This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The 5 Dumbest Things on Wall Street: Oct. 1


4. Discovery Gets Crabby

Discovery (DISCA) set out to strike crab gold a second a time with a spinoff of its hit show The Deadliest Catch. Instead, the network has ended up tangled in a legal battle that threatens to send both the spinoff and one of its flagship series down a ratings abyss.

After six seasons of The Deadliest Catch, Discovery looked to break out captains Johnathan and Andy Hillstrand in their own show, appropriately titled Hillstranded. Sounds great on paper, but anyone who has seen the show, much less produced it, may have gleaned that Bearing Sea fisherman are reliable when it comes to pretty much one thing -- fishing. After that, not so much.

When the Hillstrand brothers allegedly didn't complete the spinoff, Discovery decided the best way to deal with quite possibly the toughest guys on the planet was to file a $3 million lawsuit against them. Even if Discovery was in the right, the company's legal team may have failed to comprehend the difference between these reality stars and, say, the cast of Jersey Shore.

Captain Johnathan and Andy are no Snooki and JWoww. They do not require the presence of television cameras to confirm their own existence. Cameras or no, they'll be fishing next month, next year and likely five years from now. And the presence of cameras on deck and in the wheel house does nothing to get more crab on the boat and pay the crew.

On Tuesday, Captain Sig Hansen, probably the most well-known of the captains, sided with the Hillstrands. In a joint statement, the three fishermen said they will be "unable" to continue with the show due to the litigation. Hansen added that he has not reached an agreement with Discovery regarding next season, but that he still plans to go fishing on Oct. 15, cameras or no.

So, Discovery's lawyers may win the day in court, but Deadliest Catch won't likely be near the draw without the Hillstrand and Hansen clans on board, so to speak. Last season's episode chronicling the death of Captain Phil Harris drew 8.5 million viewers, the largest for Discovery since 2000 and third-largest in the network's history. Next season, those numbers may sink faster than a crab pot. Advertisers and investors should love that.

TheStreet Says: We've got five words of advice for Discovery: Captain Mike "The Situation" Sorrentino. You can thank us later, Discovery.

2 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs