Loeb Awards need to add new category

Dan Gillmor, writing on his Center for Citizen Media blog, argues that the Loeb Awards need to add a new category to honor business and financial journalism.

Gillmor writes, “Another conspicuous — and related — issue is the shutout of serious online-only journalists, even in the commentary category where in the finalist list is in the new online category, dominated by Big Media online operations. Again, the work cited is for the most part superb. But some of the best economic journalism, especially in commentary, is being done by new-media folks. Perhaps they didn’t know they were eligible for the Loeb awards, but the total absence of their work is noteworthy nonetheless.

“If the Loeb team really wanted to spur on great economic reporting, it could add a category: a foresight award for people who were way ahead of their peers in spotting issues that only later — usually too late — are understood by the herd. The Pulitzers could use something like this, too.

“In the case of the credit bubble, there would be ample reason to look at some online work, especially among bloggers who saw the bubble early and talked about it incessantly, backing up their work with detailed analysis and data-based evidence. They were too early, however, for a journalistic establishment that rarely acknowledges a crisis until it’s causing or about to cause massive pain.”

Read more here.