Money Radio Format Depicted Inaccurately

As news director at Money Radio I was angered by the weak reporting in the article “Business Radio Picks Up Static” (Sept. 15). Although presenting an in-depth list of programming on KBLA, the article devoted a brief and inaccurate paragraph to Money Radio’s (KMNY) format.

The article implied that our roster of interview guests includes only “stockbrokers and other market tipsters.” In fact, our roster includes many distinguished guests, the minority of whom are stockbrokers or “market tipsters.” When we seek market commentary, it is most often from market analysts who do not handle clients’ trading accounts or from respected financial newsletter editors.

We run solely news programming for at least 18 hours each weekday. The talk shows and informercials that air during a small portion of each broadcast day are produced by the hosts of those programs and not by the editorial department. They have separate sponsorship agreements.

Our programming features interviews with commentators on business and financial topics ranging from plant safety to the Soviet crisis. Our regular guest commentators include an economist from the respected Conference Board in New York, the president of the Assn. of Publicly Traded Companies, a former assistant secretary of the Treasury and the chief economist of Wells Fargo Bank.

Any guest who is also a sponsor is identified as such. Two days before the article appeared, our schedule of interviews included a George Washington University professor discussing plant safety in the wake of the North Carolina poultry plant fire, a spokesperson for California Insurance Commissioner John Garamendi talking about the security of insurance investments, an economic analyst on the impact of defense funding cutbacks and an Amtrak spokesperson discussing an increase in passenger train travel.

Our goal is to present a complete picture of the nation’s economy and financial markets, and to provide in-depth analysis of breaking and ongoing business news stories.

Money Radio’s minor legal and financial problems are unrelated to its news programming, which dominates the station’s format--or its editorial staff. To focus solely on these problems in an article about business radio is an insult to the station, its staff and audience.

PATTI JAGGER

Pomona