Tag Archives: Wall Street Journal

Wall Street Journal

WSJ named most influential biz news outlet; Sorkin named most influential biz journalist


The Wall Street Journal remains the most-influential financial news organization in the country, according to survey results released Thursday.

The Journal was nominated as the most influential financial news organization by 83 percent of the nearly 500 financial journalists who responded to the survey in November and December. Bloomberg News was second with 58 percent,m while the New York  Times was third with 31 percent. The Financial Times moved up to fourth, while Reuters moved down a spot to fifth.

The survey, done by DePaul University professors Matt Ragas and Hai Tran, was released Thursday by Gorkana. It also found that financial journalists are slightly less positive on the health of business journalism they they were two years ago.

“The small uptick in negative opinion could be due in part to layoffs over the past year by major business news organizations like Bloomberg News, Thomson Reuters and Dow Jones,” the study noted. “While the outlook for financial journalism remains stronger than in many other areas of journalism, these reductions do not help instill confidence.”

Andrew Ross Sorkin of the New York Times and CNBC was named the most influential business journalist for the second time in a row. However, coming in second, was Jon Hilsenrath of The Wall Street Journal. Hilsenrath was not listed among the most influential when the survey was last done two years ago.

When relying on sources, business journalists said academic experts are the most credible, followed by a company CEO and then a technical expert in the company.

The survey can be found here.


WSJ names central banks projects specialist


Nell Henderson, global central banks editor in Washington for The Wall Street Journal, sent out the following announcement:

We are delighted to announce the appointment of Paul Hannon as our Central Banks Editor/Project Specialist, based in London.

We expect Paul will play a vital role in expanding and deepening our coverage of central banks around the world, particularly in the U.K. and Europe. His experience suits the new post perfectly. He joined Dow Jones in 1993, initially reporting on the development of emerging markets, culminating in the crises of 1997 to 1999. After 2000, he wrote about European economies, including central banks. From the mid-2000s, he managed teams of reporters who covered economics, central banks and the bond markets, and who were heavily involved in reporting on the financial crisis and the euro-zone crisis that followed.

He was born in Nigeria and grew up in Ireland, graduating from Trinity College Dublin with a BA and a Masters of Literature in Economics.

Paul will report to Nell Henderson in Washington D.C. while also working closely day-to-day with Dagmar Aalund in London.

Please join us in congratulating Paul on his new role.

Gerard Baker London

WSJ is embracing the digital revolution


Wall Street Journal managing editor Gerard Baker spoke Monday at the City University of London, and Journal social media editor Sarah Marshall took notes about his talk and posted them on Google Docs.

Here were some of Baker’s points, according to Marshall:

5 key things the Journal is doing that news orgs need to pursue

1. To genuinely embrace the digital revolution. News orgs need to completely change the culture. “We have to fundamentally rethink our product and reshape it for the digital age,” says Baker.

2. We need to be genuinely independent. You cannot become dependent on the companies on which you are reporting. We need to be mindful of journalistic ethics and standards.

3. We need to get the balance right in our journalism. “The primary function is accountability,” Baker says. The public sector and the corporate sector need to be held to account.

4. Business news orgs need “a higher degree of specialisation”. People talk about niche content in digital, focusing on specific areas. There’s still a role for a wider role, but there are business opportunities for offering specialised “verticals”, specialising on particular areas. Today launched a vertical aimed at media and marketing. It’s called CMO today.

5. There is an opportunity to become a genuinely global business news organisation. And as emerging economies arrive on the world stage there is a huge opportunity for a news org like the Journal. The Journal will be making a push in the next year or so to do that.

The demand for honest, fair business journalism is not going away, there’s a huge audience for that, says Baker.

Read the rest of Marshall’s notes here.

David Bird

Search resumes for missing WSJ reporter


New Jersey authorities have resumed searching for missing Wall Street Journal reporter David Bird, who has been missing since Jan. 11, reports Louis C. Hochman of NJ.com

Hochman writes, “Hundreds of people had been involved in the search for Bird, 55, after he went out for a walk Jan. 11 and never returned. For several days, rescuers from several area agencies amassed in and around Long Hill, looking through fields, checking the Passaic River and its banks and knocking on doors. State Police flew overhead as dive teams ventured into the river. County Park police were out looking on horseback and on ATVs,

“Outwardly visible signs of that search died down over time.

“‘During the winter months and extreme weather the investigatory portion of the investigation had continued,’ police said in the Facebook update. ‘All leads were followed up on and unfortunately there has been no confirmed information that would assist with locating David Bird.’

“Bird is required to take medication for a liver transplant twice a day, police have said. He left the medication home when he went out for his walk, they said.”

Read more here.

CMO Today

WSJ launches CMO Today


The Wall Street Journal rolled out Monday its new CMO Today product aimed at chief marketing officers and advertising executives.

The news of the product was originally reported earlier this month by Talking Biz News.

CMO Today will take a deep and investigative look at all aspects of marketing, including how social and mobile are transforming the industry, along with how television and print media are endeavoring to keep up.

“CMO Today allows us to expand our coverage of some of the most interesting and fast-changing parts of the advertising and media businesses, where digital technology is intersecting with marketing,” said Martin Peers, the WSJ’s media and marketing bureau chief, in a statement

The new vertical has a full time staff of five, headed up by the WSJ’s newly-appointed Advertising Editor, Suzanne Vranica, who has nearly 15 years’ experience covering Madison Avenue at the Journal.

Other members of the CMO Today team are Mike Shields, formerly digital editor of Adweek and previously a senior editor at Digiday, who in the late 1990s through early 2000s himself worked on Madison Avenue as a media buyer at ad agency Lowe Worldwide; Jack Marshall, formerly of Digiday, who has recently authored investigations of fraud in online ad networks; Nathalie Tadena, formerly of Dow Jones Newswires who most recently worked at data analytics firm Dataminr; and Steven Perlberg, who joins the Journal from Business Insider, where he covered Wall Street and finance.

Wall Street Journal

WSJ accused of violating video privacy law


Dow Jones & Co. has been hit with a potential class-action lawsuit accusing it of violating federal video privacy laws with the Wall Street Journal‘s Roku app.

Wendy Davis of MediaPost.com writes, “Georgia resident Terry Locklear alleges in her complaint that the news company’s app automatically transmits information about the Wall Street Journal Live clips that users view — along with the serial number of their Roku devices — to the analytics and video ad company mDialog. Locklear argues that this activity violates the Video Privacy Protection Act, which prohibits video providers from revealing consumers’ personally identifiable information without their written consent.

“‘Unbeknownst to its users … each time they view video clips or news reports, the WSJ Channel sends a record of such activities to an unrelated third-party data analytics and video advertising company called mDialog,’ she alleges in her lawsuit, filed last week in U.S. District Court for the Northern District of Georgia. ‘The complete record is sent each time that a user views a video clip or news report, along with the serial number associated with the user’s Roku device.’

“Locklear asserts in the complaint that a Roku’s serial number is a ‘persistent identifier’ that can be matched with users’ identities to reveal ‘a wealth of extremely precise information’ about them. ‘Software applications that transmit a Roku’s serial number along with the user’s activity provide an intimate look into how the user interacts with their channels, which can reveal information such as the user’s political or religious affiliation, employment information, articles and videos viewed, and even detail about the sequence of events in which the user interacts with their Roku,’ she alleges.

“Dow Jones did not respond to a request for comment.”

Read more here.


Study: Stock market blogs beat financial news articles


The tone of stock market opinion blogs published on investor forum SeekingAlpha.com predicted stock returns, as well as earnings surprises, above and beyond what was evident from Wall Street analyst reports and financial news articles, according to researchers from City University of Hong Kong, Purdue University and the Georgia Institute of Technology.

Yuliya Chernova of The Wall Street Journal writes, “The researchers also noted that Seeking Alpha predicted stock returns above what was evident from news articles. The report used news stories published on Dow Jones News Service, which is a part of Dow Jones & Co., publisher of The Wall Street Journal. Dow Jones declined to comment.

“Overall, the findings fit with prior analysis in other fields on the way crowds can outsmart, or at least be just as smart, as professionals. Studies have shown, for example, that Wikipedia accuracy is similar to that of Encyclopedia Britannica.

“Crowd platforms have other advantages over professionals, besides accuracy — Seeking Alpha, for example, covers a greater stock universe than stock analysts, and Wikipedia has more subject entries than Encyclopedia Britannica. Plus, both get updated and revised as things change more quickly than their professional counterparts, Dr. Hu said.”

Read more here.

WSJ Mansion

WSJ real estate team looking for three staffers


Constance Mitchell-Ford, who heads the global real estate and property bureau for The Wall Street Journal, sent out the following message on Tuesday:

Real estate is booming again—well, sort of—and the bureau that covers the sector has several job 0penings, as listed below.

Deputy Bureau Chief  —The global real estate bureau is seeking an experienced journalist to help guide coverage of residential and commercial real estate for online and print. A key component of the job involves shepherding Property Report, the commercial real estate section that runs weekly inside Money & Investing. The ideal candidate should have financial writing experience, knowledge of the business and investing aspects of commercial and/or residential real estate and have strong editing skills. The job requires an editor who can conceptualize sophisticated stories, manage a team of reporters in New York, work with reporters and bureaus around the world on features and deliver print-ready copy. Candidate should contact Matt Murray or Constance Ford.

Housing Reporter — The global real estate bureau is seeking a reporter with a track record for breaking news and an ability to understand financial issues to cover housing policy, mortgage credit and two complex housing-related companies: mortgage behemoths Fannie Mae and Freddie Mac,  which together with government agencies fund more than four in five new home loans. The reporter will have a front row seat into major policy and political debates over the future of the $10 trillion U.S. housing-finance market as Congress and the White House struggle to deal with what to do with the failed—but now very profitable—companies. The beat also requires stepping back from the legal and political debates to explain clearly which borrowers are getting access to mortgage credit and under what terms. The ideal candidate should be able to write sharply on how housing and mortgage trends impact the economy, regulation and credit. The reporter will be expected to work closely with other reporters covering housing trends and home-building to more fully illustrate how these developments are helping or hindering the U.S. housing recovery and the broader economy. Candidate should have at least five years of reporting experience. Candidate should contact Constance Ford.

Commercial Real Estate Reporter — The global real estate bureau is seeking a reporter with a track record for breaking news to cover the financial and investing aspects of commercial real estate. Despite the real estate bust a few years ago, the world’s biggest investment firms continue to bulk up on commercial real estate, making the sector an increasingly important asset class for investors. And they’re using ever-more-clever financial tools to leverage their purchases. While following the big money is key to covering the beat, following the small investor is also important. With bond yields skimpy and stock prices volatile, an increasing number of mom and pop investors are turning to real estate in the search for higher yields and income, with mixed results. The ideal candidate should be able to break news, write fast and deliver copy that is clear and precise.  The reporter will be expected to work closely with other reporters covering commercial real estate, which includes hotels, shopping malls, office towers, apartment buildings and industrial space. Candidates should have at least five years of reporting experience. Candidate should contact Constance Ford.



WSJ’s Brussels staff reshuffled


Stephen Fidler, who oversees coverage from Brussels for The Wall Street Journal and Dow Jones Newswires, sent out the following staff changes:

I’m delighted to announce a great new addition to our ranks in Brussels, and some reshuffling of responsibilities within the bureau, aimed at building on our growing reputation as a source of fresh, reliable and original news and analysis from the capital of the European Union.

Viktoria Dendrinou has joined us from Reuters Breakingviews, where she has worked since 2012. Before that, she was a Nico Colchester Journalism fellow The Economist in London. Viktoria has a degree in Philosophy, Politics and Economics from Oxford University, where she studied at Jesus College, and an MSc in Economics from University College London. She will take over responsibilities for covering EU financial regulation. She speaks French and Greek.

Tom Fairless, who has been a constant source of scoops on financial-regulation since arriving in Brussels in February 2013, will move to the competition beat, where he will cover the EU’s response to mergers and acquisitions, cartels and market abuse. He speaks French and German.

Vanessa Mock, who has covered competition for us superbly since she joined in April 2012, will take over our coverage of EU energy and climate policies. She speaks French, German, Dutch, Spanish and fairly solid Italian.

Because of the large number of international meetings and policy matters to cover from Brussels, expect to hear from them also on areas outside their primary specializations.

Steven Perlberg

Perlberg leaving Business Insider for WSJ


Steven Perlberg, a markets and finance reporter for Business Insider, has resigned to accept a reporting position at The Wall Street Journal.

Perlberg will be covering digital media, marketing and advertising at the News Corp. business newspaper.

“I’m really excited to get started, but I’m also sad to be leaving Business Insider,” said Perlberg in an email to Talking Biz News. “I learned so much there and can’t thank my editors enough — Sam Ro, Joe Weisenthal, and Linette Lopez — for taking a shot on a summer intern. There will be more details on my new role at WSJ, but I’ll be starting April 1.”

Talking Biz News reported last week that The Journal is readying a new product called CMO Today aimed at readers interested in marketing and advertising news.  It has appointed an advertising editor and hired two other reporters — from Adweek and Digiday — to cover advertising and marketing.

Perlberg previously interned at the St. Louis Post-Dispatch, where he covered the health beat, and at ThinkProgress, where he wrote about politics. He graduated from Washington University in St. Louis with a B.A. in political science and anthropology.