FOXNEWS: Home for Unethical Scams

[Synthaholic]

Fox Contributor Tobin Smith Paid $50,000 to Boost Stock



MarketWatch calls out Fox News/Fox Business contributor Tobin Smith for blurring the line between being a stock analyst and being paid — in this case $50,000 — for pushing a single stock. Tobin, via a newsletter, touted the stock of Petrosonic, an energy company. MarketWatch’s Chuck Jaffe writes,

This is a unique case because of how recognizable Smith is, and it brings into focus credibility questions that I’ve found most investors fail to answer even as they are deciding who they can trust. Fox’s official policy is that “no Contributor to FBN, nor his/her firm, and/or family members are allowed to accept financial consideration of any kind whatsoever to issue research, advertisements, or to otherwise promote individual stocks or securities,” a spokesman says. However, the network, which was unaware of Smith’s efforts on Petrosonic’s behalf until I contacted them, would not comment on the matter.
​

Smith’s response when asked if he felt he violated any Fox rules: “That policy was added late last year … my contract was not subject to that clause…”


According to a TVEyes search, Tobin last appeared on FBN, May 28. A spokesperons for the network tells us they’re looking into the matter.


As a side note, Fox Business and MarketWatch are owned by the same company — at least for the next 10 days. News Corp. will split on June 28 and Fox will become part of the new company, 21st Century Fox while MarketWatch, a WSJ brand, remains a News Corp. company.

 

[B. Kidd]

Tobin Smith has a contract, similar to IRS employees getting bonuses.

Nothing to see here....move along.

 

[Wake]

So, if we dangle something small to the side of the larger issues, that can make it so that people will be distracted from those larger issues. We should do that whenever some story breaks that damages our parties beliefs. /sarcasm

 

[Toronado3800]

Fox Contributor Tobin Smith Paid $50,000 to Boost Stock



MarketWatch calls out Fox News/Fox Business contributor Tobin Smith for blurring the line between being a stock analyst and being paid — in this case $50,000 — for pushing a single stock. Tobin, via a newsletter, touted the stock of Petrosonic, an energy company. MarketWatch’s Chuck Jaffe writes,

This is a unique case because of how recognizable Smith is, and it brings into focus credibility questions that I’ve found most investors fail to answer even as they are deciding who they can trust. Fox’s official policy is that “no Contributor to FBN, nor his/her firm, and/or family members are allowed to accept financial consideration of any kind whatsoever to issue research, advertisements, or to otherwise promote individual stocks or securities,” a spokesman says. However, the network, which was unaware of Smith’s efforts on Petrosonic’s behalf until I contacted them, would not comment on the matter.
​

Smith’s response when asked if he felt he violated any Fox rules: “That policy was added late last year … my contract was not subject to that clause…”


According to a TVEyes search, Tobin last appeared on FBN, May 28. A spokesperons for the network tells us they’re looking into the matter.


As a side note, Fox Business and MarketWatch are owned by the same company — at least for the next 10 days. News Corp. will split on June 28 and Fox will become part of the new company, 21st Century Fox while MarketWatch, a WSJ brand, remains a News Corp. company.

How common is this in the industry? It does sound terrible and should stain anything the man ever has to say again. Are there SEC rules against being paid to pimp a stock on a "news" show or do they fall under an infomercial clause?

I really do not know how prevalent paola is in tv market news but there is a regulation with mandatory jail time I would support if someone wrote it up.

Poor english lol. But I guess it makes sense.

 

[bodecea]

Fox Contributor Tobin Smith Paid $50,000 to Boost Stock



MarketWatch calls out Fox News/Fox Business contributor Tobin Smith for blurring the line between being a stock analyst and being paid — in this case $50,000 — for pushing a single stock. Tobin, via a newsletter, touted the stock of Petrosonic, an energy company. MarketWatch’s Chuck Jaffe writes,

This is a unique case because of how recognizable Smith is, and it brings into focus credibility questions that I’ve found most investors fail to answer even as they are deciding who they can trust. Fox’s official policy is that “no Contributor to FBN, nor his/her firm, and/or family members are allowed to accept financial consideration of any kind whatsoever to issue research, advertisements, or to otherwise promote individual stocks or securities,” a spokesman says. However, the network, which was unaware of Smith’s efforts on Petrosonic’s behalf until I contacted them, would not comment on the matter.
​

Smith’s response when asked if he felt he violated any Fox rules: “That policy was added late last year … my contract was not subject to that clause…”


According to a TVEyes search, Tobin last appeared on FBN, May 28. A spokesperons for the network tells us they’re looking into the matter.


As a side note, Fox Business and MarketWatch are owned by the same company — at least for the next 10 days. News Corp. will split on June 28 and Fox will become part of the new company, 21st Century Fox while MarketWatch, a WSJ brand, remains a News Corp. company.

How common is this in the industry? It does sound terrible and should stain anything the man ever has to say again. Are there SEC rules against being paid to pimp a stock on a "news" show or do they fall under an infomercial clause?

I really do not know how prevalent paola is in tv market news but there is a regulation with mandatory jail time I would support if someone wrote it up.

Poor english lol. But I guess it makes sense.

It's called "Payola".

 

[hjmick]

Fox Contributor Tobin Smith Paid $50,000 to Boost Stock



MarketWatch calls out Fox News/Fox Business contributor Tobin Smith for blurring the line between being a stock analyst and being paid — in this case $50,000 — for pushing a single stock. Tobin, via a newsletter, touted the stock of Petrosonic, an energy company. MarketWatch’s Chuck Jaffe writes,

This is a unique case because of how recognizable Smith is, and it brings into focus credibility questions that I’ve found most investors fail to answer even as they are deciding who they can trust. Fox’s official policy is that “no Contributor to FBN, nor his/her firm, and/or family members are allowed to accept financial consideration of any kind whatsoever to issue research, advertisements, or to otherwise promote individual stocks or securities,” a spokesman says. However, the network, which was unaware of Smith’s efforts on Petrosonic’s behalf until I contacted them, would not comment on the matter.
​

Smith’s response when asked if he felt he violated any Fox rules: “That policy was added late last year … my contract was not subject to that clause…”


According to a TVEyes search, Tobin last appeared on FBN, May 28. A spokesperons for the network tells us they’re looking into the matter.


As a side note, Fox Business and MarketWatch are owned by the same company — at least for the next 10 days. News Corp. will split on June 28 and Fox will become part of the new company, 21st Century Fox while MarketWatch, a WSJ brand, remains a News Corp. company.

Wow. Not only did you post the entire piece from your source, which I believe is in direct violation of board rules, you didn't bother to look any further than a piece than would seem to be quite damning to the Fox brand...

Except for one thing...

Fox Business Terminates Tobin Smith's Contract - Business Insider

 

[Synthaholic]

Sunshine makes the cockroaches run.