“MARKETPLACE WEEKEND” IS GONE, BUT “SOUND MONEY” LIVES ON • LATIN MUSIC GIG OPEN AT “WORLD CAFE” • THE WEAKEST LINK GETS WEAKER

American Public Media (APM) has announced that its weekly show Marketplace Weekend will vanish as of the end of July. 

Marketplace Senior VP Deborah Clark said in a press release said APM and Marketplace have more important things to do:

“While difficult, this decision will allow us to increase investment across new platforms, while focusing on our flagship broadcast offerings.”

Bob Potter in the 1990s (second from left) with MPR pals Greg Magnuson, Potter,

Steph Curtis and Patti Rai Rudolph (Image courtesy MPR & Steve Wunwood)

Though the name Marketplace Weekend was used for the last five years or so, the program’s roots go back to Sound Money, a simple but elegant program that started on Minnesota Public Radio (MPR) in 1985. 

We worked with Sound Money in the 1990’s, back when American Public Radio (now Public Radio International – PRI) was in charge of marketing and distributing MPR’s nationally syndicated programs.

Sound Money stood out because of its high-value takeaway and folksy host Bob Potter. Potter created the show while he was working as a reporter and staff announcer at MPR. The on-air team included Potter, economist Chris Farrell and financial advisor Erica Whittinger. Karen Tofte produced the program.

Bob Potter (left) with MPR’s Gary Eichten

in the mid 1980s (Image courtesy MPR)

Spark News reached Potter at his home in St. Petersburg, Florida.  He told us about the mission of Sound Money:

“Sound Money was built on the premise that people want honest, straightforward financial advice. 

Our goal was to engender trust with our listeners and answer their questions. 

We provided information for people with all levels of portfolios.  Basically, we tried to put investing in a larger context to help folks make wise choices.”

  

Potter created Sound Money as a public radio, less stuffy, counterpoint to Louis Rukeyser’s Wall Street Week on public television. Sound Money had a terrific track record. At its high point in the mid 1990s, Sound Money was heard on over 200 stations and had 350,000 weekly listeners.

Things changed around the year 2000 when APM acquired Marketplace.  Potter retired from MPR.  Soon Sound Money moved to Los Angeles and was folded into Marketplace. Over subsequent years, the weekly program had several different names, finally settling on Marketplace Weekend about five years ago.

Though the program had success while being produced at Marketplace, it could never replace the personal, intimate feeling of Sound Money.

Potter & business partner Scott Haakenson

Sound Money is still going strong today, but on a different platform. Potter and business partner Scott Haakenson acquired the Sound Money name and image from APM. Potter and Haakenson opened Sound Money Group [link], an investment and consulting firm built on the show’s mission.

When asked about similarities between the radio program and the business, Potter said they both provide credible, honest, straightforward, no nonsense explanations of economic and market trend and provide answers to individual financial concerns. Potter explained the biggest difference:

The radio program had thousands of listeners so we couldn’t provide specific advice to individuals.  Our company provides the same quality information and perspective to one client at a time.

Asked if he misses being on the air, Potter said:

Yes, I miss it everyday. Once you have the bug, there is nothing else quite like it.

WORLD CAFE SEEKS A PRODUCER FOR ITS LATIN MUSIC COVERAGE

According to posts on social media by WXPN General Manager for Programming Bruce Warren, World Cafe [link] is seeking applications for a part-time, temporary Producer to report, edit and produce self-contained pieces about the Latin music world for radio digital distribution.

The gig is open now for a person to work 18 hours a week for up to two years and perhaps longer depending on grant funding. World Cafe wants a person who is proficient in Spanish and experience developing a narrative arc plus an understanding of the standards and practices of public media journalism.

This sounds like a terrific foot-in-the-door at one of public medias most creative shops.  But, don’t hesitate. Send your resume and cover letter to World Cafe Senior Producer, Kimberly Junod, at kimberly@xpn.org using the subject line “Latin Roots Producer."  

PUBLIC RADIO’S WEAKEST LINK – WKNO – GETS EVEN WEAKER

According to the Nielsen Audio June 2018 Nielsen Audio ratings, WKNO in Memphis is sinking even lower in estimated weekly listeners. 

We named WKNO as our first Weakest Link because of its many-year tradition of under serving the people of Memphis.

Put it this way, we see no indication that WKNO’s management is even trying to improve the performance of their programming.

How bad is WKNO?  According to Nielsen it trails a mainly automated oldies format on WQOX, a suburban station operating from a high school.