Yesterday, CNBC aired a new segment during Fast Money called “Happy Hour” which was set in a bar in New York City. About half an hour after that segment aired, ICN got a tip that there was more than meets the eye to this new segment. I learned that FBN was going to launch a 5pm program called Happy Hour which was set in a bar in New York City. Coincidence? Hardly. The FBN version had been in the planning stages since July. Someone must have tipped CNBC off to what FBN was up to and CNBC quickly threw together this knockoff to steal FBN’s thunder. This doesn’t sound like the action a network that Jeff Zucker said was “not worried” and was “not concerned” about what FBN did. The FBN version will premiere on October 15th and will originate from a NYC bar called “Bull and Bear”.
While I was working on trying to get more information on the FBN verison, FNC previewed the show, which will be hosted by Rebecca Gomez and Cody Willard, on “Your World” today…and not without commentary on the CNBC knockoff. Transcript follows…
Update: A CNBC insider says, “The concept of having a segment of CNBC’s “Fast Money” originate from a bar was in the original concept of the program. Only now that it’s moving to 5 PM does the segment make sense. Nothing more complicated than that.”
Neil Cavuto: You know you’ll be amazed what you could pick up in a bar. Lots of gossip. Lots of good stuff. And our friends across the Hudson River at that other financial network are any indication, apparently lots of shameless ways to copy exactly what we’re doing. And don’t Rebecca Gomez and Cody Willard know it. They are the stars of Happy Hour. It’s a very special program coming up on FOX Business Network. And, uh, they volunteered to go to bars and talk to us about the latest developments. But seriously guys, good to have both of you here. It’s a good way to get scuttlebutt and what people are really thinking and talking about and, uh, great concept. Apparently others are seizing on it. Go ahead.
Rebecca Gomez: (Laughs) Neil that’s what I was saying. That’s their version of Happy Hour, that’s pretty boring. You’re gonna much rather come and have Happy Hour with us, trust me.
Cody Willard: I’d hate to see their unhappy hour but no in all seriousness that’s really what we’re talking about doing Neil you eluded to it. You know we want to come in and actually sort of wed Main Street with Wall Street and that’s what this is all about. As I like to say Happy Hour is where Wall Street meets Rock and Roll.
Rebecca Gomez: Oh he’s full of all these one-liners, Neil, trust me.
Neil Cavuto: I’ve noticed. He looks Rock and Roll. Go ahead.
Rebecca Gomez: (Laughs) Yeah that’s a whole..
Cody Willard: I feel Rock and Roll too. I don’t know if that makes me Rock and Roll though.
Rebecca Gomez: And Neil you know when we were, you know we’ve been rehearsing, and uh, out here at the Bull and Bear and the people out here are really really great and yesterday we had this big ol’ debate, Cody and I, about the jobs report that came out this morning and you know he was saying that it doesn’t mean anything, it’s backward looking, and ofcourse, go ahead, put your two cents in here.
Cody Willard: I wouldn’t quite say it doesn’t mean anything, but it is a backward looking thing, and you know actually when you look at the jobs report what it tells us is that hey the credit crunch basically ended that’s why the markets rallied when the job market healed itself a little bit. Even the revision what are we going to find out next month about this month’s numbers.
Rebecca Gomez: But Cody.
Cody Willard: It’s always readjusted, it’s changed.
Rebecca Gomez: It’s just one of the indicators that we look at to gauge. People are concerned. Are we going into a recession, or is it just a slowdown? It’s one of the things we take into consideration, and hey, people are concerned about jobs, so it is important, it does matter.
Cody Willard: I just don’t think it really gives you much insight, and certainly I don’t think you can. Even if you knew what the report would have been this morning I don’t think you would have guessed that that market would have done what it did today.
Rebecca Gomez: Don’t get us started on the housing market.
Neil Cavuto: He sounds like the angry drunk at the end of the bar. That’s just my take on it.
Rebecca Gomez: (Laughs)
Cody Willard: We’re going to interview him later Neil.
Rebecca Gomez: There are a couple over there.
Neil Cavuto: You know guys, one thing that is funny about this and I envy you guys and your assignment. What’s funny is when Wall Street guys, Main Street guys, men, women, they do let their hair down at a bar, and they do tell you stuff that they wouldn’t normally say in an office environment. Are you getting a sense of their concern for, you know, what’s going on out there, their jobs, etcetera.
Cody Willard: Go ahead Rebecca. I mean we’ve been talking to people to people in the bar and what have you, what’s the vibe you’ve been getting?
Rebecca Gomez: Yeah, we’ve been out here for, what, nearly a month now. (Laughs)
Neil Cavuto: A month straight just at the bar?
Cody Willard: Time flies when you’re having fun.
Rebecca Gomez: We’re regulars here, but Neil we promise you we’re not having drinks until after the show is over.
Neil Cavuto: Very good very good.
Cody Willard: Most of the time anyway.
Rebecca Gomez: You know people are, and you know the big topic out here which we always talk about on the weekend Cost of Freedom and on your show, the housing market. People you know, it’s one of their biggest assets and people are still very concerned, you know, they want to know, you know when to buy when to sell, when are we reaching the bottom. So that’s, you know, these are things that we’re going to be talking about, and you know Cody brings all his experience of Wall Street and talking about stocks specifically, so we’re going to try to meld the two streets because all of it matters. It just doesn’t matter that you get your news from Nasdaq.
Cody Willard: The economy, the market, and even trading ideas. We’ll run the gamut, you know we’re going to have fun. Like I said, it’s where Wall Street is going to meet Rock and Roll.
Neil Cavuto: Are the ones who give you trading ideas going to be sober?
Cody Willard: Again, most of the time. We are at a bar Neil.
Rebecca Gomez: And, Neil, if they’re not, they have to contribute to our tip jar if they start saying wonky things.
Cody Willard: I’ve already said something a little too wonky. I threw $2 in the tip jar everytime I say something like ‘basis point’.
Neil Cavuto: I had talked to Kevin Magee about how I wanted to do a show at a pizza shop. Actually, I should say it was approved because I’m going to see it pop up on Monday on another network at a pizza shop. Alright, I let the cat out of the bag. I’m hosting the show actually from the house of pancakes in the morning and a pizza shop at night. I gave it away, we’re gonna see it. This is what’s going to make FOX News so cool.
Cody Willard: We’re gonna have fun man.
Rebecca Gomez – We’re gonna have a great time.
Neil Cavuto: If you want to get it with people you want to hang out with…who wouldn’t want to hang out with those guys?
Cody Willard: I don’t necessarily want to hang out with Rebecca. I haven’t been having fun yet but we’re going to try to make it fun.
Neil Cavuto: Alright guys, you look great, you sound great, it’s gonna be great. FOX Business Network – finally a network that covers business for the rest of us.