SlideShare una empresa de Scribd logo
1 de 21
Descargar para leer sin conexión
An Uneasy MarriageJOURNALISM & ECONOMICS,[object Object],UNDERSTANDING THE ECONOMY,[object Object],SUMMER 2010,[object Object],EMILY DRESSAR,[object Object],STEPHEN DAVIS,[object Object]
The Rift,[object Object],Economics and Journalism collide,[object Object],Stewart ,[object Object],              vs.,[object Object],                Cramer,[object Object],Famous analyst call,[object Object],"You know, you are the only financial institution that can't produce a balance sheet or a cash flow statement with their earnings," Grubman said. Skilling, laughing, shot back, "Thank you very much, we appreciate it ... asshole.",[object Object]
Who’s covering the economy?,[object Object],The industry leaders,[object Object],Wall Street Journal, New York Times, Washington Post, LA Times, Financial Times,[object Object],Fox News, CNN, CNBC, Bloomberg TV,[object Object],The Economist, Forbes, Barron’s, Financial Times,[object Object]
And the bloggers,[object Object],Major Media Blogs,[object Object],The blogs supported by major media outlets:,[object Object], David Geffen at WSJ.com,,[object Object],Fortune.com’s Apple 2.0 blog,[object Object],BusinesWeek.com’s Fine on Media,[object Object],BloggingStocks at AOL,[object Object],MarketBeat at WSJ.com,[object Object],Paul La Monica at CNN Money,[object Object],Independent Blogs,[object Object],24/7 wall street,[object Object],www.calculatedriskblog.com,[object Object],paul.kedrosky.com,[object Object],seekingalpha.com,[object Object],Dailyreckoning.com,[object Object],GlobalEconomonitor.com (Roubini),[object Object]
What are they covering? Pew Research Center’s Project for Excellence in Journalism ,[object Object]
The Highs and LowsPew Research Center’s Project for Excellence in Journalism After accounting for 46% of the overall news coverage in February and March coverage of the economic crisis dropped by more than half And in July and August, it fell even further (to 16%). The clearest example came in cable news. Once the political battles subsided, coverage fell by about two-thirds from March to April. ,[object Object]
A Typical Story:  Banking, New York, Obama,[object Object],Top three stories: efforts to help revive the banking sector, the battle over the stimulus package and the struggles of the U.S. auto industry,[object Object],At the bottom: all reporting of retail sales, food prices, the impact of the crisis on Social Security and Medicare, its effect on education and the implications for health care combined accounted = 2% of economic coverage. ,[object Object],Driving coverage: Actions by government officials and business leaders drove much of the coverage. The White House and federal agencies alone initiated nearly a third (32%) of economic stories studied through July 3. Business triggered another 21%. About a quarter of the stories (23%) was initiated by the press itself and did not rely on an external news trigger.,[object Object],Not driving coverage: Ordinary citizens, union workers = 2% of the stories   ,[object Object],Dateline: New York City Fully 76% of the datelines on economic stories studied during the first five months of the Obama presidency were New York (44%) or metro Washington D.C. (32%). Only about one-fifth (21%) of the stories originated in any other city in the U.S. ,[object Object],Who’s quoted: When it came to which phrases and ideas reverberated most in a broad array of media, an analysis of some 1.6 million news websites, blogs and other online sources finds that the president dominated. Nine of the top 20 most-quoted phrases came from him.,[object Object]
The Business Model,[object Object],Media companies owned the news process,[object Object],News was expensive to produce,[object Object],The payoff was profitable,[object Object],Sold 2 things- advertising and audience,[object Object],Monopoly on the process,[object Object],The Internet breaks the barrier to entry and media companies lose exclusivity of audience and content,[object Object]
LOCAL NEWS EFFORT ,[object Object],FINANCIAL CRISIS,[object Object],NEWSPAPER BREAKS STORIES,[object Object],5 BILLION DOLLAR DEBT FOR LOCAL GOVERNMENT,[object Object],RESULT IS MAJOR FINANCIAL OUTLETS PICK UP STORIES,[object Object],[object Object]
CORE SAVVY BUSINESS READER
TARGET IS INTEREST OVER DEMOGRAPHIC,[object Object]
MAJOR BENEFITS OF NEWHOUSE OWNERSHIP,[object Object],THIS COMPANY WIDE OUTLOOK PRESERVES THE QUALITY OF THE NEWSPAPER.,[object Object],COMMITMENT KEEPS OWNERS FROM  “TAKING EASY ROUTE TO GETTING PAPER OUT” EACH DAY.,[object Object],THIS HAS ALLOWED EXPANDED COVERAGE AND CONTENT.,[object Object],PROVIDES COMMUNITY WITH A STABLE NEWSPAPER AND HELPS RECRUIT UPCOMING JOURNALISTS,[object Object],MAJOR REASON FOR                   SUCCESS,[object Object],“ WE ARE A PRIVATELY HELD COMPANY THAT GOES BEYOND A ONE QUARTER HORIZON.”,[object Object],SOURCE- CHUCK CLARK/MANAGING EDITOR, BIRMINGHAM NEWS,[object Object]
Who’s impacting financial journalism?,[object Object],Other News Leaders,[object Object],Robert Peston, BBC business editor.,[object Object],“For many months I was very concerned about the explosive growth of CDOs and I tried to explain them through my reporting. Doing so was a challenge, when even bankers creating the CDOs were unable to describe them in terms that make sense to non-specialists.”,[object Object],Matt Taibbi, Chief Political Reporter for Rolling Stone,[object Object],Michael Lewis, author, “The Big Short” Has been called “the best piece of financial journalism ever written.” ,[object Object],Wall Street Journal news team: “The Financial Crisis: The Weekend That Wall Street Died” ,[object Object],10-article series produced by 15 reporters won the Institute on Political Journalism's prestigious Excellence in Economic Reporting Award for 2009. ,[object Object],Coverage was detailed, dramatic, precise and contained too many revelations to count, said the judges,[object Object]
‘Obscure, clubby and unhelpful’,[object Object],“Finance writers and bloggers are often willfully obscure, tradey, impenetrable and even at times useless to any audience who actually isn't working at (or recently laid off from) a bank. Why are they so willing to abandon us when they should be explaining things to use more than ever?”,[object Object],Choire Sicha, The Awl blog,[object Object]
Why?,[object Object],Crisis in the system,[object Object],The study addressed the following questions:,[object Object],Why didn’t we know this was coming?,[object Object],Did journalists fail to scrutinize the financial system?,[object Object],Can journalists cover this continuing, complex story?,[object Object],In November 2009, POLIS, a joint public policy research project of the London School of Economics and the London College of Communication, released a study analysis the state of financial journalism in the UK and US,[object Object]
Why ?,[object Object],Speed: economic stories move quickly through digital means. Financial data is updated digitally, the advent of the 24/7 news cycle (cable news) ,[object Object],Complexity: Financial systems and new products are increasingly complex (hedge funds, derivatives),[object Object],Strategy: The rise of corporate Public Relations places more and more limits on information exchange,[object Object]
Why ?,[object Object], Sustainability: Lack of resources: The business of news has taken a severe hit resulting in less resources dedicated to reporting.,[object Object],Globalization: Markets are increasingly interconnected and globalised; shrinking newsroom resources have declined original international reportage.,[object Object],Blurring the Lines: Renewed debate on ethics: market manipulation? Who is a financial journalist?,[object Object]
Is this the future?,[object Object],http://vimeo.com/11139124,[object Object],“Behind the Scenes”,[object Object],PLANET MONEY,[object Object]
Planet Money,[object Object],This American Life producer Alex Blumberg teamed up with NPR's Adam Davidson to tell the surprisingly entertaining story of how the U.S. got itself into a housing crisis. “The Giant Pool of Money” spawned more stories led to the creation of NPR’s Planet Money - a multimedia team covering the global economy.,[object Object],The Giant Pool of Money: originally aired May 9, 2008 on This American Life, produced in collaboration with NPR News,[object Object]
Planet Money,[object Object],http://vimeo.com/10864430,[object Object],Original song from Planet Money,[object Object],“Bet Against the American Dream”,[object Object]
Moving forward,[object Object],Collaboration between mediums/reporters,[object Object],Use of new technology,[object Object],Growth of audience insight,[object Object],Journalism supported by foundation or government grants,[object Object],General assignment reporting morphs into specialization,[object Object]

Más contenido relacionado

La actualidad más candente

PS 101 The Media And American Politics Summer 2008
PS 101 The Media And American Politics Summer 2008PS 101 The Media And American Politics Summer 2008
PS 101 The Media And American Politics Summer 2008Christopher Rice
 
The True Lessons of the Recession
The True Lessons of the RecessionThe True Lessons of the Recession
The True Lessons of the Recessionstockedin
 
Polymetis White Paper 200901
Polymetis White Paper 200901Polymetis White Paper 200901
Polymetis White Paper 200901tpkcfa
 
Summit view july 2010
Summit view july 2010Summit view july 2010
Summit view july 2010njmsn
 
Hoag (2016) CSUEB Lecture: US Class Structure
Hoag (2016) CSUEB Lecture: US Class StructureHoag (2016) CSUEB Lecture: US Class Structure
Hoag (2016) CSUEB Lecture: US Class StructurePeter Hoag
 
ICT Corporates: Where To From Here
ICT Corporates: Where To From HereICT Corporates: Where To From Here
ICT Corporates: Where To From HereElton050505
 
An afro arab spring - socio-political trajectories in stemming the tide of th...
An afro arab spring - socio-political trajectories in stemming the tide of th...An afro arab spring - socio-political trajectories in stemming the tide of th...
An afro arab spring - socio-political trajectories in stemming the tide of th...Costy Costantinos
 
Why the next decade will shape the century!
Why the next decade will shape the century!Why the next decade will shape the century!
Why the next decade will shape the century!adusault
 
Missing paragraphs practice
Missing paragraphs practiceMissing paragraphs practice
Missing paragraphs practiceanagogar
 
Credit Crisis - Past, Present, and Future
Credit Crisis - Past, Present, and FutureCredit Crisis - Past, Present, and Future
Credit Crisis - Past, Present, and FutureJLHealy
 
Genesis Of Global Financial Crises
Genesis Of Global Financial CrisesGenesis Of Global Financial Crises
Genesis Of Global Financial CrisesArif Anis Malik FRSA
 
Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...
Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...
Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...Ilona Meagher
 

La actualidad más candente (19)

Ppm2
Ppm2Ppm2
Ppm2
 
PS 101 The Media And American Politics Summer 2008
PS 101 The Media And American Politics Summer 2008PS 101 The Media And American Politics Summer 2008
PS 101 The Media And American Politics Summer 2008
 
The True Lessons of the Recession
The True Lessons of the RecessionThe True Lessons of the Recession
The True Lessons of the Recession
 
Tactical asset allocation view ipi q4 2011
Tactical asset allocation view ipi q4 2011Tactical asset allocation view ipi q4 2011
Tactical asset allocation view ipi q4 2011
 
9media
9media9media
9media
 
Ssrn id1113888
Ssrn id1113888Ssrn id1113888
Ssrn id1113888
 
Polymetis White Paper 200901
Polymetis White Paper 200901Polymetis White Paper 200901
Polymetis White Paper 200901
 
Summit view july 2010
Summit view july 2010Summit view july 2010
Summit view july 2010
 
Hoag (2016) CSUEB Lecture: US Class Structure
Hoag (2016) CSUEB Lecture: US Class StructureHoag (2016) CSUEB Lecture: US Class Structure
Hoag (2016) CSUEB Lecture: US Class Structure
 
ICT Corporates: Where To From Here
ICT Corporates: Where To From HereICT Corporates: Where To From Here
ICT Corporates: Where To From Here
 
An afro arab spring - socio-political trajectories in stemming the tide of th...
An afro arab spring - socio-political trajectories in stemming the tide of th...An afro arab spring - socio-political trajectories in stemming the tide of th...
An afro arab spring - socio-political trajectories in stemming the tide of th...
 
Why the next decade will shape the century!
Why the next decade will shape the century!Why the next decade will shape the century!
Why the next decade will shape the century!
 
Strategy in a structural break
Strategy in a structural breakStrategy in a structural break
Strategy in a structural break
 
The Global Boardroom Day 2
The Global Boardroom Day 2The Global Boardroom Day 2
The Global Boardroom Day 2
 
Missing paragraphs practice
Missing paragraphs practiceMissing paragraphs practice
Missing paragraphs practice
 
Arguments in Favour of Economic Liberalization
Arguments in Favour of Economic LiberalizationArguments in Favour of Economic Liberalization
Arguments in Favour of Economic Liberalization
 
Credit Crisis - Past, Present, and Future
Credit Crisis - Past, Present, and FutureCredit Crisis - Past, Present, and Future
Credit Crisis - Past, Present, and Future
 
Genesis Of Global Financial Crises
Genesis Of Global Financial CrisesGenesis Of Global Financial Crises
Genesis Of Global Financial Crises
 
Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...
Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...
Crossroads Reporting: The Intersection of Traditional Media and Citizen Journ...
 

Destacado

Destacado (6)

Journalism
JournalismJournalism
Journalism
 
Sports journalism
Sports journalismSports journalism
Sports journalism
 
Interpretative (interpretive) reporting
Interpretative (interpretive) reportingInterpretative (interpretive) reporting
Interpretative (interpretive) reporting
 
Journalism Book
Journalism BookJournalism Book
Journalism Book
 
Sports Writing 101
Sports Writing 101Sports Writing 101
Sports Writing 101
 
News writing presentation
News writing presentationNews writing presentation
News writing presentation
 

Similar a Financial Journalism

How does the media cover business and economics
How does the media cover business and economicsHow does the media cover business and economics
How does the media cover business and economicsramysimpson
 
MGT Strategic Planning At The Chribicle Gazette Essay
MGT Strategic Planning At The Chribicle Gazette EssayMGT Strategic Planning At The Chribicle Gazette Essay
MGT Strategic Planning At The Chribicle Gazette EssayBrenda Zerr
 
A Note On The Bailout Crisis
A Note On The Bailout CrisisA Note On The Bailout Crisis
A Note On The Bailout CrisisBeth Salazar
 
Essay About The Mass Media In Texas Politics
Essay About The Mass Media In Texas PoliticsEssay About The Mass Media In Texas Politics
Essay About The Mass Media In Texas PoliticsLisa Brown
 
The Global Food Crisis Of 2007-2008
The Global Food Crisis Of 2007-2008The Global Food Crisis Of 2007-2008
The Global Food Crisis Of 2007-2008Diane Allen
 
The Financial Crisis, Networks and Future of News
The Financial Crisis, Networks and Future of NewsThe Financial Crisis, Networks and Future of News
The Financial Crisis, Networks and Future of Newsicgfmconference
 
Understanding The Economic Recession In America Essay
Understanding The Economic Recession In America EssayUnderstanding The Economic Recession In America Essay
Understanding The Economic Recession In America EssayAnn Montgomery
 
Old slides: MAC129 Journalism and the Internet
Old slides: MAC129 Journalism and the InternetOld slides: MAC129 Journalism and the Internet
Old slides: MAC129 Journalism and the InternetRob Jewitt
 
Covid 19 and The Media.pptx
Covid 19 and The Media.pptxCovid 19 and The Media.pptx
Covid 19 and The Media.pptxprofeminaM
 
CASE STUDY CAPITALISM This case views the global, capitalist
CASE STUDY CAPITALISM This case views the global, capitalistCASE STUDY CAPITALISM This case views the global, capitalist
CASE STUDY CAPITALISM This case views the global, capitalistMaximaSheffield592
 
New York Times Pros And Cons
New York Times Pros And ConsNew York Times Pros And Cons
New York Times Pros And ConsMelissa Jackson
 
Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)
Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)
Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)Dr. Ivo Pezzuto
 
COVID-19 Thoughts Part 2
COVID-19 Thoughts Part 2COVID-19 Thoughts Part 2
COVID-19 Thoughts Part 2David Vreeland
 
Financial Crisis Coverage: NPR
Financial Crisis Coverage: NPRFinancial Crisis Coverage: NPR
Financial Crisis Coverage: NPREly Twiggs
 
Financial crisis done
Financial crisis doneFinancial crisis done
Financial crisis doneEly Twiggs
 
Prosumer American Audit
Prosumer American AuditProsumer American Audit
Prosumer American AuditHavasPR
 
U.S. Economy In 1800S
U.S. Economy In 1800SU.S. Economy In 1800S
U.S. Economy In 1800STraci Webb
 

Similar a Financial Journalism (20)

How does the media cover business and economics
How does the media cover business and economicsHow does the media cover business and economics
How does the media cover business and economics
 
MGT Strategic Planning At The Chribicle Gazette Essay
MGT Strategic Planning At The Chribicle Gazette EssayMGT Strategic Planning At The Chribicle Gazette Essay
MGT Strategic Planning At The Chribicle Gazette Essay
 
A Note On The Bailout Crisis
A Note On The Bailout CrisisA Note On The Bailout Crisis
A Note On The Bailout Crisis
 
Essay About The Mass Media In Texas Politics
Essay About The Mass Media In Texas PoliticsEssay About The Mass Media In Texas Politics
Essay About The Mass Media In Texas Politics
 
The Global Food Crisis Of 2007-2008
The Global Food Crisis Of 2007-2008The Global Food Crisis Of 2007-2008
The Global Food Crisis Of 2007-2008
 
Journalism Bias
Journalism BiasJournalism Bias
Journalism Bias
 
The Financial Crisis, Networks and Future of News
The Financial Crisis, Networks and Future of NewsThe Financial Crisis, Networks and Future of News
The Financial Crisis, Networks and Future of News
 
Understanding The Economic Recession In America Essay
Understanding The Economic Recession In America EssayUnderstanding The Economic Recession In America Essay
Understanding The Economic Recession In America Essay
 
Old slides: MAC129 Journalism and the Internet
Old slides: MAC129 Journalism and the InternetOld slides: MAC129 Journalism and the Internet
Old slides: MAC129 Journalism and the Internet
 
The Importance Of Journalism
The Importance Of JournalismThe Importance Of Journalism
The Importance Of Journalism
 
Effects Of New Media On Political Reporting
Effects Of New Media On Political ReportingEffects Of New Media On Political Reporting
Effects Of New Media On Political Reporting
 
Covid 19 and The Media.pptx
Covid 19 and The Media.pptxCovid 19 and The Media.pptx
Covid 19 and The Media.pptx
 
CASE STUDY CAPITALISM This case views the global, capitalist
CASE STUDY CAPITALISM This case views the global, capitalistCASE STUDY CAPITALISM This case views the global, capitalist
CASE STUDY CAPITALISM This case views the global, capitalist
 
New York Times Pros And Cons
New York Times Pros And ConsNew York Times Pros And Cons
New York Times Pros And Cons
 
Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)
Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)
Ivo Pezzuto - CONCLUSIONS OF THE US FINANCIAL CRISIS INQUIRY COMMISSION (2011)
 
COVID-19 Thoughts Part 2
COVID-19 Thoughts Part 2COVID-19 Thoughts Part 2
COVID-19 Thoughts Part 2
 
Financial Crisis Coverage: NPR
Financial Crisis Coverage: NPRFinancial Crisis Coverage: NPR
Financial Crisis Coverage: NPR
 
Financial crisis done
Financial crisis doneFinancial crisis done
Financial crisis done
 
Prosumer American Audit
Prosumer American AuditProsumer American Audit
Prosumer American Audit
 
U.S. Economy In 1800S
U.S. Economy In 1800SU.S. Economy In 1800S
U.S. Economy In 1800S
 

Más de Stephen Davis

Stephen Davis ONLINE Resume
Stephen Davis ONLINE ResumeStephen Davis ONLINE Resume
Stephen Davis ONLINE ResumeStephen Davis
 
Milwaukee County Sheriff ALPR follow
Milwaukee County Sheriff ALPR followMilwaukee County Sheriff ALPR follow
Milwaukee County Sheriff ALPR followStephen Davis
 
ID Theft Script Final
ID Theft Script FinalID Theft Script Final
ID Theft Script FinalStephen Davis
 
Evils Of Outsourcing
Evils Of OutsourcingEvils Of Outsourcing
Evils Of OutsourcingStephen Davis
 
Entertainment Marketing PPT
Entertainment Marketing PPTEntertainment Marketing PPT
Entertainment Marketing PPTStephen Davis
 

Más de Stephen Davis (8)

Stephen Davis ONLINE Resume
Stephen Davis ONLINE ResumeStephen Davis ONLINE Resume
Stephen Davis ONLINE Resume
 
Milwaukee County Sheriff ALPR follow
Milwaukee County Sheriff ALPR followMilwaukee County Sheriff ALPR follow
Milwaukee County Sheriff ALPR follow
 
Davis[1] grade
Davis[1] gradeDavis[1] grade
Davis[1] grade
 
ID Theft Script Final
ID Theft Script FinalID Theft Script Final
ID Theft Script Final
 
SWOT ANALYSIS WXII
SWOT ANALYSIS WXIISWOT ANALYSIS WXII
SWOT ANALYSIS WXII
 
Evils Of Outsourcing
Evils Of OutsourcingEvils Of Outsourcing
Evils Of Outsourcing
 
Entertainment Marketing PPT
Entertainment Marketing PPTEntertainment Marketing PPT
Entertainment Marketing PPT
 
Bus Crash Ppt (2)
Bus Crash Ppt (2)Bus Crash Ppt (2)
Bus Crash Ppt (2)
 

Financial Journalism

  • 1.
  • 2.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22.

Notas del editor

  1. http://www.youtube.com/watch?v=xt-fb7IQ4Ko
  2. In November 2009, POLIS, a joint public policy research project of the London School of Economics and the London College of Communication, released a study analysis the state of financial journalism in the UK and US