Tag Archives: Crain’s publications
by Chris Roush
Crain’s Detroit Business has made a number of editorial staff changes in a bid to improve its print and web publications.
Andy Chapelle, 57, has joined Crain’s as managing editor and will lead the reporting staff. Chapelle had been editor of the Ann Arbor Business Review and was founding editor of the Oakland Business Review. He previously spent about 20 years with The Ann Arbor News, finishing there as news editor.
Chapelle is a former board member of The Associated Press Managing Editors Association and has been active in the Ann Arbor community. He is a graduate of Eastern Michigan University and has a master’s degree from Michigan State University.
Michael Lee, 35, has been promoted to Web general manager. In that position, he will lead the Web team of Dan Eizans and Ai-Ting Huang and have responsibility for overall newsroom Web-related activities.
Lee joined Crain’s in 1999 as a copy editor and most recently was deputy managing editor, leading the copy desk. The copy desk is responsible for final editing of Web and print stories, as well as designing pages and writing headlines. Lee is a graduate of MSU and worked at The Oakland Press in Pontiac for five years before joining Crain’s.
Jennette Smith, 32, has been promoted to assistant managing editor for Crain’s weekly Focus sections that target specific industries, as well as small business and topics related to entrepreneurship.
Smith joined Crain’s as a reporter in 1998 and has covered several industries for Crain’s, most notably real estate and hospitality. Previously, Smith worked for The Macomb Daily, The Times Herald of Port Huron and the Muskegon Chronicle. She is a graduate of MSU.
Brent Snavely, 37, has been named senior reporter in recognition of superior performance and leadership. Snavely joined Crain’s in 1999 and has covered several industries. He will continue in his current coverage areas of automotive suppliers, steel and restaurants.
Before joining Crain’s, Snavely had been a business reporter for The Advocate in Newark, Ohio. He is a graduate of Wittenberg University in Springfield, Ohio, and also attended graduate school at Ohio State University.
Also, reporter Sherri Begin is one of 20 journalists selected nationwide to participate in a competitive-application seminar on nonprofit reporting underwritten by the McCormick Tribune Foundation. Begin, 37, has covered nonprofits since joining Crain’s in 2003 from sister publication Rubber & Plastics News. She is a graduate of Northern Michigan University.
Lastly, Chad Halcom has joined Crain’s Detroit Business as the reporter covering Oakland and Macomb counties, services and the environment.
Halcom,35, previously was with The Macomb Daily, where he had been since 1997. Previously, he had done work for The Sentinel in Carlisle, Pa.; The Tribune Chronicle in Warren, Ohio; The Associated Press in Detroit; and The Daily News in Greenville, Mich. He has won awards from both The Associated Press and the Michigan Press Association for breaking news and investigative reporting. He is a graduate of Michigan State University.
by Chris Roush
The web sites for Crain’s Chicago Business and Marketwatch won in the business categories at the Annual Eppy Awards, which are sponsored by Editor & Publisher and MediaWeek magazines andÂ honor the top media-affiliated Web sites in 33 categories.
Crain’s Chicago won in the best business web site with less than 1 million unique visitors per month category, while Marketwatch won in the category for web sites with more than 1 million unique visitors per month.
In addition, the FT Alphaville blog from The Financial Times won for the best business blog.
Fast Company magazineÂ won in the category for best national magazine-affiliated web site.
See all of the winners here.Â
by Chris Roush
Ben Tucker of Crain’s Cleveland Business writes in the latest issue about a reporter who came to him and said she’d heard that he had killed a story she was working on because it involved a friend of the publisher.
Tucker wrote, “For the record, Dick Pogue has never in my more than 22 years at Crainâ€™s suggested to me that we stop a story. I believe he wouldnâ€™t suggest such a thing because he knows I wouldnâ€™t do it. Itâ€™s that simple.
“Now I admit I have had some requests from other folks over the course of that time, but they have been few and far between. Most people have heard the drill from me and our editors about how Crainâ€™s Cleveland Business operates.
“There are only two reasons we kill a story thatâ€™s in progress: if weâ€™re scooped on it by a competitive media organization before we can get it on the web or in print, or if our reporter determines the story premise is faulty and there is, in fact, nothing worth pursuing.
“So, to review: Donâ€™t bother trying to ‘kill’ a story. We publish our stories on their merits. No outside pressure, from advertisers, friends or influential people will stop a story. Ever.
Read more here. That’s the way it should be.
by Chris Roush
An item in the latest issue stated, “But with the stock’s decline of almost 10% in the past year, some analysts reckon the shares are overvalued.
“Lehman Brothers, for one, believes the stock needs to fall another 25% to be in line with the values of other newspaper companies.
“‘This company needs to do something radical, and I’m not sure they have the CEO who can do that,’ says Ivan Feinseth, research director at securities firm Matrix USA. He believes the company should slash its annual dividend payout of $83 million and publish the newspaper exclusively online.
“True, the old regime will finally bow out next week when former Chief Executive Peter Kann formally steps down as chairman. Since taking charge in January 2006, Chief Executive Richard Zannino has put more emphasis on the company’s Web businesses, most notably by buying full control of Factiva, the news database Dow Jones co-owned with Reuters. Subscriptions to WSJ.com rose 6% last year, to 811,000, while circulation of the dead-tree version was flat at 1.7 million. But even online, there were disturbing developments: a 6% decline in average monthly visitors to WSJ.com and a 14% drop at MarketWatch, a site Dow Jones acquired two years ago for $530 million.”
Read more here.
by Chris Roush
Detroit-based Crain Communications Inc., which publishes weekly business newspapers in Cleveland, Chicago, Detroit and New York, said Monday that it isÂ suspending operations of its two regional business publications, Crain’s Mexico and Crain’s Monterrey, while itÂ tries to sell them.
Originally published as El Asesor de Mexico and El Asesor de Monterrey, the publications were purchased by Crain Communications in 2001. The bi-weekly newspapers, published in Spanish, cover the local business communities of Mexico City and Monterrey, Mexico.
In aÂ release Crain Communications President Rance Crain said, “We have been very proud of these two publications and the people who run them. But at this time, our business strategy lies elsewhere. It is our hope that we can find a Mexico-based publishing company that represents our values to take over these valuable properties.
“In suspending our operations, we want to express our tremendous gratitude to each of our 41 employees based in these offices,” said Gloria Scoby, president of Crain Communications’ Mexican subsidiary. “Through their efforts and commitment to providing superior service to our readers and clients, Crain’s Mexico and Crain’s Monterrey are great examples of the best of regional business journalism.”
Read more here.
Glenn Coleman has been named the new editor of FinancialWeek, a new publication from Crain Communications Inc, according to a news release.
Beginning Aug. 14, Coleman returns to Crain Communications from Popular Science where he was deputy editor. Previously, he had been assistant managing editor of Money. Both magazines are published by Time Inc.
Prior to joining Money in 1999, Coleman led the launch of InvestmentNews, a weekly newspaper for the financial advisory business published by Crain Communications. He joined Crain in 1990 as features editor of Crain’s Chicago Business, and served as managing editor before joining InvestmentNews as editor.
“We’re extremely pleased that Glenn has come back to Crain, and we’re confident that he will be instrumental in making FinancialWeek a serious, fast-paced and comprehensive newspaper that captures the flair and drama of corporate finance,” said William T. Bisson Jr., group publisher of Crain Financial Publications.
Located at Crain’s New York City offices, FinancialWeek is a business tabloid distributed to 55,000 chief executive officers, chief financial officers, treasurers, controllers, secretaries, investor relations directors and others within the upper tier of financial decision-makers at the largest U.S. corporations.
Read the release here.
The previous editor — former Bloomberg News editor Rob Hertzberg — was fired by Bisson for failing to produce an initial issue this summer that provided the kind of news content that he wanted.
Jill Kaplan, currently the general manager of several sections of The Wall Street Journal, has been named the new publisher of Crain’s New York Business, replacing Alair Townsend, who will become publishing director in mid-September, according to a story on the Crain’s site.
Kaplan is the general manager of The Weekend Edition, Weekend Journal, Personal Journal and The Journal Report. When Kaplan assumes her position at Crainâ€™s, she will take responsibility for all day-to-day operations at the paper.
The story quoted Townsend as saying, “Iâ€™ve loved doing this job for nearly 18 years, but Iâ€™m getting ready for a change. As we were doing our succession planning, we were explicit in our criteria to find someone who could bring to Crainâ€™s New York Business knowledge of business, politics, the arts and entertainment, and the experience to back it all up to help further grow CNYB. Jill has that plus some. I know that she is the one whose hand I want to lead our paper in the future.â€?
Said Rance Crain, president of Crain Communications Inc.: â€œWe are not saying goodbye to Alair, but rather hello to Jill Kaplan. Iâ€™m very pleased that Alair has agreed to continue her column, which has been a real asset to the paper. If not for Alair, there would be no Crainâ€™s New York Business today. It will now be Jillâ€™s job to build on Alairâ€™s work and take CNYB on to new glory.â€?
Read more here.
William T. Bisson Jr., is group publisher of financial media at Crain Communications, which oversees Pensions & Investments, InvestmentNews and P & I Daily and serves as vice president of Crain Communications. Crain also publishes business newspapers in Cleveland, Chicago, Detroit, New York and in Mexico as well as industry publications such as Business Insurance.
Bisson has been the person behind the launch of Crain’s latest publication, New York-based FinancialWeek, which had its debut issue last week. On Monday, Bisson talked by telephone about the weekly business newspaper, which will begin publishing weekly in 2007. Bisson hopes to have a circulation of 55,000 and sell subscriptions for $79 a year.
What follows is an edited transcript of that conversation.
1. What was behind the decision making at Crain to start this publication?
The decision essentially was that all of the trade publications I read, including Wall Street Journal, Forbes, Fortune and BusinessWeek, youâ€™re looking at all of this information and thinking, canâ€™t I consolidate this all down into one publication? This is an awful lot to read every week. That was the thinking. We have a unique perspective, and weâ€™re looking for a niche. Corporate finance is one of them, but there wasnâ€™t a high frequency newspaper serving that market. We made a presentation to the Crain family, and they bought into it.
2. What kind of audience readership are you seeking?
The core reader will be the CFO of a corporation. Weâ€™re looking at large companies and middle market companies, basically. Itâ€™s the 17,000 largest companies with $100 million in revenue or 100 employees. Thatâ€™s where we started looking.
3. What is the niche that this publication fits that you feel isn’t being filled by other publications?
The niche is a comprehensive newspaper that picks up the things that a CFO would be interested in. It wonâ€™t have the depth of Pensions & Investments. You want to generally know whatâ€™s going on across 10 or 15 beats, from investor relations to governance rules. But you donâ€™t need a primer written for you. Itâ€™s a little broader, but itâ€™s not as broad as the Wall Street Journal. We will have news, trends and analysis, not in-depth features. Itâ€™s what Crain does.
4. Why a newspaper format instead of a magazine format?
Weâ€™re not very good at magazines. Nothing against them. But the higher you climb in the corporate hierarchy, the less time you have to read magazines and you become depending on news. You get a piece of news information, it might change a decision you make.
5. Can you give me an example of some of the stories that will be covered?
Anything thatâ€™s regulatory, such as Sarbanes-Oxley, that would be important. We did stories in the first issue on the merger with the New York Stock Exchange. We did a story on audit fees and how they didnâ€™t drop after Sarbanes-Oxley. There will be things on corporate governance and investor relations. Any FASB rulings that would come out, we would be on top of. Itâ€™s supposed to be a quick hit for somebody who is already on top of the game. Weâ€™re not teaching anybody anything, weâ€™re just telling them whatâ€™s going on.
6. Do you see this publication breaking news about finance?
Oh yeah. Itâ€™s an ongoing process at Crainâ€™s. We donâ€™t own a publication that doesnâ€™t intend to break news. Itâ€™s an expectation that we have, and we can do it in a weekly newspaper.
7. What publications will FinancialWeek compete against?
At this point, from a readership standpoint, weâ€™ll compete with the Journal. Thatâ€™s the competition that the editorial staff looks up to. In its own niche, CFO magazine is a logical one, but it has redesigned itself and is trying to compete with Forbes and BuisinessWeek, and weâ€™re not interested in that. Thatâ€™s more broader based. This will be a hard-working publication in terms of what is going on.
8. You have hired four staff writers so far. How big will the editorial staff get?
It will be 18 by the end of this year. The budget calls for 20 at the beginning of next year. Right now, most of them are going to be in New York, but we also have an office in San Francisco, and I expect we will have two people in Washington within two years. Ultimately, we will have them globally. Normally, we get them from the business sections of newspapers. We donâ€™t have much success hiring from magazines. We like them better. They have news backgrounds.
9. How does this fit in with the other business publications at Crain’s?
It fits into my group very well. I have Pension & Investments, which normally fits into the treasurer department of a company and endowments and money management. The ad sales people will call on the same people, but at a higher level. It wonâ€™t be the director of pensions, but the CFO. Itâ€™s a complement to Pensions & Investments. Workforce Management is an HR book we bought several years ago, and it fits into that area as well because the HR directors report typically to the CFO. Business Insurance is another paper that we have, and this publication will also be covering that, but for a higher-level executive. It complements everything. Within the company, it could be a core publication that everything else revolves around.
10. How will the paper be distributed to readers nationwide?
Postal. In certain cities, we may use alternative distribution. The first issue is going to 75,000, and the second issue in September will go to a similar sized audience. But it will be predominantly be post office. We control the circulations pretty tight on these publications.
11. What will be the Web presence? Will breaking stories be posted on the Internet first?
For sure. The four people we have hired right now are trying to figure out how to do that on an ongoing basis. The intent is to integrate online reporting with print reporting. I donâ€™t think thatâ€™s unusual. It makes more sense. We want to be the first ones with the story, and the Web allows us to do that.
12. How is the process going in finding an editor?
Weâ€™re going through the interviewing process. Weâ€™re looking for a certain kind of editor, and I desperately want someone who is hard news. Most of what we look at in terms of hiring editorial staff is newspapers. It wonâ€™t be as broad as the Wall Street Journal, but it wonâ€™t be as deep as Pensions & Investments. But we can go deep if we want to, and will go deep. Thatâ€™s why I like daily newspaper reporters and editors. Daily newspaper people have pretty good news judgment.
The first issue of FinancialWeek, a new publication from Crain Communications, is due out on Monday, according to the newspaper’s Web site. Crain already publishes weekly business newspapers in Cleveland, Detroit, Chicago and New York, and it publishes industry newspapers as well.
So far, FinancialWeek appears to have an editorial staff of five people. The editor is Rob Hertzberg, a former Bloomberg News editor. He has also been editorial director for Financial Planning and On Wall Street.
There are four reporters. They are:
– Aileen Gallagher, who was most recently managing editor of Mediabistro.com. She previously worked as a researcher at Backtrack Reports, a New York-based company specializing in financial due diligence on investment management firms, including hedge funds.
– Andrew Osterland, who has covered the accounting profession and the financial world as a writer for CFO Magazine and Business Week. Before becoming a journalist, he spent a year as an auditor for Coopers & Lybrand.
– Arundhati Parmar, who joined FinancialWeek in its Chicago office from the Fort Wayne (In.) Journal-Gazette, where she covered business. She has also been a staff reporter for Marketing News and has freelanced for Crain’s Chicago Business
– Matt Quinn, who was previously the consumer finance reporter at American Banker where he covered the finance operations of GMAC and General Electric, among other companies.
FinancialWeek’s areas of beat coverage will include: economics and business markets, regulatory and legislative actions, financing, banking, insurance, real estate, cash management, investment management, benefits and retirement finance, investor relations, accounting and technology.
The tabloid paper will have an annual subscription rate of $79, and it will aim for its subscribers as the CEOs, presidents, CFOs, partners, treasurers, vice presidents of administration, IR directors and VPs of human resources as its target audience.
After the June 5 first issue, the publication will begin a biweekly publication schedule in September and go weekly in 2007.
FinancialWeek will be a new publication from Crain Communications Inc., which owns weekly business newspapers in New York, Chicago, Detroit and other markets. It named Robert Hertzberg, a former news editor at Bloomberg, as its editor, in a press release issued today.
The release stated, “Mr. Hertzberg joined FinancialWeek from Source Media, where he had been editorial director for Financial Planning and On Wall Street. He has more than 20 years of experience as a business editor and reporter, including news editor at Bloomberg News, editor of Baseline Magazine, editor of Internet World, and, at different times, editor of Internet Business Report, Open Systems Today and Computer Systems News, three publications from CMP Media.”
Details about the new publication, which will be based in New York, were stated as: “FinancialWeek will launch with a pilot issue on June 5, and will publish every other Monday beginning in September. The publishing frequency will increase to weekly in January 2007. Among the news topics to be covered in a typical issue: economics; financing techniques; risk management; benefits finance; corporate governance; investment management; accounting; information technology; real estate; and compliance and reporting.”
The target audience will be CEOs, CFOs, investor relations managers, and other corporate executives.
Read the press release here.