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Pulitzer winner Crewdson joining Project on Government Oversight

2012
05.16

John Crewdson, who won a Pulitzer Prize for his coverage of immigration in The New York Times, and whose work in the Chicago Tribune is the reason defibrillators are now standard equipment on all U.S. airlines, is joining the Project On Government Oversight as a senior investigator.

Crewdson has worked in Washington for the past 22 years as an investigative reporter for Bloomberg News and senior correspondent for the Tribune. At Bloomberg, his team’s coverage of the aftermath of the Citizens United ruling won the National Press Foundation’s 2011 Dirksen Award for distinguished reporting on Congress.

His special report in the Tribune on the lack of emergency medical equipment on commercial airliners sparked Congressional hearings and led the FAA to require U.S. airlines to carry portable defibrillators and emergency medical kits as standard equipment. The report was a finalist for the Pulitzer Prize for Explanatory Journalism.

“John Crewdson’s investigations have shaken the halls of power and, in many cases, righted injustices,” POGO Executive Director Danielle Brian said in a statement. “His work exemplifies POGO’s mission of exposing corruption and exploring solutions.”

In some cases, Crewdson’s work has corrected history. While at the Tribune, he reported on the hundreds of Americans who have falsely claimed to have been awarded the Medal of Honor and debunked the National Institutes of Health’s claim to have discovered the virus that causes AIDS. The latter earned Crewdson the George Polk Award for Medical Reporting.

“For decades, POGO has been widely admired in Washington for its unrelenting determination to delve deeply into the machinery of government, uncover waste, fraud and corruption, and then force Congress and the White House to confront the problems it has exposed,” Crewdson said in a statement. “I look forward to contributing to that essential effort.”

Crewdson graduated from the University of California, Berkeley, where he was awarded a degree in economics with great distinction. He began his career by covering the Watergate scandal for The New York Times, where he broke stories about the Nixon administration’s illegal wiretaps and domestic spying. In 1981, he won the Pulitzer Prize for national reporting at the Times for his coverage of illegal aliens and immigration.

Category Bloomberg, Job changes, Uncategorized |

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Covering the Facebook IPO

2012
05.16

TALKING BIZ NEWS EXCLUSIVE

CNBC media and entertainment reporter Julia Boorstin is one of the dozens of business journalists covering the biggest business news story of the week — the initial public offering of Facebook.

Boorstin joined CNBC in May 2006 as a general assignment reporter. In December 2006, Boorstin became CNBC’s media and entertainment reporter working from CNBC’s Los Angeles bureau. Boorstin covers media with a special focus on the intersection of media and technology. In addition, Boorstin reported a documentary on the future of television for the network entitled, “Stay Tuned…The Future of TV.”

She previously worked at Fortune magazine, where she was a business writer and reporter since 2000, covering a wide range of stories on everything from media companies to retail to business trends. During that time, she was also a contributor to “Street Life,” a live market wrap-up segment on CNN Headline News.

In addition to its coverage throughout the day, CNBC is running a live special on Thursday, May 17, from 1 p.m. to 2 p.m. ET titled “Facebook: The Social Offering.” It also has additional coverage on CNBC.com at facebook.cnbc.com.

Boorstin spoke with Talking Biz News by e-mail earlier this week about covering the Facebook IPO. What follows is an edited transcript.

How is covering the Facebook IPO different than other stories?\

It’s unusual to get to cover a company since its inception, and I’ve been following Facebook since soon after it was founded. I remember pitching stories on this social network that was limited to college students and having people ask about the non-existent business model and why they should care. It’s been so much fun to watch the company evolve, build out its advertising model, tackle major issues like privacy concerns, and to see Zuckerberg grow as a CEO.

How do you try to make your coverage stand out?

I try to really get inside Facebook’s strategy — why the company makes the decisions that it does about its products and advertising. When the company rolls out new products like Timeline, or ads on mobile devices, users can get frustrated and complain that the company doesn’t know what it’s doing. I try to figure out the reasons behind its decisions. Facebook has the tough challenge of keeping users happy and growing revenue at the same time. Baked into its business are some inherent challenges — how will it manage privacy concerns if the entire business is based on the importance of sharing? Can it make money from ads on mobile devices without alienating users? I always aim to tell all sides of the story — the challenges and the potential.

How competitive is the story?

It’s pretty competitive — whenever Facebook has an event, like the road show in Palo Alto, there are a half dozen cameras and reporters. But CNBC has the advantage of having been all over the story from the beginning — I was the first person to interview Mark Zuckerberg on TV. I know the personalities and the company inside out – people at Facebook and other sources seem to respect that depth of understanding.

What have been some of the reporting strategies that you have used in covering the IPO?

I try to talk to as many people as possible, and I also try to spend time on Facebook. It’s actually really valuable to attack the privacy issues and the advertising as a consumer — is it easy for me to adjust my privacy settings? Am I annoyed by the new ads?

How important has it been to have sources on Wall Street?

They’re always important, especially for a company like Facebook. It’s crucial to know how this company is perceived not just by consumers, and users of the service, but by bankers and Wall Street investors.

Do you think a reporter covering this story needs to read the S-1 and all of the amendments?

Absolutely — it’s crucial to read each of the S-1 updates — you never know where you’ll find something interesting. I find the filings fascinating. It’s such a treat to get a look inside a company I’ve been covering for so long – to finally see the numbers is a thrill! The filings are all about what users are doing and what Facebook’s risk factors are — the raw documents and numbers are so juicy! Facebook has major concerns about privacy, monetizing its mobile users — it puts them all out there. I’d say it’s not just a must-read for reporters, it’s a must-read for anyone considering investing in the company.

What have you been most proud of in CNBC’s coverage of the story?

I’ve been really proud of how we’ve all worked together, to be ahead of the story, break news, and get inside Facebook in a way that no one else has. Everyone at CNBC has really come together for team coverage — I’m consistently impressed by our open communication. A number of reporters, including Kayla Tausche and Kate Kelly, and a bunch of producers are all pouring their energy into our coverage of this huge story. It’s a thrill to be part of such a great team effort!

Why is this such an important business news story?

Not only is this a simply massive IPO, but Facebook has really changed the way people interact and companies do business. Facebook has encouraged companies to directly communicate with consumers — and (along with Twitter) has empowered consumers to have a voice by posting on companies’ Facebook pages. I think companies realize that they can’t do business without a social presence. It’s also important for investors to understand the risks involved with investing in Facebook — we don’t know how volatile the stock will be. There are many risk factors and investors should weigh them carefully.

How have the reporters at CNBC coordinated the coverage?

We’ve split everything up — my job is to cover everything company related, how the company makes money, what Zuckerberg and COO Sheryl Sandberg are doing to run the business. My colleagues back on the East Coast cover the details of the IPO and the pricing. We talk on the phone and email back and forth to make sure we’re all on the same page about everything.

Anything else you’d like to say about the story and CNBC’s coverage?

It’s been a lot of fun to cover Facebook and this is just the beginning. Once the company is public I look forward to digging into the numbers every quarter!

Category CNBC, Company coverage, Q&As |

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CNBC making advertising push

2012
05.16

CNBC is making a major pitch to advertisers for its prime time programming, which it re-branded last Fall as “CNBC Smart,” reports Alex Weprin of TVNewser.

Weprin writes, “CNBC has been pushing ‘CNBC Smart’ heavily to media buyers in the last month or so, a buyer at one of the major agencies tells TVNewser. The pitch was that the programming block features shows and personalities that ‘Celebrate the American Dream.’ Indeed, in an advertisement in Ad Age this week (see after the jump), ‘Celebrate the American Dream’ is the tagline used to describe the block. The ad features an American flag motif made of words like ‘Inventors,’ ‘Moguls,’ ‘Mavericks’ and ‘Champions.’ In the past few weeks the network ran a contest where it gave one media buyer a Smart Car, and held a party in midtown’s Aspen Social Club to drum up attention for CNBC Smart.

“For years, CNBC’s primetime served as a place for reruns of shows from CNBC, NBC and elsewhere. In the last few years however, the network found substantial ratings success with its documentary features, which profiled businesses and businessmen, as well as industries that may be established – like television – or not, like marijuana growing.

“It looks like the network is opting to take what it has built with the docs, and expand on it. It’s pitch: the influencers that watch us during the day will tune in at night to get a lighter look at the world of business.”

Read more here.

Category CNBC |

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St. Louis Biz Journal reporter dies from pancreatic cancer

2012
05.15

Rick Desloge, a reporter for the St. Louis Business Journal dating back to the 1980s, died Monday from pancreatic cancer. He was 63.

A story on the paper’s web site states, “Mr. Desloge, who had worked at the St. Louis Business Journal since 1984, was diagnosed with pancreatic cancer a year ago. He rarely missed a day during his treatment, covering his beats, writing his regular St. Louis Character feature, and doing his twice-daily Business Journal reports on KMOX radio until a month ago.

“What’s more, his office colleagues were amazed at his consistent good cheer. It seems odd to say that someone fighting such a serious illness was chipper, but chipper he often was. He could be heard at his desk talking on the phone with news source after news source, laughing, cajoling and enjoying the moment with someone he had no doubt known for years. And he had sources all over town, so there were a lot of calls to be made.

“He received his journalism degree from the University of Missouri-Columbia    and at the Business Journal reported on law, accounting, banking, advertising and public relations, media, venture capital, transportation, aerospace and defense and a host of other industries. In 2001, he wrote and published ‘Hell on Keels: The Saga of Motor Torpedo Boat Squadron 12: A Story of Wooden Boats and Iron Men.’”

Read more here.

Category American City Business Journals, Business weeklies, Obituaries |

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Reuters hires Barbash from CQ

2012
05.15

Reuters Americas editor Jim Gaines made the following announcement on Tuesday:

I am thrilled to announce that Fred Barbash, one of Washington’s best known and most distinguished journalists, will join the DC Bureau next month as Editor, Domestic Policy, reporting to Bureau Chief Mary Milliken.

Fred is currently managing editor of CQ Weekly, the magazine about Congress published by CQ Roll Call, a division of the Economist Group. Before that he was a senior editor at Politico, where he was creator and moderator of The Arena, a popular forum for debate on national policy and politics.

But Fred is best known for his work at The Washington Post, where he was a creative, aggressive and thoughtful editor and reporter — an important influence on the work of our own Marilyn Thompson and Joan Biskupic, among many others. Along the way, Fred was the Post’s National Editor, London Bureau Chief, Deputy Metro Editor (not in that order) and reporter on a variety of beats, including the Supreme Court.

Fred has always been an effective teacher in his editing roles, and from 2006 to 2008 he taught at Northwestern’s Medill School of Journalism. He is also the author of The Founding: A Dramatic Account of the Writing of the Constitution (Linden Press/Simon & Schuster), as well as numerous articles on constitutional history.

As we head toward what promises to be the most eventful lame-duck Congress in recent history, our Hill coverage will be in very capable hands.

Category Job changes, Thomson Reuters |

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Businessweek editor loves long-form journalism

2012
05.15

Joe Pompeo of Capital New York writes Tuesday about Bloomberg Businessweek editor Josh Tyrangiel, who answered questions Monday night at Housing Works Bookstore.

Pompeo writes, “‘If you look at magazines, oh, eight years ago, they demanded much longer stories because they were making more editorial pages,’ said editor-in-chief Josh Tyrangiel, by way of reply. ‘Most weeklies these days have gone down in pages.’

“But not Businessweek, whose deep-pocketed parent company didn’t flinch when Tyrangiel asked, after landing the editor gig in 2009, that the magazine be increased from 58 total pages to 66 pages of editorial alone.

“‘We just have that luxury of being able to do long stories,’ he said. ‘And as it happens, while other magazines are doing shorter stuff, The New Yorker and Businessweek and The Atlantic and others are really thriving as a place where if you’re a reader, you can go.’

“The fact that Tyrangiel works for a company whose reporters are required to fly business class on any flight longer than four hours was not lost on the guy who’d asked for Tyrangiel’s thoughts on the future of their trade.”

Read more here. Tyrangiel declined to answer as to whether Bloomberg Businessweek was profitable.

Category Bloomberg, BusinessWeek |

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WSJ stays on top with “liquid editorial”

2012
05.15

Sean Callahan of BtoB magazine writes about how The Wall Street Journal has remained the dominant business news organiztion.

Callahan writes, “But, at its heart, the Journal remains a business publication with world-class reporting. Last year the paper won a Pulitzer Prize for editorial writing, and this year it was a finalist in two categories, including in explanatory reporting for its highly praised series exploring online privacy.

“Of course, this journalism no longer appears just in print. There’s WSJ.com, the Wall Street Journal Digital Network (which includes AllThingsD, Barrons.com, Marketwatch.com and other Dow Jones & Co. sites), mobile apps and four hours of live online video programming every business day.

“The brand has also expanded its global reach. In addition to The Wall Street Journal Europe and The Wall Street Journal Asia, the brand has websites in German, Japanese and simplified Chinese.

“‘We have a lot of things to sell,’ said Michael Rooney, the Journal’s chief revenue officer. He describes the brand’s content as ‘liquid editorial’ flowing across geographies and from print to digital to in-person events, which include such conferences as D: All Things Digital and ECO:nomics.”

Read more here.

Category Wall Street Journal |

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Why JP Morgan’s losses are a win for the business press

2012
05.15

Ryan Chittum of the Columbia Journalism Review writes about how J.P. Morgan’s estimated $2 billion in losses from a bad derivative bet is good for business journalism, which knew about the issue before CEO Jamie Dimon.

Chittum writes, “And it’s a nice win for the business press, which uncovered the story (before Dimon understood its import, at least according to him), explained why it mattered, and kept on it. Dimon himself, when asked what he would have done differently, said that he should have paid more attention to the press reports.

“Those reports kicked off when Bloomberg News broke the story with a brief piece on April 5 and The Wall Street Journal posted its already-in-the-works page-one story shortly thereafter.

“I noted on April 6, Bloomberg was miffed then that the Journal didn’t credit it with the scoop. I don’t like scoop squabbles, much less adjudicating them, but the market-moving nature of this one makes it something of a different beast, and the fact that Bloomberg and the Journal are still tussling over credit shows just how big the story is.

“The Journal implied in the second paragraph of a page-one story on Friday that the scoop was its own. The Journal didn’t find out about the London Whale from Bloomberg—its story was already reported, I’m told.”

Read more here.

Category Markets coverage |

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New magazine and newspaper industry reporter starts at NYTimes

2012
05.14

Christine Haughney, a metro reporter for the New York Times, began covering the magazine and newspaper industry beat for the paper on Monday.

Haughney tweeted about the beat change on Monday. Her replacement on the transit beat is Matt Flegenheimer.

Haughney joined the Times as a staff reporter for real estate news in October 2006. In this role she covered the residential real estate beat, from women buyers in Brooklyn to penthouse purchasers in Manhattan.

Before joining the Times, Haughney was a staff reporter for the Wall Street Journal from July 2005 to October 2006, where she reported on commercial real estate finance.

From September 2003 to July 2005 she was a staff reporter for Crain’s New York Business. At the Washington Post, Haughney was a staff writer and editorial aide from May 2000 to August 2003. During that time she spent nearly two years covering the Sept. 11 attacks and their fallout.

Category Job changes, New York Times |

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Colorado biz journal being sold

2012
05.14

The owners of the Colorado Springs Independent announced Monday that they are buying the Colorado Springs Business Journal.

Andrew Wineke and Rich Laden of the Colorado Springs Gazette report, “John Weiss, publisher of the Independent and head of the Publishing Corp. of Colorado Springs that is buying the Business Journal, said the papers would remain editorially independent, although he plans to look at consolidating back-office functions such as accounting.

“‘They have very different niches,’ Weiss said. ‘We see them as two standalone products.’

“Independent CEO Fran Zankowski and executive editor Ralph Routon will divide their time between the two papers, according to a press release on the sale, and Independent columnist John Hazlehurst will also write for the Business Journal, where he had a column for several years.

“Weiss said he’s told the Dolan Co., the Minneapolis-based owner of the Business Journal, for the past four years that he was  interested in buying the Business Journal and that Dolan finally agreed to sell. Terms of the deal, which is scheduled to close June 1, were not disclosed.

“The first order of business, Weiss said, will be to build the local content and infrastructure that Dolan had provided — to ‘de-Dolanize’ the Business Journal.

Read more here.

Category Business weeklies, Dolan Media |

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