They Talk Biz News

Jonnelle Marte

WaPo hires Marte from Marketwatch

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Washington Post business editor Greg Schneider and Sunday business editor Kelly Johnson sent out the following announcement on Thursday:

We’re delighted to announce that Jonnelle Marte will join the Financial staff to create and run a new blog on wealth and retirement. Jonnelle comes to us from MarketWatch, where she is the lead writer for the tax blog and writes often about the economy and the impact of the health care law on employers and consumers. Before MarketWatch, Jonnelle wrote for the Wall Street Journal Sunday, often on employment and consumer trends, and held internships at the Boston Globe, Detroit News and Miami Herald.

She graduated in 2008 from Florida International University, double-majoring in chemistry and political science. Jonnelle is a policy junkie who excels at writing for the ordinary consumer, from testing out the fastest way to send money electronically (Square Cash, hands down) to spelling out “10 things Social Security won’t tell you” (such as the way it penalizes dual-earning households). As one of her former editors said, “It’s hard to find people who get excited about taxes, bonds, policy, economics… But Jonnelle does!”

We can vouch for that — Jonnelle wrote two great memos about how to set up the new blog before we could even ask for them. She’ll work closely with Kelly Johnson and help develop personal finance features for Sunday Business. Jonnelle starts May 5, and the new blog will follow soon after.

Danielle Paquette

WaPo hires Paquette for biz news desk

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Washington Post business editor Greg Schneider made the following announcement on Thursday:

We’re excited to announce that Danielle Paquette is joining the Financial staff as part of the new data/storytelling venture. Danielle is a rising star in narrative journalism. She graduated from Indiana University with a degree in journalism, and while there she took top honors from the Hearst National Writing Competition in 2011 and was named student journalist of the year for 2012 by the Indiana SPJ. She worked for the Tampa Bay Times for a year after college and has most recently been a staff writer for L.A. Weekly.

Danielle is a natural storyteller with a strong instinct for narrative and an eye for detail. On the cops beat in St. Petersburg, she would make an ordinary domestic shooting incident read like a scene from a crime novel. Then she would follow up weeks later and tell the story of the victim, the relationship gone bad, the road to recovery. She found the emergency responder who fell in love with the stabbing victim, the porn starlet who just wanted a farm in New Hampshire and, in a piece that helped her win the national collegiate award, the street preacher’s teenage daughter who faced down her peers.

We were impressed by Danielle’s writing and won over by her drive and enthusiasm, and we expect her to play a key role in making the data/storytelling project a must-read every day. Please join us in welcoming her when she starts May 5.

WSJD personal tech

WSJ names Austin its deputy tech editor

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Wall Street Journal technology editor Jonathan Krim sent out the following announcement on Thursday:

I’m happy to announce that Scott Austin will be moving his considerable talents from New York to San Francisco, where he will join Team Tech as a  deputy technology editor.

In this role, he will direct a team of reporters focused on innovation, startups, early-stage funding, the ‘Net-ization of legacy things and more. He’ll also coordinate closely with the VentureWire team to maximize our combined resources.

Scott is uniquely suited for this role, having joined Dow Jones in 2000 as a spot-news wires reporter covering, among other things, IPOs that were going poof as the tech nuclear winter set in.

From 2006-2011 he managed the aforementioned VentureWire, while also writing a venture capital column for MarketWatch and a venture funding column for the Journal. Since 2011, he’s been tech editor on the Corporate/Marketplace desk, editing and driving stories and packages including the widely shared WSJ Wireless Calculator and the Billion-Dollar Startup Club.

A native of Dallas, Scott grew up an avid baseball fan, and played high school ball against the likes of future major leaguers Kerry Wood and Vernon Wells. Not being possessed of a 98-mph fastball, he went into journalism at the University of Texas at Austin. He interned at Texas Monthly magazine and ESPN The Magazine.

You can follow Scott, who is secretly addicted to “Shark Tank,” the TV show featuring would-be entrepreneurs pitching ideas, @ScottMAustin.

CNBC 2004

A montage of 25 years of business coverage on CNBC

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CNBC has posted a video that is a montage of some of its highlights — and lowlights — of the past 25 years of its business and financial news coverage.

The video clip includes appearances by exercise guru Richard SImmons, comedian Will Ferrell and Los Angeles Laker Kobe Bryant

FT logo

FT creates editorial complaints position

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The Financial Times is creating the position of “editorial complaints commissioner” to address issues with its coverage.

An editorial states, “The FT has been a longstanding member of the Press Complaints Commission, which is due to expire shortly. Readers will therefore no longer have recourse to the PCC as an independent service for dealing with complaints. In its place, we will set up a new mechanism to handle reader complaints in the event that they feel our internal procedures fail to provide an adequate response or redress.

“Two points are relevant here. First, our record at the PCC in recent years shows that in the overwhelming majority of cases the FT has been exonerated from criticism. Second, the FT is always willing to deal with complaints expeditiously and, if warranted, publish a clarification, correction or apology.

“Nevertheless, we recognise that we need to provide additional reassurances in the post-PCC world. We will therefore be creating a new position of editorial complaints commissioner. The remit and reporting line will be set out in a public advertisement in due course. The successful candidate will be appointed by a three-person committee and will be independent of the editor.

“In addition, the FT will continue to provide platforms for readers to comment on articles and participate in discussion with our reporters and commentators. We believe our conversation with readers around the world is important. Understanding what they need and value is vital to our success as a news organisation.”

Read more here.

CNBC old logo

CNBC celebrates 25th anniversary

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CNBC anchor Bob Pisani writes about the business news network on the 25th anniversary of its launch, which was April 17, 1989.

Pisani writes, “A few months later, we survived our first big test: The purchase of our rival, FNN, in May 1991 for $154 million against a Westinghouse-Dow Jones consortium. That’s when we got three key players: Bill Griffeth, Ron Insana and Joe Kernen.

“And with guys like that–along with Sue Herera (who had already come over from FNN), David Faber, Mark Haines and, in 1995, Maria Bartiromo, we rode the Great Bull Market of 1982-2000 all the way to the top.

“It was a slow start. For the first five years, we had no ratings. I used to sneak into Peter Sturtevant’s office to see the ratings (they came–by fax–at 4 p.m. ET). Nothing. Hash marks.

“But it started changing in 1995 and into 1996. We started getting ratings. And as the volume at the NYSE and the NASDAQ began to climb, so did our ratings. It was almost a perfect match: Higher volume, higher ratings. Stock trading and us.

“It wasn’t just because of the excitement in stocks. We helped create that excitement. Before CNBC, Wall Street was a pretty opaque place. Stock brokers called clients and pitched stock-buying ideas. If you were lucky, if you were a big enough client, you got an analyst report.”

Read more here.

Brent Lang

Lang joins Variety from The Wrap

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Entertainment journalist Brent Lang has joined Variety as a senior film and media reporter in New York to cover all aspects of the movie business as well as other media, breaking news stories and writing features for Variety.com and the weekly magazine.

A story on Variety states, “Lang will report to Claudia Eller, Editor-in-Chief, Film, and will work closely with Variety’s team of reporters worldwide. Lang, who maintains strong relationships with top executives and talent throughout the Hollywood community and financial sources on Wall Street, will also contribute to Variety.com’s video interviews and appear on major news outlets to discuss industry issues.

“‘I have been an avid fan of Brent’s work for some time and am thrilled that he will be joining us,’ said Eller. ‘Brent brings a deep knowledge of the movie business and keen analysis to all of the stories he produces.’

“For the past 4½ years, Lang worked as a senior reporter at TheWrap.com, covering film, television, theater and other aspects of media.

“At TheWrap, he broke stories on the collapse of Oscar-winning visual-effects studio Rhythm & Hues; the true cost of the ‘Twilight’ franchise; tensions between Hollywood studios and Chinese film authorities; and the process that major studios undergo before greenlighting movies.”

Read more here.

New-Business-Model

A new model for business journalism

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Paul Glader, a journalist and King’s College professor, writes about how business news organizations should change how they cover issues, people and companies.

Glader writes, “Leading in the new era of business journalism means  re-evaluating the aftershock-focused model of how business newspapers and magazine cover issues, people and companies. It means, as a news organization, to turn on the headlights rather than to rely on the rearview mirror. It also means creating new models of collaboration and conversation within a newsroom. Hagerty writes:

    “One weakness in the WSJ coverage, I think, was that the housing/mortgage markets and the Wall Street bond market were covered by different groups of reporters. That meant we didn’t write as much as we should have about the incredible and very risky growth of the Wall Street mortgage securities market in the years leading up to the crisis. Wall Street investment banks were not only underwriting rapidly rising amounts of mortgage securities and inventing complicated new types of mortgage investments; they also were moving into the business of making home loans to consumers via brokers. We wrote about this trend from time to time, but we weren’t sufficiently focused on that angle.”

I wrote back to Hagerty saying, “You make a strong case for collaboration between groups of reporters. Has the WSJ figured out ways to do this better now? Or is it impossible?”

Hagerty: In general, I think WSJ reporters are pretty good at collaborating. Editors need to look out for opportunities to encourage even more of that. Too often editors only get galvanized once there is a crisis.

Read more here.

Stephanie Ruhle

Bloomberg TV’s Ruhle: Why I called foul on investment manager

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Bloomberg Television anchor Stephanie Ruhle posted a response Wednesday on Daily Beast/Women in the World to an interview yesterday with prominent investment manager Cliff Asness, who said on live TV, “You’re giving me that look that I get when I talk to women about quant stuff.”

Ruhle wrote:

By saying “quant,” the implication was that I was ill equipped to follow Cliff’s sophisticated (quantitative) market analysis because of my gender. Now Cliff is one of the smartest investors in the world. The truth is that he outpaces people of all sexes, creeds, and colors when it comes to numbers. But he had singled me out—the woman sitting across from him on live TV—for a bit of gentle ridicule.

This kind of thing happens a lot to women at work. Usually it’s just a clumsy riff on old ideas of what’s gender-appropriate. If you believe that in 2014 men are still consciously fighting to keep a grip on their hegemony, then I suppose you could hear these kinds of comments and focus on the damage they do. They might make you angry, and that’s valid.

I happen to know Cliff, and the truth is he just made a dumb joke at a moment when his mouth and brain weren’t connecting. Which means the relevant issue isn’t the damage done, but the proper response. For me, in the moment, it was to stop the interview and call him out, with as much humor as possible, for a comment even the most ancient chauvinist knows is out of date. And to his credit, Cliff apologized and blushed and made all the proper gestures and noises a moral person should make when they’ve done something stupid. In the end, we both laughed.

Read more here.

Chris Hamby

Labor/environmental reporter Hamby to join BuzzFeed

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Labor and environmental reporter Chris Hamby, who earlier this week won a Pulitzer Prize for the Center for Public Integrity, is leaving that organization to join the investigative team at BuzzFeed.

Johana Bhulyan of Capital New York writes, “Hamby, who will be based in Washington D.C., is otherwise in the news today as C.P.I. engages in a public argument with ABC News over credit for the Pulitzer, awarded to a three-part, 25,000-word series on coal miners who were deprived of benefits for the treatment of deadly black lung disease. The third part of the series involved a collaboration with ABC News that resulted in a ‘Nightline’ segment. (Pulitzers are typically only awarded to work in print and text-based work.)

“The project, ‘Breathless and Burdened: Dying from Black Lung, Buried by Law and Medicine,’ was an intersection of Hamby’s beats as a C.P.I. staff writer: environment and labor. But Buzzfeed editor in chief Ben Smith doesn’t expect Hamby to continue covering those specific topics for the site.

“’[Environment and labor] are certainly places he has really deep roots,’ Smith told Capital. ‘He spent the last year covering the [coal miners], but his style is to dig very, very deep into a specific thing. We’re excited to see what his next thing is.’

“Smith said he has been an admirer of Hamby’s work for quite a while, calling his series on mining ‘unbelievable.’ ‘It’s the best reporting I’ve seen in my life,’ Smith said.

“Hamby, who previously worked for the National Institute for Computer-Assisted Reporting, was approached by Schoofs about working for Buzzfeed a few months ago and the two began serious talks in mid-March.”

Read more here.