Word: heralds
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Dates: during 1980-1989
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During his yellow-journalism heyday in the 1930s, Hearst dictated rat-a-tat headlines and punished political enemies in 18 big-city papers, including the New York Journal-American, the Chicago Herald-American and the Pittsburgh Sun- Telegraph. Today the company publishes 15 dailies, most of them in smaller cities such as Midland, Texas, and Bad Axe, Mich. After years of mounting losses, the firm sold the Boston Herald American to Rupert Murdoch in 1982 and shut down the Baltimore News-American four years later. As if to prove that it was not deserting big cities entirely, Hearst bought...
...Angeles Herald Examiner (circ. 240,000) has been hemorrhaging money for a decade and currently loses an estimated $10 million to $14 million a year. Once in a tight race with the Los Angeles Times, the paper suffered a nine-year strike that began in 1967 and cost it 400,000 readers. Now the Herald Examiner's 170 editorial employees seem destined to play David to the Goliath Times (circ. 1.1 million), with its 850 staffers and annual profits of $200 million. Though the Herald has much to commend it, including playing up local stories and sometimes producing sprightlier writing...
Though they remain in the minority, a growing number of economists believe the proliferating danger signals may herald a downturn. Says Pierre Rinfret, an economic adviser to President Nixon: "Continued decline of the dollar, coupled with fears of higher interest rates and inflation, will produce a recession before the end of the year." Henry Kaufman, Salomon Brothers' chief economist, suggests that there could be a recession...
...speech before the newspaper publishers, Hart charged that the Herald reporters had "refused to interview the very people who could have given them the facts before filing their story." Executive Editor Heath Meriwether sharply disputed the charge, pointing out that the Sunday story contained responses from both Broadhurst and Hart. Says Savage: "If Hart had even hinted that he wanted to talk to us again later, we would have done that. But he never told us he would give us any further information...
Many journalists faulted the Herald for not being more cautious with such an explosive story. "They rushed the story into print," says George Cotliar, managing editor of the Los Angeles Times. "I think I would have waited for a day to see what Donna Rice had to say." The Sunday story, in fact, was printed before the Herald even learned Rice's name. But Howard Simons, former managing editor of the Washington Post and now head of the Nieman Foundation at Harvard University, defends the Herald's actions: "If they'd waited a day, they wouldn't have known anything...