Howard Berkes

By Flickr user thomas pix

Companies pay undisclosed sums to have a presence at the games because they’re the “number one sport among women and the number two among men,” a P&G spokesman says.

Today’s Tip: Take a tip from the Super Bowl: it’s not just about the game.

The Super Bowl isn’t just about football, but also about advertising. When you’re dealing with a broad-impact event in your town, such as bowl games or big conventions, find out about the marketing dollars involved. Go beyond the corporate sponsorship signs, and look for freebies and hosted events.

The Event Marketing Institute in Norwalk, Conn., describes itself as a “think tank, educator, and global professional resource” on the topic. Commercial Alert, an organization in Portland, Ore., that advocates against commercialism, can offer a contrarian view. If the sponsorships involve schools, education Professor Alex Molnar at Arizona State University is a possible source.

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A Kentucky Fried Chicken in downtown Beijing

From frenzied financial markets to trade wars to automobile recalls, the international nature of business journalism becomes more evident every day.

“In light of the Google controversy, the U.S. selling arms to Taiwan and problems over North Korea, how do you see the future of trade relations between the U.S. and China?” the China Central TV anchor asked me in a recent Beijing interview.

OK, then when do the hard questions start?

Journalists once sufficiently equipped with a basic understanding of balance sheets and P/E ratios find they must expand their knowledge to foreign currencies, differing central bank policies, emerging market trends and economic policies of foreign countries.

All those factors are capable of affecting U.S. readers and viewers, either in products they buy, investments, job security or travel plans.

My time spend in mainland China, Hong Kong and Russia in recent months has underscored the fact that their  aspiring journalism students know considerably more about U.S. financial and economic systems than we in turn know about theirs. Students at global business journalism programs carefully study all they can about our business world—in addition to their own. We still lead the way, but too often we stop at our borders.

Businesses light the street in vibrant downtown area in Hong Kong.

A two-week, three-credit study/travel program to Beijing and Shanghai in May sponsored by the Walter Cronkite School of Journalism at Arizona State University called “International Business Journalism: Chinese Perspective” is an example of a step in bridging the gap for Cronkite students. The first week will be spent in the government capital of Beijing and the second in the business capital Shanghai, both of which play a major role in China’s economy and relations with the U.S. Dr. Xu Wu, a native of Beijing, and I will teach the course.

In virtually all aspects China differs from the U.S., yet the economies and futures of the two nations are inextricably linked. It is an awkward dance in which both of the participants want to lead, but the music plays on.

“I’m so excited I get to see China with a native, and that we’ll be meeting international students who share the same passion about business journalism,” said Carolina Madrid, a Cronkite student who after the China course will make use of her bilingual abilities in Spanish summer as a Thomson Reuters summer intern.

The course will include meetings with Chinese media and business leaders, as well as western news outlet that cover China, with the backdrop of significant historic attractions such as the Great Wall, the Forbidden City and Tiananmen Square. The business journalism students from the U.S. will also meet and socialize with their counterparts from China. The basics of business and the economy being studied is the same in both countries, but the students are coming from completely different backgrounds.

In the case of China, the nation’s political, economic and cultural aspects are so tightly intertwined that criticism of any one of those factors is often taken as an insult. It is one of the oldest cultures, yet a newbie on the world economic scene. It is flexing its muscles to show its power but is not yet convinced of its own strength.

International news organizations such as Bloomberg, Thomson Reuters and Dow Jones continue to gain in importance not only in informing people through the universal language of business but in spreading the concepts of free enterprise. For the indigenous journalists in many countries, it also permits them to work in a somewhat less controversial, less political area.

The U.S. business journalist and student would do well to become acquainted with:

• The economic policies of nations in the news. Understanding what economic policies are weighing down the European Union nations or causing China to complain of U.S. protectionism is important.
• Currency trends, which are playing a greater role in business at all levels. The artificially-low Chinese yuan, for example, is a boon to Chinese products around the world. The U.S. dollar has played a significant role in our nation’s business prospects as well.
• Where various types of products come from and where our own goods are going. An analysis of one’s own town or state could provide interesting and in some cases surprising information. What U.S. jobs are actually a result of foreign investment is also worth knowing.
• What stereotypes we have of foreign business and companies are true and which have no basis in reality. Too often our one or two sentence images overlook many of the more complicated aspects.
• What social issues also play a role in the business environment. Face it, we often have no idea why others don’t think like we do.

An anchor on a Russian business news TV channel asked me: “What exactly is business journalism, in your opinion?” She wasn’t kidding—the ethics of business journalism are murky in many nations and the definition of what constitutes professional work becomes important.

It is the business journalist’s role to make sure that everyone in every country — no matter what its political system — can see and hear what quality coverage of companies is all about. International news services are doing their part in that regard.

It is an equally important task for business journalists and business journalism students in the U.S. to learn all they can about the rest of the world. A world view is no longer just a pleasant philosophy, but a reality of daily life.

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Mark Maremont senior editor the Wall Street Journal

MARK MAREMONT
Senior editor for the Wall Street Journal. His team won the 2007 Pulitzer Prize for Public Service for its stories on the back-dating of options for executives.

Age: 51
Home: Needham, Mass.
What I do: Investigative reporting at the Wall Street Journal.
Hours worked per week: 35-70

Why I do what I do: I like to make a difference.

Mark Maremont's team won a 2007 Pulitzer Prize for stories on executives back-dating options.

Favorite story I reported: Backdating stock options.

Biggest accomplishment: Pulitzer Prize.

Biggest mistake: Not becoming a lawyer.

Best advice for investigative business journalists: It’s all about the story idea.

Best online resource ever: USGA’s Golf Handicap and Information Network for golf scores (sadly it’s been made less useful).

What reporter’s work do you follow religiously and why: Dan Golden at Bloomberg, smartest reporter ever.

Who was your mentor: Gary Putka, former WSJ Boston bureau chief.

Last book read: ‘Lonesome Dove,’ by Larry McMurtry.

What I do for fun: Photography, bicycling.

Quote: “A banker is a fellow who lends you his umbrella when the sun is shining, l but wants it back the minute it begins to rain.” — Mark Twain

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1. Q&A: Alexandra Berzon, Wall Street Journal reporter

Larry Roberts, executive editor Huffington Post Investigative Fund

LAWRENCE ROBERTS
Executive editor, Huffington Post Investigative Fund and former investigations editor at The Washington Post.

PLAY: Roberts speaks with Alec Klein about investigative business journalism.

Age: 58
Home: Garrett Park, Maryland
What I do: Executive Editor, Huffington Post Investigative Fund
Hours worked per week: Sorry, time clock is broken.

Why I do what I do: We must find new models that will preserve investigative journalism on the Web.

Favorite story I reported: Spain’s return to democracy in the 1980s.

Biggest accomplishment: Being part of the group that led The Hartford Courant to its first Pulitzer Prize.

Biggest mistake: Too embarrassing to make public.

Best advice for investigative business journalists: Read your history. Patterns tend to repeat themselves.

Best online resource ever: The resource center of Investigative Reporters and Editors

What reporter’s work do you follow religiously and why: Steve Coll, for his fearless intellect.

Who was your professional mentor: I have two: Pamela Luecke, now a journalism professor at Washington & Lee University; and Jeff Leen, AME/Investigations at The Washington Post.

Last book read: ‘Annie’s Ghosts,’ by Steve Luxenberg.

What I do for fun: Play guitar in a garage band.

Quote: Don’t run from complexity. Embrace it.

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Gary Cohn, Pulitzer Prize winner at the Baltimore Sun

GARY COHN
1998 Pulitzer Prize winner and 2009 Barlett & Steele winner

Why I do what I do: I love finding out things people don’t want me to know. I hate injustice. And I like making a difference.

Favorite story I reported: Shipbreakers, a series that Will Englund and I wrote for the Baltimore Sun. The story reported on the dangers to people and the environment when old warships are dismantled and produced reforms.

Gary Cohn was part of a team that won the 2009 Silver Barlett & Steele Award for a project on 'AARP's Stealth Fees.'

Biggest accomplishment: Keeping my passion and enthusiasm for reporting after more than 30 years as an investigative reporter.

Biggest mistake: Not finishing law school. I completed my first year at the University of California at Berkeley, took a leave of absence to take a job as a reporter, and never went back.

Best advice for investigative business journalists: Get out of the office and away from the computer and talk to human sources. Trust your eyes and ears and your instincts.

Best online resource ever: IRE.org, the Investigative Reporters and Editors Web site, has loads of helpful resources and tips.

What reporter’s work do you follow religiously and why: Seymour Hersh of the New Yorker. He’s been doing groundbreaking investigative work for decades.

Who was your mentor: John Carroll, my editor at the Lexington Herald-Leader, Baltimore Sun and Los Angeles Times.

Last book read: ‘The Great Influenza,’ by John M. Barry.

What I do for fun: Hiking, biking, cross-country skiing.

Quote: “Some men see things as they are and say Why. I dream things that never were and say Why not.” – Robert F. Kennedy

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1. Q&A: Lawrence Roberts, Huffington Post Investigative Fund
2. Q&A: Mark Maremont, senior editor Wall Street Journal

Bill Sizemore, government/military reporter at The Virginian-Pilot

BILL SIZEMORE
Government/military reporter at The Virginian-Pilot

Age: 60
Home: Norfolk, VA
What I do: Government/military reporter at The Virginian-Pilot
Hours worked per week: 40-plus

Why I do what I do: It’s all I know how to do and all I’ve ever wanted to do. I like to think the work I do makes a positive difference in the world – giving people information they need and can trust. Besides, printer’s ink is in my blood. My father was a weekly newspaper editor and publisher.

Favorite story I reported: I revealed that Pat Robertson, the televangelist, used airplanes owned by his tax-exempt charity in a for-profit diamond mining venture in Africa.

Biggest accomplishment: Pulitzer finalist in 2007 for an in-depth series on Blackwater, the private military company.

Biggest mistake: Buying a weekly newspaper. I learned that while I may be good at journalism, I’m lousy at running a business.

Bill Sizemore's series on Blackwater was a finalist for the Pulitzer Prize for Explanatory Reporting in 2007.

Best advice for investigative business journalists: It applies to investigative journalism of any kind, and there are several ways to say it: The more sources, the better. Or: Even if your mama tells you, check it out. Or as Ronald Reagan put it: Trust, but verify.

Best online resource ever: Depends on what kind of story you’re working on. If you’re covering a business that does a lot of federal government contracting, it’s hard to beat fedspending.org.

What reporter’s work do you follow religiously and why: Jeremy Scahill of The Nation. He’s made a career of dogging Blackwater.

Who was your mentor: My father, who was a weekly newspaper editor and publisher. More than anyone else, he was responsible for my becoming a journalist.

Last book read: ‘The Rise and Fall of the Christian Coalition,’ by Joel Vaughan.

What I do for fun: Camping in my vintage VW microbus. I’m an old hippie at heart.

Quote: I know, I know, I’m a dinosaur. I’m working in a dying industry. But if I’m ever tempted to take a PR job, somebody just please shoot me.

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1. Q&A: Alexandra Berzon, Wall Street Journal reporter
2. Q&A: Gary Cohn, 1998 Pulitzer Prize winner

Alexandra Berzon, Wall Street Journal reporter

Age: 30
Home: Los Angeles, CA
What I do: cover casinos/hotels for the Wall Street Journal
Hours worked per week: many!

Why I do what I do: 1) I believe – and have found to be true – that there’s an important impact that comes from finding out and reporting on things happening in the world that might not otherwise be told. 2) it’s a challenge! 3) I like learning new things and looking at those new things from lots of different angles, and then telling people about it.

Favorite story I reported: Clearly the most impactful story I’ve reported was about a string of deaths on Las Vegas Strip construction sites and the limited response from regulators, companies, unions and others involved. I also really love some of the feature stories I wrote for the San Antonio Express-News about rural Texas, and a story for Salon.com and Living on Earth about Pacific Islanders who have already moved to New Zealand because of concern their islands will drown due to global warming.

Biggest accomplishment: I’m toldfrom many people involved that my construction deaths/OSHA stories helped to lead to positive changes in construction safety in Las Vegas that may have

Alexandra Berzon's work at the Las Vegas Sun exposed serious safety flaws on construction sites.

prevented more deaths/injuries.  That, to me, is a huge accomplishment. We also won the Pulitzer Prize for that series.  My other proudest achievement was winning an NCAA basketball pool a few years ago.

Biggest mistake: Trusting used car salesmen!

Best advice for investigative business journalists: I’m still learning a ton myself, all the time. My advice is not to let people (i.e. people within the companies you’re covering,  and other “experts” or whatnot) talk you out of it early on if you have good reason to think there’s an important story.

Best online resource ever: Depends too much on what you’re trying to find out…

What reporter’s work do you follow religiously and why: In terms of investigative reporters, this changes constantly from story to story as I am constantly impressed by the work of other reporters. Otherwise, I have long adored the writing of Heather Havrilesky, the TV critic for Salon.com. Reading her work is one of my favorite things about Sundays!

Who was your mentor: I was incredibly lucky in graduate school and the papers I interned at to find wonderful, generous editors who mentored me. Most recently, Drex Heikes formerly of the Las Vegas Sun (and currently at the LA Weekly) was incredible.

Last book read: ‘Cadillac Desert: The American West and its Disappearing Water ,’ by Marc Reisner.

What I do for fun: cook, hike, talk to friends, explore, travel, think about/research stories I want to report/write…

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1. Q&A: Mark Maremont, senior editor Wall Street Journal

Podcast:

Age: 56
Home: Dexter, Mich.
What I do: Editorial director for Global Auto Systems, content provider for Edmunds.com/Inside Line/News
Previous life: Detroit News auto columnist

My brand: Global news coverage with emphasis on emerging markets
Hours worked per week: 60
Annual sales: Sorry. Proprietary info.

What I wish I had known when I started: That it really didn’t matter how much time I took off to raise my kids.
Best business advice ever received: Strike a balance between family and work.
Best marketing tool: Reputation

Biggest business mistake: Sticking with a dying newspaper for too long.
My happiness on a scale of 1-10 with 10 being supremely so: Nine.
Best part of being an entrepreneur: Working with my husband.
Worst part: It’s all on our shoulders.

Biggest professional regret: Not enough formal education – B.A. only.
Advice to would-be entrepreneurs: Fight the temptation to make your work a 24/7 obsession.

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1. Michelle Leder:
   Editor, founder of footnoted.org
2. Glenn Burkins:
   Qcitymetro.com editor, publisher
3. Aaron Kremer:
   Founder, editor of Richmond BizSense.com

Age: 48
Home: Charlotte, N.C.
What I do: Publish and edit Qcitymetro.com, an online news site for African Americans in the Charlotte, N.C., region.
Previous life: Last job was deputy managing editor at The Charlotte Observer. Was a reporter at The Wall Street Journal, The Philadelphia Inquirer and St. Petersburg Times. Was business reporter, Africa correspondent, labor/workplace reporter and White House correspondent.

My brand: It’s all about community.
Hours worked per week: No fewer than 80.
Annual sales: Too early to assess.

What I wish I had known when I started: How much work/money/time it would require?.
Best business advice ever received: Rome wasn’t built in a day.
Best marketing tool: Facebook

Biggest business mistake: Picking the wrong company to build the site.
My happiness on a scale of 1-10 with 10 being supremely so: Ten, if I ignore my eroding finances.
Best part of being an entrepreneur: I am the decider.
Worst part: I am the financier.

Biggest professional regret: Can’t think of one.
Advice to would-be entrepreneurs: Don’t underestimate how much work/money/time it will take.

Related posts:

1. Michelle Leder:
   Editor, founder of footnoted.org
2. Aaron Kremer:
   Founder, editor of Richmond BizSense.com
3. Anita Lienert:
   Editorial director for Global Auto Systems

Home: Peekskill, N.Y.
What I do: Mostly read and report on SEC files, but some other stuff, too.
Previous life: Reporter for daily newspapers

My brand: footnoted.org
Hours worked per week: Lots
Annual sales: Thankfully, I’m not a public company, so I don’t have to disclose this.

What I wish I had known when I started: A bit more coding
Best business advice ever received: Don’t try to be all things to all people — do what you do best.
Best marketing tool: Me

Biggest business mistake: Giving away valuable information for free — leads to expectations that it will continue to be free.
My happiness on a scale of 1-10 with 10 being supremely so: Seven
Best part of being an entrepreneur: Getting to take hikes with my dog in the middle of the day.
Worst part: Working way too many hours.

Biggest professional regret: Giving away my best stuff.
Advice to would-be entrepreneurs: Find something you enjoy doing. and if it happens to be something that has the potential to make money, that’s even better.

Related posts:

1. Aaron Kremer:
   Founder, editor of Richmond BizSense.com
2. Glenn Burkins:
   Qcitymetro.com editor, publisher
3. Anita Lienert:
   Editorial director for Global Auto Systems