Pink's Bottom Line on Media, Money and Sports
News organizations and election results, FICO scores and the NFC Least
In today’s newsletter, I discuss why improving consumer credit scores might be misleading among other topics.
MEDIA: News Organizations and Election Results
A majority of Americans appear to have at least some confidence in their preferred news organizations to make the right call when it comes to announcing the winner of the election, according to a survey by the Pew Research Center.
Among those surveyed, 36% said they had “a lot” of confidence and 46% said they had “some” confidence that their preferred news sources would make the correct call on Election Day.
Pink's Bottom Line
Interestingly, 49% of Vice President Joe Biden’s supporters and 34% of President Donald Trump supporters say they have “a lot” of confidence that their preferred news organizations will make the right call, according to the Pew Survey.
As interest in election coverage soars, it appears that news organizations for the most part still retain good credibility with their viewers and readers to make the right call on election night.
That will undoubtedly be important in such a divisive and polarizing election.
MONEY: Credit Scores
The average consumer’s credit score is actually improving, according to data from FICO, a data and research company that provides the eponymous FICO score for American consumers.
FICO says that the average FICO score rose five points to 711 in July of this year compared to July of 2019.
FICO also says that the average consumer carried less debt on credit cards in July 2020 — carrying on average $6,004 compared to $6,934 in January.
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At face value, higher FICO scores and lower average credit card debt might look like positive indicators about the health of the American consumer.
However, FICO says that we shouldn’t look at improving FICO scores as a leading indicator of consumer health.
In fact, FICO says that it generally takes some time before we will see the true impact of a major economic shock — like the coronavirus pandemic — on the American consumer’s credit scores.
SPORTS: NFC Least Again
With four losses in their first six games, including a 38-10 shellacking by the Arizona Cardinals last night, the NFL’s Dallas Cowboys should be reeling.
Instead, they find themselves sitting in first place atop the NFC East, the worst division in football and perhaps the worst in any sport.
Last week, The Cowboys also lost their starting quarterback Dak Prescott for the season due to injury.
Pink's Bottom Line
Nothing seems to be going right for the team except that if the playoffs were to start today, the Cowboys would be in them.
It’s also no surprise that the 1-5 New York Giants who trail Dallas by one game in the division now suddenly find themselves as playoff contenders.
I now expect that the team that wins the NFC East division this year will enter the post season (excluding strike seasons) with the worst record for a playoff team in the history of the NFL.
Jeremy Pink is former CEO of private-equity backed Broadcast Sports International where he led the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore. Jeremy currently serves as an advisor, consultant or board member to companies in New York, London, Hong Kong and Dubai in the media, technology, sports and financial tech sectors.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)