Washington Post profiles Fox Business Network’s Peter Barnes

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Value Added: Fox Business reporter writes — and lives — his stories

By Thomas Heath, Washington Post

“We learn wisdom from failure much more than from success.”

— Samuel Smiles (Scottish author, 1812-1904)

Just ask Peter Barnes about failure and success.

The 54-year-old senior Washington correspondent for the Fox Business Network is also a serial entrepreneur who is batting one for three in business start-ups.

One hit. Two whiffs. No home runs.

I caught up with Barnes in several phone conversations between his Fox TV appearances last week, where he was telling viewers how much more they were going to fork over to the feds under the new U.S. tax rates.

Barnes is not just any working journalist. He is a resilient risk-taker, qualities that I envy.

The entrepreneur has actually put his cash, time and reputation into three start-ups. He has written business plans, raised money, met a payroll, paid taxes, hired and fired and — when it didn’t work — figured out the next thing. He can read a balance sheet and knows that “discount rate” is not the price of something at Wal-Mart.

“I really understand how hard it is to be an entrepreneur,” Barnes said. “Every person who is successful and is a gazillionaire, a lot of them have failed.”

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