Archive for the ‘Wall Street Journal’ Category

Biz reporters in Davos


2010
01.26

Gillian Reagan of The Business Insider has compiled a comprehensive list of the business reporters in attendance at the World Economic Forum in Davos, Switzerland this week.

Reagan writes, “Reuters is sending their largest team of reporters to Davos, including 20 journalists plus editors and three columnists. Reporters Steve Clarke, Natsuko Waki, Gerard Wynn, Martin Howell, Peter Thal Larsen, Felix Salmon, Ben Hirschler and Krista Hughes will be on site.

“Bloomberg TV anchors Margaret Brennan, Andrea Catherwood, Francine Lacqua, Erik Schatzker and radio host Tom Keene are attending along with a small production crew.

“The Wall Street Journal held a contest on MySpace and is sending Sloane Berrett, a correspondent, to report on the panels and parties. Alan Murray, the Journal’s deputy managing editor, and Emma Moody, markets editor, will also be there.

“New York Times publisher Arthur Sulzberger Jr. is attending, along with columnists and reporters Nicholas Kristof, Thomas Friedman and Andrew Ross Sorkin.”

Read more here.

UPDATE: A Bloomberg spokeswoman says that Bloomberg has the largest team of journalists at Davos, with more than 60 on the ground.

More on Dow Jones restructuring


2010
01.25

Dow Jones & Co. president Todd Larsen – who took over the spot at the beginning of the year — sent this memo Monday to the company’s employees, further outlining who reports to whom in the corporate restructuring where four executives are leaving the publisher of The Wall Street Journal.

Larsen writes, “Dear colleagues,

“I would like to share with you today the structure of the new Dow Jones organization and some of the principal leaders.  Like most complex global media companies, we need a matrixed structure to operate efficiently while focusing on core products and customers, key functions and primary geographies.

“The new organization will have five business groups – each will operate with a clear profit and loss (P&L) approach:

  • The Wall Street Journal in print
  • The Wall Street Journal Digital Network
  • Dow Jones Financial Markets (includes Newswires and products geared to financial professionals)
  • Dow Jones Corporate Markets (includes Factiva and products geared to corporate markets)
  • Dow Jones Indexes

“These seven groups will provide functional support for those product teams:

  • Technology
  • Marketing
  • Enterprise sales and Client Solutions
  • Advertising sales
  • Circulation
  • Operations, including production and distribution
  • Strategy and development (including Dow Jones Ventures)

“And finally, we will have regional leaders in Europe and Asia.  These people will continue to manage our consumer businesses there while providing strategic direction for the overall growth of Dow Jones in each region.

“These are the leaders for each of those groups, all of whom report to me:

Kelly Leach becomes general manager of the Journal where she will be responsible for the business of the Journal in print.  She will manage the P&L, set a shared vision for the business and marshal the efforts of Journal colleagues to protect and extend this flagship brand and maximize its opportunities. Kelly previously was vice president for business management at the Journal.

Gordon McLeod continues as the president of The Wall Street Journal Digital Network. He is responsible for the Journal’s online business as well as MarketWatch and other digital products.

Joe Lanza becomes president of the Financial Markets group where he will oversee the core Newswires business as well as drive growth in vital areas such as investment banking, sales and trading, wealth management and private markets. He previously was vice president and managing director for sales and trading.

Scott Schulman becomes president for the Corporate Markets group. He will oversee the core Factiva business as well as drive growth in key areas such as research and knowledge workers, public relations and corporate communications, risk and compliance, energy and commodities, information services and business relationship intelligence. Scott previously was president of Dow Jones Financial Information Services.

Mike Petronella continues as president of Dow Jones Indexes where he has provided so much of the energy and imagination behind the success of our stock-index licensing business.

Dennis Cahill is named senior vice president for technology and will lead the new combined technology organization. His task is to integrate the former EMG and CMG technology teams and to spur the creativity we will need to hold the attention of readers into the future. Ruby Walia, who has done a phenomenal job in his two years at Dow Jones, will report to Dennis and help him lead the combined team to success.

“Jennifer Jehn joins Dow Jones as senior vice president for marketing. She will be responsible for brand marketing, advertising, customer research and customer service.  Jennifer previously was the senior vice president for marketing, online and human resources at the New York Post.

“Lee Wood becomes senior vice president for enterprise sales and client solutions.  He will lead the sales teams serving all our enterprise customers for both the Financial Markets and the Corporate Markets groups as well as the Client Solutions business.

Michael Rooney is chief revenue officer of The Wall Street Journal where he will continue to manage the advertising sales and marketing group.

Lynne Brennen, senior vice president for circulation, is charged with maintaining growth in circulation at the Journal and other Dow Jones consumer publications.

Joe Vincent, senior vice president for operations, leads the Journal’s production and distribution effort, including the ongoing projects to increase color capacity and move the point of production closer to the customer.

Ann Sarnoff is president of Dow Jones Ventures and also becomes senior vice president for strategy, adding to her portfolio by taking on strategy and business development responsibility in addition to her oversight of WSJ conferences and ventures.  Simon Alterman, who has been a valuable strategic resource for EMG, will report to Ann and help her define our strategy.

Andrew Langhoff remains publisher of The Wall Street Journal Europe and becomes managing director for EMEA for Dow Jones where he will add responsibility for the strategic growth of the company in that region.

Christine Brendle remains publisher of The Wall Street Journal Asia and becomes managing director for Asia/Pacific for Dow Jones. She too will take on leadership for the strategic development of Dow Jones in her region. Bruce Macfarlane has decided to leave the company but will work closely with Christine on enterprise strategy and Lee Wood on sales to ease the transition through the coming months.

“Also leaving the company in this transition are three executives on whom we have relied significantly. Richard Hanks, Bill Voltmer and Alan Scott have made huge contributions to Dow Jones, and they depart with our admiration and thanks.

“As you can see, we maintain a clear focus on key customer groups.  We remain committed to driving growth and improving our products for enterprise markets. And we continue to have a separate focus on developing our consumer businesses.  Yet this integrated structure enables us to be more efficient and coordinated.   With one technology organization, we can build things once and take advantage of that work in as many places as makes sense for customers.  This will allow us to bring better products to the market sooner.

“I know some questions about the structure remain unanswered, but we will have everything resolved soon.  Our objective in all this is to make sure Dow Jones remains a modern, agile company offering great products driven by great content.  Our success will be defined by how well we harness the power of our products and the creativity inherent in our people.”

Ritholtz: WSJ is no longer a must-read for investors


2010
01.22

Investor and blogger Barry Ritholtz argues that the changes at The Wall Street Journal in terms of coverage and story placement make it less relevant to the people who were previously its core audience — investors.

Ritholtz writes, “My bottom line for content is performance — if I can rely on something to provide me insight and information, it becomes a steady part of the media diet. Once I suspect they are no longer capable of that simple investor service, they go on a short leash. Eventually, they reveal themselves as money makers or money losers, and today, the WSJ crossed that line. They are now money losers to those who read them.

“Quite a difference a few years make.

“A specific article that led to this sad conclusion? The most egregious example (of many) I noticed was this front page headline: New Bank Rules Sink Stocks.  This is the sort of silly headline I expect from lesser media outlets, not the Journal. Without getting too philosophical, we know that day-to-day action is mostly nonsense. Selecting a causal factor from the cacophony of news releases, earnings, price data is all but impossible.  There is a whole lot of noise, and very little signal. Assigning a definitive causative factor is at best a guessing game, at worst an exercise in futility.”

Read more here.

WSJ names new head of health coverage


2010
01.20

Wall Street Journal managing editor Robert Thomson sent out the following announcement to the staff on Wednesday evening:

“We are delighted to announce that Stefanie Ilgenfritz, recently of Personal Journal, has become Bureau Chief of the New York-based health group. This is a vital role in which Stefanie will drive our coverage of the continuing debate about health care and costs, and their impact on patients, doctors, hospitals, employers and hypochondriacs. The group also oversees coverage of insurers, pharmaceuticals and other health companies, as well as science, Big and Small, and will contribute an increasing range of columns and articles for her old section, PJ.

“Stefanie is well suited to this role. She began her career at the Journal more than 19 years ago as a news assistant at the Monitor desk. She has worked at the Ticker, for the old regional editions, and Larry Rout’s Special Reports. She joined PJ in 2002, helped launch the sectuon and served as health editor before becoming deputy. She was an editor on two Pulitzer Prize-winning packages of health stories and had a stint at Page One. Stefanie is a graduate of the University of Michigan, and has a master’s degree in journalism from New York University. She reports to Matt Murray. We wish her all the best in covering this crucial area.”

New WSJ ad campaign aims to change perceptions about paper


2010
01.19

Gillian Reagan of The Business Insider examines the new advertising campaign for The Wall Street Journal, which uses the slogan, “Live in the Know,” and focuses on how the paper’s coverage of news has changed.

Reagan writes, “He said the Journal wants to attract new readers who might have a ‘dated view’ of the paper’s coverage. ‘We really wanted to invite more people who maybe haven’t read the Journal in two years and see what they can get out of it,’ Richardson told us.

“The campaign is mean to attract new readers to their paper, mobile and web editions. WSJ.com has about 4.8 million monthly unique readers per month and most of them are male and over 50, according to Quantcast. So they could use more women and younger users.

“A branding campaign that appeals to that crowd would fall in line with other Journal developments, including a new New York-centric culture section.

“In the video, young executives ride on subways and bustle around corporate offices. They scroll through the Journal’s iPhone app and spread open the print edition of the paper. ‘Right now, ten people are deciding the fate of thousands,’ the narrator of the video began, ‘A mother is choosing healthcare for her children and her parents. A young executive is preparing for a life-changing interview.’ There’s even a shot of a woman in an apron, standing in a storefront. The Wall Street Journal, according to the campaign, will be their ultimate guide for navigating, and being inspired by, the world.”

Read more here.

New WSJ book is “scrupulously fair”


2010
01.19

New York Times business columnist David Carr got a hold of the upcoming book about the sale of The Wall Street Journal from former Journal reporter Sarah Ellison and gave it high marks.

The book, titled “War at The Wall Street Journal: Inside the Struggle to Control an American Business Empire,”  is scheduled to be released in May.

Carr writes, “Beyond the newspaper itself, she makes quick work of some of the characters in the saga. Marty Lipton, the Bancroft’s family lawyer, was actually pro-deal from the jump and played both sides of the street with ease. Rich Zannino, the publisher who more or less delivered the newspaper into Mr. Murdoch’s hands, may not have fully understood the implications of what he was doing, but the blow was cushioned by a massive personal payout. Mr. Brauchli, now the editor of The Washington Post, was a seasoned organizational hand who managed up with alacrity and did everything he could to both please his new boss and appease the newsroom, but was shoved out of the way almost immediately by way of thanks.

“Gary Ginsberg, who has since left News Corporation, vigorously managed both message and process, and Ms. Ellison suggests he believed he might end up as publisher of The Journal. Peter Kann, the former journalist turned publisher, is depicted as imperious and clueless, and secretly blamed by many members of the family for the diminution of the franchise. The family characters are tough to keep track of — never have so many come together to do so little — but Chris Bancroft, who wore a ‘Bite Me’ baseball cap to the final meeting embodies the conundrum: He was personally opposed and voted his own shares against the deal, but was compelled by what he saw as his legal obligations to vote in favor of the shares he oversaw as a trustee. Leslie Hill was compelled to oppose the deal on behalf of the reporters who had helped build the modern franchise: ‘We owe it to them not to sell.’

“But the star of the book is clearly Mr. Murdoch, who had the single-mindedness to bide his time and then come up with a $5 billion bid that was so audacious it created its own gravity.”

Read more here.

Puzzle coming to Saturday WSJ


2010
01.15

The Wall Street Journal announced Friday that is adding a regular puzzle to its Saturday edition, beginning tomorrow.

“The Journal is already home to an outstanding Friday crossword, and readers will no doubt relish our new Saturday line-up of adventurous and addictive puzzles,” said Robert Thomson, editor-in-chief of Dow Jones & Co. and managing editor of The  Journal. “Our aim is to amuse and bemuse intelligent people.”

Following the regular Friday Puzzle in Weekend Journal, The Saturday
Puzzle rotation will feature:

* Emily Cox and Henry Rathvon, creators of the Atlantic’s Puzzler, will contribute a cryptic crossword every four weeks.  Readers who are new to cryptics, which rely on cleverness and wordplay, can consult a guide to solvers on WSJ.com;

* Patrick Berry, author of the “Puzzle Masterpieces” collection, and Mike Shenk, the Journal’s crossword editor, will offer a novelty word puzzle every two weeks that explodes the usual across-and-down grid and replaces it with snakes, snowflakes, honeycombs, and other mind-bending shapes;

* Shenk also offers an acrostic every four weeks, in which a solver fills in answers to clues and transfers the letters to a grid that spells out a secret quotation.

WSJ launches new ad campaign


2010
01.14

Steve McClellan of Adweek reports that The Wall Street Journal will launch a new advertising campaign next week using the slogan “Live in the Know.”

McClellan writes, “The work, created by New York ad shop mcgarrybowen, is the paper’s first major initiative since the ‘Every journey needs a Journal’ push that ran three years ago. (Mcgarrybowen also crafted that earlier campaign.)

“The new ads, which will run across broadcast and cable TV, print, online and out-of-home channels, aim to communicate the value of the information the WSJ provides in its daily coverage, stressing its ability to go beyond the headlines and sound bites of typical news outlets.

“Ads play up the WSJ’s drive to expand past business coverage into areas such as politics, world affairs and leisure pursuits — and they show how the issues of the day impact individual lives.

“One print execution, for example, is headlined, ‘Is your data showing?’ Copy discusses the ongoing societal debate about privacy in the digital age. ‘Are your rights about to be deleted?’ the ad asks. A video version will depict a couple assessing whether to post provocative ‘party pics’ on their social network page.”

Read more here.

WSJ Detroit bureau seeks auto reporter


2010
01.12

Wall Street Journal Detroit bureau chief Neal Boudette sent out the following e-mail to the newspaper’s staff on Tuesday:

“The Detroit bureau is seeking a hard-nosed reporter eager to grab a big chunk of what has become a once-in-life time story – the historic restructuring of the American auto industry.

“As the last 12 months have demonstrated, this is a fast-paced beat absolutely teeming with news and seemingly endless opportunities to write high-impact stories for A1, B1 and beyond.

“We want an energetic team-player with the smarts to mine an already-stacked source list and continue the bureau’s run of scoops. This person must also be able to round out the coverage will telling, inside-the-board room leders and features.

“Ambition and drive are required; auto experience isn’t.

“The job also comes with a pick-up truck load of fringe benefits. The lucky winner will get a free trip to Europe – for the Geneva auto show is in March, or the Paris show in October. As a member of the auto team, you’d also get to drive some pretty cool cars – ever heard of an Audi R8? Look it up.

“Lastly, the automotive ahed possibilities are almost illegal (see ‘Hot Rod Heaven: Speeding for Charity On a Utah Highway — As State Troopers Looked On, A Supercar Flew Off Road; Questions About Next Year,’ Aug. 19, 2006).”

WSJ Radio Network to provide multimedia widget


2010
01.12

The Wall Street Journal Radio Network has launched a multimedia widget for affiliate station Web sites.

The WSJ Radio widget displays continually updated content, including breaking audio business reports from The Wall Street Journal Radio Network, news and business news content from WSJ.com, video from the Journal worldwide and real-time market data from Dow Jones Indexes.

The WSJ Radio widget — designed and developed by Universal Mind using Adobe Flash Platform Services — allows stations to feature breaking business news on their Web sites 24 hours a day.

“Great radio stations satisfy listeners’ appetites for news and information online and on air,” said Nancy Abramson, executive
director, The Wall Street Journal Radio Network, in a statement. “Providing information across media platforms from America’s number one business news brand is an important addition to that menu.”

“The Wall Street Journal Radio Network is dedicated to creating
innovative ways for our affiliates to disseminate business news and
enhance interaction with their users. The new WSJ Radio widget, which
is both interactive and shareable across the web, is a complete
business news solution for affiliates’ Web sites,” said Abramson.