Gerald Loeb Award

Gerald Loeb Award

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The Gerald Loeb Award, also referred to as the Gerald Loeb Award for Distinguished Business and Financial Journalism, is a recognition of excellence in journalism
Journalism is the practice of investigation and reporting of events, issues and trends to a broad audience in a timely fashion. Though there are many variations of journalism, the ideal is to inform the intended audience. Along with covering organizations and institutions such as government and...

, especially in the fields of business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...

, finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...

 and the economy
An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area...

. The award was established in 1957 by Gerald Loeb, a founding partner of E.F. Hutton & Co.  Loeb's intention in creating the award was to encourage reporters to inform and protect private investors as well as the general public in the areas of business, finance and the economy.

Gerald Loeb

Loeb first became known for his book The Battle for Investment Survival, which was popular during the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...

 and is still considered a classic. Born in 1899, Loeb began his investing career in 1921 in the bond department of a brokerage firm in San Francisco, California
San Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...

. He moved to New York in 1921 after joining with E. F. Hutton & Co., and became vice-chairman of the board when the company incorporated in 1962. The Wall Street Crash of 1929
Wall Street Crash of 1929
The Wall Street Crash of 1929 , also known as the Great Crash, and the Stock Market Crash of 1929, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and duration of its fallout...

 greatly affected Loeb's investing style, and in his 1971 book The Battle for Stock Market Profits, he viewed the market as a battlefield. Loeb offered a contrarian investing
Contrarian investing
In finance, a contrarian is one who attempts to profit by investing in a manner that differs from the conventional wisdom, when the consensus opinion appears to be wrong....

 viewpoint, in books and columns in Barron's, The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....

, and Investor Magazine. Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...

magazine called Loeb "the most quoted man on Wall Street." He created the Gerald Loeb Award in order to foster further quality reporting for individual investors.

The Award

The award has been administered by the UCLA Anderson School of Management since 1973, and is sponsored by the G. and R. Loeb Foundation. It is regarded as: "business journalism's highest honor," and its "most prestigious." Beginning with just two winners in 1958 (Werner Renberg and David Steinberg) and expanding to three in the final years before the Anderson School began to administer the award, today there are ten categories in which prizes are awarded: large newspaper, medium newspaper, small newspaper, magazine, commentary, deadline or beat writing, wire services, and television. Those honored receive a cash prize of USD$2,000, and are presented with the award at a ceremony in July of the year following their piece's publication. The preliminary judging committee includes business, financial and economic journalists, as well as faculty members from the UCLA Anderson School of Management. Once the finalists are selected, a final panel of judges consisting of representatives from major print and broadcast outlets selects a winner from each category. The final panel of judges is chaired by the dean of the UCLA Anderson School of Management. Entries are judged according to their originality, news value, writing quality, thoroughness and balance, and production value.

2011 Finalists & Winners

Winners in bold.
Category Finalists Finalists Finalists Finalists Finalists Finalists
Large Newspapers Bryan Bender for "From the Pentagon to the Private Sector" in The Boston Globe Ben Casselman, Russell Gold, Douglas A. Blackmon, Vanessa O'Connell, Alexandra Berzon and Ana Campoy for "Deep Trouble" in The Wall Street Journal Julia Angwin, Nick Wingfield, Scott Thurm and Yukari Iwatani Kane for "What They Know" in The Wall Street Journal Robert O'Harrow Jr. for "Alaska Native Corporations" in The Washington Post
Medium & Small Newspapers John Fauber for "Side Effects" in Milwaukee Journal Sentinel Chris Serres and Glenn Howatt for "Hounded -- Debtors and the New Breed of Collectors" in Minneapolis Star Tribune Ralph Cipriano for "The Billion Dollar Boondoggle" in Philadelphia City Paper Aaron Kessler and Joaquin Sapien for "Contaminated Drywall Cover-Up" in Sarasota Herald-Tribune with ProPublica Michael J. Berens for "Seniors for Sale" in The Seattle Times David Nicklaus and Tim Logan for "Edifice Complex" in St. Louis Post-Dispatch
Magazines Frederik Balfour and Tim Culpan for "Inside Foxconn" in Bloomberg Businessweek Amanda Bennett and Charles R. Babcock for "End-of-Life Warning at $618,616 Makes Me Wonder Was It Worth It" in Bloomberg Businessweek Don Van Natta Jr., Jo Becker and Graham Bowley for "Hack Attack" in The New York Times Matt Taibbi for "Invasion of the Home Snatchers" in Rolling Stone Michael Lewis for "Beware of Greeks Bearing Bonds" in Vanity Fair
Commentary Andy Grove for "How to Make an American Job" in Bloomberg Businessweek Kevin Drum for "Capital City" in Mother Jones Paul Krugman for "Paul Krugman Columns" in The New York Times Froma Harrop for "Froma Harrop Columns" in The Providence Journal
Breaking News Justin Hyde and Greg Gardner for "Toyota Sales Freeze" in Detroit Free Press Andrew Jacobs, Miguel Helft, John Markoff, Keith Bradsher, David Barboza, David E. Sanger and Brad Stone for "Google in China" in The New York Times Louise Story, Gretchen Morgenson and Joe Nocera for "S.E.C vs. Goldman" in The New York Times Tom Lauricella, Peter A. McKay, Scott Patterson, Jenny Strasburg, Robin Sidel, Carolyn Cui and Mary Pilon for "Flash Crash" in The Wall Street Journal Susan Pulliam, Michael Rothfeld, Jenny Strasburg, Gregory Zuckerman, Steve Eder and Chad Bray for "On the Inside" in The Wall Street Journal
Beat Reporting Daniel Golden, John Hechinger and John Lauerman for "Education Inc." in Bloomberg News Keith Bradsher for "Green China" in The New York Times Paige St. John for "Florida's Insurance Nightmare" in Sarasota Herald-Tribune Russell Gold and Ben Casselman for "Deep Trouble" in The Wall Street Journal
News Services Justin Pritchard for "Toxic Cadmium" in Associated Press Amanda Bennett and Charles R. Babcock for "End-of-Life Warning at $618,616 Makes Me Wonder Was It Worth It" in Bloomberg News Cam Simpson and Alan Katz for "Gold's Affliction" in Bloomberg News David Evans for "Profiting From Fallen Soldiers" in Bloomberg News
Explanatory Mitch Weitzner, David Faber, James Segelstein, Bob Waldman, Clem Tayler and Jonathan Dann for "Goldman Sachs: Power And Peril" on CNBC Kevin Drum for "Capital City" in Mother Jones David Nicklaus and Tim Logan for "Edifice Complex" in St. Louis Post-Dispatch Julia Angwin, Nick Wingfield, Scott Thurm and Yukari Iwatani Kane for "What They Know" in The Wall Street Journal Alan Prendergast for "You're in Bad Hands" in Westword
Online Enterprise Jim Lynch, Elizabeth Conley and Pat Murphy for "Abandoned Michigan Industrial Toxic Sites" for The Detroit News David Leonhardt, Bill Marsh, Kevin Quealy, Shan Carter, Matthew Ericson and Amanda Cox for "You Fix the Budget" for The New York Times Aaron Kessler, Joaquin Sapien and Jeff Larson for "Contaminated Drywall Cover-Up" for Sarasota Herald-Tribune with ProPublica Julia Angwin, Emily Steel, Scott Thurm, Christina Tsuei, Paul Antonson, Jill Kirschenbaum, Jovi Juan, Andrew Garcia Phillips, Sarah Slobin, Susan McGregor, Tom McGinty and Jennifer Valentino-DeVries for "What They Know" for The Wall Street Journal
Blogging Kara Swisher for "Liveblogging Yahoo Earnings Calls in 2010 (They're Funny!)" for All Things Digital Loren Steffy for "Reinvention of the Airlines" for Houston Chronicle Catherine Rampell for "Economix Blog" for The New York Times
Personal Finance Chris Serres and Glenn Howatt for "Hounded -- Debtors and the New Breed of Collectors" in Minneapolis Star Tribune David Segal for "A Bully Finds a Pulpit on the Web" in The New York Times Ron Lieber for "Student Debt" in The New York Times Jason Zweig for "The Intelligent Investor" in The Wall Street Journal
Television Enterprise Brian Ross, Joseph Rhee, Asa Eslocker, Mark Schone, Rhonda Schwartz and Megan Chuchmach for "Brian Ross Investigates: Better Business Bureau - Pay to Play Scandal" on ABC News Brian Ross , Matthew Mosk, Vic Walter, Mark Schone, Rhonda Schwartz and Megan Chuchmach for "Brian Ross Investigates: Make-A-Wish Swindle" on ABC News Mitch Weitzner, Scott Cohn, Jeff Pohlman, Emily Bodenberg, Steven Banton and Gary Vandenbergh for "Remington Under Fire: A CNBC Investigation" on CNBC Darren Gersh and Michael LaBella for "Dollars for Docs" on Nightly Business Report (PBS) Mark Smith, Billy Bryant and Byron Harris for "Bitter Lessons" on WFAA-TV
Business Books Sebastian Mallaby for "More Money Than God: Hedge Funds and the Making of a New Elite" published by The Penguin Press Bethany McLean and Joe Nocera for "All the Devils Are Here: The Hidden History of the Financial Crisis" published by Portfolio David Kirkpatrick for "The Facebook Effect: The Inside Story of the Company That Is Connecting the World" published by Simon & Schuster Michael Lewis for "The Big Short: Inside the Doomsday Machine" published by W.W. Norton & Company

See also

  • Business journalism
    Business journalism
    Business journalism is the branch of journalism that tracks, records, analyzes and interprets the economic changes that take place in a society...

  • Conscience-in-Media Award
    Conscience-in-Media Award
    The Conscience-in-Media Award is presented by the American Society of Journalists and Authors to journalists that the society deems worthy of recognition for their distinctive contributions. The award is not given out often, and is awarded to those journalists which the ASJA feels have...

  • George Polk Awards
    George Polk Awards
    The George Polk Awards in Journalism are a series of American journalism awards presented annually by Long Island University in New York in the United States.-History:...

  • Investigative journalism
    Investigative journalism
    Investigative journalism is a form of journalism in which reporters deeply investigate a single topic of interest, often involving crime, political corruption, or corporate wrongdoing. An investigative journalist may spend months or years researching and preparing a report. Investigative journalism...

  • Worth Bingham Prize
    Worth Bingham Prize
    The Worth Bingham Prize, also referred to as the Worth Bingham Prize for Investigative Reporting, is an annual journalism award which honors: "newspaper or magazine investigative reporting of stories of national significance where the public interest is being ill-served."- About the Prize :The...

External links

  • About the Gerald Loeb Awards, UCLA Anderson
    UCLA Anderson
    The UCLA Anderson School of Management is one of eleven professional schools at the University of California, Los Angeles. The school offers MBA and Ph.D. degrees.-History:...

    , School of Management.
  • New Loeb Awards Final Judges Announced by UCLA Anderson School of Management, Business Wire
    Business Wire
    Business Wire is a company that disseminates full-text news releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases and other audiences. The company distributes news via its own patented...

    , May 7, 2007