Steiger: Changes in biz journalism have been good

Wall Street Journal managing editor Paul Steiger conducted a Q&A interview with I Want Media, and he reflected on some of the changes he’s observed in business journalism in the past 40 years.

IWM: You must have seen a lot of changes in newspapering in your 40-year career. Have all the changes been good?

In the space of business news, changes have been overwhelmingly good. There used to be very few people doing business news. It was the least competitive zone. At the typical metro paper they sort of took the old drunks and put them out to pasture in the business section. Most papers were usually interested in just a little copy to put around the stock tables.

That’s been totally transformed, starting in the late ’60s and ’70s when papers around the country started expanding the amount of space devoted to business. When the Journal recruits now, we find people who have experience covering business and don’t feel insulted if you suggest that they might want to work for a newspaper that’s oriented toward business. So the talent pool is just amazing. The talent and skills of people that I see in my corner of this field are enormously better than they were 40 years ago. That’s very rewarding to see.

IWM: What changes have you seen that are not so positive? Steiger: The thing that I try to lean against is pack journalism: when somebody writes something, lots of other people feel obliged to follow. I think the best stories are often when you go in the opposite direction of the pack.

The thing that I try to lean against is pack journalism: when somebody writes something, lots of other people feel obliged to follow. I think the best stories are often when you go in the opposite direction of the pack.One thing that worries me right now is that we’re seeing more and more movies by government, including in the U.S., to get sources revealed. Prosecutors and judges seem increasingly inclined to put the squeeze on journalists to reveal their sources. That’s a very dangerous development. It’s very important for the public that journalists get access to information and are able to publish it.

The thing that I try to lean against is pack journalism: when somebody writes something, lots of other people feel obliged to follow. I think the best stories are often when you go in the opposite direction of the pack.One thing that worries me right now is that we’re seeing more and more movies by government, including in the U.S., to get sources revealed. Prosecutors and judges seem increasingly inclined to put the squeeze on journalists to reveal their sources. That’s a very dangerous development. It’s very important for the public that journalists get access to information and are able to publish it.

Read more here. Steiger did not discuss the candidates to replace him later this year, but said a decision would be made between March and May.