The downturn reaches a Mongolian goat farm

Today, The New York Times ran an article called "Soft Market for Cashmere Takes Toll in China" that shows the yo-yo effect of the recession from America to China and back again.
The story speaks with goat farmers, yarn factory workers, and sales managers to trace what the drop in America's cashmere demand has meant for people in Mongolia and China.
Accompanying the article is an illuminating piece of multimedia. While a modest slideshow, it tells a strong visual story of the recession's impact on cashmere from a small Mongolian goat farm all the way to Saks Fifth Avenue in New York.
Stories that veer away from the obviously suffering industries (autos, banking, etc.) are more necessary than ever at a time when media organizations can get tunnel vision for the industries frying in the spotlight.
Covering the less blatantly struggling industries not only provides greater coverage diversity but adds detail to the overall picture of the economic recession to show that our problems are more widespread (both in the United States and abroad) than many perceive.
You can view the story here and the slideshow here.

What industries have you covered in the context of the recession? What's a strong piece of business multimedia you've seen? Comment and tell us about it or send it to The Pulse at businessjournalism@businessjournalism.org!

Photo credit: Timothy O'Rourke for The New York Times.

GM bankruptcy-what does it mean for me?

The Wall Street Journal has written an essential piece summing up how General Motor Corp.'s application for Chapter 11 will impact new-car deals, resale value, warranties, service and other car makers.
Summing up the Chapter 11 repercussions on businesses and individuals in layman's terms is the only way to address that ever-important question: What does it mean for me?
View the story here.

GM bankruptcy: an opportunity?

The New York Times journalists Jack Healy and David Stout wrote an interesting piece today examining the positive spin the White House and General Motors Corp. are trying to put on the company's recent filing for Chapter 11 bankruptcy.
Great analysis like this of how business events are framed by those involved will never fail to serve readers a healthy dose of perspective.
From the story:

"In Washington, Mr. Obama was more than halfway into a speech before he mentioned the word "bankruptcy” in the same breath with “G.M.” Fritz Henderson, the company’s chief executive, spoke for 20 minutes at a news conference before saying the b-word. And a press release from G.M. described the move as a 'fast track to competitive future.' "

View the story here.

GM retirees get the shorter end of the stick

A flood of stories on General Motors Corp. washed over the unsuspecting public this morning. As of 10:04 am MST, there were 52,479 stories on Google News about G.M. filing for bankruptcy.
While many stories covered the necessary basics of what happened, some went beyond to look at the more detailed picture of the company's financial collapse. Forbes' story "A Sickening Outcome For GM Retirees" is a good example of highlighting the personal and devastating in what could be the faceless falling of a company.
At a time when people are still waiting to see the full fallout of a company's chapter 11, it's important to remember the people at the heart of the company and the story.
View the story here.

Report for your community by going oversees

The world is intertwined. Show your readers by connecting the dots.
A fellowship through the World Affairs Journalism Fellowship Program gives U.S. journalists a chance to cover a global story of local importance.
At a time when international reporting is shrinking, the fellowship covers expenses and provides support so that fellows can go abroad for two weeks to research and report stories that matter to their local community.
Applications are due by June 10. Click here for information on how to apply.

The recession interactive

Portfolio.com, despite its rocky road to survival over the past few months, hasn't faltered in creating outstanding interactive media covering business. Its packages have simplified recent economic issues and put them into context in a clear, visual way.
Take the interactive multimedia with Band-Aids for the Ailing Economy, for example. Portfolio staff created a comprehensive timeline from 1860 to 2008 showing fluctuations in the nation's gross domestic product, wars, financial crises, house majority and major government regulations on the banking industry. This piece not only displays the nuances of what contributes to a faltering economy, but puts today's recession into context in America's financial history.
This multimedia feature achieves what all business coverage should-it takes vast amounts of complex data and facts and serves it to users in comprehensible, chewable pieces.
Some other Portfolio interactive pieces to check out:
Wall Street's Graveyard, Brother, Can You Spare $2?, The Green Miles, Subprimal Headquarters, and False Starts. The graphic Uncle Sam's Growing Portfolio is also worth a look.

To see Portfolio's interactive features section, click here.

WSJ chimes in on press coverage

NPR talks with economics editor of The Wall Street Journal, David Wessel, to chat about the highly-criticized role of media coverage during the financial meltdown on Tuesday's Talk of the Nation newscast.
Listen to the conversation here.

MoneyWatch.com increases video presence

CBSMoneyWatch.com is stepping up its online video presence through original programing and an increase in financial content, according to reports from The Huffington Post.
The personal finance site was launched last month. Now, a set and studio is currently in the works, one that will allow contributions to produce daily segments for MoneyWatch.
From the story:

The video-centric site, which features a prominent video player on the landing page, produces at least three original videos each week and adds about four to five videos to the site each day from the network's existing financial and business coverage from news programs like "The Early Show" and "The CBS Evening News."

MarketWatch.com gets a makeover

Reuters reports that MarketWatch.com launched a redesigned Web site today, one that's aimed to attract sophisticated professionals and bring in a wider class of advertisers.
According to the report, the site's new design packs in more content, stock quotes on demand, customized data and charts. It will also offer breaking news, analysis and market data in automatic updates.
From the story:

"It also plans to refine its focus on markets coverage, increase its technology story coverage, step up its presence overseas in places such as Japan, Israel and Canada and emphasize commentary -- a growing trend among news outlets trying to branch out beyond offering "commodity" daily news."

Local TV stations in Chicago form news service

Four local TV stations in Chicago will begin combining their coverage efforts and sharing content next week in an effort to save money, according to the Chicago Tribune.

Tony Capriolo, a WMAQ sports producer, has been selected as managing editor of the service, which will be based at WBBM's headquarters across from Daley Plaza but separate from Channel 2's news operation. Each participating outlet will provide two news crews and an assignment editor, and they remain on their station's payroll. Capriolo is an employee of the service, paid for by participating stations.

While the service will save its member stations money otherwise spent on covering the same event or story, some worry that it will make it easier for the stations to lay off employees who are no longer needed.
The stations, on the other hand, say that the move will allow them to cover more angles and stories than they could before.
Click here to read more.