2009 Loeb Award winners announced

The Loeb Awards, established in 1957 by the late Gerald Loeb to recognize journalists who make contributions to the understanding of business, finance and the economy, held the 2009 awards banquet last night, where winners were announced.

The awards include two special awards for career contributions: the Lifetime Achievement Award, which was given to Bill Emmott, former editor-in-chief of The Economist; and the Lawrence Minard Editor Award, which went to Lawrence Ingrassia, business and financial editor of The New York Times.

There were awards given in 12 additional competition categories such as online, breaking news, magazines and beat writing.

See the list of 2009 Loeb Awards recipients here.

Finalists for the Loeb awards in business and financial journalism

Finalists of the 2009 Gerald Loeb Awards for Distinguished Business and Financial Journalism were recently announced along with the winners of the Lifetime Achievement Award and the Lawrence Minard Editor Award.
Bill Emmott, former editor-in-chief of The Economist who retired in 2006 after 13 years in the position, received the Lifetime Achievement Award. The Lawrence Minard Editor Award went to Lawrence Ingrassia, business and financial editor at The New York Times.
Finalists for the awards include:
* Robert O’Harrow Jr. and Brady Dennis for “The Crash: The Rise and Fall of AIG” in The Washington Post
* David Heath and Christine Willmsen for “The Favor Factory” in The Seattle Times
* David Leonhardt for “Obamanomics” in The New York Times Magazine
The 12 winners will be announced on June 29 at the 2009 Loeb Awards dinner. To read the full list of finalists click here.

FBN Stock Market Editor: "We're not going to hit bottom until 2011 or 2012"

In an interview with Woman Around Town, Elizabeth MacDonald, stock market editor at the Fox Business Network, shared her views on the economy, the bailouts and a future turnaround for the markets. MacDonald said she is pessimistic, and noted that she does not anticipate a market bottom until 2011 or even 2012. She said the bailouts, which were a product of "hysterical blindness," may not work. "I have lots of concerns including the impact of government's fiscal recklessness (which I should note also occurred under President Bush) and a potential national security issue now that China holds massive amounts of U.S. debt," she added.

MacDonald has the following advice for investors:

Start socking away your money in a decent bond fund with long-term bonds, not short-term debt instruments, which tend to be more volatile, and max out your 401(k). Save, save, save because the U.S. government is deeper into the economy than ever before. And your taxes and costs are going to go up.

MacDonald has received multiple awards for her business coverage, including the Gerald Loeb Award for Distinguished Business Journalism. Prior to joining FBN, she worked for Forbes and The Wall Street Journal.

For more click here.