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Posts Tagged ‘Wall Street Journal’

Score That Job: Dow Jones

If our recent Cubes episode giving you an insider’s look at Dow Jones and The Wall Street Journal made you think about working there, here’s your chance to find out how to make that happen.

Vicki Salemi, mediabistro’s very own career expert, author and editor sits down with Meredith Lubitz, vice president of Talent Acquisition at Dow Jones to hear what it takes to go from candidate to employee.

A couple of hints? Who you are outside the office is just as important as who you are inside. So tighten up that social media presence. They want to know what you’re saying to the world.

You can view our other MediabistroTV productions on our YouTube Channel.

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Mediabistro Job Fair

Mediabistro Job FairLand your next big gig! Join us on Janaury 27  at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media companies, network with other professionals and industry leaders, and land your next job. Register now!

‘Wall Street Journal’ Integrates Newsroom

Okay, we’re not going to report about layoffs. Really. That would be speculating and right now, courtesy of JimRomenesko, there is news that a major Dow Jones property is streamlining efforts.

What we will mention, however, is an excerpt from an email from Robert Thomson, managing editor of The Wall Street Journal as it outlines integrating staff into one “single newsroom.”

“We must now begin a new phase of integration, creating a single newsroom that does away with duplication and puts extra emphasis on scoops, thoughtful analysis and deeper reporting. The aim is to fashion an editorial engine that will drive content for all of our platforms, from the print Journal to a real real-time news service and customized digital feeds for specialist readers. For that strategy to be successful, total integration must be our imperative, not to cut costs (though spending, like imbibing, should always be done in moderation), but to make the most of our peerless journalism.”

Decrease in Compensation for CEOs

It’s hard out here for CEOs. According to preliminary results from a new study by The Wall Street Journal and Hay Group: “Despite fairly significant gains in companies’ profit and revenue, total direct compensation for 65 CEOs in place at least two years rose just 1.4% last year.”

This figure is down from an 11% in 2010. Reasoning for the CEO compensation decline is that pay is being more directly tied to performance. Whereas before, “directors would often overlook missed targets and award big bonuses anyway.” Now, however, investors and the Securities and Exchange Commission aren’t looking the other way.

These preliminary results are drawn from a survey of 75 companies with annual revenue greater than $5.9 billion. A larger report of 300 companies is slated to be conducted this spring.

Here’s an example:

Athletic-gear maker Nike Inc. posted a 10% increase in revenue and a 12% rise in net income in the fiscal year ended May 31, 2011. But the company missed three-year targets for revenue and per-share earnings that had been set in 2008, so CEO Mark Parker received a smaller bonus, driving his total compensation down 5.8%, to $12.7 million.


Ousted; WSJ Reporter Gets the Boot Shortly After Arguing With Steve Jobs

Journalists are supposed to be critics, right? They question assumptions and ask for clarification. It’s part of the job title, but apparently you better watch your words at the Wall Street Journal, particularly when talking to Apple CEO Steve Jobs.

Valleywag reports that Gordon McLeod, a four-year veteran at the paper, is leaving, and it’s not by coincidence that his departure comes three months after he argued with Jobs at a News Corp. retreat.

Here’s the rundown of what happened from Valleywag’s Ryan Tate:

“In a Q&A session with the assembled executives and managers, including Journal editors, Jobs railed against the apps newspapers like the Journal have created for his iPad. Their interfaces are terrible, he said, and their content is all too often limited . That the Journal’s archrival the New York Times was among those singled out for criticism — Jobs hates the limited NYT Editors’ Choice app — must have helped take the sting off. And Jobs did praise the WSJ’s iPad app as very attractive. But the CEO also said the app was too slow, essentially calling it a clunky reading experience.

“It was on this point that McLeod, who wouldn’t comment for this post, is said to have engaged with Jobs. As president of the Wall Street Journal Digital Network, McLeod was at least a player on the paper’s iPad strategy as well as a spokesman for it. It’s not clear whether the Time Inc veteran got into it with Jobs during the more public Q&A or in a more private meeting afterward, but there was definitely a back and forth between the two men in front of other News Corp. hands: Word of McLeod’s purportedly impertinent comments challenging Jobs ricocheted around the company almost instantly.”

Tate reports that the argument led, in part, to McLeod’s departure because News Corp.’s Rupert Murdoch has quite the admiration for Jobs. But staffers also admitted that McLeod wasn’t the best fit for WSJ. Wow, Jobs really is changing the face of journalism.

Diller Likes AOL While National Journal’s Latest Hire Talks Decline, Plus Other News of the Day

- Well the Wall Street Journal is sure enjoying a recent jump in its advertising revenue, and it wants to make it clear that the New York Times isn’t matching it. According to a company memo obtained by Romenesko, the WSJ‘s print and online revenue jumped 17%, while its digital advertising revenue skyrocketed up 29% in the first quarter of 2011. How’s NYT‘s? According to the memo, “for the same three month period the New York Times has forecast total print and online revenue for its calendar third quarter to fall 2 to 3% compared with a year before. Total print advertising revenue is expected to be down 5%. Total digital advertising revenue is projected to rise 14%.” Does this mean the WSJ is winning?

- AOL has one fan in IAC CEO Barry Diller. Of course this fan was speaking at AOL’s recent acquisition, TechCrunch’s conference when he spoke of AOL. “For the first time in more than ten years … which in an internet company of such size is an eternity … real things are happening,” said Diller, according to paidContent. “There is a real direction, a real plan, it is under a real leader. It is independent, it’s got a real chance.” What are Diller’s thoughts on Yahoo, however? He didn’t want to talk about it.

- The media watchdog group Free Press has filed a complaint to the Federal Communications Commission to stop the practice of paid publicists supporting products on television news casts, when the news station presents the person as a consumer advocate. This move by the Free Press has come on the heels of Los Angeles Times columnist James Rainey calling out the FCC for not doing something about this practice. “The agency hopes the threat of public embarrassment will keep hucksters in check,” wrote Rainey. “Judging from my reporting on toy woman Werner, I’m not so sure. Several PR professionals told me they see secretly paid promotions only growing…. Television stations won licenses from the FCC with promises to uphold a trust to serve the public interest. Critical in that trust is helping the audience understand where content comes from.” Wonder how the FCC will react to that.

- It’s a continuing theme of this nightly roundup, but National Journal picked up another hire today.’s editor David Beard will join the publication as its deputy editor-in-chief and online editor. But Beard had some thoughts about what he does and the old media world as he left. “I thought about the first Times owner…and how much he really dreamed up new ideas and thought like an entrepreneur — as opposed to a manager of an extant company,” said Beard to Nieman Journalism Lab. “I didn’t want to live my life managing decline.” That’s a sad, but poignant statement.

Getting a Job by Blogging About “Gossip Girl”

Are you a young writer trying to break into the media industry, but can’t find that first big break? Try blogging a recap to a television show.

It’s a world that’s brand new to the media scene, but can lead to high-profile posts since they’re typically used to drive traffic. The live blogging of television shows has exploded in recent years, from recaps of “Top Chef” to synopses of “Mad Men,” pretty much any popular television show has a voice in the blogosphere recapping episodes as it unfolds. And as the New York Observer Dan Duray points out, it’s a way for new talent to get into the industry for the first time.

But for young writers hoping to get a foot in the door, the increased demand for recappers can only be viewed as a good thing—after all, it’s a paycheck and it beats, say, fact-checking, being a paralegal or waiting tables in terms of literary gratification.

Duray’s piece also included a story of one Wall Street Journal recapper, Hillary Busis, who just recently graduated from Columbia University. The WSJ asked her to give her take on “Gossip Girl,” and she jumped at the chance.

“I don’t really remember how he knew that I watched it but I wrote back right away and I said, ‘Sure,’ because it sounded awesome since I was going to be watching it anyway,” said Busis to the Observer. “Then all the sudden I got another email saying, ‘Can you be our regular Gossip Girl recapper?’ and I was like, ‘Sure.’”

Whatever works to get the job, no? But the skills needed for a television recap seems to translate well into the regular media space. You need to be unique in both analysis and presentation, while having the ability to write on tight deadlines. What better way to prepare for a career while watching TV?

WSJ Creates Urgent And Goes Head To Head With The AP

wsjimage.jpgIn the digital age, the speed of information is essential to the health and wealth of a media outlet. Recognizing this, the Wall Street Journal has decided to remake their old newswire to adapt to this society’s new need for faster information. In a memo, reprinted by the Carolina Business News Initiative and The Society of American Business Editors and Writers, Robert Thomson, managing editor for the WSJ announced the following:

We are sending Speedy to the knackery and saddling up a successor, the URGENT. New nomenclature alone will not generate news, so there must also be basic changes of principle and practice at the Journal. A guide to the new system will be published next week and we are aiming to launch on April 15.

According to the memo,the Speedy system&#151the WSJ and Dow Jone’s old newswire service&#151faltered and failed due to the staffs’ inability to publish the latest breaking news immediately upon receiving it. “Too many of these items were written in a way which neither made sense to Newswires users nor maximized the value of the news they sought to convey,” Thomson chastised his reporters. “Given that revenue reality, henceforth all Journal reporters will be judged, in significant part, by whether they break news for the Newswires.”

Thomson also sees this as a way to generate new revenue. “There is much angst-ridden, vacuous debate about the fate of American journalism,” writes the managing editor. “This is an important practical measure to secure the long-term future of journalists at Dow Jones.”

Whoa, going head to head with the newswires and, dare we say, the internet?! On the outset it seems like a bold move, but when you think about it, isn’t it the job of journalists to break stories first? Well, here’s to hoping Thomson’s group can finally do what they have all been employed to do.