dispatches from the new world of work

The "Wall Street" Journal, Right?

I have no idea what Rupert Murdoch will do with the Journal. But I do know hilarity when I hear it. On the road to Boston (on the way to São Paulo) this morning, at about 5 a.m., I listened to some interviews with editors and writers at the Journal following the announcement of the decision to sell to Mr M. One editor, fit to be tied and clearly expecting the immediate end of the world as he's known it, summarized his chagrin and disgust: "It's all about money."

I just about ran off the road as I choked with laughter. It's not that I doubt that Murdoch will make ideological changes, nor do I expect to agree with some of those changes. No, my response, the life-endangering laughter, is tied, no more and no less, to the name of the beleaguered editor's paper per se. This is the WALL STREET journal. And, last I heard, Wall Street is precisely and by design "all about money." (Albeit aiming to produce economic well-being.)

The WSJ is ... and has been ... and doubtless always will be ... by definition ... all about money.

(My thanks to that discombobulated editor—anything that can produce a laugh at 5 a.m. is worth a salute.)

Tom Peters posted this on 08/01/07.

Comments

People running in closed circles are often hilarious when exposed to sunlight. Your story reminded me of the Manhattan socialite when asked after Bush's first election as president what she thought: "I donâ€™t know why he got elected, I donâ€™t know anyone who voted for him".

This entire upheaval in the media about Murdoch purchasing Dow Jones and, with it, the WSJ, is telling about the national media. For some reason, a big-time newspaper is in jeopardy if not controlled by liberal owners.

Fun times ahead.

Posted by Jeff at August 1, 2007 6:40 PM

The three words this editor calls to mind are: pot, kettle and black! Sadly, however, it seems to reflect a trend whereby people in certain positions seem to think that because they comment on or shape or or even legislate a certain area of life, the're above the rules and norms of the real world.

One question: what does "...fit to be tied..." mean? OK, I'm British, so bear with me but it's not an expression I've come across before.

BTW - I love the new strapline accross the top of the web site. Miles better than the old one (which frankly was mediocre and cliched): this one's imaginative, bold and makes you think. Well done to the designer.

Posted by Mark JF at August 2, 2007 2:31 AM

1. Love it - & hopefully the new WSJ totally destroys the inept NYTimes. Plus a new Fox Business Channel to compete in prime time.

2. Tom - we & WSJ must focus on USA de-regulation & taxload reduction - so USA business/people may better compete for international capital, IPO's, worldwide finance, et al.

Posted by Sean at August 2, 2007 8:10 AM