Online Stock Trading - Bloomberg to Axe Financial TV Channels
Bloomberg the financial channel and news agency, which provides real-time prices and stockmarket news and is the supplier of the famous Bloomberg terminals is axing 100 positions and reorganizing its radio and television operation.Lots of investors and stockmarket traders watch Bloomberg TV whilst carrying out their online trading operations with their online stock brokers. Speaking of which have I mentioned lately that you should avoid TDWaterhouse lke the plague, even if they advertise on this site, as I have no control over the ads. that appear. But TDWaterhouse's software is unreliable and their customer service department is to truth what Tim Geithner is to tax returns. As the vernacular would have it TDWaterhous sucks!
Bloomberg said : "The company is adding around 1,000 employees this year in print news, product development, sales and customer service."
"We are also reorganizing the radio and television operations, moving towards a more global 24/7 business network."
"This will entail the elimination of around 100 positions in the US and possibly other job changes in Europe, the UK and Japan."
"We're positioning the television network for growth. The company is growing. But its broadcast operations need to restructure in order to grow and make programming changes."
She also said that Bloomberg plans to "leverage our tremendous global television production assets and the 145 bureaus Bloomberg has around the world" to "transform Bloomberg Television into a network like no other.
You can't help feeling the woman talks too much and in plain English that means they are cutting back their foreign language TV realtime investment news channels and consolidating everything into one global English service for the stock trading fraternity.
On the weekend Bloomberg will ditch its current arts and entertainment programming (hooray) and provide more news and analysis of the stockmarkets and politics and hopefully some decent stockmarket tips.
The TV service has always been something of a loss leader, losing around $20 million a year but bringing in clients for Bloomberg's financial services.
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