Tag Archives: BusinessWeek
by Chris Roush
Bloomberg Businessweek is seeking a Junior Online Reporter Consultant for its Business Schools vertical. The reporter will cover a wide range of issues relevant to prospective MBAs, business school students and b-school alumni. They will also write content to accompany the annual business school rankings packages.
Beyond the relevant professional experience, our ideal candidate will have grand ambition for our BSchools franchise and bring the voice, energy and vision needed to build on our strong history and foundation.
- Applicants should have 1-2 years of experience, a track record of very clean copy and above average reporting skills, and a unique voice.
- The ideal candidate will thrive in fast-paced environments; be comfortable producing a high volume of short but well-written blog dispatches daily while working on longer enterprise pieces at the same time.- Blogging experience and digital/multimedia fluency are ideal.
- An aptitude for jumping wholeheartedly into a new beat also works.
To apply, go here.
by Liz Hester
This week’s edition of Bloomberg Businessweek rolled out with six different covers each featuring a low-paid worker in a story about raising the minimum wage.
Peter Coy wrote the story:
Raising the minimum wage is certain to be a wedge issue for Democrats in the midterm elections because it’s the rare redistributive measure that enjoys broad popular support. A Washington Post-ABC News poll in December found that two-thirds of Americans support a minimum wage increase. But to opponents, it smacks of Big Government heavy-handedness. That explains why politicians on both sides are loudly reminding their constituents of their ideologies. The back and forth, however, fails to address the real issues: What’s the right minimum wage? And what’s the fairest way for the world’s largest economy—historically a beacon of social mobility—to arrive at it?
The first question is a bit easier to answer. The original minimum wage, 25¢ an hour, was born in 1938 under similar conditions of economic hardship and class resentment. Labor Secretary Frances Perkins and President Franklin Roosevelt had fought for it for five years. The night before signing the Fair Labor Standards Act, in a radio fireside chat, Roosevelt said, “Do not let any calamity-howling executive with an income of $1,000 a day … tell you … that a wage of $11 a week is going to have a disastrous effect on all American industry.”
Coy goes on to talk about the argument against government setting pricing standards and why some free-market advocates dislike the interference. He then examines research debunking the notion that raising wages contributes to higher unemployment.
The Card-Krueger study touched off an econometric arms race as labor economists on opposite sides of the argument topped one another with increasingly sophisticated analyses. The net result has been to soften the economics profession’s traditional skepticism about minimum wages. If there are negative effects on total employment, the most recent studies show, they appear to be small. Higher wages reduce turnover by increasing job satisfaction, so at any given moment there are fewer unfilled openings. Within reasonable ranges of a minimum wage, the churn-reducing effect seems to offset whatever staff reductions occur because of higher labor costs. Also, some businesses manage to pass along the costs to customers without harming sales.
Writing for the Huffington Post, Jillian Berman’s headline said the story makes “a terrific argument for raising the minimum wage”:
The magazine made six covers featuring low-wage workers. Each person is seen holding up an answer to one of the following questions: “What is your biggest financial fear?” “What do you think you should earn?” and “What do you do?”
“I’m a cashier. I make people smile,” one sign reads. “I worry that the more time I spend working, the less time I have raising my children,” another one states.
The story accompanying the cover delves into how different stake-holders make the economic case for raising the minimum wage or keeping it the same (the federal minimum wage is a measly $7.25). Democratic lawmakers have proposed raising the minimum wage to $10.10 an hour (with President Obama’s backing), but the provision is stalled in Congress.
The affects of a minimum wage increase on the economy is one of the most hotly debated issues in economic research. Conservatives argue that a boost in the minimum wage would actually be worse for workers because it would make businesses more hesitant to hire. Six hundred economists, including seven nobel laureates, signed a letter last month backing a $10.10 minimum wage. The letter states that the “weight of evidence” shows that “increases in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during times of weakness in the labor market.”
The timing of the story coincides with President Obama signing an executive order to raise the rate, Elena Schneider reported in the New York Times:
President Obama signed an executive order on Wednesday to raise the minimum wage to $10.10 an hour from $7.25 an hour for federal contract workers starting in 2015, a promise he made in his State of the Union address last month.
“We are a nation that believes in rewarding honest work with honest wages,” Mr. Obama said Wednesday in a letter announcing the move. “And America deserves a raise.”
As Coy points out, the debate is one of economics, and also politics and elections. There are many sides and special interests that get factored into the discussion and decisions, but people need to make more money to survive. And that’s what the president is saying by issuing his executive order. The Bloomberg Businessweek piece is a comprehensive look at the politics and debate over the minimum wage and worth the read.
by Chris Roush
Lewis Dvorkin, the chief product officer at Forbes Media, writes about how business news media are attempting to increase their digital audience.
Dvorkin writes,”I saw the numbers in the chart below (November 2013) for the first time a few weeks ago when comScore came in to tell us about its multi-platform reporting capabilities. The light blue bars represent mobile-only domestic unique monthly visitors. The darker blue bars, desktop-only domestic unique monthly visitors.
“comScore says it’s still working on similar international numbers. comScore currently puts our international unique monthly visitors (presumably all desktop) at about 10 million, bringing the Forbes.com worldwide audience to about 36 million. (Note: comScore’s just-released December report increased our mobile-only number to 12.4 million; the Bloomberg-labeled bar includes both Bloomberg.com and BusinessWeek.com).”
Read more here.
by Chris Roush
Bloomberg Businessweek has hired Francesca Levy, a senior editor at LinkedIn, to lead its coverage of business schools, reports John Byrne of PoetsandQuants.com.
Byrne writes, “Levy joined the magazine today (Jan. 27) and succeeds Louis Lavelle who abruptly left BusinessWeek in early November.
“For Levy, who has worked for Forbes and Associated Press, her new position is in one sense a return trip. As a reporting intern at BusinessWeek during the summer of 20008, she wrote features for BusinessWeek.com’s business school channel. She also produced slideshows, appeared in video interviews, and managed web forums.
“‘I’m charged with refreshing the coverage, which should be a challenge and a thrill,’ she says.
“Levy had been with LinkedIn for a little more than two years, serving as a senior editor for all aspect of content on the site, including LinkedIn’s Influencer program and its customer professional news website, LinkedIn Today. In that role, she edited original work from contributors, curated news and wrote regular posts. She also managed monthly feature content packages.”
Read more here. In addition, Bloomberg Businessweek also has made the following hire and appointment:
Jonathan Rodkin has been named rankings and research coordinator. He is responsible for redeveloping Bloomberg Businessweek’s rankings of MBA, Undergrad, Executive Education, EMBA, and Part-Time programs. After conducting interviews with key rankings stakeholders – including b-school students, alumni, administrators, faculty, and employers – Rodkin will focus on how to make the rankings more useful, comprehensive, and relevant.
Rodkin has a background in quantitative research design and survey analysis and was previously with the Strength in Numbers Consulting Group, a research and evaluation firm based in Brooklyn.
Ira Sager is the new business school commentary editor. Already a longtime member of the Businessweek.com team, he is now responsible for soliciting commentary and outside contributions for the B-Schools channel and will serve as the dedicated producer for the channel.
by Chris Roush
Joe Pompeo of Capital New York writes Friday about Bloomberg executive Justin Smith, and whether Bloomberg Businessweek could see a decline in the number of issues it publishes each year.
Pompeo writes, “Sources with knowledge of the matter said that Smith and Bloomberg Businessweek editor Josh Tyrangiel have indeed had discussions about what sorts of things they might do differently with the magazine, but that there are no plans to scale it back from being a weekly.
“Tyrangiel, who’s been on a semi-hiatus from the magazine while temporarily assisting Smith with a revamp of the company’s TV strategy, declined to comment. Smith told Capital through a spokesman that there are 49 issues slated for Bloomberg Businessweek in 2014.
“Bloomberg Media—which also includes bloomberg.com, online home of the flagship financial wire Bloomberg News; the online opinion offering Bloomberg View; and two other print magazines: Bloomberg Markets and Bloomberg Pursuits—is ‘going through an extensive strategy review process, and it’s ongoing,’ said Smith. ‘Quality print resonates with readers and we remain totally committed to the medium including the weekly publication of Bloomberg Businessweek.’”
Read more here.
by Chris Roush
Business magazines brought in fewer ad dollars in 2013 compared to the previous year, underperforming in an industry saw a slight increase in advertising revenue.
The 14 business magazines reported ad revenue of $1.33 billion in 2013, down 4.8 percent from 2012, according to data from the Publishers Information Bureau analyzed by Talking Biz news. In comparison, the consumer magazine industry reported a 1.1 percent increase in 2013.
In terms of ad pages, the business magazines reported a 9.0 percent decline to 13288.80 pages in 2013, while the overall magazine industry reported a 9.0 percent decline.
The business magazine comparison includes the 2012 data from Smart Money, a Dow Jones & Co. personal finance magazine that stopped print publication that year. Excluding the Smart Money numbers in the comparison, business magazines still underperformed the industry, with a 3.1 percent drop in ad revenue and a 5.8 percent drop in ad pages in 2013.
The best-performing title among the business magazines was Bloomberg Markets, which reported a 14.7 percent increase in ad revenue to $38.3 million, and an 11.1 percent increase in ad pages to 774.26
Another strong performer was Barron’s, which reported a 9.9 percent increase in ad revenue to $67.4 million and a 6.4 percent increase in ad pages to 1,269.4.
The worst-performing was Black Enterprise, which reported a 38.6 percent decline in ad revenue to $15.8 million in 2013 and a 38.2 percent drop in ad pages to 338.38.
Among the big three business magazines, Fortune performed the best. It posted a 2.4 percent rise in ad revenue to $213.5 million and a 3.8 percent decline in ad pages to 1,408.77.
Forbes remained the top business magazine in terms of ad revenue and ad pages, but it saw declines in both. Its print ad revenue fell 5.3 percent to $260.4 million, while its print ad pages fell 10.4 percent to 1,644.24.
Bloomberg Businessweek reported a 9.5 percent drop in print ad revenue to $200.7 million and a 12.4 percent decline in ad pages to 1,306.26.
See all of the data here.
by Chris Roush
Bloomberg Businessweek reporter Brad Stone won the Financial Times and Goldman Sachs Business Book of the Year Award 2013 for “The Everything Store: Jeff Bezos and the Age of Amazon.”
The book is the definitive story of Amazon.com, one of the most successful companies in the world, and of its driven, brilliant founder, Jeff Bezos.
The award, which recognizes the book that provides “the most compelling and enjoyable insight into modern business issues,” was presented Monday evening to Stone in London by Lionel Barber, editor of the Financial Times and chair of the panel of judges, and Lloyd C. Blankfein, chairman and chief executive officer, The Goldman Sachs Group.
Stone won a £30,000 prize (about $48,297 as of today’s currency conversion rate). Each of the five runners-up received a check for £10,000 (about $16,099 as of today’s currency conversion rate).
“This is an inspirational business book which captures the culture of Amazon and the character of its founder Jeff Bezos,” said Barber in a statement. “A must-read for disrupters around the world.”
by Chris Roush
The largest issue of Businessweek since 1999 is on newsstands on Friday.
It’s also the largest issue since Bloomberg purchased the magazine in 2009. At 212 pages, with more than 111 pages of ads, Bloomberg Businessweek’s “The Year Ahead: 2014” is a special, perfect-bound issue that is part of Bloomberg L.P.’s new global media franchise “The Year Ahead.”
Forty-five percent of the advertisers in the Nov. 18 issue are also new to the magazine.
The issue examines the major trends, disruptions, breakthrough products, innovations, and revolutions of the coming year. There’s analysis from Bloomberg writers as well as interviews with key CEOs on their predictions for what’s coming in finance, energy, technology, retail, defense & transportation, and health care.
There are stories from around the world and charts illustrating personalized pricing, banks and their troubles, the quest for same-day delivery, and more.
In addition, there’s a ranking of the world’s 600 biggest companies by market share within their 55 industries, and to impress friends, a tear-out card of information on how six industries are facing the year ahead.
by Chris Roush
The two editors who oversaw Bloomberg Businessweek‘s coverage of business schools have left the weekly business magazine, multiple sources have confirmed.
Louis Lavelle, the magazine’s business schools editor since 2005, and Geoff Gleckler are no longer at the magazine, just weeks after the magazine revised its rankings of top MBA programs due to a calculation error.
Lavelle, whose last story was posted online on Nov. 7, declined to comment when contacted by Talking Biz News. Gleckler, whose last story was also posted online on Nov. 7, could not be reached for comment. The magazine posted Wednesday that it was seeking new people for their jobs.
A magazine representative said, “We remain committed to our coverage of business schools.”
Lavelle was an associate editor for the magazine. Previously, he was BusinessWeek’s management editor. Since taking over as the magazine’s business schools editor in 2005, his team expanded the franchise to include coverage of Chinese business schools and new rankings of undergraduate business programs, part-time MBA programs, the best employers for new college graduates, and the best employers for internships. In 2007 and 2008, BusinessWeek won National Magazine Awards for the B-schools channel on Businessweek.com.
Lavelle is also the author of “Fast Track: The Best B-Schools” (McGraw-Hill, 2008). Prior to BusinessWeek, Lavelle was a reporter at The Record in Hackensack, N.J.
Gloeckler was a staff editor, covering management education at Bloomberg Businessweek. He is part of the team responsible for creating the Best Undergraduate Business Schools ranking, the Best Business Schools ranking, the Best Executive Education and Executive MBA providers, and the newly launched Power 100 ranking of the most powerful people in sports. He is also the author of Fast Track: The Best Undergraduate B-Schools (McGraw-Hill, 2008).
Prior to joining BusinessWeek in 2005, Gloeckler served as editor of Wal-Mart World, an employee publication distributed to Wal-Mart and Sam’s Club associates. Gloeckler is a graduate of the University of Missouri’s journalism school.
by Chris Roush
Bloomberg Businessweek is seeking an editor to lead its business schools coverage.
The editor will run a dedicated digital channel; oversee its Best Business Schools rankings packages online and in print; set the priorities and tone for an increasingly important area of coverage for us; and manage an editorial team. There will be opportunities to write as well as edit and to represent Businessweek in the media and at events.
Beyond the relevant professional experience, our ideal candidate will have grand ambition for its BSchools franchise and bring the voice, energy and vision needed to build on our strong history and foundation. The position requires impeccable news judgment, strong interpersonal skills, and a sense of humor.
-Bachelor’s degree or equivalent experience
-Minimum of five years of journalism experience as a writer and/or editor in any medium, preferably more than one;
-Experience in crafting an entire editorial product or section and generating story ideas on an ongoing basis;
-Demonstrated ability to think creatively and work collaboratively on a daily deadline.
To apply, go here.