Tuesday, March 01, 2005
MONEY GETS ALL FEMMY & STUFF
It’s About Time
Katherine Q. Seelye, writing in Monday’s New York Times, in “Softening the Clinking Sounds of Money,” hints, just hints, that the editors and publishers of Money might, just might, be now, just now, starting to realize that women control the pursestrings of the average American household, even if they’re not the primary subscribers to the sorry financial fare offered on the typical newsstand.
Seelye writes:
Money magazine, a warhorse in the Time Inc. stable since 1972, is reinventing itself. With the April issue, the magazine will be transformed from a get-rich investment guide aimed largely at men to a family-friendly helpmate that the editors hope will also appeal to women, younger readers and a broader base of advertisers.
Time Inc., the magazine publishing division of Time Warner, has poured $8.5 million into the reintroduction, with much of that going to an elaborate promotional campaign early next month. As part of that campaign, the April issue will be sent electronically to 1.1 million affluent households that subscribe to other Time Inc. publications with the hope of getting them to subscribe to Money.
Ann S. Moore, chairman and chief executive officer of Time Inc., said that Money had become too narrowly focused. “Money needed to be freshened and redirected,” she said. “It got a little too financial.”
And it had been developing a downscale reputation. In 2002, John Huey, the editorial director of Time Inc., said that before he changed the editors at Money in 1998, the magazine was “down market” and “trailer park.”
No! Really? Downscale? Junk? Worthless? No kidding! Anyone who read Money magazine in the 1990s, or who worked for a competing financial title, or an affiliate of a competing financial title, or who saw the book’s demographics -- and I include myself in all four categories -- knew that, that very thing.
What the hell took you guys -- And I mean that, guys, and I’m talking about the New York Times here as well, Ms. Seelye’s contribution to the debate notwithstanding -- so damned long?
Mr. Huey purportedly saw, or claims now to have seen, serious problems at Money in 1998, seven years ago.
I ask, What sort of compensation did Mr. Huey and the guys “earn” from shareholders in the meantime?
[Post-publication addendum: On women and pursestrings, see also “The Dumbest Column . . . Ever!,” by Jim McLaughlin, at A Skeptical Blog. One guess which New York Times pundit wrote “the dumbest column ever.” No, not Mr. Friedman. No, not Mr. Safire; he’s gone. Look, you only get one chance here. There you go.]
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James Martin (Jim) Capozzola launched The Rittenhouse Review in April 2002, TRR: The Lighter Side of Rittenhouse, HorowitzWatch, and Smarter Andrew Sullivan in July 2002, and Bulldogs for Kerry-Edwards in October 2004. He is also a contributing member of President Boxer.
He received the 2002 Koufax Award for Best Post> for "Al Gore and the Alpha Girls" (published November 25, 2002). Capozzola's record in the Koufax Awards includes two additional nominations for 2002 (Best Blog and Best Writing), three nominations for 2003 (Best Blog, Best Series, and Best Writing), and two finalist nominations in 2004 (Best Blog and Best Writing).
Capozzola’s experience beyond the blogosphere includes a lengthy career in financial journalism, securities analysis, and investment research, and in freelance writing, editing, ghost-writing, and writing instruction.
He earned his bachelor's degree in political science from the University at Albany and a master's in foreign affairs from the University of Virginia.
Capozzola lives in Philadelphia with his bulldog, Mildred.
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