GM to take future liability claims

The Associated Press reported today that General Motors will take responsibility for for future product liability claims, making it easier for the company to sell its assets and come out of its Chapter 11 a new company.
While GM did not offer this willingly (its hand was forced to take liability in order to sell assets,)it will help consumers hold GM accountable for defective vehicles it previously would not have assumed any liability for. From the story:

"The fact that 'New GM' will protect consumers injured by defective 'Old GM' cars is a positive development for public safety," The Ad Hoc Committee of Consumer Victims of Chrysler and GM said in a statement released Saturday. But the group said more needs to be done, noting that GM's concession doesn't help people that have already been hurt by its vehicles. It also said consumers hurt by fellow automaker Chrysler LLC still have little recourse."

View the story here.

Madoff gets 150 years for Ponzi scheme

The New York Times has reported that Bernard L. Madoff has been sentenced to 150 years in prison by a federal judge for operating a Ponzi scheme that has impacted thousands of people from all backgrounds and financial standings. From the story:

“I’m responsible for a great deal of suffering and pain, I understand that,” the 71-year-old financier told the court. “I live in a tormented state now, knowing all of the pain and suffering that I’ve created. I’ve left a legacy of shame, as some of my victims have pointed out, to my family and my grandchildren.”

View the story here.

What do you think of the sentencing of Bernard Madoff for his Ponzi scheme? How have you covered his arrest and trial? Comment and let us know or email us at businessjournalism@businessjournalism.org.

Media General appoints former Trib CEO to board

The Board of Directors of Media General, publisher of 21 daily newspapers, appointed Dennis J. FitzSimons, former Chairman, CEO and President of the Tribune Company, to the board Thursday. FitzSimons will be a member of the Audit Committee.

FitzSimons, who stepped down as Chairman, CEO and President of Tribune Company in December 2007 after a tenure of 25 years, completed the sale of the company to an Employee Stock Ownership Plan and Sam Zell before he left.

FitzSimons currently serves as Chairman and Director of the Robert R. McCormick Foundation. He is a Trustee of Northwestern University, the Museum of Science and Industry, and the United Way of Metropolitan Chicago.

View more details here.

Fellowship offering for Chicago 2016 Olympics bid coverage

The McCormick Foundation is offering fellowships to journalists who are covering economic aspects of Chicago's bid to host the 2016 Summer Olympic Games.
The fellowships are for a specialized reporting institute Sept. 13-15 at DePaul University's College of Communications in downtown Chicago that will include conversations of how reporters could cover the 2016 Games, if Chicago wins the bid.

Other discussions at the institute will include how neighborhoods could be affected by venue construction, the Paralympics competition held in host city for the games and comparisons between Chicago and Atlanta.

The fellowship funding will cover registration, travel and lodging for selected participants.
To apply, e-mail to McCormickSRI@depaul.edu or FAX to 773-325-7584:

• Name, street address, telephone and e-mail address
• Employer contact information, past or present
• A 200-to-300 word statement on how this program would benefit you, your audience and your community
• A one-page, up-to-date resume

Get the full details here.

Track the money trail from MJ's death

TheStreet.com follows the money trail for media from yesterday's unexpected news that reigning King of Pop, Michael Jackson died at the age of 50 in a video report released today.
While many news sources such as the Wall Street Journal reported that an overflow of online activity for sites like Twitter and other online news sources, the increase in traffic does not necessarily mean that those Web sites saw a jump in dollars from yesterday's increase in activity.

TheStreet.com's Alix Steel & Bill McCandless take a look at what impact Michael Jackson's sudden death had on media sites and if it actually increased advertising revenue dollars.

"Follow the Money" here.

Detroit Free Press cuts 22 staffers

The Detroit Free Press cut 22 staffers from its newsroom yesterday, according to Richard Prince's recent column.
Price covers minority issues for the Maynard Institute and said, "by one count, the Free Press eliminated 22 people in its newsroom, 18 of them journalists. Fifteen of them are women, six African American, two Hispanic and two are Asian American."
For more click here.

Bloomberg mag to expand in print and online

An expansion is in the works for Bloomberg magazine's print and online efforts, according to reports from the Financial Times.
The story says that the move comes after several recent key hires, including the new publisher of Bloomberg Markets magazine, Michael Dukmejian, who spent 26 years at Time Inc. Norm Pearlstine, the former Time Inc editor in chief, and Andy Lack, the former NBC News president, were also hired to help expand the reach of the company's editorial output beyond the traditional Bloomberg terminal.
From the story: “I think the magazine and the company are in a unique position today to do the kind of business journalism today that a lot of companies with strained resources aren’t doing,” Mr Dukmejian told the FT.

BusinessWeek.com's new look

Today BusinessWeek unveiled a newly designed home page for their Web site, the first step in complete overall of the site that will unfold over the next few months.
BusinessWeek's John Byrne said the new look is aimed to "increase repeat visits to the homepage, drive more from the homepage to the rest of the site via improved navigation, to clearly communicate BusinessWeek.com offerings and special features through intelligent use of navigation and page layout, and to focus the homepage offering on our core audience of global business professionals and their destination mindset."
Byrne added that Businessweek.com currently has 50 million monthly page views and some 10 million unique visitors worldwide.
New additions include the following:

* Increased news and analysis on the most important breaking stories of the day in business.
* Expanded coverage of the stock markets around the world with more detailed data on the companies that are making news in the U.S., Europe and Asia.
* A Business Exchange window to see what our users are reading and how they’re reacting to stories on more than 1,500 topics, from commercial space travel to Starbucks, from around the web.

For more click here.

Journalist sells Hollywood news site

Entertainment business writer Nikki Finke announced Tuesday that she has sold her news Web site, Deadline Hollywood Daily, to Mail.com Media Corp (MMC), The Wall Street Journal reported.

The sale is a move that may possibly hint at the growing value and popularity of small, online media outlets.

Finke, who has written for Newsweek, the Los Angeles Times and New York Magazine, is the founder and writer of DeadlineHollywoodDaily.com.

Finke has been the “Deadline Hollywood” columnist for LA Weekly since 2002, writing about the business, politics and culture of the infotainment industry. Together, her print column and her Deadline HollywoodDaily.com have won first place in major entertainment journalism contests, including the Southern California Journalism Awards' Entertainment Journalist Of The Year and the National Entertainment Journalism Awards, in which she swept every online category.
According to the Wall Street Journal story, neither Finke nor MMC Chief Executive Jay Penske, son of auto-racing magnate Roger Penske, would disclose the amount of the sale.

The Yale Forum offers up fellowships for biz journalists

The Yale Forum on Climate Change and the Media and the Metcalf Institute for Marine & Environmental Reporting are offering up to eight fellowships to experienced business journalists for the Society of Environmental Journalists' 19th annual fall conference on covering climate change.

The fellowships will provide expenses for travel and lodging for two days and SEJ registration fees.

Selected fellows will attend two special sessions on climate change as part of the conference Oct. 9-10 in Madison, Wisconsin.
Interested? Submit a one-page application letter specifying interest by July 10, to Bud Ward at The Yale Forum (wardbud@gmail.com) and Sunshine Menezes at the Metcalf Institute (sunshine@gso.uri.edu).

Applicants must also include a resume identifying contact information and current employer or outlets publishing freelance work.

Find more information here.

New COO for Pioneer Newspapers Inc.

Editor & Publisher reports that Mark Cohen, former vice president of advertising for Gatehouse Media in New England, has been appointed chief operating officer for Seattle-based Pioneer Newspapers Inc.

He takes over the post from Mike Gugliotto, who was named president and CEO of Pioneer newspapers in January.
Cohen has more than 25 years of experience in newspapers. Previous positions include director of sales and marketing for Morris Newspapers, and he was a vice president at Community Newspaper Holdings Inc.

The downturn reaches a Mongolian goat farm

Today, The New York Times ran an article called "Soft Market for Cashmere Takes Toll in China" that shows the yo-yo effect of the recession from America to China and back again.
The story speaks with goat farmers, yarn factory workers, and sales managers to trace what the drop in America's cashmere demand has meant for people in Mongolia and China.
Accompanying the article is an illuminating piece of multimedia. While a modest slideshow, it tells a strong visual story of the recession's impact on cashmere from a small Mongolian goat farm all the way to Saks Fifth Avenue in New York.
Stories that veer away from the obviously suffering industries (autos, banking, etc.) are more necessary than ever at a time when media organizations can get tunnel vision for the industries frying in the spotlight.
Covering the less blatantly struggling industries not only provides greater coverage diversity but adds detail to the overall picture of the economic recession to show that our problems are more widespread (both in the United States and abroad) than many perceive.
You can view the story here and the slideshow here.

What industries have you covered in the context of the recession? What's a strong piece of business multimedia you've seen? Comment and tell us about it or send it to The Pulse at businessjournalism@businessjournalism.org!

Photo credit: Timothy O'Rourke for The New York Times.

Jerry Lyst dies of cancer

Jerry Lyst, a former business editor and journalist for The Indianapolis Star, died today of cancer at age 76.
Lyst was known for his column “Money, Jobs and People,” and won a national Casper Award in 1969 for an article series on the difficulties of the unemployed finding jobs. He was also a past president of the Indianapolis Press Club. Jane Lichtenberg, The Star’s coordinator of community conversations, offered these thoughts:

“He truly cared about the community. He was a wonderful writer and very particular about getting the story right,”Lichtenberg said.

Learn more about Lyst here.

Athletes turned entrepreneurs

Portfolio has created a series of videos interviewing athletes who have become avid entrepreneurs. The athletes discuss lessons they've learned in the process of entering business and offer advice for aspiring industrialists. The athlete entrepreneurs include:

• Peggy Fleming
• Tate George
• Tony Hawk
• Eric Heiden
• Stacy Peralta
• Ray Pinney
• Jerry Rice
• Cathy Rigby
• Leonard Wheeler

These videos go beyond the traditional advice of business executives, delving into the real-life experiences of entrepreneurs striving to establish themselves through their innovation and athletic experiences.
The framing is intimate and creates the sense you're having a one-on-one talk with the speakers. Each interview is cut into 5 bite-size pieces both candid and inclusive for viewers, something all business journalists should aspire to in pieces on business individuals.
To view the videos, click here.

What do you think of athletes that enter business? What stories have you written lately on entrepreneurs? Comment and let us know!

Gannett to Webcast quarter earnings conference call

Gannett announced on its Web site today that it will be Webcasting its conference call discussing the company's second-quarter earnings with financial analysts July 15 at 10:00 a.m. EST.
The company’s earnings announcement will be released to news outlets and wire services before the market opens on July 15. Gannett will also post a transcript of the call and allow the public to replay the call on its site.
View the press release here.

How do you think Gannett has done in its second-quarter earnings? Comment and tell us.

Guild talks resume at the Boston Globe

Talks have resumed between the Boston Newspaper Guild and The Boston Globe, according to The New York Times.
Last week, the Boston Newspaper Guild rejected an offer from The Boston Globe that would have cut guild members' total compensation by 23 percent.
The resumed negotiations have been seen as an indicator that an agreement may soon be reached between the guild and the newspaper. The guild has scheduled a contract vote for July.
To view the blog post, click here. For an overview of the situation between the newspaper and the guild, click here.

10 ways J-Schools teach social media

Mashable writer, Vadim Lavruski outlines 10 ways that journalism programs across the country are preparing students to use social media as a tool in their writing and reporting.

Released today, the post outlines processes that schools such as Columbia University School of Journalism, University of North Carolina at Chapel Hill and New York University to gage the curicculum adjustments.

Lavruski finds that professors are encouraging students to use social media sites like Facebook and Twitter to build a source list, do background research and promote content.

View the article here.

Are you utilizing social media to work the biz beat? Tell us about your experiences in our comments section.

Star Tribune Co. files re-organization paperwork

Editor & Publisher reports that The Star Tribune Co. filed a reorganization plan in U.S. Bankruptcy court Thursday, with a goal to emerge from Chapter 11 protection this fall.

Publisher and chairman Chris Harte said in a statement that he is confident that the newspaper will be in better shape when it returns, but that he does have plans to leave the paper, eventually.
Since the Star Tribune entered bankruptcy in January, it has drawn up agreements with 94 percent of unionized employees.
The Star Tribune says the agreements reached cost savings the company needs: cutting labor costs by $20 million a year.

View the story here.

Gannett CEO takes medical leave

Gannett Inc. (GCI), Chief Executive Officer Craig Dubow will take an extended medical leave for a second round of back surgery, the Wall Street Journal reports.
According to Gannett spokeswoman Tara Connell, Dubow will likely be out for four months to address his persistent back problem.

However, she did say that he could return to work sooner than expected.
View the article here.

Financial journalist featured in SmartWoman magazine

FOX Business' Dagen McDowell recently did an interview with SmartWoman magazine about her career as a financial journalist. In the interview she details what she is most passionate about in finance, being a woman in the profession and the troubled state of newspapers.

From the interview:

''Q: Did you ever feel that people in the financial industry
didn’t take you seriously because you are a woman?

McDowell: Early on I got a great piece of advice from my editor at Institutional
Investor. Don’t refer to anyone as “Mr. So-and-so” when talking to them. Call them by their first names. Don’t subordinate yourself. That always seemed to work.''

According to Lakers fans, there's no recession

The Los Angeles Times reports that after the Lakers' victory Sunday night, the three Team LA merchandise stores pulled in 14 times what they did when the Lakers won a championship in 2002.

And the retailer's Web site had its best day ever, passing the previous high by 650 percent.

The article, written by Reynolds Center and Los Angeles Times intern W.J. Hennigan, takes a look at this spike in sales after the Lakers clinched another championship title.

View the story here.

WSJ appoints biz journalist as Europe editor

The Wall Street Journal has selected financial journalist, Patience Wheatcroft as editor-in-chief of its European operations, SmartMoney reports.

Based in London, Wheatcraft will head up a global growth push for mainly digital content.

Wheatcraft resigned as a Barclays PLC (BCS) director to take on the position at the Wall Street Journal.
Prior to her post at Barclays, she was editor of the U.K.'s Sunday Telegraph from 2006 to 2007 and prior to that served as business and city editor of The Times for nearly a decade.

View the full story here.

Register parent names new CEO

The board of Freedom Communications Inc., parent company of the Orange County Register, named Burl Osborne as interim chief executive, Tuesday.

Osborne is replacing Scott Flanders, who is leaving Freedom Communications at the end of June for a similar position at Playboy Enterprises Inc..
Osborne has served as an independent director on Freedom’s board since May 2004. He also served as Associated Press chairman from 2002 to 2007, and Dallas Morning News publisher from 1986 to 2001.

View the story here.

AP will lower newspaper fees and increase online revenue

The Associated Press hopes to negotiate more licensing deals with Web sites while lowering fees for U.S. newspapers, Chief Executive Tom Curley said Tuesday.

The AP is trying to find new sources of revenue to offset reduced income from newspapers and broadcasters.

In addition to having an increased interest in online advertising, the AP is again lowering its cost to U.S. papers next year.

The AP had lowered U.S. newspapers by $30 million this year. The AP will now reduce fees by a total of $45 million for newspapers and broadcasters next year, Curley said.

AP's actions are a response to a shift of more ads to less-expensive alternatives on the Internet. Its four largest online deals are now with Google Inc., Yahoo Inc., Microsoft Corp. and AOL.

Get the full story here.

Unforeseen Consequence

Today, The Wall Street Journal ran an online story discussing an unforeseen consequence of the auto-crisis and recession in Detroit.
While it was widely predicted Detroit's residents and businesses would suffer from the collapse of General Motors Corporation, few imagined the rate businesses would exodus from the city.
Retailers like Starbucks and Borders have pulled most of their locations from the city. The United Food and Commercial Workers union is thinking of building a grocery store due to a lack of national grocery chains and businesses selling fresh meat and produce. Residents of the city are struggling to get common goods readily available to them a few months ago. Car dealers have also started trekking from the 11th largest city in the nation. From the story:

"The lack of retail is one of the biggest challenges the city faces," said James Bieri, president of Bieri Co., a Detroit-based real-estate brokerage. "Trying to understand how to get it to come back will be one of the most important keys to its resurgence - if it ever has one."

Andrew Grossman's article strays from the collapse of GM and examines the extent the corporation's influence kept other businesses rooted. The story also acts as an interesting allegory of one corporation's ability to bring one of the largest cities in America to its knees.

View the story here.

What do you think of the backlash from General Motors in Detroit? What unforseen consequences of the auto industry crisis have you reported on? Comment and let us know.

Times Union employees reject outsourcing

According to the Albany Newspaper Guild blog, Time Union employees voted down a contract offer that would have allowed the company to outsource any job and layoff employees regardless of their time and seniority at the newspaper by a vote of 125 to 35.
View the blog release here.

What do you think of the employees' vote? How do you feel about outsourcing in the newsroom? Comment and tell us.

Fast Money's Macke no longer at CNBC

Jeff Macke, contributor to CNBC's Fast Money, is no longer with the network, according to Mediabistro's TVNewser.
After a controversial appearance from Macke May 19, many speculated he would be removed from his normal role on Fast Money, but Macke had several more appearances on the show before his time at Fast Money ended.
CNBC Spokesman Brian Steel announced Macke's departure today from the network, saying:

"Jeff is no longer with CNBC. We wish him all the best, and we thank him for his quality contributions."

To view the story, click here.

What do you think of Macke's departure from CNBC's Fast Money? Comment

The humanity behind the business

Earlier today, I posted an entry about Forbes' struggle to endure and how it has impacted employees. I then discovered a great example of a journalist finding humanity within a business story.
Simon Owens of Bloggasm kindly directed me to a piece about Steve McGookin, a Forbes journalist who took a severance package last year and is now attempting to hack it as a street performer in the New York subway system.
McGookin is using his time between journalism jobs not only to pursue other interests but to hone his reporting as well, blogging about his experiences at The Beat Below the Street.
Owens' article highlights the common struggle of journalists in an uncertain industry. Ownes and McGookin show that creativity and original journalism aren't confined to traditional media organizations and that opportunity is everywhere.
View the blog entry here.

Innovation in job loss

The Boston Globe ran an interesting online story today about airline design innovation.
The story tells how Emil Jacob, a man who recently lost his job at an economics consulting company, came to invent and patent a new airplane seating system to create less cramped conditions for passengers riding coach.
At a time when bad news keeps on coming for the economy and job market, this story highlights the opportunity one man made of his unemployment to follow other interests and better the services of an industry.
Finding positive stories in a dark economic time is a true challenge for business journalists. Yet if it is done well, journalists can give much-needed hope and inspiration to their downtrodden readers.
View the story here.

What stories have you written covering the positive repercussions of the recession? Comment and let us know.

Pinching Forbes

The New York Times reported today that even Forbes is feeling the squeeze of the economy.
While Forbes magazine has 920,000 subscribers, its average issue price has steadily decreased and its ad pages are down 15 percent in the first quarter compared to last year.
The article reports Forbes has stopped matching contributions to its 401k program, laid off roughly 100 of its 1,000 employees since November and started five-day unpaid furloughs for its staff.
In the story, Mark M. Edmiston of AdMedia Partners asserts Forbes isn't worth half the $75 million its worth has been estimated in the past.
Yet the Times reports that Forbes' misery isn't without company, with the Publishers Information Bureau listing revenue of over $338 million for Forbes, $276 million for Fortune and $236 million for BusinessWeek.
The story shows the recession is impacting both people's demand for Forbes' economic content and its employees' desire to cover it. From the story:

“Everyone here likes the magazine, the people who run it, and most of us believe in the mission,” said one editorial employee who asked not to be identified because he was not authorized to speak with a reporter. “But that sense of mission is sort of hard to sustain when most of the news is bad. Capitalism is a less sexy topic for everyone, including us.”

View the story here.

Is covering capitalism less sexy for you? What do you think about the struggling of Forbes and its competitors? Comment and let use know.

AP Stylebook adds business terminology

Business news is gaining popularity and the Associated Press' new entries for their 2009 edition Stylebook is proof that business journalism coverage is making an impact on both the industry and world.
Business terms such as credit default swaps and derivatives have been added to the book due to more frequent usage during the global recession, The AP announced this week. 
Other business terms added to the 2009 Stylebook are collateralized debt obligations, Libor, recession-proof, reverse auction, securitization and solvency.

Click here for more information on the changes made to the Associated Press Stylebook 2009 edition.

Reuters and SABEW team up for discussion session

It comes as no surprise that our industry is changing.

To help prepare for the needs of the future, Reuters and the Society of American Business Editors and Writers are teaming up to host a discussion with some of the top producers in business journalism.

The dicussion, being held Tuesday, June 30, will include the following panelists: 

Chrystia Freeland, US managing editor, Financial Times
Larry Ingrassia, business editor, The New York Times
Sree Sreenivasan, dean of student affairs & new media professor, Columbia Journalism School
Laurel Touby, founder & CEO, Mediabistro.com

The discussion will be moderated by
Betty Wong, global managing editor, Reuters.

Get full details here.

10 Commandments of social media

Fast Company social media blogger and co-author of The Social Media Bible, Lon Safko, outlined his 10 Commandments for success with social media for companies, products and individuals in his most recent post, today.

Social media sites like Twitter, have been thrust in to the spotlight recently with articles in numerous publications (like last week's Time Magazine article, "How Twitter Will Change the Way We Live").

And thanks to Safko's post, you can find ways to contribute in this social media-centric world.

View the post here.

Are you a part of the Twittersphere? Do you have a blog? Comment and let us know how you're engaging with social media.

USA Today plans digital edition

USA Today is planning to produce an electronic copy of the printed newspaper and charge readers to subscribe, publisher David Hunke announced today.
The electronic version will be available to subscribers via e-mail beginning Aug. 3 and cost less than printed editions of the newspaper.

Hunke also said that USA Today will be looking for more ways to charge for content, but that access to usatoday.com will remain free at this time.

View the story here.

Rocky Mountain News archives to go to Denver Public Library

Westword's Michael Roberts reports that the Denver Public Library and the Colorado Historical Society will preserve that Rocky Mountain News archives and artifacts.

In an announcement made this week,  Rocky's former parent company, E.W. Scripps noted that the library will assume ownership of the publication's archives, including all digital and paper newspaper clipping files, microfilm reels, digital and photographic files and marketing materials.
Negotiations between Scripps and the Colorado Historical Society for artifacts like signs, special editions and other information that documents the history of the publication are currently underway. 

From the story:

"This material is separate from the Rocky's intellectual property: the name, its web address and so forth. That material will be sold, and although Scripps hasn't officially acknowledged that it's getting serious about auctioning off these items, two major media players confirmed that the company has begun reaching out to potential bidders."

New York Times starts consumer blog

According to Talking Biz News, The New York Times will be starting a consumer blog focusing on issues like consumer protection. Larry Ingrassia, business editor for The New York Times, announced the creation of the blog in response to a reader's comment that asked why the paper didn’t have a consumer column.
View the story here. To see Ingrassia's announcement, click here.

RTNDA offers new financial reporting section

The Radio-Television News Directors Association is offering a new financial reporting section with story ideas, case studies and resources for reporters. It has everything from story ideas for local scams and foreclosure auctions to how to prepare academics and economists for live television interviews.
One great piece of advice RTNDA gives that journalists don't follow enough is to follow the dominoes. Following the micro ripples of the recession through local communities shows readers that journalists care. It also displays the real human casualties in an economic collapse too often portrayed as nebulous and impersonal.
Visit the site here.

How are you following the dominoes? Comment and tell us how you're tracking the recession in your community.

Boston Newspaper Guild rejects concession package, cuts ensue

With a 277 to 265 vote, The Boston Newspaper Guild rejected a package of concessions that included $10 million in wage and benefit cuts.
New York Times Co., which owns The Boston Globe , has said it will now have to impose a 23 percent pay cut on Globe union staff beginning next week in order to keep the paper functioning.
Said guild president Daniel Totten said of the vote:

"With today's vote, members of the Boston Newspaper Guild have said that The New York Times Company must do better than the offer that was presented. Globe workers and the New England community understand that the quality of The Boston Globe, an institution so vital to the life and culture of the region, depends on the fair treatment of the men and women who work so hard to produce it."

View the story here.

What do you think of the Guild's vote and New York Times Co. cuts? Comment and give us a piece of your mind.

Murdoch foresees paperless future for WSJ, all newspapers

Media mogul and News Corp. chief executive officer Rupert Murdoch said Monday in an interview with FOX Business’s Neil Cavuto The Wall Street Journal could be paperless in 20 years.
Murdoch said he believes almost all news will be delivered either digitally via computer or on portable devices like Amazon's Kindle within 10 years.
While the newspaper industry is currently struggling to change its business model, Murdoch said he believes newspapers will endure. From the story:

“My feeling is that we hopefully hit a bottom here where things will be pretty stable from now on. Not as good as they were a little while back. It’s going to take time to climb out of it. That’s okay,”

View the story here.

What do you think of Murdoch's predictions and a potentially paperless WSJ? Tell us in a comment.

When business and free speech collide

The Wall Street Journal was the first to report on China's recent mandate requiring all new computers sold in the country to contain filters restricting citizens from viewing pornography and other online content it deems harmful.
China has long been notorious for its online censorship, using it to quash movements it opposes (like the freedom of Tibet) and obscure the darker parts of its history (like the Tienanmen Square massacre).
The New York Times wrote an article mentioning the impact this regulation will have on American computer companies including Dell, Lenovo and Hewlett-Packard. While the story explains that companies are still examining the regulation, the anonymous industry executives it quotes seem more concerned with how it will set back production than how it will curtail the liberties of others. Says one executive on the regulation:

“The wording may be intentionally vague but the message is clear: we have no choice in the matter,”

This seems to be a popular view of many technology companies working in China. Yahoo helped Chinese Internet police arrest a dissident Internet journalist in 2007 and Google has helped China censor its searches for years now.
While business journalists have examined the moral implications of these companies' business decisions, it still feels that many are pulling punches. Cooperation with China's censorship flies directly in the face of many of these companies' purported goals and self-sculpted images. Journalists shouldn't hesitate to pounce on that hypocrisy.
As a whole, business journalists should call businesses on it when their products do harm to those they're supposed to serve. It not only helps the journalist and their readership, but the companies in bettering themselves.
Business journalism should never forget to emphasize what companies sometimes forget; in the end, there is always a choice.
View the article here.

What do you think about the current accountability of companies aiding in China's censorship? Comment and let us know.

OC Register biz reporter heads to Bloomberg

The OC Weekly reports that John Gittelsohn, a business reporter at the Orange County Register, is leaving the paper for a job at Bloomberg News in New York City.
The report says that Gittelsohn will cover national real estate topics for Bloomberg. His last day at the paper will be June 26.
Gittelsohn joined the Register as a education reporter, but is more recently known for his standout business coverage in South California.
From the story:

John came to the Register from the Sun Sentinel in Florida to cover K-12 education. He later reported OC's Asian communities, traveling to Vietnam and China on reporting trips, state government, including covering Arnold for two years in our Sacramento bureau, and, most recently, reporting on Orange County's rich and infamous, such as indicted Broadcom billionaire Henry T. Nicholas III.

Last day to ask your questions

Today marks the last day that you can submit questions to John M. Geddes, managing editor of the New York Times.

Prior to working for the Times, Geddes has held posts at BIS Strategic Decisions, The Wall Street Journal and the A.P.-Dow Jones News Service.

Email your questions to askthetimes@nytimes.com.

Click here for more information.

ESPN mag Web site to merge with Insider content

Come August, ESPN The Magazine's website will start charging for its content, the company announced this week.

The publication's content, which consists of a video series an ongoing web articles, will become part of ESPN's Insider content, which costs$6.95 a month, or $39.95 a year.

The Insider, which has about 350,000 paying subscribers, will still be available gratis to ESPN Magazine subscribers for one year.

View the story here.

NPR ombud sounds off on "Planet Money" interview

NPR ombudsman, Alicia Shepard, walks readers through a heated NPR podcast for Planet Money in a new blog post. 

The podcast, controversial because of host Adam Davidson's unprofessional interview tactics last month with TARP watchdog Elizabeth Warren, was the cause of numerous listener comments via e-mails and voice mail messages. 

The Planet Money blog also received a record- 788 total comments about the interview.

From the post:

"It's important for journalists to treat whomever they are interviewing with respect -- and to keep their opinions to themselves. Davidson did neither. Instead, Davidson conveyed that he didn't think Warren was doing her job properly. He admits that his anger was misdirected. "

Business news has new significance

The Minneapolis Star-Tribune reports that since the sink of the economy, viewership for business and financial news has risen, leading to the popularity of finance news and the journalists who cover it.

The story notes that national networks like CNBC, CNNMoney.com and Fox Business Network have all seen an increase in viewers since the Lehman Brothers filed for bankrupcy Sept 15, 2008.

And primarily female reporters covering the financial meltdown have gained esteem on the beat.

From the story:

"Sandra Smith, a reporter for Fox Business Network, has a less piggish take on why women reporters have stood out in the last couple of years.
'I think females can do a very good job of showing the softer side when covering these kinds of stories,' said Smith, who hails from Chicago. 'I can't tell you the number of victims I've talked to who have lost so much of their net worth. You can't just treat them like their only purpose is to fulfill a story.'"

Miami Herald appoints new biz editor

In the midst of a economic downturn, reporters on The Miami Herald's business desk are working to tell the story about how the economy effects its readers.
And now they'll have a new editor leading the charge - Jane Wooldridge, a 26-year newsroom veteran who was appointed to the lead biz role this week.
Wooldridge is currently the paper's travel editor. A story in the Herald says that she was chosen for "her combination of long service to the newspaper, experience with entrepreneurial projects, knowledge of the business community and strength of new ideas for the section."
From the story:

"Wooldridge said she foresees no dramatic change in the section's direction. "The core stories that we have told we will continue to tell rigorously. We want stories that are useful and relevant to readers."

Philly papers to charge for online content

By the end of this year, The Philadelphia Inquirer and the Daily News will charge for online content.
In a Reuters story, Brian Tierney, chief executive of the company that owns the papers, also said he has plans to take on Google over possibly getting money for Philadelphia Media Holdings from its content that resides on the search engine’s site.
From the story:

"In the case of the Philly papers, Tierney’s company is going through Chapter 11 bankruptcy reorganization proceedings. With the company’s life on the line and a $53 million newsroom to run, what’s the harm in trying?"

Hopkins to halt Gannett Blog

Jim Hopkins, founder of Gannett Blog, announced that he will cease the publication on Oct. 1.
The blog, which was founded in 2007 and chronicles stories about Gannett Co. and its employees, gained immerse popularity quickly after it was launched. Currently, its readers are projected to post more than 50,000 comments in a 12-month period.
But Hopkins says the tone of the blog has changed as employees fear for their jobs and worry over troubles in the newspaper industry.
And he added that Gannett Blog was intended only as a short-term project.
Hopkins plans to freeze the blog in October and leave all content up. He predicts and hopes another blogger will pick up where he left off.
From the blog:

"I intend to lock the blog in place, with all content and comments visible. No more comments will be allowed, nor removed. Basically, Gannett Blog will become a point-in-time snapshot of a Fortune 500 company in transition. I hope to find a permanent custodian for the content, in lieu of Google's Blogger division."

Biz Journalist wins Livingston Award

Wall Street Journal business reporter, Kate Kelly, is one of three winners of the $10,000 Livingston Awards for Young Journalists for 2008 work.

Kelly won the award in the national reporting category for "Lost Opportunities Haunt Final Days of Bear Stearns," her three-part series on the collapse of the Bear Stearns company.

The Livingston Awards are limited to journalists under the age of 35 and are awarded in local, national, and international reporting. 

The 50 finalists for this year's competition were widdled down to three and winners were announced today by Charles Gibson of ABC News, Ken Auletta of The New Yorker and Anna Quindlen of Newsweek today.

View the winners list here.

A future personalized

Fast Company recently posted an article describing what IDEO, a global design consultancy used by Fortune 500 companies, believes journalism will look like after its traditional business models have collapsed.
The article criticizes news organizations for their loss of credibility, clunky and inefficient distribution systems and for marginalizing consumers in the dialogue of how to save journalism.
Yet IDEO still has hope for the future of news. It forsees a future of highly-contextualized hyper-local citizen journalism that contributes to a dense web of collective knowledge thriving on immediacy. From the story:

In these scenarios, we see that information has become even more personalized and hyperlocal--and, paradoxically, more communal, participatory, and global. Journalism is more like having a conversation. People speak with unique voices, take ownership of content, and establish credibility, which in turn enables strong communities in which news can thrive.

View the story here. See discussion about the future of journalism here.

What do you think of IDEO's vision of journalism's future? Comment and tell us.

Daniel Hertzberg leaves WSJ after 32 years

According to Editor & Publisher, The Wall Street Journal's deputy managing editor Daniel Hertzberg is leaving the news organization June 30 after 32 years at the paper. In an email to the newsroom, Hertzberg expressed gratitude for his time at WSJ:

As a reporter and later an editor, I have been lucky enough to participate in the growth of one of the world’s finest journalistic institutions, which values breaking news, lucid analysis and top-notch investigative and narrative journalism, delivered with fairness and balance.

A replacement for Hertzberg has yet to be named.
View the story here.

Road to Ruin

MSNBC has created an interactive timeline charting the major business milestones of America's auto industry over since 1978. It also charts the stocks of General Motors Corp., Ford Motor Company and Chrysler as well as gas prices per gallon, new car dealerships, dealership employees and new vehicles sold.
There can never be too much context with complex issues like those plaging the automotive industry right now, and MSNBC helps give a fresh look at the big picture with its interactive media.
View the timeline here.

GM bankruptcy-what does it mean for me?

The Wall Street Journal has written an essential piece summing up how General Motor Corp.'s application for Chapter 11 will impact new-car deals, resale value, warranties, service and other car makers.
Summing up the Chapter 11 repercussions on businesses and individuals in layman's terms is the only way to address that ever-important question: What does it mean for me?
View the story here.

GM bankruptcy: an opportunity?

The New York Times journalists Jack Healy and David Stout wrote an interesting piece today examining the positive spin the White House and General Motors Corp. are trying to put on the company's recent filing for Chapter 11 bankruptcy.
Great analysis like this of how business events are framed by those involved will never fail to serve readers a healthy dose of perspective.
From the story:

"In Washington, Mr. Obama was more than halfway into a speech before he mentioned the word "bankruptcy” in the same breath with “G.M.” Fritz Henderson, the company’s chief executive, spoke for 20 minutes at a news conference before saying the b-word. And a press release from G.M. described the move as a 'fast track to competitive future.' "

View the story here.

GM chairman to resign, five GM directors to keep seats

General Motors Corp. Chairman Rick Wagoner is being forced to resign, according to The New York Times.
Five of G.M.'s 12 directors will keep their seats, according to The Wall Street Journal.
View the story here.
For a great overview of G.M., click here.

Need other information or resources? Comment on The Pulse and we will help get it for you.

Making lemonade out of newspaper dispensers

The New York Times recently ran a story on artists and entrepreneurs capitalizing on the newest casualties of the struggling news industry-newspaper and flyer dispensers.
The dispensers have been transformed into everything from flower planters to digital displays that show the front page morning news.
Perhaps media organizations should take the cue and think of ways to make their products and distribution more environmentally and socially beneficial.
View the story here.

What do you think about the dispenser makeovers? Comment and tell us!

JobsPage relaunches with eNewsletter

Joe Grimm, the former recruiter for Freep.com, has relaunched JobsPage and created a new eNewsletter to accompany it. The Web site offers "Career Strategies for Journalists" and provides workshops, articles with career advice, journalism job/internship listings, an "Ask the Recruiter" section, and more.
Check out the new site here.

Deadline for ICFJ personal finance for Hispanic journalists June 8

The application deadline for International Center for Journalists' two online personal finance training courses is now June 8.
Hispanic journalists and U.S. journalists covering Hispanic issues in the U.S. and Puerto Rico can take the courses in Spanish or English from June 15 to September 14.
The courses will teach journalists about credit, lending, housing, mortgages, retirement planning and investing, and other issues.
Three participants will receive a McGraw-Hill Personal Finance Award and cash prizes of US$2,000, US$1,000 and US$500 at the end of the course. The winners will also participate in the McGraw-Hill Forum for Hispanic Financial Literacy.
For more information and online application click here.

GM plant closures

The Wall Street Journal has a short, straightforward story on the 17 factories and part centers General Motors Corp. will be closing as part of its Chapter 11. The story lists the plants by their town and state locations. WSJ states that G.M. plans to cut roughly 20,000 factory jobs (more than 1/3 of G.M.'s U.S. workforce).
According to the story, 3 plants may "reopen if market demand rebounds." The story also mentions G.M.'s plans to convert a factory currently unused into a place to construct small cars.
View the story here.

GM overview

Portfolio.com has a great overview of General Motors Corp. including:

• Its chief executive officer and contact information
• Recent news on the company
• The number of employees at G.M. and revenue per employee
• Quarterly and annual financial information
• Stock information

View the overview here.

GM bankruptcy resources

The Los Angeles Times has created a list of General Motors Corp. top 20 unsecured creditors with the type and amount of claims each has in G.M., a great resource for reporting how G.M. filing for bankruptcy will affect other organizations. It also has great graphics on the number of union workers at G.M. and G.M.'s global sales by region.
The New York Times also has enlightening multimedia on G.M.'s current predicament, including a timeline graphing G.M.'s history from 1908 to today chronicling its struggles and successes up to the Chapter 11. Its graph contrasting the amount of cars and trucks G.M. has been producing since the 1960s is also very insightful. A NYT map showing the number and locations of jobs the company has cut in the past two years helps show where plants may be closed and jobs may be lost in the aftermath of the bankruptcy filing.
Click here to see the most recent press releases from G.M.

Have other information or resources you'd like us to find for you? Comment and let us know.

GM retirees get the shorter end of the stick

A flood of stories on General Motors Corp. washed over the unsuspecting public this morning. As of 10:04 am MST, there were 52,479 stories on Google News about G.M. filing for bankruptcy.
While many stories covered the necessary basics of what happened, some went beyond to look at the more detailed picture of the company's financial collapse. Forbes' story "A Sickening Outcome For GM Retirees" is a good example of highlighting the personal and devastating in what could be the faceless falling of a company.
At a time when people are still waiting to see the full fallout of a company's chapter 11, it's important to remember the people at the heart of the company and the story.
View the story here.