Word: journalizing
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...What she failed to mention, or perhaps appreciate, is that the company let its most valuable commodity slip away. Last December, Teresa Earnhardt told the Wall Street Journal that her stepson had to make a choice between being a driver or a public personality. What that statement illustrated was not so much Earnhardt's conundrum but her own failure to recognize that his celebrity was, is and will be the driving force behind the lucrative sponsorship deals and broad-based fan support that fuel the business. In a time when even well-heeled shops like Roush Racing are looking...
...Boston boardinghouse owner Jessie Barron bought Dow Jones & Co., publisher of the Wall Street Journal, with a down payment of $2,500. She did this at the behest of her longtime boarder and not-so-longtime second husband, financial writer Clarence Barron. But Mrs. Barron really was the owner, and when she died in 1918, her majority share passed to her daughter by her first marriage, Jane Bancroft...
...since his death in 1933, the family has mostly kept its hands off. "I want you to do what's best for the company," Jane reportedly told her husband's successor, reporter turned manager Casey Hogate. "Don't you and the boys worry about dividends." The modern, globe-spanning Journal was thus built by "the boys" from the newsroom while the Bancrofts stood benignly by (though they did, as the Journal returned to health after the Depression, eventually start caring about dividends...
Left standing are the great exceptions to the eat-or-be-eaten model, the family-owned companies behind the country's three best newspapers: the New York Times, the Washington Post and the Wall Street Journal. The Bancrofts were unique in their disengagement from the business they controlled. But their view of the company they inherited as a trust whose value exceeded the dividends it generated was shared by the more hands-on Sulzbergers of New York City and Grahams of Washington. "It's not just family ownership," says Alex Jones, director of Harvard's Shorenstein Center on the Press...
...Reddy's Laboratories in India, it contains small doses of several well-known medications: aspirin (to prevent blood clots), a statin (to lower cholesterol), and two blood-pressure-lowering agents. When two British researchers pushed the case for the polypill in a 2003 report in the British Medical Journal, they argued that if taken daily by people with vascular disease and those aged over 55, it would cut the incidence of heart attack and stroke by more than 80%. While advocates have retreated marginally from that claim, their enthusiasm is palpable. "In terms of delivering care at the community level...