Nightly Business Report
Encyclopedia
Nightly Business Report (NBR) is a Business news
television magazine broadcast
live Monday to Friday evenings on most public television stations in the United States. Every weeknight, Nightly Business Report distills the essence of what matters in the business world, and provides analysis and reflection so the news has meaning. In a lively half-hour, NBR empowers viewers to make better financial decisions.
The show is produced by NBR Worldwide, Inc. at public television station WPBT
-TV in Miami
, Florida
, and distributed by PBS
. NBR is hosted by Susie Gharib
in New York and Tom Hudson in Miami, replacing Paul Kangas
who left the program after hosting it for 30 years.
, indices
, and stocks
of note for the day, including the Dow Jones Industrial Average
, NASDAQ
, the S&P 500
, and other major markets, as well as interviews
with important business
persons, generally CEOs of major companies as well as economists, market analysts and policy makers. Programs on market holidays depart from this format, and often deal with a single subject or theme. For example, the New Year's Day program often deals with a review of the markets during the previous year and a preview of the markets in the New Year; the Independence Day program often deals with a review of the markets at mid-year and a preview of the markets for the remainder of that year. The program usually concludes with a commentary from one of NBR's large stable of notables. The program frequently presents special series on business and industry topics. On Friday, Tom Hudson
interviews a leading market strategist in his "Market Monitor" segment. There was a 15-minute morning version of NBR called Morning Business Report during the mid-1990s.
When Nightly Business Report premiered on January 22, 1979, NBR has been part of the PBS national program, on South Florida's public television station, it was a 15-minute local program. At the time, few realized that it signaled the start of a new era in TV news, as television's first daily business news program.
The idea for a business news program had come from several businessmen on the WPBT Board. Linda O'Bryon, who was WPBT's News Director at the time, headed the effort to get NBR on the air. In the fall of 1978, she was approached by senior management and asked to create a daily business news program. She developed the program concept and expanded the editorial staff to launch NBR. Paul Kangas was among the first to join, signing on as its stock market commentator. Kangas always signed off each broadcast using his trademark phrase, "I'm Paul Kangas, wishing all of you the best of good buys!" (a pun on "the best of goodbyes"). O'Bryon and Merwin Sigale were the first co-anchors. The editorial/production team that launched the program included WPBT veterans Rodney Ward, Bruce Eibe and Jeff Huff, and Jack Kahn, who was the program's first producer.
Within nine months, NBR expanded to a half-hour. On October 19, 1981, NBR launched on 125 public stations around the country. The first regular commentator on the program was Alan Greenspan, then a private economist, who remained as an NBR commentator until his appointment as Fed chief in 1987. A number of public television stations supplemented the program's newsgathering efforts by serving as "bureaus" for the program.
The timing of NBR's national roll-out couldn't have been better. Ronald Reagan moved into the White House and stock prices soon took off like a rocket, sending the Dow Jones Industrial Average on a historic ride that took it almost straight up for the next two decades. The unprecedented bull market had a side effect -- it brought millions of new investors to the market and to NBR. Over the years, NBR's coverage has extended far beyond Wall Street. NBR crews have gone to the Persian Gulf, Japan, Vietnam, Taiwan and China.
In 1998, respected financial journalist Susie Gharib
joined the anchor desk with Paul Kangas. Gharib anchors from the heart of New York's financial district, while Kangas remained at the program's production center in Miami. NBR is currently broadcast television's only network evening news program that originates from two cities on a regular basis.
NBR is also seen internationally through Worldnet, the U.S. Radio and Television Armed Services network and on SBS Australia and Triangle Television in New Zealand. Audio of the program airs on Sirius XM satellite radio at 7pm ET. NBR operates three reporting bureaus with full-time staff members as well as bureaus in Denver, Silicon Valley, and Phoenix operated in partnership with the public television stations in those markets.
NBR's anchors and reporters have interviewed sitting presidents (George Bush, George W. Bush, Reagan, Clinton) former presidents (Carter) and corporate chiefs -- ranging from Jack Welch to Warren Buffett and Bill Gates. Alumni of the program's anchor desk include the late Del Frank as well as Dean Shepherd, Jim Wicks and Cassie Seifert. Neil Cavuto served as NBR's New York bureau chief in the late 1980s. Other notable people at NBR included John Defterios
(now of CNN
) and Neil Cavuto
(Fox News Channel
).
Over the years, NBR has received numerous awards. In 2005, for extended coverage of China's emergence as an international economic power, and in 2006 the website was honored with a took the helm from Linda O’Bryon in 2006, serving as executive editor and senior vice president through 2011. O'Bryon is currently President and CEO of South Carolina ETV.
In 2009, Linda O'Bryon and Paul Kangas for their pioneering efforts in business journalism. The honor was a fitting close to Paul Kangas' legendary 30 year career talking stocks on Nightly Business Report. Paul's last broadcast aired Thursday, December 31st, 2009 on PBS. He signed off by wishing the audience one final "best of good buys."
In January 2010, Tom Hudson joined Nightly Business Report as the Miami anchor, reporting on topics such as Federal Reserve interest rate policy, corporate governance and shareholder activism as well as providing insights to daily market activity. Prior to co-anchoring Nightly Business Report, he was host and managing editor of the nationally syndicated financial television program "First Business." In July 2011, Tom was named Managing Editor and Co-anchor, a newly combined position with both editorial and managerial responsibility.
In August 2010, it was announced that WPBT-TV had sold the show to NBR Worldwide Inc., a newly-formed privately held company headed by Mykalai Kontilai, an entrepreneur in the Instructional Television Distribution (ITV) industry. Gary Ferrell, a former president and chief executive of North Texas Public Broadcasting (parent company of KERA-TV
in Dallas, Texas
), is the company's CFO. The sale was first proposed in February. According to WPBT, the station will continue to be associated with the show as a presenting station, and the sale reflects their assessment that NBR Worldwide Inc. has "the ideas and resources and potential to take it to the next level" and "can do more things with it than WPBT
could." Rick Schneider, president and CEO of WPBT, said the staff and editorial team won't change and "Nobody loses their job as a result of this."
Until the name changed, the program was carried under the "Community Television of South Florida, Inc." banner and produced by NBR Enterprises, Inc/WPBT Miami.
In November 2010, NBR Worldwide Inc. announced a restructuring of the Nightly Business Report staff. That restructuring resulted in job cuts for four on-air contributors, including Scott Gurvey (NY bureau chief), Stephanie Dhue (Washington), Jeff Yastine (Miami) and Jamila Trindle (Washington), in addition to four behind-the-scenes personnel. In that same month, NBR Worldwide Inc. also announced it would open a Silicon Valley news bureau, under the direction of San Jose-based reporter Robin McElhatton.
On November 16, 2010, NBR Worldwide Inc. announced the promotions of Rodney Ward from Executive Editor to Executive VP of Special Projects. Ward's former executive editor duties were assumed by managing editor Wendie Feinberg, who was also promoted to VP/Managing Editor. On July 11, 2011, NBR Worldwide Inc. announced the departures of Rodney Ward as Executive VP of Special Projects, and Wendie Feinberg, as VP/Managing Editor. In a press release, NBR Worldwide said the moves were "...part of its ongoing efforts to streamline operations and maximize resources." CEO Mykalai Kontilai said Miami-based anchor Tom Hudson would assume the role and title of Managing Editor, in addition to his current on-air duties.
, also known for themes on other television series and game shows. The original Kalehoff theme was used from January 4, 1988 to November 15, 2002. Along with an update to the graphics and presentation, the theme was updated on November 18, 2002 and was used until January 1, 2010. A new theme, new logo, and new set for the show's Miami headquarters debuted on January 4, 2010. However, the 2002 theme is still used during the index of daily stocks presentation.
Business journalism
Business journalism is the branch of journalism that tracks, records, analyzes and interprets the economic changes that take place in a society...
television magazine broadcast
Broadcasting
Broadcasting is the distribution of audio and video content to a dispersed audience via any audio visual medium. Receiving parties may include the general public or a relatively large subset of thereof...
live Monday to Friday evenings on most public television stations in the United States. Every weeknight, Nightly Business Report distills the essence of what matters in the business world, and provides analysis and reflection so the news has meaning. In a lively half-hour, NBR empowers viewers to make better financial decisions.
The show is produced by NBR Worldwide, Inc. at public television station WPBT
WPBT
WPBT is a PBS member public television station that serves the entire South Florida region, and even including portions of the Treasure Coast, the only television station to serve the entire metropolis...
-TV in Miami
Miami, Florida
Miami is a city located on the Atlantic coast in southeastern Florida and the county seat of Miami-Dade County, the most populous county in Florida and the eighth-most populous county in the United States with a population of 2,500,625...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, and distributed by PBS
Public Broadcasting Service
The Public Broadcasting Service is an American non-profit public broadcasting television network with 354 member TV stations in the United States which hold collective ownership. Its headquarters is in Arlington, Virginia....
. NBR is hosted by Susie Gharib
Susie Gharib
Susie Gharib, born in 1950, is a leading business news journalist and co-anchor of PBS' Nightly Business Report— television’s most watched evening business news program....
in New York and Tom Hudson in Miami, replacing Paul Kangas
Paul Kangas
Paul Kangas was the Miami-based co-anchor of the PBS television program Nightly Business Report, a role he held from 1979, when the show was a local PBS program in Miami, through December 31, 2009.-Career:...
who left the program after hosting it for 30 years.
Format
The daily program consists of reports on the changes in the stock marketStock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
, indices
Index (economics)
In economics and finance, an index is a statistical measure of changes in a representative group of individual data points. These data may be derived from any number of sources, including company performance, prices, productivity, and employment. Economic indices track economic health from...
, and stocks
Stocks
Stocks are devices used in the medieval and colonial American times as a form of physical punishment involving public humiliation. The stocks partially immobilized its victims and they were often exposed in a public place such as the site of a market to the scorn of those who passed by...
of note for the day, including the Dow Jones Industrial Average
Dow Jones Industrial Average
The Dow Jones Industrial Average , also called the Industrial Average, the Dow Jones, the Dow 30, or simply the Dow, is a stock market index, and one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow...
, NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
, the S&P 500
S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...
, and other major markets, as well as interviews
Interviews
Interviews is:# the plural form of "interview"# a compilation album by Bob Marley & the Wailers, see Interviews # a C++ toolkit for the X Window System, see InterViews...
with important business
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
persons, generally CEOs of major companies as well as economists, market analysts and policy makers. Programs on market holidays depart from this format, and often deal with a single subject or theme. For example, the New Year's Day program often deals with a review of the markets during the previous year and a preview of the markets in the New Year; the Independence Day program often deals with a review of the markets at mid-year and a preview of the markets for the remainder of that year. The program usually concludes with a commentary from one of NBR's large stable of notables. The program frequently presents special series on business and industry topics. On Friday, Tom Hudson
Tom Hudson
Tom Hudson is an English Actor who can also be credited as Thomas Hudson.Hudson is best known for his roles as Baz Wainwright in Grange Hill between 2003 and 2007 and as Paul Clayton in Coronation Street between 2007 and 2008.In February 2008, ten months after landing the role of Terry Duckworth's...
interviews a leading market strategist in his "Market Monitor" segment. There was a 15-minute morning version of NBR called Morning Business Report during the mid-1990s.
Current national sponsor
- Franklin Templeton InvestmentsFranklin Templeton InvestmentsFranklin Resources Inc. is a holding company which, together with its subsidiaries, is referred to as Franklin Templeton Investments; it is an investment firm originally founded in New York in 1947 as Franklin Distributors, Inc. It is listed on the NYSE under the ticker BEN, in honor of Benjamin...
(and its predecessor, The Franklin Group of Funds) - PBSPublic Broadcasting ServiceThe Public Broadcasting Service is an American non-profit public broadcasting television network with 354 member TV stations in the United States which hold collective ownership. Its headquarters is in Arlington, Virginia....
Viewers Like You
Former national sponsors and production partners
- A.G. EdwardsA.G. EdwardsA.G. Edwards, Inc. was an American financial services holding company; its principal wholly owned subsidiary was A.G. Edwards & Sons, Inc., which operated as a full-service securities broker-dealer in the United States and Europe. The firm was acquired by Wachovia Securities, which later was...
* COMPAQCompaqCompaq Computer Corporation is a personal computer company founded in 1982. Once the largest supplier of personal computing systems in the world, Compaq existed as an independent corporation until 2002, when it was acquired for US$25 billion by Hewlett-Packard.... - Digital Equipment CorporationDigital Equipment CorporationDigital Equipment Corporation was a major American company in the computer industry and a leading vendor of computer systems, software and peripherals from the 1960s to the 1990s...
- BridgeBridgeA bridge is a structure built to span physical obstacles such as a body of water, valley, or road, for the purpose of providing passage over the obstacle...
- ExxonMobilExxonMobilExxon Mobil Corporation or ExxonMobil, is an American multinational oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil. Its headquarters are in Irving, Texas...
- Hewlett-PackardHewlett-PackardHewlett-Packard Company or HP is an American multinational information technology corporation headquartered in Palo Alto, California, USA that provides products, technologies, softwares, solutions and services to consumers, small- and medium-sized businesses and large enterprises, including...
- Kidder Peabody
- Mercedes-BenzMercedes-BenzMercedes-Benz is a German manufacturer of automobiles, buses, coaches, and trucks. Mercedes-Benz is a division of its parent company, Daimler AG...
- MicrosoftMicrosoftMicrosoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
- National Association of RealtorsNational Association of RealtorsThe National Association of Realtors , whose members are known as Realtors, is North America's largest trade association. representing over 1.2 million members , including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries...
- Pacific TelesisPacific TelesisPacific Telesis Group was one of the seven Regional Bell Operating Companies, sometimes also referred to as "RBOCs" or "Baby Bells", created in 1983 in preparation of the breakup of AT&T as a holding company for Pacific Bell and Nevada Bell, Pacific Telesis International and several other...
Group - ReutersReutersReuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
- Wells FargoWells FargoWells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
History
Nightly Business Report (NBR) is the nation's most-watched evening business news program. Distributed by PBS, it is carried by public stations across the nation. NBR is also seen around the world, and segments of the program are available online and through various multimedia and educational platforms. But its early beginnings are rooted in local television.When Nightly Business Report premiered on January 22, 1979, NBR has been part of the PBS national program, on South Florida's public television station, it was a 15-minute local program. At the time, few realized that it signaled the start of a new era in TV news, as television's first daily business news program.
The idea for a business news program had come from several businessmen on the WPBT Board. Linda O'Bryon, who was WPBT's News Director at the time, headed the effort to get NBR on the air. In the fall of 1978, she was approached by senior management and asked to create a daily business news program. She developed the program concept and expanded the editorial staff to launch NBR. Paul Kangas was among the first to join, signing on as its stock market commentator. Kangas always signed off each broadcast using his trademark phrase, "I'm Paul Kangas, wishing all of you the best of good buys!" (a pun on "the best of goodbyes"). O'Bryon and Merwin Sigale were the first co-anchors. The editorial/production team that launched the program included WPBT veterans Rodney Ward, Bruce Eibe and Jeff Huff, and Jack Kahn, who was the program's first producer.
Within nine months, NBR expanded to a half-hour. On October 19, 1981, NBR launched on 125 public stations around the country. The first regular commentator on the program was Alan Greenspan, then a private economist, who remained as an NBR commentator until his appointment as Fed chief in 1987. A number of public television stations supplemented the program's newsgathering efforts by serving as "bureaus" for the program.
The timing of NBR's national roll-out couldn't have been better. Ronald Reagan moved into the White House and stock prices soon took off like a rocket, sending the Dow Jones Industrial Average on a historic ride that took it almost straight up for the next two decades. The unprecedented bull market had a side effect -- it brought millions of new investors to the market and to NBR. Over the years, NBR's coverage has extended far beyond Wall Street. NBR crews have gone to the Persian Gulf, Japan, Vietnam, Taiwan and China.
In 1998, respected financial journalist Susie Gharib
Susie Gharib
Susie Gharib, born in 1950, is a leading business news journalist and co-anchor of PBS' Nightly Business Report— television’s most watched evening business news program....
joined the anchor desk with Paul Kangas. Gharib anchors from the heart of New York's financial district, while Kangas remained at the program's production center in Miami. NBR is currently broadcast television's only network evening news program that originates from two cities on a regular basis.
NBR is also seen internationally through Worldnet, the U.S. Radio and Television Armed Services network and on SBS Australia and Triangle Television in New Zealand. Audio of the program airs on Sirius XM satellite radio at 7pm ET. NBR operates three reporting bureaus with full-time staff members as well as bureaus in Denver, Silicon Valley, and Phoenix operated in partnership with the public television stations in those markets.
NBR's anchors and reporters have interviewed sitting presidents (George Bush, George W. Bush, Reagan, Clinton) former presidents (Carter) and corporate chiefs -- ranging from Jack Welch to Warren Buffett and Bill Gates. Alumni of the program's anchor desk include the late Del Frank as well as Dean Shepherd, Jim Wicks and Cassie Seifert. Neil Cavuto served as NBR's New York bureau chief in the late 1980s. Other notable people at NBR included John Defterios
John Defterios
John Kosta Defterios is an American journalist best known for his work at CNN. He is currently CNN’s Emerging Markets Editor, host of Marketplace Middle East and Global Exchange on CNN International.-Education:...
(now of CNN
CNN
Cable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
) and Neil Cavuto
Neil Cavuto
Neil Patrick Cavuto is an American television anchor and commentator on the Fox Business Network and host of three television programs, Your World with Neil Cavuto and Cavuto on Business, both on the Fox News Channel and Cavuto on sister channel Fox Business Network.Cavuto also tapes a nightly...
(Fox News Channel
Fox News Channel
Fox News Channel , often called Fox News, is a cable and satellite television news channel owned by the Fox Entertainment Group, a subsidiary of News Corporation...
).
Over the years, NBR has received numerous awards. In 2005, for extended coverage of China's emergence as an international economic power, and in 2006 the website was honored with a took the helm from Linda O’Bryon in 2006, serving as executive editor and senior vice president through 2011. O'Bryon is currently President and CEO of South Carolina ETV.
In 2009, Linda O'Bryon and Paul Kangas for their pioneering efforts in business journalism. The honor was a fitting close to Paul Kangas' legendary 30 year career talking stocks on Nightly Business Report. Paul's last broadcast aired Thursday, December 31st, 2009 on PBS. He signed off by wishing the audience one final "best of good buys."
In January 2010, Tom Hudson joined Nightly Business Report as the Miami anchor, reporting on topics such as Federal Reserve interest rate policy, corporate governance and shareholder activism as well as providing insights to daily market activity. Prior to co-anchoring Nightly Business Report, he was host and managing editor of the nationally syndicated financial television program "First Business." In July 2011, Tom was named Managing Editor and Co-anchor, a newly combined position with both editorial and managerial responsibility.
In August 2010, it was announced that WPBT-TV had sold the show to NBR Worldwide Inc., a newly-formed privately held company headed by Mykalai Kontilai, an entrepreneur in the Instructional Television Distribution (ITV) industry. Gary Ferrell, a former president and chief executive of North Texas Public Broadcasting (parent company of KERA-TV
KERA-TV
KERA-TV, virtual channel 13 , is the PBS member station in the Dallas-Fort Worth Metroplex. Licensed to Dallas, it broadcasts from a transmitter located in Cedar Hill. However, it also serves as the default PBS station for the Abilene, San Angelo and Tyler/Longview/Lufkin/Nacogdoches markets, as...
in Dallas, Texas
Dallas, Texas
Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
), is the company's CFO. The sale was first proposed in February. According to WPBT, the station will continue to be associated with the show as a presenting station, and the sale reflects their assessment that NBR Worldwide Inc. has "the ideas and resources and potential to take it to the next level" and "can do more things with it than WPBT
WPBT
WPBT is a PBS member public television station that serves the entire South Florida region, and even including portions of the Treasure Coast, the only television station to serve the entire metropolis...
could." Rick Schneider, president and CEO of WPBT, said the staff and editorial team won't change and "Nobody loses their job as a result of this."
Until the name changed, the program was carried under the "Community Television of South Florida, Inc." banner and produced by NBR Enterprises, Inc/WPBT Miami.
In November 2010, NBR Worldwide Inc. announced a restructuring of the Nightly Business Report staff. That restructuring resulted in job cuts for four on-air contributors, including Scott Gurvey (NY bureau chief), Stephanie Dhue (Washington), Jeff Yastine (Miami) and Jamila Trindle (Washington), in addition to four behind-the-scenes personnel. In that same month, NBR Worldwide Inc. also announced it would open a Silicon Valley news bureau, under the direction of San Jose-based reporter Robin McElhatton.
On November 16, 2010, NBR Worldwide Inc. announced the promotions of Rodney Ward from Executive Editor to Executive VP of Special Projects. Ward's former executive editor duties were assumed by managing editor Wendie Feinberg, who was also promoted to VP/Managing Editor. On July 11, 2011, NBR Worldwide Inc. announced the departures of Rodney Ward as Executive VP of Special Projects, and Wendie Feinberg, as VP/Managing Editor. In a press release, NBR Worldwide said the moves were "...part of its ongoing efforts to streamline operations and maximize resources." CEO Mykalai Kontilai said Miami-based anchor Tom Hudson would assume the role and title of Managing Editor, in addition to his current on-air duties.
Theme
The theme and bumper music that was used from January 22, 1979 to January 1, 1988 was composed by Edd KalehoffEdd Kalehoff
Edward Woodley "Edd" Kalehoff is a music composer who specializes in compositions for television.-Notable pieces:Composer of about 1,000 pieces, mainly for television, his credits include the majority of cues used on The Price is Right as well as the Nickelodeon game show Double Dare, a music...
, also known for themes on other television series and game shows. The original Kalehoff theme was used from January 4, 1988 to November 15, 2002. Along with an update to the graphics and presentation, the theme was updated on November 18, 2002 and was used until January 1, 2010. A new theme, new logo, and new set for the show's Miami headquarters debuted on January 4, 2010. However, the 2002 theme is still used during the index of daily stocks presentation.