MAPACA

Mid-Atlantic Popular &
American Culture Association

A microcosm for the 2008 big bank bailouts is happening with small businesses on television. “Shark Tank” allows small businesses and inventors to pitch their new idea or business model to a panel of already successful business people who discuss whether or not they want to invest in the person/idea presented in front of them. “The Profit” is about an established business person, Marcus Lemonis who invests in failing businesses and helps them become successful. “Restaurant Impossible” has Chef Robert Irvine inspect and overhaul restaurants that are on the verge of closing their doors forever with a budget of $10,000. Shark Tank first aired in August of 2009, Restaurant Impossible in January of 2011 and The Profit in 2013. Since the Emergency Economic Stabilization Act of 2008, television saw a niche – small time bailouts to help small businesses, while wealthy and successful business owners/investors look like heroes and still earn a profit. Did the bailouts make business men and women into “accidental” philanthropists? The big wigs of industry have always donated large sums of money to charity, whether it’s because they actually care or because of the tax write-off or both. Now, with the small time bailout television programs, they can “donate” large sums of money to help failing businesses, but in return, they get a piece of the business stock, ownership rights and a piece of the profits. In the case of Restaurant Impossible, the money comes from Food Network and instead of stock, they get bragging rights. It is still a similar concept. Have donations become investments? Has modern society forgotten about altruism in favor of turning a profit and bragging rights? This paper will briefly look at the 2008 Bailouts and then it will discuss the small business bailouts via television and how profitable they’ve become within the past few years.