‘Power Lunch’ focuses on area’s economy - East Valley Tribune: Business

‘Power Lunch’ focuses on area’s economy

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Posted: Wednesday, May 18, 2005 11:09 am | Updated: 7:18 am, Fri Oct 7, 2011.

With the practice putting green of the Phoenician resort serving as a backdrop, CNBC showcased the Valley and state for two hours Tuesday.

The local economy was the subject of the national business news cable channel’s "Power Lunch," which bills itself as "an up-close and personal look at the companies, people and trends driving the markets and influencing Wall Street."

The show — which runs at lunch time in the Eastern time zone — normally originates from New York, but this week went on location, hitting Miami, Fla. on Monday and heading for Los Angeles today.

"The purpose of the show is to give viewers ideas they can use to make money,’’ host Bill Griffeth said after the show.

The producers chose the Valley because it’s a hot market with its job and population growth.

It’s also something of an untold story — at least for a national audience, Griffeth said. "Las Vegas and its growth was a big story in the 1990s,’’ Griffeth said. "But you don’t want to go back and tell the same story."

Beside shots of the resort’s manicured grounds, "Power Lunch" featured live interviews with sports mogul Jerry Colangelo and Avnet chief financial officer Ray Sadowski.

"Power Lunch" gave us lots of shots of homes being built as well as talking live with Steve Hilton of Meritage Homes, Buddy Satterfield of Shea Homes, and Jim Pederson, commercial real estate developer and Democrat Party activist.

There were remote interviews with Sen. John McCain, R-Ariz., and Rep. J.D. Hayworth, R-Ariz., offering opposite views on McCain’s immigration reform bill. There was an interview with Craig Columbus, who was Hayworth’s 2002 Democratic opponent. Columbus, who operates a hedge fund in the Valley, was a regular contributor to "Power Lunch" for seven years.

Columbus emphasized the growing financial services sector in the Valley and how there’s more to the region’s economy than tourism and building. "Someday I hope someone does a show like this, and it doesn’t center on real estate," he said after his segment.

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