Business Journalism- Professor Neil Fitzgerald Andres Eduardo Dao Guerra 06/12/1991 Are Newspapers Here to Stay The

modern day businessperson or professional seems to be more on the go, however it does not mean that a newspaper is not there with them. A rise in gadgetry and mobile applications have threatened the world of business print; surprisingly enough business publications have held on and even stepped their game up. If business newspapers have one thing going for them, then its the fact that they become a truly informative and well-rounded experience right at your fingertips, and it does not require electricity. Printed business newspapers are typically well funded and have access to databases and statistics from different institutions that allows them to create strong articles. In a printed newspaper you can also read about the most important topics across different sections. Now it is true that online, one can also go even further but for the casual reader, sometimes the objective is to inform them on the days or weeks news and not research per say. This is when its important for business newspaper publishers to have a website that compliments their paper and may offer additional resources to the printed stories. Business magazines also operate in this way, a quote from Stephen B. Shepard, and a former Business Week editor. I think theres a place for an interpretive analytic magazine that does enterprising journalism stories that you cant get anywhere else. Trend stories, narrative stories, investigative stories. As mentioned previously, business publications have to adapt to the current

trends in how everyday professionals and people get their news. According to the a survey done by the independent Pew Centers Project for Excellence in Journalism, Newspapers and newspaper websites ranked first or tied for first as the resource Americans rely on in 11 of the 16 key categories. In addition to that however the Pew Centers director, Tom Rosenstein, said that Americans have developed a complex ecosystem in which people rely on different platforms for different topics. With that in mind, there are no definite signs that business journalism in either print or online is headed to the grave. In fact a business journalism study done in May 2010 by the Donald W. Reynolds National Center for Business Journalism at Arizona State University, showed that major media outlets across the nation have increased their focus or resources in the business journalism section. 473 business journalists where interviewed in depth on several topics. The most resounding ones included questions such as, Are you doing more, about the same or less investigative journalism than you did five years ago? , Overall, has your media outlet increased, decreased or kept the volume of its business coverage about the same over the last five years? and Have you learned new skills?. Results showed that there was a 14% increase in the amount of investigative business journalism being done, with an 11% decrease as well. In terms of the increase or decrease of business coverage within their respective media outlets, there was a total increase of 35% for both online and print. The most positive statistic of all was the one where they were asked whether they have learned new skills considering the changing times in business media, and

92% said yes for printed and 98% for online. There is great significance for business journalists to constantly learn new skills and put them into practice as technology changes and there is what seems like a positive co-existence with printed business publications and online publications. Stephen B. Shepard the former editor of Business Week stated the importance of acquiring new skills. First of all get the new skills, Its fine to be a long format magazine writer or business writer, thats great as theres going be a need for it, but probably less of a need than there has been up until now. Youve got to learn the new skills, youve got to be able to report in different media formats, on different media platforms because that is where the audience is going. So if you think, oh well Im a very skilled reporter and writer and Ive done it for 25 years and that will get me by, your making a big mistake. A big mistake indeed as everyday, professionals and those involved with the financial and economic markets read the morning newspaper and supplement their readings with further insight online and on their mobiles; forums, video, in depth charts and statistics all set up the reader for a truly informative experience. The fall of business newspapers and publications would also mean a decline in investigative journalism that has been a fighting force for ethical business and the plight against corporate corruption. We have seen plenty of examples through history of how the printed business press and investigative journalists have used their expertise to deliver revealing and shocking stories to the people. Enron, the 2008 crisis and Olympus are ones that come to mind in recent years. Its the ability to plan, fund and execute a story of a greater magnitude

and then send it out the masses without the readers need for any technology or subscriptions. The newspaper is accessible everywhere and at a low cost that is affordable. The role of the informed citizen is at stake, without these print publications; there would be a narrow-minded approach to journalism and certainly a narrowing down in the audiences. One can read about important business stories online, but there is an unexplainable human impact a story makes when it is on the front page of a newspaper with a huge headline and a powerful photograph, being sold along city streets or handed out in front of public transportation systems. It is something that attracts readers and the human being who is generally thirsty for new knowledge and most of all things that incite human emotion. A decline in this field of business journalism could mean the drawing of an opaque curtain, one that would allow corporate greed and corruption to continue or increase without any real threat of outside policing. Are today's news organizations up to the task of sustaining the informed citizenry on which democracy depends? a question taken from a report on newspapers from the Carnegie Corporation of New York. The question is yes, as long as there is a preservation and appreciation of business journalism within business publications. Bethany McLean of Forbes did what an investigative journalist should do and that is ask the right questions, as well as for a simple explanation that an everyday person could understand. How did Enron make its money? . She avoided direct attacks or insults and overcame the confusing cloud that kept inquirers out of Enrons business. Mclean asked the easiest question Enron could have answered and one that any reader out there could have understood. After

the 2008 crisis and with the ongoing occupy protests everywhere, the people have demanded a surge in information about how corporations are run. There is a decrease in trust in the media, and its infamy with distorting the real stories. Clearly there is a need for investigative journalism. More importantly there is a need for reporters in any field to find the truth and support it with facts regardless of their position. As intelligence expert Duncan Campbell stated "Sensible risktaking and commitment helps, but any bright and able reporter can be investigative - when managements allow, or (like me) they bear the profound burdens of a freelance existence." A last point to raise is how the current desire for trustworthy and open information along with the fight being put up by printed business newspapers to stay relevant, will decide who delivers the news in the future. Currently media giants such as NewsCorp have the upper hand over independent newspapers in terms of financing, exposure, ownership and technology. However there is a gradual realization that most of these giants are interrelated with each other. Ownership is a key element, as media companies can own several news outlets or have stakes in financial institutions. Rupert Murdochs NewsCorp controls a big share of the worlds mainstream media and thus there may be a filter for the content that is put out. Advertising partnerships are also very important to look at as they can really influence the content that these publications dish out. If for example a company buys an important amount of advertising space then they would not expect to be harshly criticized or weakened by a newspaper. This poses a threat to the actual information that should be conveyed. This is why there has been a call for non-profit

foundations to fund independent business news publications in order to keep the citizen ethically and truthfully informed. The Carnegie Corporation also argued that, some high-quality journalism will also be backed by non-profit organizations. Already, a few respected news organizations sustain themselves that wayincluding the Guardian, the Christian Science Monitor and National Public Radio, this also including, an elite group of serious newspapers available everywhere online, independent journalism backed by charities, thousands of fired-up bloggers and well-informed citizen journalists. There is also a huge increase in independent business journalism done by citizens and free-lance journalists considering the popularity of blogs and several media sites. This is where it becomes tricky, even though these independent reporters may attempt to deliver legitimate stories or real time news, they do not always have the resources or audience that printed business newspapers do. In fact that is one of the main downsides of online material versus print. An anonymous Yahoo Answers member posted a great response to the pros and cons of online guerrilla journalism. One of the cons I have noticed is that on-line material can come from anyone and that anyone can become a "citizen journalist." One of the greatest problems that this creates is that ethical standards and basic journalism standards might not be adhered to simply because the reporter is not aware of them. This is why education and training are so important. In essence, the distrust looming towards huge media giants and their lack of global awareness or simply their biased ties, is really enforcing the fact that in the future the news will be delivered by a

different crowd, and the best part of all is that the people may be involved in helping the news become truly informative again and not a brainwashing sales pitch. Newspapers in their primitive form are truly an experience, the ink, the texture and the ease of disposability or preservation. Everyday hundreds of thousands of Londoners ride the citys massive tube system, and during rush hours, you can see dozens of people handing out daily newspapers that for the most part are free of charge. It has become somewhat ingrained in the British culture, to grab a newspaper and read it on the tube or on the bus to kill the time. Nonetheless everyday these commuting Britons are reading these newspapers and acquiring information of all kinds: sporting scores, local stories, politics, business and even entertainment. This may not justify a surge for newspapers, but it definitely shows that the conventional form is still around, informing those on the go, those without access to a computer or television and those businessmen/women who use them as a table coaster after reading a morning feature with a cup of coffee in hand.