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What Has Become of Business Journalism?

Discussion in 'Journalism topics only' started by YankeeFan, Feb 9, 2014.

  1. YankeeFan

    YankeeFan Well-Known Member

    What Has Become of Sports Political Business Journalism?

  2. tapintoamerica

    tapintoamerica Well-Known Member

    It should come as no surprise that business journalism has lost whatever bark or bite it had. Journalism is more corporate and greedy than ever. Large media companies are eager to whack people anyway. Why would a business reporter do anything to make the establishment complain to his or her superiors at the country club?
  3. Alma

    Alma Well-Known Member

    You just have to be really damn good to do this kind of journalism, you have to take your time, you have to be well-paid, and you have to know nearly as much as the folks you're covering. And, beyond that, America's love affair with greed is such an addiction, so embedded in its DNA, that short of a Madoff personally ripping off his friends, you'll still have people who shrug at good journalism, citing the primacy of the shareholders above all other considerations.
  4. Mark2010

    Mark2010 Active Member

    Can't necessarily youch for the quality of reporting, but the number of city business journals keeps growing at a fast pace.
  5. Dick Whitman

    Dick Whitman Well-Known Member

    More than any other category of news, business reporting is viewed as "news you can use," because of its connection to the stock market, and treated that way. It's unfortunate that it is so toothless, though, because, outside of maybe court reporting, business reporters have more access to public record information than anyone else. It's all there for them.
  6. HanSenSE

    HanSenSE Well-Known Member

    When I've had business page duty, I much preferred practical stories to the barrage of "New widget store opens in downtown Podunk" stories that are the bread-and-butter of so many small shops.
  7. Boom_70

    Boom_70 Well-Known Member

    One of the few business writers actually worth reading is Gretchen Morgenson.
    For those paying attention she actually predicted the mortgage / housing meltdown in
    2007. Here is link to article - March 11, 2007. Worth a read to see how accurate that
    she really was. Will not forget the day. Actually made me take a close look at my
    financial plan and revise accordingly. Glad that I did.

  8. YankeeFan

    YankeeFan Well-Known Member

    But, a new cupcake store opened!
  9. Rusty Shackleford

    Rusty Shackleford Active Member

    I feel like so many of those are just, "New Walmart opens in town" and "List of people with a new job" rather than true business reporting. They're as much PR machines for the local mayor's office as anything. At least, the one in my city is like that.

    My theory for the lack of business reporting quality is that, in order to be a good business reporter, you have to have a thorough understanding of business, likely with a business or finance degree to go along with writing talent. Not many people have that combination of skills, and on top of that, those who do are likely going to be able to make a lot more money actually getting a job in industry somewhere versus being a business reporter for some news site.
  10. Baron Scicluna

    Baron Scicluna Well-Known Member

    Yeah, but it shut down right away. The 11-year-old owner didn't have the proper permits.
  11. kleeda

    kleeda Active Member

    Heck, Boom, I called the housing crisis in November 2006 on this very board when everyone was reminiscing on the dot.com bust. Where's my credit! Just kidding, but here's my post from back then.

    "And somehow the recent runup in home costs and the now "settling" of that great American asset seems to have stayed out of this conversation.

    Where do you think a lot of that stupid money went after the dot.com bubble burst? Granted though, as long as you can make the payments you can at least live in the house.

    Still -- and I've been saying it on here for a couple of years -- the day of reckoning in that sector is coming. Buckle up kids."
  12. The Big Ragu

    The Big Ragu Moderator Staff Member

    You are correct, kleeda. Except monetary policy hasn't just keep the housing market propped up -- mostly with institutional money using the cheap credit (we never learned our lesson) to buy up homes for investment purposes. The zero interest rates and asset purchases have created new bubbles in other places, too, notably the stock market. The correction is going to hurt people when it occurs.

    FYI, the 2008 crisis has come full circle. With revenues down, due to overall mortgage lending volume having plunged, I read today that Wells Fargo is reentering the subprime market. But don't worry -- it believes it has worked through enough of its crisis-era mortgage problems, particularly with U.S. home loan agencies, to be comfortable extending credit to some borrowers with higher credit risks! So they have that going for them.
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