The union that represents Forbes editorial staffers sent out the following on Friday:
As the members of the Forbes Union, we are dedicated to improving the working conditions of our members and protecting the journalism we practice.
Recently, we saw yet another story about a possible sale of Forbes but this time to a deeply troubled potential buyer, Koch Inc.’s private equity arm. Forbes CEO Mike Federle would neither confirm nor deny a sale in an email update to staff.
Over the past several years, Forbes has entered in several failed sales, each one fraught with ethical minefields for the members of the newsroom. This alleged sale would be no different. Reporters in our newsroom cover the Koch family, who are longstanding donors to libertarian and conservative causes. This is why we are fighting for editorial integrity provisions in our contract that would guarantee a strict separation of the business interests of the company and its owners and the editorial decision-making process. The newsroom’s independence must be guaranteed. We refuse to become a tool of political activism.
Corporate decisions like these are the exact reason we approved a vote of no confidence in Federle as well as Randall Lane, chief content officer. They have not upheld newsroom separation and ethics in the pursuit of chasing dollar signs.
No matter what happens with Forbes, we are the reason readers continue to turn to us. Our journalism is the value behind Forbes. As Forbes management continues to chase dollars, we are laser focused on preserving our editorial integrity with a strong contract that recognizes the value of our members.
