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Former CNBC Anchor on How American Business Lost Its Backbone

Emily Manifold by Emily Manifold
June 10, 2026
in Business ☆ Finance
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Former CNBC Anchor on How American Business Lost Its Backbone

Former CNBC Anchor on How American Business Lost Its Backbone

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Dennis Kneale has interviewed some of the most recognizable business leaders in the world.

He has spent years inside major media institutions, covered Wall Street at its highest levels, and watched powerful companies rise, collapse, reinvent themselves, and sometimes lose their identity completely.

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After decades at The Wall Street Journal, Forbes, CNBC, and Fox Business, Dennis has developed sharp opinions about leadership, media, politics, and the cultural direction of corporate America.

And he is only too happy to share his views with all who will listen.

His latest book, Oregoners: How One State Chased Away Businesses and People, digs into the transformation of Oregon and the wider political and economic forces reshaping the country. But underneath the statistics and political debate sits something deeper: a growing frustration with what Dennis sees as fear-driven leadership in both government and business.

What Makes Great Leaders Stand Out

Dennis has spent years face-to-face with CEOs, founders, executives, and entrepreneurs.

According to him, the strongest leaders almost always share three traits.

First comes vision.

Not cautious vision. Not safe vision.

Big vision.

“Boldness of vision and a willingness to set impossibly ambitious goals,” Dennis says, is what separates people who create movements from people who simply manage companies.

He admires leaders who chase ideas that initially sound unrealistic and who work relentlessly to make those ideas happen.

But ambition alone is not enough.

Dennis says great leaders also know how to listen.

That does not mean constantly changing direction based on public pressure. Instead, it means being open to debate, hearing different perspectives, and absorbing useful information while still protecting core principles.

Then comes adaptability.

When problems hit, Dennis believes exceptional leaders react quickly instead of freezing.

“The ability to scramble the jets, benefit from failure, and find a better way fast,” is how he describes it.

In his view, resilience matters more than perfection.

The Business Figure Who Changed His Thinking

Among all the entrepreneurs Dennis has covered throughout his career, one name stands far above the rest: Elon Musk.

Dennis says researching his previous book, The Leadership Genius of Elon Musk, completely changed the way he viewed leadership and innovation.

What impressed him was not just Musk’s success.

It was his tolerance for chaos, criticism, and risk.

Dennis points to Musk’s ability to dream at a massive scale while continuing to move forward through public failures, financial pressure, and constant scrutiny.

He also admires Musk’s refusal to soften his opinions simply to avoid backlash.

For Dennis, that mindset has become increasingly rare in modern corporate culture.

Why Dennis Believes Companies Became Too Political

One of the strongest themes in Dennis’s recent work is his belief that business has drifted too far into politics.

He argues that many companies stopped focusing primarily on customers and products and instead became absorbed in social and political movements.

Dennis says concepts like stakeholder capitalism dramatically altered how corporations operate and distracted them from their core mission: serving customers so as to enrich owners.

He believes businesses started prioritizing public approval and ideological positioning over performance and innovation.

“Too many big companies went all in on DEI, the climate change crisis, and other faddish causes of the day,” Dennis says.

In his view, companies made a major strategic mistake by choosing political sides rather than concentrating on delivering the best possible products and services.

He also believes that this shift damaged trust with consumers who simply wanted businesses to stay focused on business.

The Personal Stories Inside Oregoners

While Oregoners tackles large political and economic issues, Dennis says the emotional heart of the book comes from the people he interviewed.

Several stories stayed with him long after the reporting process ended.

One was Kristin Olson, a Portland lawyer who had worked downtown for two decades.

Dennis describes her as someone who had long identified as politically liberal but eventually became disillusioned by the direction of the city.

After experiencing violence firsthand during Portland’s unrest and later being attacked by a homeless individual while walking from her parked car to her office downtown, Kristin decided she could no longer bear living the same way.

“She never returned,” Dennis says.

Another story involved Charles Froelich, a longtime gallery owner deeply involved in Portland’s art and LGBTQ community.

According to Dennis, Charles faced backlash after questioning Covid vaccine ID policies.

The fallout became so severe that he eventually decided to leave the state entirely after spending decades building his business there.

Then there is Amy Nichols.

Amy owns two Portland sports bars with more than 75 years of history behind them: the Cheerful Tortoise and the Cheerful Bullpen.

Dennis says the businesses became caught in the chaos surrounding the city’s political tensions.

One location suffered property damage during riots. Another became the target of protests and boycotts.

At the same time, Amy says, whenever she criticizes Portland in the media, her businesses get hit with a rash of complaints that spark repeated inspections and mounting pressure from local agencies.

Before 2020, Dennis explains, Amy was close to paying off the remaining debt tied to the businesses.

Today, according to him, she feels trapped financially.

For Dennis, stories like these transformed the book from a policy discussion into something much more human.

The Media’s Role In Shaping Reality

Despite the rise of podcasts, independent creators, and social media platforms, Old Guard media organizations still play a powerful role in shaping how Americans feel about their lives, Dennis says.

But he believes many outlets abandoned neutrality years ago.

According to Dennis, much of mainstream media shifted farther left politically during the rise of President Trump, becoming more ideological and opinion-driven.

“The desperate need for online clicks drives more negative coverage,” he says.

This disconnect helps explain why financial markets continue reaching record highs even as  public sentiment often remains deeply pessimistic.

For Dennis, this fight over perception between the media on the left and right has become one of the most important battlefronts in modern America. Skewed perception, he says, may be shaping the country just as much as policy itself.

If you want to explore more from Dennis Kneale and learn more about Oregoners, visit his official website at oregonersbook.com

Emily Manifold

Emily Manifold

Newsdesk Assistant Editor

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