Tag Archives: Personal finance coverage
Daniel Solin of DailyFinance.com writes Sunday that the personal finance media have a way of hurting readers saving for retirement.
Solin writes, “The reality was nicely expressed by William Bernstein in his excellent book, The Four Pillars of Investing: ‘Turn on CNBC at 9:31 a.m. any weekday morning and you’re faced with a lunatic asylum narrated by the Three Stooges. But stand back a bit and things become much calmer and ordered.’
“With this background in mind, I was eager to read a column on a fine financial site, Investopedia.com, titled 5 Investing Statements That Make You Sound Stupid, by Amy Fontinelle. At last, sound advice for investors.
“Not exactly. While some of the examples are sound (like only investing a small portion of your assets in speculative stocks, assuming you must gamble at all), others are not.
“Ms. Fontinelle counsels investors to ‘get great deals on stocks now since the market is tanking.’ Trying to time the market means taking a huge risk. In addition, there is no reason to buy individual stocks at any price. The expected return is about the same as the index to which it belongs, but the risk is far higher due to company-specific risk. Investors are better off buying the index.”
Read more here.
Washington Post personal finance columnist Michelle Singletary will be honored by the National Association of Black Journalists (NABJ) for her dedication to improving the lives of others.
Singletary will receive the organization’s Community Service Award during the Salute to Excellence Awards Gala during NABJ’s 35th Annual Convention and Career Fair in San Diego, the largest gathering of minority journalists in the country.
NABJ bestows the Community Service Award to a black journalist who has had a positive impact on the black community outside the normal realm of journalism.
“Michelle is truly worthy of this honor. Through her column and community outreach she uses her gift and knowledge of personal finance to help people break free from debt,” said NABJ President Kathy Y. Times in a statement. “We also called on Michelle to help our members through the trials of industry layoffs and buyouts to help answer their questions about finances. She is always ready and eager to share her wisdom with others.”
Singletary’s syndicated column, “Color of Money,” appears in newspapers across the country. She is an accomplished reporter, author, radio and television host, and educator.
NABJ’s Community Service Award recognizes Singletary’s dedication not only in the newsroom, but in the community that she calls home. For years, Singletary has been called upon to speak at her home church, First Baptist Church of Glenarden (Maryland), under the leadership of Pastor John K. Jenkins Sr.
“Michelle has blazed a trail for black women reporting on business news at the highest level,” said Deirdre M. Childress, NABJ’s vice president-print, in a statement. “She is someone I admire — not just for her financial acumen — but for her unfailing willingness to help and assist others.”
Read more here.
Erin Locker writes on CollegeBizJournalism.org about how consumer reporting has evolved due to the Internet.
Locker writes, “Mass budget cuts and layoffs put the consumer beat on the backburner as editors were forced to prioritize.
“Mark Watanabe, technology editor at The Seattle Times, says the newspaper’s consumer coverage is much more limited than it used to be. ‘It’s simple economics. Newspaper staffs across country — here no exception — have reduced head counts by double-digit percentages,’ he says. ‘That forces publications to identify core coverage areas and product reviewing becomes a place to cut.’
“Watanabe also says the Times increasingly relies on freelance and wire reports to cover consumer issues for the paper: ‘When our staff was larger, we had a reporter dedicated to consumer use of technology. With the reduction in staff throughout the newsroom, that position is long gone.’
“The recession therefore presents an irony. When the economy tanks, consumers want more information about saving money and smart purchasing. But at the same time, newspapers lose money and cut consumer reporting. The resulting disconnect has made it necessary for readers to look elsewhere for their consumer information.
“Walter Mossberg, columnist for the Wall Street Journal and seasoned consumer and technology reporter, gives credit to the online movement: ‘I don’t think there are fewer [consumer reporters]. I think there are more, if you count all the many, many blogs aimed at informing consumers.’”
Read more here.
The New York Times announced Thursday that it will begin a week-long emphasis on personal finance journalism beginning next week.
The special news section, called Your Money: A Financial Tune-Up, will be accompanied by online features and a live panel discussion.
The week will offer advice and tips across a variety of platforms from three of The Times’s financial journalists: Ron Lieber, the Your Money columnist and overseer of the content at nytimes.com/yourmoney; Tara Siegel Bernard, a personal finance reporter; and Jennifer Saranow Schultz, a featured contributor to Bucks, a daily blog at nytimes.com/bucks.
These Times journalists will be the crux of the week-long program. The special edition of Your Money will feature important information on topics including dissecting tax returns, changing banks for the best results, planning for retirement, conducting your own financial check up using the same questions that financial planners use, and learning the key strategies and shortcuts for making the most of your money.
In one of his past columns, “A Day to Tackle the Financial To-Do List,” Lieber noted that it was worth setting aside time to catch up on personal finances, and a day was scarcely enough. Thus was born Your Money: A Financial Tune-Up.
Read more here.
Personal finance columnist Shannon Buggs has left the Houston Chronicle and is running Meta-Four Houston, the youth spoken-word poetry nonprofit she founded.
In an e-mail, Buggs told Talking Biz News, “After more than 16 years in daily newspaper journalism, I’m keeping my options open.”
In her goodbye column earlier this week, Buggs wrote, “For more than a decade, I’ve traveled with you on an extended tour of the world of personal finance, which ends with today’s column.
“The journey started with Your Money, the column I wrote for six years with the goal of giving you the information you needed to make reasoned and sound choices about the money you made, saved and invested.
“What I wrote, I lived — having the same talks about money with my husband that I encouraged you to have with your significant other, paying off credit cards and student loans, refinancing mortgages, rebalancing portfolios and saving to buy new black boots during the post-holiday sales.
“And like you, I stumbled — spending way too much on nursery furniture when my first child was born and failing to keep track of medical expenses that got out of hand. Every error served as a reminder that emotion can trump common sense and knowledge.
Read more here.
The Miami Herald has introduced some new content in its Monday Money section.
A brief states, “Tom Hudson, who made his own debut early this year as anchor for public television’s Nightly Business Report, begins a weekly snapshot of the week ahead. His mission: highlight financial signposts beyond the obvious — like the upcoming sale of sex.com.
Miami Herald consumer affairs reporter Nirvi Shah serves up news you can use now. This week her tip tells you how to reclaim forgotten property — without paying a finders’ fee.
“Our Flamingo Index will chronicle the cost of consumer items near-and-dear to South Florida wallets. For the next 13 weeks, we’ll mark baseline prices of dolphin sandwiches, milk, espresso, propane gas for the grill, yoga classes, cruises, massage treatments and other lifestyle purchases. In subsequent quarters, we’ll report back on how prices have changed at the exact same places where we’ve run our previous price checks.”
Fox Business Network announced Monday that it had signed former CNN personal finance editor Geri Willis to a multi-year deal. Terms were not disclosed.
Willis will serve as a host of a weekend program and will also appear across all programming to provide analysis on how the news of the day affects American taxpayers. She made her debut on the network on Monday.
In addition to providing commentary across Fox Business, Willis will also host a primetime weekend program titled “The Willis Report.” The program will focus on consumer and personal finance issues and will make its debut in the second quarter.
“I am thrilled to join the Fox Business Network team and look forward to creating a new show to help viewers understand how the week’s top economic developments affect their wallets,” said Willis in a statement.
While at CNN, Willis served as the personal finance editor for CNN Business News and hosted the weekly half hour “Your Bottom Line” program. Prior to CNN, Willis was the senior financial correspondent for Smart Money magazine.
A graduate of Columbia Business School where she was a Knight-Bagehot Fellow, Willis is the author of two business books, “The Smart Money Guide to Real Estate Investing” and “Home Rich.” She was also the winner of the Excellence in Retirement Savings Reporting award in 2001, which is bestowed by the American University School of Communication and the Investment Company Institute’s Education Foundation.
Read more here.
Wall Street Journal managing editor Robert Thomson sent out the following announcement to the staff on Tuesday:
“We are delighted to announce the appointment of the excellent Emily Nelson as Editor of Personal Journal, effective immediately. In her 15 years at The Wall Street Journal, Emily has been one of the paper’s finest editors and writers. She has covered micro-marketing and macro-economics, and Big Retail and Little Englanders.
“A New York native and Yale graduate, Emily joined The Wall Street Journal in 1995 as a summer intern at Southeast Journal in Atlanta. She worked as a reporter in the Pittsburgh bureau from 1995 until August 1997, then moved to Dallas, where she covered Wal-Mart, retail and hotels. In January 2000, she joined the media and marketing group in New York, first covering consumer products and Procter & Gamble and then the television industry. She was deputy London bureau chief in 2004 and became bureau chief in 2007, before returning to NewYork and the Weekend Journal.
“In recent months, Emily has done splendidly overseeing PJ, working assiduously to create a memorable experience for readers each day in both word and image. The audition is over and a great journalistic journey begins today for Emily and for her team. There is no doubt that the evolution of PJ has strengthened the character of the paper, broadened our audience and increased reader loyalty. We wish Emily and her extremely capable PJ team all the very best.”
The International Center for Journalists is now offering two online courses in English and Spanish on covering personal finance for Hispanic journalists and U.S. journalists covering finance issues for minority and immigrant communities. The courses are scheduled to start on April 16 and end on July 28.
The courses are open to Spanish-speaking and English-speaking journalists from ethnic media. Participants will be trained to effectively cover consumer finance issues including topics ranging from credit and lending, housing and mortgages to retirement planning and investing.
The Spanish course will be led by Xavier Serbia, the editor-in-chief and founder of Xavierserbia.com. Serbia is a personal finance syndicated columnist and has written for various Hispanic media outlets.
The English course will be led by Chris Roush, who teaches business and economics reporting at the University of North Carolina and has written six books, including two about business journalism.
The courses are divided into three parts:
- a six-week online training in personal financial journalism
- a six-week online mentoring period, during which participants will produce stories to publish them in the media
- a three-day field trip to New York City, where six selected participants will have the opportunity to interview with notable financial experts
At the end of the online courses, three participants will receive a McGraw-Hill Personal Finance Award and cash prizes of US$2,000, US$1,000 and US$500.
To apply for the course please follow the instructions below:
1. Visit https://e-learn.icfj.org.
2. Click on the application link in the language that you prefer (English or Spanish).
3. Login using your e-learn account. If you don’t have an account, click “Create new account” to register. After you register, you will need to check your email to confirm your account.
Wall Street Journal managing editor Robert Thomson sent out the following announcement Tuesday evening:
“We are pleased to announce the appointment of the excellent Rob Hunter as the Journal’s new Personal Finance Editor. Rob joins us from Bloomberg BusinessWeek where he’s worked since 2005 and was clearly the most outstanding journalist of his generation. He replaces Neal Templin, who will become an editor on Page One. Neal very capably ran the group for five years over two tours of duty, and has played a key role in improving our personal finance coverage.
“Rob is a seasoned and sophisticated journalist who most recently was assistant managing editor for features, essentially overseeing the magazine’s most important stories. Before that he was a senior editor in charge of finance coverage, including banks, hedge funds, private equity, markets, and corporate finance. During Rob’s tenure he edited more than 40 cover stories on subjects ranging from cyber war to emerging markets.
“He honed his skills at SmartMoney, where he was editor of the website. Before joining SmartMoney in 2000, he was Managing Editor of Derivatives Strategy magazine, so he can go toe to toe with the geekiest among us on CDOs, CDSs and whatever else is concocted by the derivatives deities. Rob got his start at Army magazine and the Waterford (N.Y.) Good News.
“Rob will oversee our newly launched but already successful personal finance section, Weekend Investor, and manage our personal finance staff. His mandate is to expand our coverage, both in print and online, while coordinating with Newswires and MarketWatch to give readers the best information possible about their finances. He will start on March 15 and report to Ken Brown. Please join us in welcoming Rob to the Journal.”