Tag Archives: TheStreet.com
Mike GannonÂ has beenÂ promoted to managing editor at TheStreet and is now overseeing all staff-produced content at the financial news Web site. He previously led TheStreetâ€™s coverage of the financial services industry as a deputy managing editor.
Gannon joined TheStreet.com in March 2007, after spending more than six years as a reporter and editor for The Journal News in Westchester County, N.Y. Earlier in his career, he covered venture capital, private equity and the IPO market for Thomson Financialâ€™s Venture Capital Journal and advertising for Sales-Fax, an independent trade weekly. He earned a B.A. in history from the College of the Holy Cross and an M.S. in journalism from Northwestern Universityâ€™s Medill School.
Also, Glenn Hall has taken over as editor in chief at TheStreet.com following the recent departure of long-timeÂ EIC David Morrow, who left to become the first Donald W. Reynolds Endowed Chair in Business Journalism at the Reynolds School of Journalism of the University of Nevada, Reno.
Hall was previously editor of TheStreet, a new executive position created in 2008 to work with the editor in chief on editorial and business strategies for the company. Before joining TheStreet, Hall served as deputy editor and chief innovation officer at The Orange County Register and as a news manager at Bloomberg News in Washington, Amsterdam and Frankfurt.
He also worked as an investigative reporter at The Journal-Gazette in Fort Wayne, Ind. Hall received a bachelor’s degree in journalism and political science from The Ohio State University and a certificate in project and program management from Boston University.
TheStreet.com’s Marek Fuchs wonders why Fortune magazine is giving coverage to Apple CEO Steve Jobs’ appearance at a Coldplay concert.
TheStreet.com media critic Marek Fuchs questions why some media outlets like the Associated Press haven’t questioned Apple more about the health of CEO Steve Jobs and why he’s working at home after returning from a health leave.
Ron Insana, who returned to CNBC earlier this year after a failed three-year venture into hedge fund management, is once again asking investors for money, according to Bess Levin at Dealbreaker.
Insana has teamed up with TheStreet.com to create an investment tool called Market Movers that allows people to invest alongside with the CNBC analyst.
His pitch reads, “With my new service you can actually see every trade I make and understand exactly why.
“Plus, if you join me now, you’ll get a $300 discount AND TheStreet.com’s brand new e-book 7 Stocks to Buy Now — that’s a $199 value absolutely free when you start Market Movers today.
“And here’s one more bonus: When you try my service, I’ll send you a complimentary copy of TheStreet.com’s brand new e-book, 7 Stocks to Buy Now. You’ll get stock picks from the best minds on Wall Street — including Jim Cramer, Doug Kass, Rick Bensignor and more – free when you join me at Market Movers today.”
Read more here.
TheStreet.com editor in chief David Morrow has been named the first Donald W. Reynolds Endowed Chair in Business Journalism at the University of Nevada-Reno.
Morrow hasÂ been atÂ TheStreet.com since 2001, supervising a staff of 65 reporters and editors. The site has won numerous honors, including “best enterprise reporting” and “best commentary” from the Society of American Business Editors and Writers last year. More than eight million unique visitors come to the site each month.
Morrow was inducted this year into the Digital Hall of Fame by the Media Industry Newsletter.
Before coming to TheStreet.com, Morrow was articles editor of SmartMoney magazine and a feature writer there, a business reporter for The New York Times, and a reporter for Fortune magazine.
“David has the perfect combination of deep experience in business news plus the understanding of journalism on the Internet that is so important to our school,” said Jerry Ceppos, dean of the Reynolds School of Journalism, in a statement. “He embodies so much of what we do: Marry the values of traditional journalism with whatever platform works best for delivery of that journalism.â€
“I am elated to join the staff at the Reynolds School at Nevada, Reno, and to be in a position funded by the Donald W. Reynolds Foundation,” Morrow said in a statement. “Both are on the cutting edge of guiding the future of business journalism, not only in teaching the next generation of professionals but in steering the future of the profession.”
Read more here.
TheStreet.com‘s Marek Fuchs thinks the business press went too easy on the automakers Wednesday in their coverage of May sales, which were still down by double digits.
Daryl Otte, the new chief executive officer of TheStreet.com, will receive a base salary of $425,000 and have the potential of earning a bonus up to $320,000, according to an SEC filing by the company late last month.
Otte will also receive 650,000 restricted stock units as part of his employment agreement, the filing disclosed.
His agreement also states that if he is fired without cause, he will receive four weeks of pay for every year he has been CEO and 1.33 weeks of pay for every year he has been on the board.
If the company is sold before Nov. 11, 2011, Otte would receive aÂ pay package of two times his base pay plus the bonus.
The filing can be read here.
Marek Fuchs of TheStreet.com posts a video about how business journalists didn’t question Dell’s recent one-time charge for “organization effectiveness” since it expects to take similar charges in the future.
TheStreet.com announced Tuesday that Darryl Otte, who has served as its interim CEO for the past three months, will become its permanent top executive.
A story on its site stated, “Otte, 47, has served as a director of the New York-based company since 2001, and he previously served as the chairman of TheStreet.com’s audit committee. He is a founding partner of Montefiore Partners, a venture capital investment fund management firm.
“‘The Board has great confidence in Daryl, based on his prior experience as well as his recent performance in the role of Interim CEO. I am delighted that he has agreed to lead the team,’ said James J. Cramer, TheStreet.com’s chairman, in a prepared statement.
“Prior to founding Montefiore Partners in 2000, Otte was senior vice president and a member of the executive committee of media company Ziff-Davis. While there, from 1995 through 2000, he initiated and managed acquisition and development projects and venture investments.”
Read more here.
TheStreet.com reported a first-quarter loss after posting a profit in the same quarter a year ago and said its revenues fell.
A story on the financial news site stated, “For the first quarter ended March 31, total revenue was $14 million, down from $18.9 million in the same quarter of 2008.
“TheStreet.com reported a loss of $3.1 million, or 10 cents a share, excluding a noncash impairment charge of $24.1 million, one-time restructuring costs and severance payments totaling $2.4 million, and a valuation allowance for a deferred tax asset of $16.1 million. Including those items, the company lost $45.7 million, or $1.50 a share, in the quarter.
“Of the impairment charge, $22.6 million was for goodwill and intangible assets, and $1.5 million was related to writing down a long-term investment.
“Analysts surveyed by Thomson Reuters were expecting a first-quarter loss of 3 cents a share, excluding items, and revenue of $15.4 million.
“For the year-earlier quarter, the company had net income of $2.4 million, or 7 cents a share.”
Read more here.