, that he was recently working for AIG and was laid off last week. His question was why did the U.S. government provide AIG a second round of funding while he (the caller) was just laid off? The caller was a little bitter but not mad. The caller continued to tell Donny that with just one executive salary at AIG, that company could employ 15 people at his level. The caller wanted to better understand what the money loaned to AIG is going to be used for. Additionally, he wanted to know, why are the AIG executives continuing to receive bonuses and golden parachutes when he was losing his job?
I felt pretty bad for this guy. He said he is married and had 1-2 small children and another child on the way. He called the Donny Deutsch Big Idea television show to get a very needed suggestion and some guidance. This is what Donny’s viewers do. Donny encourages viewers to call in to receive help, suggestions and sometimes-even opportunities. The telephone callers also make contributions to the programming, as you will see. This caller obviously intended for the audience to know that he was in trouble and was looking to Donny and his fellow guests for help. Donny and his guests listened to the young man’s story and when the caller was through, Donny immediately asked his two guests, what should this guy do? Then Charlie Gasparino, began instantly to talk about whether state government was going to run of money and whether they would be able to pay this caller’s unemployment claim. Just what the caller needed to hear. Then Donny and his other guest chimed in about how the federal government may have to assist states with funding to cover unemployment benefits. This appeared to be a lead in for a subsequent few minutes where a talking head was introduced and spoke about state and federal solvency issues.
During this time the caller who remained silent must have been thinking that he made a poor decision by calling Donny’s show, a show which consistently encourages callers to call the broadcast for help with problems related to business. Remember, the caller is a young guy, married with children, and another child on the way. He clearly stated that he has maybe 6 weeks worth of funds in his budget remaining. He stated he did not know what to do after that was gone and was concerned. Donny and his guests did not give the caller any advice at all and never spoke about the potential temporary solutions that might be of benefit to him. Donny and his guests used the caller’s legitimate problem to be used for a carefully planned lead in to the following segment of the show.
I am somewhat disappointed in what transpired on that show last night. I hope that maybe as viewers we did not see the entire picture and perhaps Donny, his guests or Big Idea staff kept this caller on hold until they could provide him with suggestions or possibilities that he may use while unemployed.
Tags: aig, bailout, big idea, business, Charlie Gasparino, Closing Bell, cnbc, donny deutsch, economics, entreprenuer, finance, government, Maria Bartiromo, recession, taxes, taxpayers, unemployment
