The Wall Street Journal is a U.S. business-focused,
English-language international daily newspaper
based in New York City.
The Journal, along with its Asian and European
editions, is published six days a week by
Dow Jones & Company, a division of News Corp.
The newspaper is published in the broadsheet
format and online.
The Journal has been printed continuously
since its inception on July 8, 1889, by Charles
Dow, Edward Jones, and Charles Bergstresser.
The Wall Street Journal is the largest newspaper
in the United States by circulation.
According to News Corp, in its June 2017 10-K
filing with the Securities and Exchange Commission,
the Journal had a circulation of about 2.277
million copies (including nearly 1,270,000
digital subscriptions) as of June 2017, compared
with USA Today's 1.7 million.
The newspaper, which has won 37 Pulitzer Prizes
through 2017, derives its name from Wall Street
in the heart of the Financial District of
Lower Manhattan.
The Journal also publishes the luxury news
and lifestyle magazine WSJ, which was originally
launched as a quarterly but expanded to 12
issues as of 2014.
An online version was launched in 1996, which
has been accessible only to subscribers since
it began.
== History ==
=== Beginnings ===
The first products of Dow Jones & Company,
the publisher of the Journal, were brief news
bulletins, nick-named "flimsies", hand-delivered
throughout the day to traders at the stock
exchange in the early 1880s.
They were later aggregated in a printed daily
summary called the Customers' Afternoon Letter.
Reporters Charles Dow, Edward Jones, and Charles
Bergstresser converted this into The Wall
Street Journal, which was published for the
first time on July 8, 1889, and began delivery
of the Dow Jones News Service via telegraph.
In 1896, The "Dow Jones Industrial Average"
was officially launched.
It was the first of several indices of stock
and bond prices on the New York Stock Exchange.
In 1899, the Journal's Review & Outlook column,
which still runs today, appeared for the first
time, initially written by Charles Dow.
Journalist Clarence Barron purchased control
of the company for US$130,000 in 1902; circulation
was then around 7,000 but climbed to 50,000
by the end of the 1920s.
Barron and his predecessors were credited
with creating an atmosphere of fearless, independent
financial reporting—a novelty in the early
days of business journalism.
In 1921, Barron's, the United States's premier
financial weekly, was founded.
Barron died in 1928, a year before Black Tuesday,
the stock market crash that greatly affected
the Great Depression in the United States.
Barron's descendants, the Bancroft family,
would continue to control the company until
2007.The Journal took its modern shape and
prominence in the 1940s, a time of industrial
expansion for the United States and its financial
institutions in New York.
Bernard Kilgore was named managing editor
of the paper in 1941, and company CEO in 1945,
eventually compiling a 25-year career as the
head of the Journal.
Kilgore was the architect of the paper's iconic
front-page design, with its "What's News"
digest, and its national distribution strategy,
which brought the paper's circulation from
33,000 in 1941 to 1.1 million at the time
of Kilgore's death in 1967.
Under Kilgore, in 1947, the paper won its
first Pulitzer Prize for William Henry Grimes's
editorials.In 1967, Dow Jones Newswires began
a major expansion outside of the United States
that ultimately put journalists in every major
financial center in Europe, Asia, Latin America,
Australia, and Africa.
In 1970, Dow Jones bought the Ottaway newspaper
chain, which at the time comprised nine dailies
and three Sunday newspapers.
Later, the name was changed to "Dow Jones
Local Media Group".1971 to 1997 brought about
a series of launches, acquisitions, and joint
ventures, including "Factiva", The Wall Street
Journal Asia, The Wall Street Journal Europe,
the WSJ.com website, Dow Jones Indexes, MarketWatch,
and "WSJ Weekend Edition".
In 2007, News Corp. acquired Dow Jones.
WSJ., a luxury lifestyle magazine, was launched
in 2008.
=== Internet expansion ===
A complement to the print newspaper, The Wall
Street Journal Online, was launched in 1996
and has allowed access only by subscription
from the beginning.
In 2003, Dow Jones began to integrate reporting
of the Journal's print and online subscribers
together in Audit Bureau of Circulations statements.
In 2007, it was commonly believed to be the
largest paid-subscription news site on the
Web, with 980,000 paid subscribers.
Since then, online subscribership has fallen,
due in part to rising subscription costs,
and was reported at 400,000 in March 2010.
In May 2008, an annual subscription to the
online edition of The Wall Street Journal
cost $119 for those who do not have subscriptions
to the print edition.
By June 2013, the monthly cost for a subscription
to the online edition was $22.99, or $275.88
annually, excluding introductory offers.
On November 30, 2004, Oasys Mobile and The
Wall Street Journal released an app that would
allow users to access content from the Wall
Street Journal Online via their mobile phones.Many
of The Wall Street Journal news stories are
available through free online newspapers that
subscribe to the Dow Jones syndicate.
Pulitzer Prize–winning stories from 1995
are available free on the Pulitzer web site.
In September 2005, the Journal launched a
weekend edition, delivered to all subscribers,
which marked a return to Saturday publication
after a lapse of some 50 years.
The move was designed in part to attract more
consumer advertising.In 2005, the Journal
reported a readership profile of about 60
percent top management, an average income
of $191,000, an average household net worth
of $2.1 million, and an average age of 55.In
2007, the Journal launched a worldwide expansion
of its website to include major foreign-language
editions.
The paper had also shown an interest in buying
the rival Financial Times.
=== Design changes ===
The nameplate is unique in having a period
at the end.On September 5, 2006, the Journal
included advertising on its front page for
the first time.
This followed the introduction of front-page
advertising on the European and Asian editions
in late 2005.After presenting nearly identical
front-page layouts for half a century—always
six columns, with the day's top stories in
the first and sixth columns, "What's News"
digest in the second and third, the "A-hed"
feature story in the fourth (with 'hed' being
jargon for headline) and themed weekly reports
in the fifth column – the paper in 2007
decreased its broadsheet width from 15 to
12 inches while keeping the length at 22​3⁄4
inches, to save newsprint costs.
News design consultant Mario Garcia collaborated
on the changes.
Dow Jones said it would save US$18 million
a year in newsprint costs across all The Wall
Street Journal papers.
This move eliminated one column of print,
pushing the "A-hed" out of its traditional
location (though the paper now usually includes
a quirky feature story on the right side of
the front page, sandwiched among the lead
stories).
The paper still uses ink dot drawings called
hedcuts, introduced in 1979 and originally
created by Kevin Sprouls, in addition to photographs,
a method of illustration considered a consistent
visual signature of the paper.
The Journal still heavily employs the use
of caricatures, notably those of Ken Fallin,
such as when Peggy Noonan memorialized then-recently
deceased newsman Tim Russert.
The use of color photographs and graphics
has become increasingly common in recent years
with the addition of more "lifestyle" sections.
The daily was awarded by the Society for News
Design World's Best Designed Newspaper award
for 1994 and 1997.
=== News Corporation and News Corp ===
On May 2, 2007, News Corporation made an unsolicited
takeover bid for Dow Jones, offering US$60
a share for stock that had been selling for
US$33 a share.
The Bancroft family, which controlled more
than 60% of the voting stock, at first rejected
the offer, but later reconsidered its position.Three
months later, on August 1, 2007, News Corporation
and Dow Jones entered into a definitive merger
agreement.
The US$5 billion sale added The Wall Street
Journal to Rupert Murdoch's news empire, which
already included Fox News Channel, financial
network unit and London's The Times, and locally
within New York, the New York Post, along
with Fox flagship station WNYW (Channel 5)
and MyNetworkTV flagship WWOR (Channel 9).On
December 13, 2007, shareholders representing
more than 60 percent of Dow Jones's voting
stock approved the company's acquisition by
News Corporation.In an editorial page column,
publisher L. Gordon Crovitz said the Bancrofts
and News Corporation had agreed that the Journal's
news and opinion sections would preserve their
editorial independence from their new corporate
parent:A special committee was established
to oversee the paper's editorial integrity.
When the managing editor Marcus Brauchli resigned
on April 22, 2008, the committee said that
News Corporation had violated its agreement
by not notifying the committee earlier.
However, Brauchli said he believed that new
owners should appoint their own editor.A 2007
Journal article quoted charges that Murdoch
had made and broken similar promises in the
past.
One large shareholder commented that Murdoch
has long "expressed his personal, political
and business biases through his newspapers
and television stations".
Former Times assistant editor Fred Emery remembers
an incident when "Mr. Murdoch called him into
his office in March 1982 and said he was considering
firing Times editor Harold Evans.
Mr. Emery says he reminded Mr. Murdoch of
his promise that editors couldn't be fired
without the independent directors' approval.
'God, you don't take all that seriously, do
you?'
Mr. Murdoch answered, according to Mr. Emery."
Murdoch eventually forced out Evans.In 2011,
The Guardian found evidence that the Journal
had artificially inflated its European sales
numbers, by paying Executive Learning Partnership
for purchasing 16% of European sales.
These inflated sales numbers then enabled
the Journal to charge similarly inflated advertising
rates, as the advertisers would think that
they reached more readers than they actually
did.
In addition, the Journal agreed to run "articles"
featuring Executive Learning Partnership,
presented as news, but effectively advertising.
The case came to light after a Belgian Wall
Street Journal employee, Gert Van Mol, informed
Dow Jones CEO Les Hinton about the questionable
practice.
As a result, the then Wall Street Journal
Europe CEO and Publisher Andrew Langhoff was
fired after it was found out he personally
pressured journalists into covering one of
the newspaper's business partners involved
in the issue.
Since September 2011 all the online articles
that resulted from the ethical wrongdoing
carry a Wall Street Journal disclaimer informing
the readers about the circumstances in which
they were created.
The Journal, along with its parent Dow Jones
& Company, was among the businesses News Corporation
spun off in 2013 as the new News Corp.
In November 2016, in an effort to cut costs,
the Journal's editor-in-chief, Gerard Baker,
announced that layoffs and consolidation to
its sections would take place.
In the memo, the new format for the newspaper
will have a "Business & Finance" section that
will combine its current "Business & Tech"
and "Money & Investing" sections.
It will also include a new "Life & Arts" section
that will combine its current "Personal Journal"
and "Arena" sections.
In addition, the current "Greater New York"
coverage will be reduced and will move into
the main section of paper.
== Features ==
Since 1980, the Journal has been published
in multiple sections.
At one time, The Journal's page count averaged
as much as 96 pages an issue, but with the
industry-wide decline in advertising, the
Journal in 2009–10 more typically published
about 50 to 60 pages per issue.
Regularly scheduled sections are:
Section One – every day; corporate news,
as well as political and economic reporting
and the opinion pages
Marketplace – Monday through Friday; coverage
of health, technology, media, and marketing
industries (the second section was launched
June 23, 1980)
Money and Investing – every day; covers
and analyzes international financial markets
(the third section was launched October 3,
1988)
Personal Journal – published Tuesday through
Thursday; covers personal investments, careers
and cultural pursuits (the section was introduced
April 9, 2002)
Off Duty – published Saturdays in WSJ Weekend;
focuses on fashion, food, design, travel and
gear/tech.
The section was launched September 25, 2010.
Review – published Saturdays in WSJ Weekend;
focuses on essays, commentary, reviews and
ideas.
The section was launched September 25, 2010.
Mansion – published Fridays; focuses on
high-end real estate.
The section was launched October 5, 2012.
WSJ Magazine – Launched in 2008 as a quarterly,
this luxury magazine supplement distributed
within the U.S., European and Asian editions
of The Wall Street Journal grew to 12 issues
per year in 2014.In addition, several columnists
contribute regular features to the Journal
opinion page and OpinionJournal.com:
Weekdays – Best of the Web Today by James
Freeman
Monday – Americas by Mary O'Grady
Wednesday – Business World by Holman W.
Jenkins Jr
Thursday – Wonder Land by Daniel Henninger
Friday – Potomac Watch by Kimberley Strassel
Weekend Edition – Rule of Law, The Weekend
Interview (variety of authors), Declarations
by Peggy NoonanIn addition to these regular
opinion pieces, on Fridays the Journal publishes
a religion-themed op-ed, titled "Houses of
Worship",
written by a different author each week.
Authors range from the Dalai Lama to cardinals.
== WSJ.
==
WSJ. is The Wall Street Journal's luxury lifestyle
magazine.
Its coverage spans art, fashion, entertainment,
design, food, architecture, travel and more.
Kristina O'Neill is Editor in Chief and Anthony
Cenname is Publisher.
Launched as a quarterly in 2008, the magazine
grew to 12 issues a year for 2014.
The magazine is distributed within the U.S.
Weekend Edition of The Wall Street Journal
newspaper (average paid print circulation
is +2.2 million*), the European and Asian
editions, and is available on WSJ.com.
Each issue is also available throughout the
month in The Wall Street Journal's iPad app.
Penélope Cruz, Carmelo Anthony, Woody Allen,
Scarlett Johansson, Emilia Clarke, Daft Punk,
and Gisele Bündchen have all been featured
on the cover.
In 2012, the magazine launched its signature
platform, The Innovator Awards.
An extension of the November Innovators issue,
the awards ceremony, held in New York City
at Museum of Modern Art, honors visionaries
across the fields of design, fashion, architecture,
humanitarianism, art and technology.
The 2013 winners were: Alice Waters (Humanitarianism);
Daft Punk (Entertainment); David Adjaye (Architecture);
Do Ho Su (Art); Nick D'Aloisio (Technology);
Pat McGrath (Fashion); Thomas Woltz (Design).
In 2013, Adweek awarded WSJ.
"Hottest Lifestyle Magazine of the Year" for
its annual Hot List.
U.S. Circulation: Each issue of WSJ. is inserted
into the weekend edition of The Wall Street
Journal, whose average paid circulation for
the three months ending September 30, 2013
was 2,261,772 as reported to the Alliance
for Audited Media (AAM).
== Operations ==
As of 2012, The Wall Street Journal had a
global news staff of around 2,000 journalists
in
85 news bureaus across 51 countries.
As of 2012, it had 26 printing plants.
== Recent milestones ==
WSJ Live became available on mobile devices
in September 2011.
WSJ Weekend, the weekend newspaper, expanded
September 2010, with two new sections: "Off
Duty" and "Review".
"Greater New York", a stand-alone, full color
section dedicated to the New York metro area,
launched April 2010.
The Wall Street Journal's San Francisco Bay
Area Edition, which focuses on local news
and events, launched on November 5, 2009,
appearing locally each Thursday in the print
Journal and every day on online at WSJ.com/SF.
WSJ Weekend, formerly called Saturday's Weekend
Edition: September 2005.
Launch of Today's Journal, which included
both the addition of Personal Journal and
color capacity to the Journal: April 2002.
Launch of The Wall Street Journal Sunday:
Sept. 12, 1999.
A four-page print supplement of original investing
news, market reports and personal-finance
advice that ran in the business sections of
other U.S. newspaprs.
WSJ Sunday circulation peaked in 2005 with
84 newspapers reaching nearly 11 million homes.
The publication ceased on Feb. 7, 2015.
Friday Journal, formerly called First Weekend
Journal: March 20, 1998.
WSJ.com launched in April 1996.
First three-section Journal: October 1988.
First two-section Journal: June 1980.
== Editorial page and political stance ==
The Journal won its first two Pulitzer Prizes
for editorial writing in 1947 and 1953.
Subsequent Pulitzer Prizes have been awarded
for editorial writing to Robert L. Bartley
in 1980 and Joseph Rago in 2011; for criticism
to Manuela Hoelterhoff in 1983 and Joe Morgenstern
in 2005; and for commentary to Vermont Royster
in 1984, Paul Gigot in 2000, Dorothy Rabinowitz
in 2001, Bret Stephens in 2013, and Peggy
Noonan in 2017.
Two summaries published in 1995 by the progressive
blog Fairness and Accuracy in Reporting, and
in 1996 by the Columbia Journalism Review
criticized the Journal's editorial page for
inaccuracy during the 1980s and 1990s.
The Journal describes the history of its editorials:
They are united by the mantra "free markets
and free people", the principles, if you will,
marked in the watershed year of 1776 by Thomas
Jefferson's Declaration of Independence and
Adam Smith's Wealth of Nations.
So over the past century and into the next,
the Journal stands for free trade and sound
money; against confiscatory taxation and the
ukases of kings and other collectivists; and
for individual autonomy against dictators,
bullies and even the tempers of momentary
majorities.
If these principles sound unexceptionable
in theory, applying them to current issues
is often unfashionable and controversial.
Its historical position was much the same.
As former editor William H. Grimes wrote in
1951:
On our editorial page we make no pretense
of walking down the middle of the road.
Our comments and interpretations are made
from a definite point of view.
We believe in the individual, in his wisdom
and his decency.
We oppose all infringements on individual
rights, whether they stem from attempts at
private monopoly, labor union monopoly or
from an overgrowing government.
People will say we are conservative or even
reactionary.
We are not much interested in labels but if
we were to choose one, we would say we are
radical.
Just as radical as the Christian doctrine.
Each Thanksgiving the editorial page prints
two famous articles that have appeared there
since 1961.
The first is titled The Desolate Wilderness,
and describes what the Pilgrims saw when they
arrived at the Plymouth Colony.
The second is titled And the Fair Land, and
describes the bounty of America.
It was written by a former editor, Vermont
C. Royster, whose Christmas article In Hoc
Anno Domini has appeared every December 25
since 1949.
=== Economic views ===
On September 12, 2018, the Census Bureau released
data showing improvement in household income
and the poverty rate during 2017, Trump's
first year in office.
The Journal published an editorial that day
attributing the improvement to Trump's purportedly
superior economic policies, compared to Obama's.
However, The Journal's news division reported
that both figures also showed improvement
in 2015 and 2016, and they improved to a greater
degree in both those years than they did in
2017.During the Reagan administration, the
newspaper's editorial page was particularly
influential as the leading voice for supply-side
economics.
Under the editorship of Robert Bartley, it
expounded at length on economic concepts such
as the Laffer curve, and how a decrease in
certain marginal tax rates and the capital
gains tax could allegedly increase overall
tax revenue by generating more economic activity.
In the economic argument of exchange rate
regimes (one of the most divisive issues among
economists), the Journal has a tendency to
support fixed exchange rates over floating
exchange rates.
For example, the Journal was a major supporter
of the Chinese yuan's peg to the dollar, and
strongly disagreed with American politicians
who criticized the Chinese government about
the peg.
It opposed China's move to let the yuan gradually
float, arguing that the fixed rate benefited
both the United States and China.
The Journal's views compare with those of
the British publication The Economist, with
its emphasis on free markets.
However, the Journal demonstrates important
distinctions from European business newspapers,
most particularly in regard to the relative
significance of, and causes of, the American
budget deficit.
(The Journal generally points to the lack
of foreign growth, while business journals
in Europe and Asia blame the low savings rate
and concordant high borrowing rate in the
United States).
=== Political stance ===
The Journal's editorial pages and columns,
run separately from the news pages, are highly
influential in American conservative circles.
As editors of the editorial page, Vermont
C. Royster (served 1958–1971) and Robert
L. Bartley (served 1972–2000) were especially
influential in providing a conservative interpretation
of the news on a daily basis.
Some of the Journal's former reporters claim
that the paper has adopted a more conservative
tone since Rupert Murdoch's purchase.The editorial
board has long argued for a pro-business immigration
policy.
In a July 3, 1984, editorial, the board wrote:
"If Washington still wants to 'do something'
about immigration, we propose a five-word
constitutional amendment: There shall be open
borders."
This stand on immigration reform places the
Journal in contrast to most conservative activists,
politicians, and media publications for example
National Review and The Washington Times,
who favor heightened restrictions on immigration.The
Journal's editorial page has been seen as
critical of many aspects of Barack Obama's
presidency.
In particular, it has been a prominent critic
of the Affordable Care Act legislation passed
in 2010, and has featured many opinion columns
attacking various aspects of the bill.
The Journal's editorial page has also criticized
the Obama administration's energy policies
and foreign policy.The editorial board of
The Wall Street Journal tends to reject widely
held views on climate change—namely that
it poses a major threat to human existence,
is largely caused by fossil fuel emissions,
and can be prevented through public policy.
The Journal is regarded as a forum for climate
change skeptics, publishing articles by scientists
skeptical of the consensus position on climate
change in its op-ed section, including several
essays by Richard Lindzen of MIT.
Similarly, the Journal has been accused of
refusing to publish opinions of scientists
which present the mainstream view on climate
change.
According to a 2016 analysis, 14% of the guest
editorials presented the results of "mainstream
climate science", while the majority did not.
Also, none of 201 editorials published in
the WSJ since 1997 concede that the burning
of fossil fuels was causing climate change.
A 2015 study found The Wall Street Journal
was the newspaper that was least likely to
present negative effects of global warming
among several newspapers.
It was also the most likely to present negative
economic framing when discussing climate change
mitigation policies, tending to taking the
stance that the cost of such policies generally
outweighs their benefit.
On October 25, 2017, the editorial board called
for Special Counsel Robert Mueller to resign
from the investigation into Russian interference
in the 2016 United States elections and accused
Hillary Clinton's 2016 presidential campaign
of colluding with Russia.
In December 2017, the editorial board repeated
its calls for Mueller's resignation.
The editorials by the editorial board caused
fractures within the Wall Street Journal,
as reporters say that the editorials undermine
the paper's credibility.
=== Bias in news pages ===
The Journal's editors stress the independence
and impartiality of their reporters.In a 2004
study, Tim Groseclose and Jeff Milyo argue
the Journal's news pages have a pro-liberal
bias because they more often quote liberal
think tanks.
They calculated the ideological attitude of
news reports in 20 media outlets by counting
the frequency they cited particular think
tanks and comparing that to the frequency
that legislators cited the same think tanks.
They found that the news reporting of The
Journal was the most liberal (more liberal
than NPR or The New York Times).
The study did not factor in editorials.
Mark Liberman criticized the model used to
calculate bias in the study and argued that
the model unequally affected liberals and
conservatives and that "..the model starts
with a very peculiar assumption about the
relationship between political opinion and
the choice of authorities to cite."
[The authors assume that] "think tank ideology
[...] only matters to liberals."The company's
planned and eventual acquisition by News Corp
in 2007 led to significant media criticism
and discussion about whether the news pages
would exhibit a rightward slant under Rupert
Murdoch.
An August 1 editorial responded to the questions
by asserting that Murdoch intended to "maintain
the values and integrity of the Journal."
== Notable stories and Pulitzer Prizes ==
The Journal has won more than 30 Pulitzer
Prizes in its history.
Staff journalists who led some of the newspaper's
best-known coverage teams have later published
books that summarized and extended their reporting.
=== 1987: RJR Nabisco buyout ===
In 1987, a bidding war ensued between several
financial firms for tobacco and food giant
RJR Nabisco.
Bryan Burrough and John Helyar documented
the events in more than two dozen Journal
articles.
Burrough and Helyar later used these articles
as the basis of a bestselling book, Barbarians
at the Gate: The Fall of RJR Nabisco, which
was turned into a film for HBO.
=== 1988: Insider trading ===
In the 1980s, then Journal reporter James
B. Stewart brought national attention to the
illegal practice of insider trading.
He was awarded the Pulitzer Prize in explanatory
journalism in 1988, which he shared with Daniel
Hertzberg, who went on to serve as the paper's
senior deputy managing editor before resigning
in 2009.
Stewart expanded on this theme in his book,
Den of Thieves.
=== 1997: AIDS treatment ===
David Sanford, a Page One features editor
who was infected with HIV in 1982 in a bathhouse,
wrote a front-page personal account of how,
with the assistance of improved treatments
for HIV, he went from planning his death to
planning his retirement.
He and six other reporters wrote about the
new treatments, political and economic issues,
and won the 1997 Pulitzer Prize for National
Reporting about AIDS.
=== 2000: Enron ===
Jonathan Weil, a reporter at the Dallas bureau
of The Wall Street Journal, is credited with
first breaking the story of financial abuses
at Enron in September 2000.
Rebecca Smith and John R. Emshwiller reported
on the story regularly, and wrote a book,
24 Days.
=== 2001: 9/11 ===
The Journal claims to have sent the first
news report, on the Dow Jones wire, of a plane
crashing into the World Trade Center on September
11, 2001.
Its headquarters, at One World Financial Center,
was severely damaged by the collapse of the
World Trade Center just across the street.
Top editors worried that they might miss publishing
the first issue for the first time in the
paper's 112-year history.
They relocated to a makeshift office at an
editor's home, while sending most of the staff
to Dow Jones's South Brunswick, N.J., corporate
campus, where the paper had established emergency
editorial facilities soon after the 1993 World
Trade Center bombing.
The paper was on the stands the next day,
albeit in scaled-down form.
Perhaps the most compelling story in that
day's edition was a first-hand account of
the Twin Towers' collapse written by then-Foreign
Editor (and current Washington bureau chief)
John Bussey, who holed up in a ninth-floor
Journal office, literally in the shadow of
the towers, from where he phoned in live reports
to CNBC as the towers burned.
He narrowly escaped serious injury when the
first tower collapsed, shattering all the
windows in the Journal's offices and filling
them with dust and debris.
The Journal won a 2002 Pulitzer Prize in Breaking
News Reporting for that day's stories.The
Journal subsequently conducted a worldwide
investigation of the causes and significance
of 9/11, using contacts it had developed while
covering business in the Arab world.
In Kabul, Afghanistan, a reporter from The
Wall Street Journal bought a pair of looted
computers that Al Qaeda leaders had used to
plan assassinations, chemical and biological
attacks, and mundane daily activities.
The encrypted files were decrypted and translated.
It was during this coverage that terrorists
kidnapped and killed Journal reporter Daniel
Pearl.
=== 2007: Stock option scandal ===
In 2007, the paper won the Pulitzer Prize
for Public Service, with its iconic Gold Medal,
for exposing companies that illegally backdate
stock options they awarded executives to increase
their value.
=== 2008: Bear Stearns fall ===
Kate Kelly wrote a three-part series that
detailed events that led to the collapse of
Bear Stearns.
=== 2010: McDonald's health care ===
A report published on September 30, 2010,
detailing allegations McDonald's had plans
to drop health coverage for hourly employees
drew criticism from McDonald's as well as
the Obama administration.
The Wall Street Journal reported the plan
to drop coverage stemmed from new health care
requirements under the Patient Protection
and Affordable Care Act.
McDonald's called the report "speculative
and misleading", stating they had no plans
to drop coverage.
The Wall Street Journal report and subsequent
rebuttal received coverage from several other
media outlets.
=== 2015: Malaysia Prime Minister Najib Razak
and 1MDB ===
In 2015, a report published by the Journal
alleged that up to US$700 million was wired
from 1MDB, a Malaysian state investment company,
to the personal accounts of Malaysia Prime
Minister Najib Razak at AmBank, the fifth
largest lender in Malaysia.
Razak responded by threatening to sue the
New York-based newspaper.
The report prompted some governmental agencies
in Malaysia to conduct an investigation into
the allegation.
=== 2015–present: Theranos investigation
===
In 2015, a report written by the Journal's
John Carreyrou alleged that blood testing
company Theranos' technology was faulty and
founder Elizabeth Holmes was misleading investors.
According to Vanity Fair, "a damning report
published in The Wall Street Journal had alleged
that the company was, in effect, a sham—that
its vaunted core technology was actually faulty
and that Theranos administered almost all
of its blood tests using competitors' equipment."
The Journal has subsequently published several
more reports questioning Theranos' and Holmes'
credibility.
On June 15, 2018, the U.S. Attorney for the
Northern District of California announced
the indictment of Holmes on wire fraud and
conspiracy charges in relation to her role
as CEO of Theranos.
== See also ==
The Economic Times
Far Eastern Economic Review
Index of Economic Freedom – an annual report
published by the Journal together with The
Heritage Foundation
Journal Editorial Report, the weekly Fox News
Channel series featuring WSJ editorial writers
and board members
Lucky duckies
Media in New York City
On the Money (2013 TV series) – the current
title of a CNBC-produced program known as
The Wall Street Journal Report from 1970 until
the CNBC/Dow Jones split in January 2013.
Other Wall Street Journal editions
The Wall Street Journal Asia
The Wall Street Journal Europe
The Wall Street Journal Special Editions
Wall Street Journal Radio Network
Worth Bingham Prize
== References ==
== Further reading ==
Dealy, Francis X.
The power and the money: Inside the Wall Street
Journal (Birch Lane Press, 1993).
Douai, Aziz, and Terry Wu.
"News as business: the global financial crisis
and Occupy movement in the Wall Street Journal."
Journal of International Communication 20.2
(2014): 148-167.
Merrill, John C. and Harold A. Fisher.
The world's great dailies: profiles of fifty
newspapers (1980) pp 338–41
Rosenberg, Jerry M. Inside the Wall Street
Journal: The History and the Power of Dow
Jones & Company and America's Most Influential
Newspaper (1982) online
Sakurai, Takuya.
"Framing a Trade Policy: An Analysis of The
Wall Street Journal Coverage of Super 301."
Intercultural Communication Studies 24.3 (2015).
online
Steinbock, Dan.
"Building dynamic capabilities: The Wall Street
Journal interactive edition: A successful
online subscription model (1993–2000)."
International Journal on Media Management
2.3-4 (2000): 178-194.
Yarrow, Andrew L. "The big postwar story:
Abundance and the rise of economic journalism."
Journalism History 32.2 (2006): 58+ online
== External links ==
Official website (Mobile)
The Wall Street Journal blogs
How Dow Jones Remade Business Journalism,
by Cynthia Crossen, Wall Street Journal, July
31, 2007
