Wall Street Week - Rukeyser's Dismissal

Rukeyser's Dismissal

From its ratings peak in the early 1980s, WSW suffered a long steady decline in viewers due to competition from shows such as the Nightly Business Report, cable programs like Moneyline, and cable networks such as CNBC. By 2001 viewership was down to 1,500,000 households and demographics showed that the average WSW viewer was 65 years old (about the same age as Rukeyser). MPT began to discuss the possibility of updating the format in an effort to reverse these trends. On March 21, 2002, MPT announced that beginning in June the program would be renamed Wall Street Week with Fortune, would be a collaboration between MPT and Fortune magazine, and would feature two new cohosts. Rukeyser was invited to remain with the program in a reduced role as a senior correspondent, but he turned down the offer.

The following evening, Rukeyser opened the telecast by announcing "A funny thing happened to me on the way to the studio this week—I got ambushed." He criticized MPT's decision to change the show format, announced that he was developing a new business program for PBS, and concluded his commentary by asking viewers to write to their local PBS station and request it carry his new show. After the broadcast MPT dismissed Rukeyser and executive producer Rich Dubroff. Over the next three months Marshall Loeb and Ray Brady served as guest hosts while the new format was put in place.

Despite "ambushing" Rukeyser, the show's trend of losing viewers continued as the show floundered on without Rukeyser's trusted presence and was terminated in early 2005. Rukeyser died 11 months after the show ended.