No “vampire squid” phrases in Bloomberg Markets

Kat Stoeffel of the New York Observer writes about Bloomberg Markets magazine, interviewing its editor Ron Henkoff and how the magazine differentiates itself from other business glossies.

Stoeffel writes, “As far as advertisers are concerned, this means Markets readers largely work in finance and as such are astronomically rich, influential and desirable, but potentially less engaged than the reader who sought out the subscription. It also means Mr. Henkoff must consider certain Bloomberg terminal customers—like banks and financial firms—as both his readers and the subjects of his investigations.

“‘They’re big, they’re hugely influential, they’ve led us through this global financial crisis, and they need to be held to accountable,’ he said. ‘It’s the deal Matt Winkler struck with [Mayor] Bloomberg: ‘I have to be able to write what’s true, accurate and fair about your biggest customers’.’

“Goldman Sachs certainly counts among them. The company’s flagging performance was given a critical treatment in March’s issue, and Markets didn’t pull any punches. That said, the magazine won’t use unnamed sources, and you won‘t find coinages like Matt Taibbi’s now ubiquitous ‘vampire squid’ line anywhere within it.

“‘It’s a good phrase, but it’s not our style,’ he said.”

Read more here.