Tag Archives: New York Times
New York Times business editor Larry Ingrassia made the following announcement of beat changes on Monday afternoon:
“We are pleased to announce that we have found another terrific Stephanie to cover the retailing beat in Business Day.
“Stephanie Clifford, who has been covering advertising, marketing and magazine publishing in the media group, will rejoin Bizday (her original home at The Times) to replace Stephanie Rosenbloom, who is moving to Styles.
“Stephanie C. came to The Times in March 2008 after three years at Inc. magazine, where she was a senior writer covering a variety of topics. Since joining The Times, she has written about everything from the decline in luxury advertising (goodbye, Marc Jacobs’ annual party with the contortionists and tableaux vivants) to, in a variety of page one stories, how consumers are being tracked online. Her coverage of magazines and editors has included stories on Newsweek’s planned sale, Gourmet’s closing, unrest at Harper’s, cutbacks at Conde Nast, why People StyleWatch is a hit with readers (despite running few full sentences) and how David Remnick managed to write a 600-page book while editing The New Yorker.
“Her advertising coverage has focused on digital strategies and how marketers and retailers are quietly compiling data on consumers — raising privacy concerns among Washington policy makers — a topic she will continue covering on the retail beat.
“Stephanie C. previously worked for Business 2.0 and freelanced for Time, Worth, Us Weekly and Sports Illustrated Women, among others. She was executive editor of the Harvard Crimson in 1999-2000, and she coxed on the freshman crew team.
“Stephanie lives in Cobble Hill in Brooklyn, having recently moved there from the West Village. She’s trying to master rooftop gardening (so far, she confesses, ‘with limited success, as the cucum-tomato-scallion creation that seems to be taking root suggests’).
“While we will miss Stephanie R. we are very happy to have Stephanie C. back in Bizday. She will rejoin us in early June.”
David Carr of the New York Times writes Monday about “Reuters Insider,” a new video product being launched by the financial wire later this week that he calls “YouTube for the financially interested.”
Carr writes, “About 15 percent of the content on Reuters Insider will come from the service’s own studios and desktop nodes, while the rest will come from major media outlets like CNBC, Sky and Forbes, along with a lot of content from analysts at UBS, Roubini Global Economics and JPMorgan. Oh, and a long tail of hard-core niche providers most civilians have never heard of.
“As part of the initiative, Reuters is sharing a suite of elegant and easy tools for desktop video production, even if some of the footage that comes back looks like a hostage video. ‘Not everybody is going to take to this immediately,’ said Mike Stepanovich, the managing editor of Reuters Insider, diplomatically. ‘Some of our partners will be quicker adopters than others.’
“It sounds wonderful, and probably will be one day, but the density and relevance of information still need work. And on-demand Web video, as anyone can tell you, won’t always do what you demand. Thomson Reuters says that it will iron out glitches as they occur and that it expects that, as some of its partners begin to see a marketing benefit from their video content, their contributions will grow in depth and quality.”
Read more here.
Brian Stelter of the New York Times writes Thursday about how some business news media were coping with covering the stock market’s dramatic movements. The Dow Jones Industrial Average fell 9 percent earlier in the day before ending down 3.2 percent.
Stelter writes, “Web sites like Bloomberg.com were hammered by traffic, causing technical problems, though the company’s Bloomberg terminals remained up and running.
“As the Dow briefly dipped below the 10,000 mark, one of the anchors on Bloomberg TV called it a ‘breathtaking drop, breathtaking decline,’ as others read out loud just how far the stock index had fallen.
“The anchors on CNBC, Bloomberg and the Fox Business Network didn’t panic, but they did turn their collective attention to the Dow between 2:40 and 2:50 p.m. Eastern when the market nosedive took place. ‘I don’t mean to sound like a broken record here, but this thing just continues to break records,’ the Fox Business anchor David Asman said of the Dow’s drop.
“At times, the cable anchors were talking over one another, making it especially hard to make sense of what was being said. (Four minutes of CNBC’s coverage are up on YouTube.)”
Read more here.
Newser founder Michael Wolff writes Wednesday that New York Times business reporter Andrew Ross Sorkin was starstruck in covering Warren Buffett and his stake in Goldman Sachs this weekend at the Berkshire Hathaway annual meeting.
Wolff writes, “Andrew Ross Sorkin, the New York Times business reporter, may be even more in love with successful people than most of his colleagues. This is because he is charming and young and successful people love him back.
“Sorkin went out the other day to Omaha to attend the annual meeting of Berkshire Hathaway at the invitation of its CEO, Warren Buffett, the most successful man in America. Sorkin was actually there as part of a three-person panel of journalists to question Buffett. That is, Buffett loves Sorkin, and Sorkin was there expressly to love Buffett in return.
“Sorkin then wrote about the meeting in the Times using the most successful man in America’s defense of Goldman Sachs as a way to help rehabilitate the firm. This is, on Buffett’s part (and, no doubt, on the part of Goldman’s PR strategists), a precise and canny use of the New York Times, possibly the most significant outlet for making, preserving, and protecting the reputations of successful people. It is also canny on Sorkin’s part to have placed himself smack in the middle of the matrix for success. (The most canny business reporters are not only smitten by the success of successful men, but are always figuring out a way to get some of it for themselves.)”
Read more here.
Joe Pompeo of Business Insider reports that New York Times business reporter Louise Story has joined Bloomberg Television as a contributing editor.
“But today marked the first segment she did in her new official role. She was on at 8 a.m. with Betty Liu talking about tomorrow’s FCIC hearings with Bear Stearns, former SEC head Christopher Cox and Treasury Secretary Hank Paulson. She’ll be doing similar segments for Bloomberg TV on a weekly basis.
“Story’s been a reporter at The Times, where she covers Wall Street and finance, since 2006.”
Read more here. Story remains at the Times. Story will appear weekly on the network to offer news and analysis from her coverage of Wall Street banks, regulation and all things finance.
David Carr, a media columnist for the New York Times, doesn’t like the way that Apple reacted to tech blog Gizmodo purchasing a prototype iPhone that had been left in a bar by one of its employees and then writing about it.
Carr writes, “The media’s crush on Apple has always been an unrequited love affair. The company has a few familiars in the press whom it favors, but Apple has ‘no comment’ programmed on a macro key. The company has unsuccessfully sued bloggers who, it believed, had punctured its veil of secrecy, and important tech news organizations like Wired have been shut out as a result of coverage deemed ill-mannered.
“The raid on Mr. Chen can only ratchet up the tension.
“‘When I got home, I noticed the garage door was half-open,’ he said in a letter posted on Gizmodo. ‘And when I tried to open it, officers came out and said they had a warrant to search my house and any vehicles on the property ‘in my control.’ They then made me place my hands behind my head and searched me to make sure I had no weapons or sharp objects on me.’
“Apple has an admirable history of innovation and marketplace performance, but this time the company and Mr. Jobs are drawing attention for all the wrong reasons. Everyone knows that it is his show, his call. But in engaging the long arm of the law on behalf of his corporate interests, Mr. Jobs may lead us to think, um, differently about Apple’s growing cultural dominance.”
Read more here.
Michael Lewis won the Morton Frank Award for business reporting from abroad in magazines for “Wall Street on the Tundra” in Vanity Fair.
Judges said the article was “a richly reported and engaging account of Iceland’s incredible financial bubble. Lewis calls Iceland’s experiment with hedge funds and other Wall Street-inspired financial engineering instruments ‘one of the single greatest acts of madness in financial history.’ The country’s economy traditionally was based on fishing, aluminum and geothermal energy. When men who had worked on fishing boats put down their rods and took up banking overnight, they set the stage for the economy’s ultimate collapse. Lewis also distinguished his story by demonstrating that Iceland’s gender-segregated male-dominated culture played a role in the reckless risk-taking.”
Keith Bradsher, the Hong Kong bureau chief of the Times, won the Malcolm Forbes award for business reporting from abroad in newspapers or wire services for “Green China.”
The judges said Bradsher “shows in his compelling coverage over the past year, this push is complicated by the juxtaposition between China’s hopes – to own and define the world’s new green economic future – and its reality, as the world’s largest polluter. While it has the power and resources to radically reduce carbon emissions, the country’s desire for rapid growth often takes it in the opposite direction. The world’s largest polluter can thus become the world’s largest consumer of wind. A country on the cutting edge of green technologies can nevertheless tolerate toxic runoff and substandard incinerators that damage the health of its own people. For his insightful, enterprising and nuanced look at the contradictions and promise of China’s green push, the OPC is pleased to give its Malcolm Forbes Award to Keith Bradsher.”
Read about all of the winners here.
Yvette Kantrow, executive editor of The Deal, writes Wednesday that The Wall Street Journal‘s coverage of mergers and acquisitions is not what it used to be — and won’t be in the future if deals heat up.
Kantrow writes, “Dennis Berman‘s allegedly biweekly column, ‘The Game,’ hadn’t appeared for an entire month before resurfacing on April 13th with a non-jumper on an 81-year-old Felix Rohatyn. Even the Journal’s once-chatty Deal Journal blog is a shadow of its former, informative self.
“Of course, this could all change if the deal markets heat up and Murdoch’s archrival, The New York Times, beats the Journal on a beat his paper used to own. Indeed, the Journal could not have been too pleased a couple of weeks back when it had to credit the Times for breaking the news that United Airlines and US Air were in merger talks — a scoop that the Times placed prominently on its front page. That piece’s main author, Andrew Ross Sorkin, is the most recent example of a reporter who has ridden the M&A beat to broader fame and fortune, not to mention a bestselling book on the financial crisis.
“Sorkin’s rise is instructive because of how much it differs from Lipin’s a decade ago. Lipin trafficked almost exclusively in big-time M&A during his Journal career and appeared almost exclusively in print; Sorkin is not only multichannel — print, online, TV, a book — but he has used the deal beat as a springboard to cover and opine on finance and almost everything that entails, from the industry’s big machers to policy and regulation, including too-big-to-fail.
“Following in the footsteps of The Daily Deal and the magazine you are reading now, Sorkin’s DealBook Web site recognized the existence of a far-flung and seemingly unrelated community of people — M&A bankers, venture capitalists, bankruptcy attorneys, lenders, antitrust experts, etc. — united by the common thread of dealmaking.”
Read more here.
Jeff Bercovici of DailyFinance.com writes that Wall Street Journal managing editor Robert Thomson played a role in using New York Times publisher Arthur Sulzberger Jr.‘s photo in an illustration in the paper.
Bercovici writes, “Thomson acknowledged, to the Observer if not directly to Sulzberger, that it was indeed Sulzberger’s chin and cheeks in the photo mosaic. But what he hasn’t acknowledged publicly is that the very idea of using the illustration to tweak Sulzberger was his from the start — and that it wasn’t a popular one among his Journal subordinates, who aren’t used to seeing their news pages used to carry out Murdoch’s personal feuds (unlike, say, their counterparts at the New York Post).
“Multiple Journal sources supplied both of these details. The reaction, they said, when Thomson ordered a photo of Sulzberger added to the collage ranged from discouragement to horror to sheer bafflement. One source close to the situation stressed that Thomson has a dry, sometimes inscrutable sense of humor that frequently confuses his underlings and leaves them wondering whether or not a suggestion of his was in earnest. That ambiguity could have contributed to misunderstanding in this case: If it’s true that the mosaic was meant to represent all sorts of male features, not just effeminate ones, as Thomson told the Observer, then where, exactly, was the humor in including Sulzberger?
“Alas, Thomson declined to comment on any of this to DailyFinance. That leaves Sulzberger’s account of their conversation to stand more or less unchallenged — and leaves Thomson looking like he’s man enough to call someone else a lady-man behind his back but not quite man enough to say it to his face.”
Nat Ives of Advertising Age writes Monday about the pending launch of the New York section of The Wall Street Journal, and he has some interesting statistics about the paper’s readers.
Ives writes, “The Journal’s daily readership, however, was 62.3% men and 37.7% women in the most recent audience estimates from Mediamark Research & Intelligence, compared with a Times readership that was 51.1% men and 48.9% women. And the Journal may be a bigger paper nationally, but so far it lags behind the Times in New York. The Journal had 284,224 paying readers in the New York market area over the 12 months ending last September, according to the Audit Bureau of Circulations, compared with 495,048 for the Times.
“Because of those reasons, ‘It’s going to be hard for them to all of a sudden shift dollars to the Journal,’ said George Janson, managing partner and director of print at Group M, a media-buying agency. ‘If it’s a time-sensitive message where they really want to heavy up in the New York market, it may have some relevance, but other than that there’s not a line of people outside of my door saying we’ve got to get into The Wall Street Journal New York edition.’
“The Journal counters that its female audience has been increasing over the past few years — and that its female readers are more affluent and more likely to be employed than their Times counterparts. Its whole audience, for that matter, has a higher median income than Times readers, according to Mediamark. And many advertisers with New York interests have used The Journal for years.”
Read more here.