Monthly Archives: April 2012
Biz magazine lets cover story subject read article before publication
by Chris Roush
David Brauer of MinnPost.com reports that Twin Cities Business editorDale Kurschner let convicted Ponzi schemer Tom Petters — the subject of its latest cover story — read the story before publication.
Brauer writes, “Getting a sensitive source to cooperate is often a matter of flattery, diplomacy and pressure; the challenge is not to sell out in pursuit of the story. Although Kurschner wrote a full-page editor’s note detailing the six-month saga of securing Petters’ cooperation, he did not disclose to readers the unusual provision that might have been the deal-clincher.
“As Kurschner explained to me, ‘An extra and unusual step in the fact-checking process — necessitated by the extraordinary complexities of this story and difficulties communicating into prison — did not in any way affect how the story was written and presented to our readers.’
“He adds, “normally, we don’t do” pre-publication review, “but part of the issue was logistics. It’s impossible to call and talk about a 14-page story” over a jailhouse phone. “He’s charged so much for calls and has no money. He can’t just get on the phone and email people.’
“The other issue, Kurschner says, was Petters’ plans to appeal his conviction, for which he is serving 50 years with no chance of parole. Petters’ ‘hypersensitive’ lawyers advised him not to do the story; pre-review was necessary to clinch the deal.”
Read more here. Would you have allowed Petters to review the story?
Columbia names new Knight-Bagehot fellows
by Chris Roush
Ten Knight-Bagehot Fellows in economics and business journalism have been named by the Columbia University Graduate School of Journalism for the 2012-2013 academic year.
They include journalists from The Detroit News, Bloomberg Businessweek, Reuters, Agence France-Presse, CNBC-TV18 in Mumbai, Bloomberg Television and Michigan Public Radio.
The mid-career fellowships provide full tuition and a living stipend of $50,000 for experienced journalists to take graduate courses at Columbia’s Schools of Business, Law, and International and Public Affairs.
Fellows also attend special seminars at the Journalism School led by scholars and business experts during the nine-month program, which begins in August. The program is open to journalists with at least four years’ experience.
This year’s fellows are Kate Davidson, Gabriel Friedman, Lewis Krauskopf, Nandagopal Jayakumar Nair, Charlotte Raab de Miranda, Mica Rosenberg, Barrett Sheridan, Katerina Sokou, Jaclyn Trop and Rachel Wehrspann.
Read more here.
WSJ names deputy Dallas bureau chief
by Chris Roush
Leslie Eaton, the Dallas bureau chief for The Wall Street Journal, sent out the following staff promotion announcement on Monday:
We’ve got some news out of the Lone Star State:
Miguel Bustillo, a mainstay of the Texas bureau, has been named deputy bureau chief, effective immediately. Miguel joined the WSJ in 2008 after 15 years at the Los Angeles Times, where he was a national correspondent and covered state government. At the Journal, Miguel has chronicled the rise and fall of big-box stores, limned the downward spiral at Sears, and explained exactly why Best Buy is in so much trouble. Now Miguel is bringing his retailing expertise, political savvy, deft writing and calm demeanor to Dallas, where he and his family will relocate this summer from Houston. Miguel, who graduated from NYU, is the only reporter in Texas who does not own even a single pair of cowboy boots.
Stepping into his Nikes will be Shelly Banjo, whose most recent job at the Journal has been covering Connecticut for Greater New York and who was co-author of that excellent leder detailing how slow banks are to foreclose on million-dollar mansions. Shelly started with the paper as an intern in the Chicago bureau, earned her spurs covering philanthropy and personal finance, and is a fount of energy and story ideas. A native of Dallas (she does own boots), Shelly graduated from Northwestern University, and is in the process of getting her MBA from NYU’s Stern School. She will take over the big-box retailing beat May 1, working with Ann Zimmerman, and will move down to Dallas later this spring after her b-school classes end.
Meet the CNBC producer with great connections
by Chris Roush
Julia LaRoche of Business Insider profiles Maneet Ahuja, a CNBC producer known for her great connections within the hedge fund industry.
LaRoche writes, “Ahuja, 27, told Business Insider that she has been relentless in developing contacts within the industry.
“‘I think with a lot of things you have to be relentless — You don’t get a lot of sleep. You don’t take ‘no’ for an answer,’ she said explaining that it took her almost three years just to secure an off-the-record meeting with the closely followed Paulson and he still hasn’t made an appearance on ‘Squawk Box.’
“Developing her connections in the industry is also about balance, she explained.
“‘I think it’s a balance of recognizing when is too much — you don’t want to be seen as a pest. Reaching out through their PR contacts, researching which conferences the are speaking at or which foundations they are involved with — I think that’s what most journalists do they look and see where their potential subjects are scheduled to be speaking, whether it’s at the London School of Economics or on conference calls or investors or other sources that they might know — maybe an investor or friend that can lend an introduction.’
“What’s fascinating about Ahuja, a self-described ‘finance geek’ who was recently recognized as one of Forbes magazine’s ’30 Under 30′, is that she displays a natural curiosity in the hedge fund industry.
Economist reveals digital edition subscribers
by Chris Roush
Lucia Moses of Adweek writes Monday about The Economist and its digital edition subscribers.
Moses writes, “In addition to the print circulation stats that are in every magazine’s ABC Publisher’s Statement, The Economist’s CMR reveals that its digital edition averaged about 48,000 in sales for March—about 6 percent of total circulation, putting it at the high end of magazines. There were 255,000 readers. At $105 for an annual subscription, the digital edition commands a premium as the print does.
“Figures are for North America only. They refer to editions sold on the iPad, iPhone, Android and Kindle. They exclude The Economist’s replica editions that are sold on the Kindle Fire and Nook Color and Zinio subscriptions.
“‘What we wanted to do in putting it out is have some transparency,’ said Paul Rossi, managing director and evp, Americas, for The Economist. ‘No one is requiring them, but there is a lot of grumbling that [magazines] aren’t transparent and we aren’t giving them the information the agencies want.’
“Rossi shared other digital details not included in the report. He said that 70 percent of The Economist’s digital subscribers are not former print subscribers and that 20 percent of The Economist’s single copy sales are of back issues — evidence that digital platforms are expanding rather than cannibalizing the reader base.”
Read more here.
SABEW making diversity push in 2012
by Chris Roush
The Society of American Business Editors and Writers is renewing a push to broaden its diversity efforts in 2012 ahead of its 50th anniversary in Washington and the Unity conference in Las Vegas in August.
The business journalism organization held a committee meeting last week to go over initiatives that include recruiting minority candidates to join SABEW, ensuring that SABEW’s board reflects the diversity of our readership and newsrooms, and raising funds for its Five for 50 campaign for five students of color to attend SABEW conferences for the next five years, starting with its 50th anniversary conference in Washington next year.
The organization also will work with other media companies and other associations to help raise business journalism scholarships exclusively for students and young journalists. SABEW is asking major media companies such as the New York Times, Wall Street Journal, CNN, Thomson Reuters, Bloomberg, Dow Jones and newspapers to respond to these challenges.
“There’s a yawning gap between many companies’ diversity goals, and the reality you see in most newsrooms,” said Walden Siew, a New York-based editor for Reuters and chair of SABEW’s diversity committee. “SABEW too must do a better job to promote a board and membership that reflects our audience and industry.”
Pamela Yip, a personal finance columnist and former chair and current member of SABEW’s diversity committee, also said her newspaper, the Dallas Morning News, offers paid internships every summer. The paper has already picked this summer’s business news intern, but she encouraged interested students to contact her for future positions.
Ratings declines for CNBC’s Bartiromo, Sorkin
by Chris Roush
Frank DiGiacomo of the New York Daily News writes Sunday about how CNBC executives are worried about ratings declines for two of its star anchors — Andrew Ross Sorkin and Maria Bartiromo.
DiGiacomo writes, “According to Nielsen ratings obtained by Gatecrasher, from April 2011 to April 2012, ‘Squawk Box’ is down 16 percent in total viewers and 29 percent in the important 25-54 demographic bracket that advertisers buy.
“On Tuesday, the show drew its lowest numbers of the year in total viewers — 99,000.
“The source noted that the business-for-breakfast show is in its third straight quarter of ratings decline, and added the drop coincides with the addition of vaunted New York Times Dealbook editor and ‘Too Big to Fail’ author Sorkin, 35, who started with ‘Squawk Box’ on July 18.
“Although one source familiar with the situation tells us ‘Sorkin is working his tail off at the show,’ another insider says, ‘There’s a lot of talk that Andrew is not bringing them what they thought he was going to bring them: ratings and buzz. He’s not bringing them scoops.’
“The source adds that CNBC is ‘up in the air about what to do with Sorkin,’ but notes, ‘They’re coming to the conclusion that he makes a better guest than host.’”
New biz reporter asks for advice from biz community
by Chris Roush
Brittany Hoover, the new business reporter at the Lubbock Avalanche-Journal in Texas, asks her readers for advice on what they want to see in terms of business coverage.
Hoover writes, “Please share with me the types of stories you would like to see more of, as well as the business professionals you’d like to know more about. Who do you consider the movers and shakers in Lubbock?
“What local establishment has a story that needs to be told?
“Visit lubbockonline.com and comment on my column, or send me an email at brittany.hoover@lubbockonline.com.
“Let me know about your events. I can’t promise to be at every function in town — business is thriving in Lubbock — but I’ll do my best.
“Now, after asking my questions, I’ll answer some you may have about this new face on the business cover.
“I’ve spent the last six months covering higher education and health for The A-J. Before that, I was a general assignments reporter for The Pine Bluff Commercial in Arkansas.”
Read more here.
Lunch with the FT celebrates 18 years
by Chris Roush
Matthew Engel of the Financial Times writes about its popular “Lunch with” series, which interviews business men and women, as well as others, during a meal.
Engel writes, “Obviously if the paper wishes to interview the world’s movers and shakers, it has to do so largely on their terms. If the serving US secretary of defence says he will share coffee at the Pentagon, it is difficult to argue (especially as it was Donald Rumsfeld). And, naturally, cost-control is a corporate objective.
“But there is a purpose in building the series round lunch, and the editor, Lionel Barber, wants to maintain that tradition. ‘Lunch,’ he says, ‘should be done with panache but not indulgence.’ He defines that as ‘excellent food but not vintage wine.’
“A kind of nadir was reached when the self-promoting head of Ryanair insisted on using his office as a venue and treating our then aerospace correspondent, Pilita Clark, like one of his passengers: ‘ ‘Here,’ says Michael O’Leary, shoving something the size of a small grapefruit wrapped in red and white cardboard over the table. ‘Lunch.’ ‘ Yet it made for a revealing encounter. And in 2010 Alec Russell flew out to meet Morgan Tsvangirai, the Zimbabwean prime minister. The menu read as follows: ‘Coke: US$1; Sprite: US$1; Return flight to Harare: £950.’ Interview: priceless.
“Sometimes the free lunches can be the most spectacular. Conductor Sir Simon Rattle cooked shoulder of lamb; American TV host Jay Leno barbecued steaks in his garage (or hangar – it held his 130-strong collection of classic cars). Best of all, the grand dame of American cookery Julia Child, then 85, allowed Victoria Griffith to cook for her – ‘Steak and couscous,’ said Child charmingly, ‘the perfect combination.’”
Read more here.
Minneapolis paper looking for new biz columnist
by Chris Roush
Nancy Barnes, the editor of the Minneapolis Star-Tribune, writes Sunday about how the paper’s business columnist Eric Wieffering is taking on a new job in the newsroom, causing her to search for a new columnist for the business desk.
“Wieffering has delivered provocative, thoughtful and knowledgeable columns for the business section, making him a must-read for the business community.
“That’s exactly what we asked of him when he returned to the paper in the fall of 2010, after a brief sojourn to the business world. Every columnist, whatever the specialty, has a unique style and voice, so I won’t promise readers that we will replace Wieffering’s column per se.
“But we will find another smart, thoughtful writer who understands business and who will make his or her own mark on the business page. That search is underway, and I hope to have someone new to introduce to you before long.”
Read more here.