Business Desk Experience Translates Into Advice for Newcomers

It was an odd set of circumstances that brought me to the business beat.

After more than 20 years in journalism � the last nine of which were spent in the hallowed halls of management � I was dogged by the sense that I was missing out. My days were spent in meetings or in front of a computer, dealing with budgets and personnel issues. And although each day included news meetings, I felt distant from the actual practice of journalism.

Plus, I wanted more time at home with my family. So, with some trepidation, I asked my boss if I could go back to reporting. Back to the trenches. Back to pounding a beat.

But which beat? I'd logged enough hours covering selectmen and school committee meetings to know I wasn't interested in government or education again. Nor did I want a feature-writing beat. I'm one of those journalists whose pulse quickens at the sight of filing cabinets in the bowels of the Registry of Deeds. Oh, the potential stories lurking in those drawers!

I needed something that was a mix of hard news and feature writing, but not from a beat based on process. And that's when I considered business reporting (plus, there was a staff opening, which has a funny way of focusing your thinking).

It wasn't a natural fit. I knew nothing about the business world. I couldn't read a balance sheet. I didn't understand how deals are made, who the real players are.

Plus, I come from that pool of journalists who look at profits with some suspicion. Which labor class/environmental loophole was exploited in pursuit of that bottom line?

And the jargon intimidated me. I knew enough to realize that income, revenue, earnings and profit were all good things, but the terms could not be used interchangeably.

Still, I thought I could use my ignorance as an advantage. A reasonably intelligent woman, I figured if I didn't understand these things, neither did most of our 100,000 readers. If I could decode the concepts, figure out the impact and write about them in clear, easy-to-understand language, I'd be doing myself and the readers a service.

Maine has a very small-business complexion. More than 96 percent of the businesses employ fewer than 50 people. Our taxes, energy and health-care costs are high compared with the rest of the country. Income is below the national average. Jobs, growth and the pressures on small business are important topics to our readers.

I took on the beat at a perfect time. Business has been booming in Lewiston and Auburn, the twin cities I cover. Both cities have led the state in economic development for two of the last three years. It keeps me busy.

My stories range from features on new businesses to forecasting retail developments to analyzing paper mill sales to Chamber of Commerce breakfast speakers. I recently interviewed a woman who's worked at Dunkin' Donuts for 25 years.

So it's turned out to be just what I was hoping � a good blend of hard news and feature writing. And what advice can I offer after two years on the beat?

� Get to know the players. Here, that means real estate brokers and developers. They know everything first. You might not be able to get them on the record, but they often give you enough to point you toward a paper trail.

� Find experts and ask for their help. College professors. Retired executives. Publishers of trade journals are especially helpful. They understand their particular industry and can describe it in laymen's terms.

� Always keep your antenna up for potential sources and contacts. When a local paper mill was bought by a New York City hedge fund, I called a portfolio manager who sat next to me at a conference months before. He gave me a quick primer on hedge funds � enough to feel I could call the hedge fund manager and not make a fool of myself.

� Don't forget the basics. Be curious. Check the plans that are submitted for planning board review. Ask to see recent traffic studies. Peruse real estate transactions. Mingle whenever you can and ask people what's going on. It's astonishing how many times someone will say they have a relative on a crew that's beginning work on a big (secret!) project.

� Avail yourself of whatever training you can find. There are lots of good business reporting books out there � read them. Nearly all the big journalism institutions offer subsidies to attend their business reporting seminars. Go to the free Reynolds Center at API workshops. I keep the folders from the three workshops I attended right next to my computer.

� Have fun. The people you meet on the business beat are great. They are the real movers and shakers, people with vision and the nerve to risk their own money to pursue it. They all have compelling stories to tell � it's a blast being the conduit.

One of the best compliments I've received since returning to reporting came from my editor. He told me if he ever returns to reporting, he wants to cover business, because I've shown how interesting and fun it is. Coming from another 25-year news veteran, I think that's high praise indeed.

Copyright © 2008 Donald W. Reynolds National Center for Business Journalism