The value of business trade publications

“Second, journalists must be in ownership positions of media organizations. Strachan was co-owner of the National Thrift News, and his commitment to hard news — traditional journalistic values, tough but fair reporting, meticulous verification of facts — was a foundation of the newspaper’s culture. It stands in great contrast to the metrics-obsessed corporate chains of today.

“Third, the National Thrift News shows how small newsrooms can innovate in the face of advertiser influence. The publication was a reporter’s paper,’ one where journalists could set the news agenda rather than being led by the industry. Instead of hurting business, such hard-hitting journalism can actually further the bottom line.

“The good work done by the National Thrift News in the Keating scandal also offers mainstream publications a means of covering technical areas like business as resources for journalism dwindle. One solution involves partnerships with plugged-in trade journals, such as the recent collaboration between the American Banker and the investigative news website ProPublica. This is a needed step for sharper coverage of business and finance in the struggling media landscape.”

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