Tag Archives: Agate changes
According to an article in this morning’s Boston Herald, the Boston Globe is set to be visited by Arthur Sulzberger, the CEO of parent company New York Times Co., amid concerns that the paper is up for some job cuts and other changes. Among those changes would be an elimination or a reduction in the stock listings.
Herald economics reporter Jay Fitzgerald writes, “Meanwhile, it is contemplating eliminating or reducing its business section stock pages, among other moves.”
The move would not be a surprise. The Times will cut its stock listings beginning with the April 4 paper, it announced last week. Papers also state that most readers now get their stock information on the Internet. And plenty of other metropolitan newspapers, including the Chicago Tribune, Los Angeles Times, Atlanta Constitution and Newsday, have cut stock listings in the past few months.
The motive behind such moves is to save on newsprint costs. Some newspapers have replaced the stock listings with editorial content, but most have just reduced the size of the business section, which is bad news for the biz journalism profession.
The Jackson Citizen Patriot in Michigan announced in its Sunday paper that it is cutting its Sunday stock listings. The paper conducted a survey of its readers and found out some interesting information.
Business editor Sara Scott writes, “Last summer, the Citizen Patriot conducted a readership survey that indicated many readers wanted more in-depth coverage of business issues and the local economy.
“The survey also showed only 9 percent of readers regularly use the Sunday stock listings.
“We assume many of our readers already get their stock and mutual fund information on the Internet. We offer stock and mutual fund listings on our Web site at www.mlive.com. You can access the information by clicking on “stocks” and then typing in the name of the stock or mutual fund you’re interested in.
“However, we will also continue publishing the stocks requested by our readers. Let us know which listings you would like to see the Citizen Patriot continue publishing.”
The paper says it will begin offering an expanded six-page Sunday business section instead. Read about it here.
It’s been the bigger papers such as the New York Times, Chicago Tribune, Los Angeles Times and Atlanta Constitution that have been announcing that they’re cutting stock listings so far this year. The smaller papers, with a few exceptions such as the Asbury Park Press, have not been following this trend.
Andrew Cassel, who writes a column about the economy for the Philadelphia Inquirer, writes Wednesday about the turbulent history of newspapers in the wake of Knight-Ridder’s announced sale on Monday. Cassel notes that newspapers have faced dramatic competitive issues in the past 20 years, and that stock listings are one of the things being evaluated.
Cassel writes, “Twenty years ago, stock listings were a reason many people bought a newspaper in the first place. We were the only source of up-to-date stock prices when up-to-date meant yesterday’s close. The costs – newsprint, labor, a data feed from Wall Street – were all worth it because they gave us a competitive advantage.
“Today that advantage is gone. Online stock tickers display prices nanoseconds old, and dozens of services let you track and chart your investments in depth, for free. Fewer and fewer investors have any use for the tiny type on our pages.
“Yet we still print them, spending buckets of money that arguably might be better invested elsewhere in the paper. Why? Because we worry about removing something that a core group of our readers might still want.
“But maybe not for much longer.
“Buried under the big stories about Knight Ridder’s breakup this week, there was another newspaper-industry story: The New York Times is eliminating its daily stock tables, following papers in Los Angeles, Chicago and elsewhere that have cut back.
“The Inquirer hasn’t decided to join them yet. But the question is out there.
“Welcome, dear readers, to our uncertain future.”
Read the rest of his column here. I don’t agree with Cassel, but I think he makes an excellent argument for why newspapers are getting rid of stock listings.
However, I think stock listings still have an important place in newspaper business sections. Call me old fashioned.
As expected in a post on this blog yesterday, the country’s most prestigious newspaper expects to cut its daily stock listings next month as a way to trim newsprint expenses and will offer a new package of interactive tools and market information on its Web site for investors who want the information.
Other newspapers that have severely cut stock listings so far this year include the Chicago Tribune, Newsday, Rocky Mountain News, Orlando Sentinel, Atlanta Journal-Constitution and Providence Journal.
The Times’ article in this morning’s paper said, “The Times will replace the tables in the newspaper with two pages of market and economic information, including performance listings of the top 100 stocks in the Standard & Poor’s 500-stock index, market analysis, mutual fund information, charts tracking individual company performance and lists of foreign currency exchange rates.
“The newspaper said that the features to be added to its Web site would include investment tools, breaking financial news and individual portfolio information.
“Readers will also be able to expand their personal portfolios online and create customized stock searches that allow them to receive free e-mail messages on stock changes or company news, the newspaper said.
“The expanded information on the Web site, nytimes.com, will also include a multipart interactive graphic, the company said.”
“The complete financial tables will continue to appear in the Sunday issue of the paper.”
The New York Times is said to be considering a dramatic cut of its stock listings on the business section on Monday through Friday in exchange for some sort of Web system that provides stock prices, according to this post.
The change will likely occur on April 1, which is not an April Fool’s joke. The paper would be the largest to cut stock listings this year. Other major papers to cut stock listings include the Atlanta Journal-Constitution, Chicago Tribune, Newsday, Orlando Sentinel, Rocky Mountain News and Providence Journal.
The Deadline Hollywood Daily states, “In the paper will be a very limited 1 1/2 pages, trimming those thousands of stock tables to just hundreds. Plans are being finalized what to do on the weekends. Newspaper industry sources tell me that this could represent a $10 million savings to the NYT in newsprint costs and editorial space: “The way for papers to save money short of getting rid of people is to get rid of stock pages.” For years, the nationâ€™s 900+ newspapers have run the APâ€™s stock tables, so the trend is going to hurt non-profit APâ€™s revenues.”
The Bloomington Pantagraph, a newspaper in Illinois, announced that it was cutting its Sunday stock listings in its business section. Additional pages will be added to the life section.
The paper said, “Why?
– People get their stock information from the Internet, which allows them to immediately stay on top of their investments.
– The weekly stock wrap-up in Sunday’s paper is two days old by the time you see it.
“If you’re used to checking your stocks in the paper, and have a computer, you can go to pantagraph.com and find your stocks.”
Read the announcement here. Scroll down to the bottom and you see a reader complaining about the “dumbing down of the paper.”
The Los Angeles Times announced in Tuesday morning’s newspaper that it would cut its stock and mutual fund listings to one page beginning next week and begin a series of features to improve coverage of Southern California’s diverse economy.
The paper joins the Chicago Tribune, Rocky Mountain News, Atlanta Constitution, Orlando Sentinel, Newsday, Providence Journal and others that have announced this year that stock listings will be cut to save on newspring costs.
The paper said, “The page will include a listing of each day’s 1,300 most heavily traded stocks and an expanded list of publicly traded companies based in Southern California.”
As for the new coverage, the paper said, “On Wednesdays, the section will emphasize small business, the backbone of Southern California’s economy. The package will be anchored by a column from small-business expert Cyndia Zwahlen and a question-and-answer feature by Karen E. Klein, a nationally known columnist.
“On Saturdays, the section will provide expanded coverage of international business, with a focus on Southern California’s place at the center of global trade. The package will include a new column on business travel by former corporate globe-trotter James Gilden.
“The Sunday Business section will add regular reviews of books on business, finance and management. The Technopolis column by David Colker will move to Thursdays.”
Read the announcement here.
The Orange County Register, the largest newspaper in the Freedom Communications chain, said that it will cut its stock listings beginning March 28 and use the space to provide a themed coverage each day of the week.
The paper said, “We’ll designate a day each week to explore each of the core issues that define our marketplace:
Sunday: Real Estate
Monday Business: Workplace, Careers, Small Business
Wednesday: Growth and Building
Thursday: Health and Biotech
Friday: Shops and Restaurants
Saturday: Your Money
“To make room for this expanded coverage, the Register is planning to trim the stock and fund tables. Starting March 28, we will convert one of the three stock pages into the new theme page.
“For those who still rely on the Register for stock quotes, we will continue to provide full listings each Saturday. You will also get a chance, later this month, to send us your stock and mutual-fund requests so that we can try to avoid cutting the ones you care most about.
“In the coming weeks, we’ll be providing more details about the coming changes both here on our Web site and on the cover of the business section in the print editions.”
Read about the changes here.
The El Paso Times announced in the Sunday paper that it was cutting its weekday stock listings beginning next month, but that the Saturday stock listings were still up for debate.
The paper said, “The El Paso Times will reduce the size of its daily stock listings beginning April 4.
“The revised daily stock listings will include stocks of local interest from the New York, Nasdaq and American stock exchanges. Mutual fund listings will be eliminated. Because of the space gained from the reduction of stocks, readers will enjoy more complete business coverage, including more regional, national and international news.
“Still under consideration is the extent of weekend stock listings, which will be published on Saturday.”
Read the announcement here.
The paper says that it will continue to publish about 1,140 stock listings and 190 mutual funds Tuesday through Friday. On Saturday, it will publish about 3,550 stocks and 1,950 mutual funds.
It also notes the emerging trend for business sections to cut stock listings: “Newspapers across the country are taking similar steps with stock listings. The Chicago Tribune, The New York Times, the Baltimore Sun, the Newark (N.J.) Ledger, the St. Louis Post-Dispatch, the Kansas City Star and the Bergen Record â€” among others â€” have implemented or are developing plans for streamlining stock listings.”
The Rockford paper says nothing about rising newsprint costs for its reasoning. What it says is that more people are getting their stock prices from the Internet, and that the financial information on its Web site remains unchanged.