Back in October, when PRWeek drooled over Burson Marsteller for instituting a new PR campaign for Countrywide Financial to help them out of the financial trouble they were in, we asked whether the campaign was a waste of time and money.

Well, turns out we were right. Our prediction (10/13/07) that Bank of America would take over Countrywide Financial was spot on. Granted we were slightly off on the date, we said it would happen within the year.

Now what I want to know is this: How could PRWeek have run such a glowing story without taking the economy into account? Your head would have had to be buried deeply in the sand to not comprehend what effect the economy was having on the mortgage industry and homeowners.

Instead of acting as a cheerleader, I would expect the reporter and his or her editor to take a step back during the reporting process and ask themselves a simple question. What happens if? Surely any battle worthy reporter/editor would have raised this question. Or am I being too naïve?

Either way, I’m not surprised we made the right call. Effective PR practitioners can always tie their client’s stories into local, national and world events no matter what industry the client represents. But I also can’t help but feel sorry for PRWeek. After all, it’s a lot harder for a publication to ask tough questions of interviewees when they’re leading the cheers and the interviewee is one of your largest advertisers.

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BusinessWeek editor Stephen Adler’s memo to staff yesterday regarding an extensive editorial reorganization at the magazine:

Colleagues:

For the past three years, we’ve been moving progressively toward integrating our print and digital operations – by increasing reporters’ contributions to Businessweek.com, combining our overseas bureaus and copy-desk teams, and seating together everyone within a given coverage area. Today we complete this vital transformation by creating a single editorial organization for BusinessWeek. The new structure will enable us to collaborate more effectively, take greater advantage of everyone’s abilities, learn new skills, and serve our readers and Web users better.

Under this new structure, one chief editor will supervise all work in print and online in a particular coverage area. Each chief will report jointly to Executive Editors John Byrne and Ellen Pollock, both of whom will continue to report to me. Here’s the lineup:

News Chief: Brian Bremner
Finance/Personal Finance Chief: Frank Comes
Small Business Chief: Jim Ellis
Tech Chief: Peter Elstrom
Science Chief: Neil Gross
Corporations/Workplace Chief: Mary Kuntz
Innovation Chief: Bruce Nussbaum
Global and Policy Chief: Chris Power

The chief editors will get in touch with everyone who will work within their groups later today or tomorrow. We’ll phase in the new structure between now and Jan. 1. Let’s plan on a staff meeting for early January to discuss all this further.

In other new assignments springing from this reorganization, Dan Beucke will become BusinessWeek.com News Director, reporting to Brian Bremner; and Suzanne Woolley will become Senior Editor for Personal Finance, reporting to Frank Comes.

While we’ll all be working together editorially regardless of delivery platform, we’ll continue to sweat the production details that enable us to create both a topflight magazine and a first-rate Web site. Recognizing the special skills required to excel in these two very different media, I am appointing Ciro Scotti as managing editor of the magazine and Martin Keohan as managing editor of the Web site to ensure that we preserve the highest possible quality as we produce each product – and that we meet our various deadlines.

Ciro joined BusinessWeek in 1978, after reporting stints at daily newspapers. Since 2005, he has been an assistant managing editor, deftly overseeing production of the magazine, writing the very best cover headlines, and casting a sharp editorial eye over all our copy. Previously, he was a senior editor, responsible for the copy desk and for government and sports-business coverage. Ciro will continue to report to Ellen Pollock.

Since 2003, Martin has served as director of editorial operations for BusinessWeek.com, skillfully ensuring collaboration and efficiency among the news and channel editors, copy desk, art department, production, and technology. Prior to his role with BusinessWeek.com, Martin served as editorial director for BusinessWeek Events, where he created the BW50 Forum and the CEO Summit Series. Martin will continue to report to John Byrne.

Unfortunately, in connection with the reorganization, a small number of our editorial colleagues will be leaving BusinessWeek. It’s exceedingly difficult to part with valued co-workers, and decisions to eliminate positions aren’t made lightly. I want to thank those who are leaving for all their good work and wish them well in new endeavors.

Despite the challenges of the past few years, our journalism has been extraordinarily strong, and both readers and online users clearly have taken notice.

– Our total magazine readership was up 3% in the last MRI tally, to over 4.9 million, more than at any time since 1998;

– Newsstand sales were up 25% in the latest report, while most of our competitors were down or flat;

– We achieved a new online usage record in November with 64.7 million page views.

As our new organization takes shape over the next couple of weeks, I’m confident that it will build on these achievements and create exciting opportunities for the BusinessWeek team. Congratulations to all on their new assignments.

###

(Notice the memo doesn’t mention that advertisers are cutting back on spending money in BW. It’s one of the reasons why the magazine has to make these cuts.)

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Here’s an example of the Peter Principle. You know, people rise to their own level of incompetence. Except in this case, the culprit is Crain’s New York Business.

So I’m reading this week’s issue of Crain’s and on page 15 I come across an article written by Elisabeth Butler Cordova with the headline, “Facebook value: Editor hired via social networking site.”

Now you don’t have to be a rocket scientist to know what the article is about so I’ll spare you the details.

However, what I’m trying to figure out is what makes this story newsworthy and how was this story approved?

After all, you can’t tell me that Crain’s is just waking up to the fact that people are getting hired through social networking sites! BlinnPR has found many a freelance writer and publicist through Linkedin, as I’m sure other PR firms have as well.

And don’t tell me this might be the first time Crain’s actually had sources to interview because a little grunt work or even a Profnet query could have produced sources long ago.

No, I think Crain’s really didn’t know stuff like this was happening. And if they didn’t know, what could we infer about the staff and publication?

I remember reading a memoir of Murray Kempton, former columnist with Newsday, and he said ideas for his columns came from getting out of the office (he never learned to drive) and watching and listening to what was going on around him.

Excellent advice for journalists or publicists in today’s hectic media environment.

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John Foley at InformationWeek writes, “Business-technology startups have a new channel for getting the word out about their products and services. InformationWeek will begin highlighting startups each week in a new section of the magazine called Startup City. Emerging tech companies.”

Tech startups are invited to nominate themselves for coverage by completing an online application that involves basic information about their offerings, founders, and funding. Entrepreneurs can find a link to the form on InformationWeek’s related Startup City weblog or by clicking here.

InformationWeek editors will evaluate the submissions received each week and choose a newbie to write about in the magazine. Startups that complete our online application will also be considered for other types of editorial coverage, including blog postings, news stories, and features.

The ground rules: They’re mainly interested in tech startups geared toward business environments, less so in consumer-oriented gadgets and Web sites. They should have a business model, funding, and a year or two of experience, including, preferably, early adopter customers.

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Amid steadily decreasing advertising revenue, Time Inc.’s renowned, new economy magazine Business 2.0 will fold after its October issue.

No surprise to The BlinnPR Report. In fact, we said back in July amide the hullabaloo on Facebook that it was time to put the magazine out of its misery. Once your corporate parent starts consolidating staff it’s time to look in the mirror and seriously ask yourself what value you bring to the bottom line. After all, how many Top 10 lists can a magazine publish?

But this entry is not about ripping on Business 2.0. It’s about predicting what magazines will follow Business 2.0 to the grave.

Here they are.
1) Fortune Small Business. Another magazine not adding value to the bottom line. Plus, how many “small business” magazines do we really need to subscribe too. DOD — First quarter ‘08.

2) Wired. Lost its relevance. Yes, they have Conde Nast’s deep pockets backing them up but watch what happens when circulation number keep falling and advertising dollars dry up even more. DOD — First quarter ‘08

3) Fast Company and/or Inc. Magazine. It’s a toss up. However, if I had to say which one it’s Inc. Why? Just pick up the latest issue of the magazine. In fact, go back and look at a few of the past issues. DOD — Second quarter ‘08.

4) Portfolio. The first issue was disappointing. The second issue was, well, let’s just say it didn’t inspire any confidence. Putting aside what the gossip columns say or the staff turnover, Portfolio is trying to cover business news on a monthly basis and it can’t be done. By the time you read a new issue the news is old, outdated or irrelevant. How many people do you think are going to subscribe to a magazine that publishes old news? Another problem, trying to give business news entertainment glitz. I don’t think it can successfully be accomplished. Business and entertainment news are on opposite ends of the spectrum. Good luck trying to mix Access Hollywood and Ben Bernake. DOD — Third quarter ‘08.

So there you have it. The four magazines we believe are going to follow Business 2.0 to the magazine graveyard. If you think we’ve missed some or if you agree/disagree, let us know.

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PR Newswire is seeking a leading business expert (company executive or academic) in New York, Chicago, San Francisco and Seattle to sit on a panel. This person will address the need to improve communications in China in order to improve trade and understanding.

This expert may also focus on the Chinese economy and what it means to Western companies. The discussion will focus on media distribution, market overview, cultural expectations and differences, etc.

Contact David Korvah, David.Korvah (at) prnewswire.com. David’s deadline is August 29, 2007.

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And I mean that in a good way. Not my cynical way of looking at the world either.

Lenore Skenazy, of the New York Sun, is writing a story on “Help, I’m (technologically) stuck in 1998.” I love the title. It definitely caught my attention.

The Profnet query goes like this, “Are you, too? Do you have no idea how to do half the things (like download personalized stamps from the post office) that apparently everyone else finds easier to do than peeling a banana? If so, do you think you’d like a little help? That’s what I’m writing about. I think someone should start offering, “Help, I’m stuck in 1998″ seminars, and go through everything from uploading photos to downloading ringtones. I’m also interested in things like Verizon’s new store, where you can practice downloading music, and Cingular’s class for parents on “how to text message your kids.” I’d love to hear of any other things companies are doing to help those — like me — who are the “Left Behind.”"

If you’re interested in helping Lenore her deadline is 7:00 PM EST today. Her email is lskenazy (at) yahoo.com

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The reason I ask is because I’m reading an article by the technology reporter of a local NYC business publication, and I’m not impressed. Not by the writing, but just the vibe of the story.

After reading the article, I get the impression the reporter didn’t put much effort into writing the story and avoided asking tough questions. That he/she used a cookie cutter approach to writing the article and didn’t push back during interviews.

Unfortunately or fortunately if you’re in PR, I’m seeing this more and more. So I ask you, do reporters, whether it’s a local publication like the one I speak of or the Wall Street Journal, rise to their own level of incompetence?

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