Crain’s Chicago charging to be considered for “40 under 40”

Crain’s Chicago Business charges for business people to be considered for its annual “40 under 40” list, reports Robert Feder.

Feder writes, “‘As is standard for many respected award programs that require significant resources to produce, such as the Chicago Headline Club’s Lisagor Awards and others, there is an entry fee for Crain’s ‘40 Under 40,’’ publisher and executive editor Jim Kirk told me. ‘The revenue generated by these fees also helps Crain’s provide the high level of reporting our readers expect.

“‘As has always been the case, our reporters and editors employ their deep knowledge of the business community to select many honorees for 40s every year who have not gone through the formal nomination process. We carefully consider every paid nomination as well. That combination gives us one of the most compelling rosters of business talent honored in Chicago during any given year.

“‘We also continue to run many award programs with no nominating fee, such as our Notable executives series, and evaluate the mix of such programs on an ongoing basis,’ Kirk said.

“It’s precisely because I have such high respect for Kirk, editor Ann Dwyer and the ethical standards they represent that I find it so disheartening. I wish they’d reconsider before their ’40 Under 40′ franchise loses any more credibility.”

Read more here.