Place These Gifts under the Business Journalist's Tree

By Chris Roush
December 7, 2006

Now that the gift-giving season is upon us, I've been reflecting on what would make a good present for a business journalist. Here are some ideas -- real and imagined -- if you're struggling to find that perfect idea.

First, the real gifts:

1. The book "24 Days: How Two Wall Street Journal Reporters Uncovered the Lies that Destroyed Faith in Corporate America" would make a nice gift for any aspiring investigative business reporter. Written by Rebecca Smith and John Emshwiller, it takes you inside the newsroom and shows you the tactics used by these reporters when they covered Enron's downfall. There are some tricks to be learned here, as well as real-world mistakes. Amazon.com is now selling the hardcover edition at a steep discount -- less than $10.

2. Membership in the Society of American Business Editors and Writers. An individual membership costs $50, but a business reporter or editor gets the money back and more with a subscription to its publication, The Business Journalist, and other information available on its newly revamped Web site. If the one you love is serious about business journalism, then they must belong to SABEW.

3. A subscription to The Wall Street Journal or Fortune. If that special someone wants to be the best business journalist, then they should read the best business writing. The Journal and Fortune stand above all the rest. Another option to consider is a subscription to the new Conde Nast Portfolio, although the first issue won't be out until April 24. However, a year is just $15.

Now, for some gifts I'd like to give but can't:

1. The past year of Jim Cramer's "Mad Money" show on DVD. Hey, other television shows such as "24" and "Sex and the City" sell entire years worth of their programming at Blockbuster and other retail outlets, why can't the best-known investing show? Think of the hours of endless entertainment your spouse will receive by going back and watching Cramer wearing a diaper on one show, and his rants about certain companies. In reality, Simon & Schuster will publish a book called "Jim Cramer's Mad Money: Watch TV, Get Rich" this month. I expect a DVD next year.

2. A "BS detector" to take on interviews with corporate executives. It would come with different settings, from mute to vibrations to increasingly loud rings. A business reporter could even set it on the table right next to their tape recorder, and they could watch how bright the light gets during the course of the interview. With the ring on, the CEO will know he's crossed the line when he can't speak above the noise. Value: $125 from The Sharper Image.

3. Computer software that can read earnings stories and other complicated business writing and tell the writer when something is amiss. This hypothetical program would work just like Microsoft Word does in correcting grammar and spelling, but it would catch mistakes such as earnings in "billions" when it should be "millions." Value: Priceless.

Have a nice holiday.