Thomas Anderson, the associate editor of Kiplinger’s Personal Finance who earlier this year wrote about how speculative penny stock companies were using business magazines to pump up their stock prices, now writes about how they’re advertising in newspapers.
“Kiplinger’s Personal Finance magazine has refused to run such ads, but the industry standard is lax. The New York Times, for example, says that if a stock is listed and registered with the Securities and Exchange Commission, it will run an ad promoting it. Says Abbe Serphos, spokeswoman for The New York Times, ‘Since the SEC is the regulatory body that oversees such stocks, we believe that the listing or delisting of these stocks gives us an indication of whether to accept these advertisements.’
“A reason so many prestigious publications accept such ads may be because times are tough in the publishing business. Maria Terrell, an associate director with the International Newspaper Marketing Association, says this is the first time that newspapers have seen an advertising decline in a growing economy. Members are debating whether to run ads from escort services, makers of herbal products to treat erectile dysfunction and penny-stock promoters that they wouldn’t have considered in boom times, she says.”
Read more here.
The Yale Program on Stakeholder Innovation and Management announced the appointment of Alan Murray, departing chief…
The Advocate is looking for a savvy reporter to cover the Baton Rouge business scene…
MLex, a LexisNexis company, is an independent news organization for breaking news and forward-looking analysis…
The Austin Business Journal seeks a staff writer to cover economic development in one of…
A Russian court on Saturday placed Sergei Mingazov, a journalist for the Russian edition of…
Justin Nielsen of Investor's Business Daily writes about the newspaper's 40th anniversary. Nielsen writes, "When the…