Tag Archives: Forbes
Business news wire Reuters and business magazine Forbes have agreed to develop video content for TiVo, according to a news release.
The broadband video content from Reuters will include Reuters Showbiz Week, Reuters Technology Week and Reuters Oddly Enough: And Finally show, which is a wrap-up of the week’s most interesting offbeat stories.
The content from Forbes will include business and affluent lifestyle programming focused on the interests and pursuits of the Forbes community. Content will include video companions to print & online Forbes lists such as best places to retire and top 10 travel destinations. Other content will include profiles of inspirational role models & entrepreneurs, how-to guides on collecting, buying a second home and exclusive access to high-profile event.
Miguel Forbes, Forbes vice president of new business development, said, “We are very excited by the opportunity to partner with TiVo to deliver our trusted brand and expertise in business and lifestyle programming to a sophisticated audience in a fresh, forward-thinking, and compelling way.”
Read more here.
Matthew Flamm of Crain’s New York writes that the decision to change managing editors at Fortune by parent Time Inc. signals that the parent company is trying to stem some of the issues that the glossy has recently faced.
Flamm wrote, “Fortune needs to crank it up. Portfolio‘s arrival will mean a tougher environment for Forbes and BusinessWeek. But Fortune â€” which emphasizes the long-form journalism that Portfolio plans to showcase â€” can expect to battle the Conde Nast title most directly.
“Not surprisingly, Portfolio lured away three top Fortune staffers as part of a hiring spree ahead of its launch. None of its personnel have come from BusinessWeek or Forbes.”
Later, Flamm added, “But Fortune, as part of a publicly held company, will have fewer resources and less flexibility than privately owned Portfolio.
“‘The question ultimately is how much Time Inc. will put into Fortune competing against Portfolio, versus all the other issues it has to deal with,’ says magazine consultant Peter Kreisky.”
Read more here.
Former BusinessWeek reporter Gary Weiss, who now writes a column for Forbes.com called Muckraker, comments on his blog this morning about a New York Times story on his former boss — McGraw-Hill CEO Terry McGraw. NcGraw-Hill is the parent of BusinessWeek.
Weiss wrote, “He got a lot of razzing for that from some people at BW, and it proved to be unfair. He has succeeded smashingly by pretty much any measure.
“I had few dealings with Terry, directly or indirectly, and that’s one of the best things any investigative reporter can say about a CEO. Not once did I ever hear about any effort to influence, through Terry, the content of any of the tough stories I had written or were in the pipeline.
“In fact, he was a stalwart advocate in the stormiest of times.
“I thought back on Terry during the recent controversy over Sharesleuth, Mark Cuban’s insider trading vehicle. Whatever else one may say about Terry McGraw, it would have been inconceivable for he or his predecessors to have profited from upcoming stories in Business Week. Cuban, by contrast, has turned a taboo into a ‘business model.’”
Read more here.
A new trial will be held in the murder of Paul Klebnikov, the editor of the Russian edition of Forbes magazine, after the country’s Supreme Court overturned an earlier acquittal verdict, a wire service is reporting.
The court, acting on an appeal by prosecutors, ordered a new trial with a new judge, a court spokesman told Agence France-Presse.
The wire story stated, “Two men went on trial on Jan 10 on charges of carrying out the killing on behalf of a Chechen separatist, Khozh-Ahkmed Nukhayev, who was the subject of a critical book written by Klebnikov. But they and another man on trial on related charges were acquitted by a jury on May 5.
“However, close associates of Klebnikov and a section of the Moscow press disputed the official line that the journalist had been murdered on the orders of Nukhayev. They said Klebnikov had been investigating presumed contacts between Russian political officials and Chechen separatists.
“The three suspects had denied the charges in their earlier trial.”
Read more here. A Bloomberg story included this statement: “Today’s decision is a hopeful sign for justice and the rule of law in Russia,” the Klebnikov family said. “It confirms that blatant procedural irregularities took place in the lower courts, and that these cannot be ignored.”
Albany Times-Union business editor Marlene Kennedy attended the SABEW fall conference in New York last week, and on her way back home, she called her husband, who asked the dreaded question every columnist doesn’t want to hear.
She wrote, “My husband is asking that annoying question again. He knows it’s tough pulling off a weekly column on top of other responsibilities. (He knows because I tell him so — frequently.)
“‘Did you get a column out of it?’ He’s relentless.
“I start to drop names: Becky Quick of CNBC’s ‘Squawk Box’ was there; so was John Thain, head of the New York Stock Exchange. And Steve Forbes talked about taxes and health care over lunch.
“‘I shook Anne Mulcahy’s hand,’ I offer.
“The chairman and chief executive of Xerox Corp. was a keynoter on Tuesday. The conference was part practical sessions on covering issues like energy and the economy, and part question-and-answer time with high-profile speakers.
“Mulcahy had taken an empty seat beside me as she awaited her turn at the podium. Turning with a warm smile, she extended her hand: ‘Hi. I’m Anne Mulcahy.’”
Read more here.
New York Times business columnist Joe Nocera took questions from readers on the newspaper’s Web site on Tuesday, so I posed a question to him about what impact he believed the new Conde Nast Portfolio magazine would have on business journalism.
I thought Nocera would provide an interesting perspective because he once worked for Fortune, and while there he wrote a story about Conde Nast called “The Buzz Factory.”
Nocera replied. He stated, “Hard to know for sure how it will affect other publications. First of all, it is going to be a monthly publication, with glossy pictures and very long articles. Right now the pressure is in the other direction – to do things faster, and get them on the Internet. Forbes is stressing its Internet site almost at the expense of the magazine itself. Fortune and Business Week still are in the business of selling magazines first and foremost, but their Internet sites have becoming increasingly important and their writers are expected to write for it when they have some news or analysis. Conde Nast Portfolio also hopes to have a cool, interesting Web site, but it is much too early to know how it will do against its new competitors. The real question about Conde Nast Porfolio is whether business readers are going to want a magazine that comes out 12 times a year, and is largely lengthy profiles, stories and analysis. If they do, clearly the other magazines will react to that. As for whether it has affected them already, well, Andrew Serwer is the new managing editor of Fortune, my old stomping ground. Maybe that is a coincidence re: the coming of Portfolio. But maybe not.”
Read more here.
Peter Carlson of the Washington Post is highly amused by Forbes’ latest cover story, which discusses the angry battles that ensue between spouses when it comes time to end the marriage.
Carlson wrote, “You’ve gotta love a magazine article that includes the phrase ‘siphoning bison,’ especially when the story is about the mean, rotten, evil things that married people do to each other during nasty divorce battles.
“I’m talking about the cover story of the new issue of Forbes. It’s called ‘Divorce Dirty Tricks,’ and if you really want to have some fun you should read it while lying in bed with your spouse and start ostentatiously underlining key passages with a red pen. An interesting conversation will inevitably follow.
“Forbes is a business magazine, so the article focuses on the financial shenanigans of divorcing, particularly the fine art of ‘asset shuffling,’ which means hiding money before your !!#&%*! spouse can snag half of it.
“‘The very wealthy have long used Liechtenstein or Cayman Island trusts to keep assets squirreled away out of the reach of enemy spouses,’ writes Richard C. Morais. ‘But asset-hiding in divorces is no longer exclusively a tycoon’s game. Not uncommon: husbands who give interest-free loans to their girlfriends or have their businesses hire their love interests at unreasonably high salaries. There was the fellow in Missouri who stopped paying the mortgage on a property he owned with his wife, let the bank seize it and then had his parents buy it back at the foreclosure sale.’”
Read more here. As for the siphoned bison, Carlson laments, the story doesn’t say what happened to them.
Forbes.com announced that investigative journalist and author Gary Weiss will pen a regular column for the site titled Muckraker, focusing on international business and Wall Street. His inaugural column, Indiaâ€™s Nuclear Option, is available here.
â€œGary is among an elite group of journalists whose zest for investigative journalism has brought real change to the subjects heâ€™s covered,â€? said Paul Maidment, editor of Forbes.com. â€œWeâ€™re excited to offer Forbes.com readers his unique perspective on Wall Street and the world.â€?
Weiss has been uncovering Wall Street wrongdoing for nearly two decades. He wrote some of the first stories in 1991 revealing Salomon Brothers’ manipulation of the government bond market and he is the author of two books: “Wall Street Versus America” (Portfolio Hardcover, 2006) and “Born to Steal” (Warner Books: 2003), describing the Mafia’s infiltration of Wall Street brokerage houses in the 1990s. His reportage on the Mob on Wall Street resulted in dozens of indictments and convictions and is widely recognized as a seminal achievement in investigative journalism.
A native of New York City, he attended public schools and the Bronx High School of Science, and graduated from City College and the Medill School of Journalism, Northwestern University. After working as a reporter for The Hartford Courant and news services in Washington, D.C., Weiss joined the staff of Barron’s in 1984. He moved to Business Week in 1986.
Marketwatch media columnist Jon Friedman interviewed new Fortune managing editor Andy Serwer about his plans for the magazine and came away impressed with his attitude toward the job and toward his competition.
Friedman wrote, “Serwer is a new breed of managing editor (the highest editorial designation at a Time Inc. magazine). He is the rarest of modern journalists — a triple threat who can excel as an Internet and magazine writer as well as a television analyst.
“Serwer has strengthened CNN’s morning programs by adding perspective to business and finance headlines. He is adept at translating the arcane world of business-speak for ordinary viewers.
“Portfolio is a concern because Fortune has traditionally been the leading business magazine for providing analysis. Time Inc.’s executives publicly acknowledge Portfolio by speaking in cliches (‘we welcome the competition’ and ‘competition is good for the industry’ are two of their favorites), but Serwer lifted the veil during our conversation.
“‘We’re going to prevail,’ he said. ‘I don’t know what their vision is. But I know what ours is: We do the best damned business journalism in the world.’
“Serwer went so far as to voice the unspoken fear of the magazine community, specifically involving mainstays Fortune, BusinessWeek and Forbes: that Portfolio’s emergence will cause a shakeout. ‘It’s possible that there isn’t room for four business magazines,’ Serwer said. ‘But I know that we’ll still be standing.’”
Read more here.
Diego Vasquez of Media Life Magazine writes that the decision to name a new managing editor at Fortune magazine was in part spurred by growing competition among the biz glossies to attract readers to their online offerings.
Vasquez wrote, “Both Business Week and Fortune were far slower than Forbes in developing their web presences, cutting back during the ad recession when Forbes was building up Forbes.com, and that has left both playing a game of catchup, and a late one at that.
“Stephen J. Adler was hired two years ago as editor of Business Week, lured away from The Wall Street Journal, and his mandate was to beef up that magazine’s online presence. But it’s been a slow go. The magazine continues to be in turmoil following a string of staff cuts.
“Back in January, CNNMoney.com was relaunched as a super site for Time Warner business news, including Fortune, Money, Fortune Small Business and Business 2.0, and as of June that site ranked No. 4 among top business news sites, ahead of Forbes.com at No. 7 and No. 10. But Fortune’s share of CNNMoney.com traffic is presumably a fraction of the total, leaving it still well behind Forbes.com.
“The arrival of Portfolio will make the race of online readers all that more intense. While Conde Nast is saying little about the title, it is expected to offer a strong online component and an emphasis on news under Joanne Lippman, also a former top Wall Street Journal editor.”
Read more here.