Whispers emanating from the Journal's parent, News Corp., have the paper on track to lose $100 million this year, says one tipster. That's hard to believe, given the $59 million contribution that Journal publisher Dow Jones made to News Corp.'s bottom line as recently as the last quarter of 2008. But Dow Jones profits fell in both of the quarters reported since, according to public earnings reports. News Corp. didn't give precise figures for Dow Jones or the Journal, but did disclose that all News Corp. newspapers saw combined profits fall 97 percent January through April and revenue fall 24 percent in the three months after that.

The Journal could cut some costs by slicing its ridiculous video army down to one guy, plus a cameraman with a cheap recorder, and maybe a video editor. After all, as Current TV's Brett Erlich has show, it's possible to create some seriously fun financial programming with bare-bones production values. Or the Journal can just keep imitating cable news networks, even to the point of absurdly saying "we're running out of time," as the host did toward the end of today's "AM Report." After all, it's not like News Corp. owns a real financial net of its own, or anything.

UPDATE: Dow Jones says it uses "less than 10 staffers" to make the video, and Business Insider has updated its post to reflect that assertion, adding it got its earlier number from "people involved in the show."

Take Thomson's comments at the goodbye party for longtime Journal man Dan Hertzberg, the deputy managing editor pushed into retirement after 32 years. They may have been good for staff cohesion, but we wonder if lead Fox News viper Roger Ailes will take them so cheerfully.

The story as we've confirmed it with three different WSJ staffers, is that Thomson, in praising Hertzberg's newsgathering skills, ended up discussing the newspaper's new "Hub," an area on the sixth floor with loads of flat-screen displays blaring TV news around the clock — the beating heart of the new, multiplatform Journal. Thomson (pictured) was saying Hertzberg is like a human version of that room, or something, with his ability to gather and process news. Whatever.

The line that pricked up reporters' ears was when Thomson joked that the real reason the Hub was built was actually to "double the viewership of Fox Business Network," or words to that effect, making fun of the network's vanishingly small audience. Zing!

Thomson then instituted a "new old tradition" of "banging out" forcibly retired staffers by pounding on the wall as they walk out of the newsroom for the last time. Apparently this is a British thing and, according to one staffer (disclaimer: American), awkward, especially on deadline after many long speeches. Back to the Fox bashing, please; that's the sort of catty backbiting a great many English-speaking journalists can really enjoy!

(PIc: Esther Dyson)

Yaroslav Yaroshenko, the top editor of the Russian monthly Korruptsiya i Prestupnost (Corruption and Crime), has died from head injuries he received when he was attacked two months ago at his apartment building. His deputy believes the attack was related to Yaroshenko's work. We're not saying that's true, we're just saying: all crime reporters in Russia should carry big ass shotguns.

The image associated with this post is best viewed using a browser.Why is Fox Business Network the most trusted source of information on why the stock market is doing what it's doing? It's because of people like Matt Egan, a 24 year-old beat reporter on their web team: "I cover the stock market; it's my primary responsibility. I recap why the market is up or, mostly, why it's down." When he got the job, he says: "I had no idea about the stock market. I wish I had taken business classes. I bought a business textbook ahead of time. I read that, and started reading The Wall Street Journal every day. We had a month and a half to prep." That wasn't that long ago! I'm the same way, Matt. No knock on you. Just pointing out that Fox Business Network is where the experts are.

The image associated with this post is best viewed using a browser.The principal of a California high school confiscated hundreds of copies of the student journalism magazine because he said the cover—pegged to story about student tattoos—looked like it had a "gang tattoo" on it. How did he make this serious, and possibly illegal, censorious decision? "He said a custodian stopped him in the hall as he walked with a copy of the magazine and asked: 'Oh, you're reading a gang-tattoo magazine, huh?'" Sounds about right, yes.

The image associated with this post is best viewed using a browser.Let's have one of those "bad newspaper news roundups" that you all love so much, shall we? 43 layoffs at the Waco paper; the New York Times Co's retirement plan lost $154 million; Freedom Communications is cutting pay 5% across the board; and nine layoffs at the St. Paul Pioneer-Press. Condolences to all newspaper employees everywhere.

Bartz's tongue twisting came, unfortunately, as the CEO battles the idea she's unsuited to the job of running Yahoo, since her last company, Autodesk, makes software that runs on personal workstations rather than servers.

We sympathize: The criticism of Bartz's background seems more like thinly-veiled swiping at her age and gender than at anything substantive. Eric Schmidt escaped such second-guessing when he moved from PC software company Novell to running Google.

Fortunately for Bartz, her reputation for verbal aggression should deter critics from making undue hay of her lack of comfort with the word "algorithm."

Highlight above; full interview below.

Claman says she avoids business jargon in an effort to appeal to the average investor, sometimes using what is dubbed the Fox Business Translator. "At CNBC it was a game of who can be the smartest, who can throw around the most alphabet soup — CDSs, CDOs," she says.

What a bunch of assholes! Now Liz is over at Fox Biz, where more than 30,000 viewers across the country—a figure almost as large as the population of Nosy Varika, Madagascar—tune in for her special brand of non-exclusive, softball Wall Street coverage:

"Too many reporters are so inauthentic," Claman says. "They look so greedy. They look so obnoxious: 'I need this to be exclusive!' I don't strong-arm anyone, ever."

Liz has trouble with intricate financial concepts such as "How Twitter Works," but don't be fooled. With a strong reporting team and an equally strong Christmas card, Fox Biz is staring a bright future right in the face. [WP; pic via]

[via NYO]

“I keep hitting him up for a bottle,” said Neil Cavuto, the Fox Business Network anchor, laughing. Mr. Cavuto, who is also managing editor for business news at the Fox News Channel, added that Mr. Layfield “has an excellent sense of the marketplace, so my bet is that he’s on to something.”

[Times]

[Hollywood Reporter]

Earlier: Murdoch's Human Sacrifice

Roger Ailes, chairman of Fox Business, said he would not settle for "anything short of a revolution," given the vast resources and advertising Fox is able to deploy. At this rate, Fox Business Network shouldn't be aiming at CNBC; the network, with its bubbly and attractive correspondents, is competing with personal blogs with virtually no expenses. Maybe what Fox Business needs is more cleavage. Move the ticker to the top of the screen, Roger. (Photo from TVHeads.com)

I worked there for four years as a producer and after submitting the fullscreen to graphics correctly, occasionally there would be a typo. The only net I have seen without a typo — EVER — is ESPN. It's amazing how they pull it off with the amount of text graphics they use. CNBC and the others also use a lot of text but with a much higher graphics rate.

An excerpt from a statement by NRF spokesman Scott Krugman:

During the event, it was clear to all who attended that NRF staff members were onsite and that some were shopping ... All consumers who were interviewed were approached directly by the media. It was neither hidden nor disguised to reporters that some shoppers at the event were employed by the National Retail Federation. In one instance, an NRF staff member specifically identified himself and the reporter chose to interview him regardless.

But I heard from Fox reporter Rich Edson, who was covering the story. He said:

The NRF never disclosed the fact that their employees were going to be partaking in online shopping. Mr. Perweiler did not identify himself and I was unaware that he was with the NRF.

Perweiler had this to say when asked about his online shopping plans: "I'm looking at some big-ticket items this year so I really want to know what other people — problems they're having with items, things of that nature." Ah yes. That's what the internet is good for. Unbiased reviews. But wait, Perweiler is hardly unbiased. Silicon Alley Insider noted that Perweiler is the marketing director of the National Retail Federation. Did Fox know who he was, or was it just a coincidence?

This isn't FBN's first flub since they launched. A couple of weeks ago, FBN erroneously reported that Apple was buying a large stake in AMD. Apple wasn't. An investment company in Abu Dhabi was. Whoops. Fair, balanced ... and sloppy? As long as Fox flubs in all directions, I suppose there's no reason to complain.

As we were heading in to the Met, Mel Brooks was fleeing. He looks Jewier in person. Regis Philbin was heading to the Regency. His wife held a Museum Towers umbrella against the chill rain and said to her friend while she peered at a black Lincoln Town Car, "If the driver had any brains at all, he'd give us a sign."

Lauren Bush, the current President's niece, climbed the steps. She kissed the cheek of the gray-haired David Rubenstein, founder of the Carlisle Group and a "family friend." A middle-aged Hispanic woman pleaded with the guards to let her inside. Her father and her daughter had gone missing earlier that day: "Sorry ma'am, there's no one in here."

The stairway leading up to the second floor Medieval Art galleries was lined with tea candles that spelled out FOX. In the Sackler wing, the Riefenstahlian touches continued. Giant topiary letters spelled Fox Business. The temple of Dendur was lit blue and yellow. Social free-thinkers Celerie Kemble and her husband Ravenel Boykin Curry IV were there. "We're here for the Counting Crows," said Celerie. "I was supposed to have my birthday party tonight at the Wollman Rink but it got rained out. Eh, global warming!" "

I told her not to be so loud. She wouldn't make it to see the Counting Crows if Roger Ailes heard her.

The president of the Tiffany Foundation, Fernanda M. Kellogg, sat with her husband (and senior vice president at Stribling), Kirk Henckels. "I'm a lifelong left, born and raised," said Henckels, quietly enough. He had a bowtie. She had a humongous diamond necklace. Why are you here? I asked her. "Fox Business is a gem."

Lauren Bush was talking with Vanessa Trump. Lauren was wearing a keffiyah around her slender and sylph-like neck. Was it in solidarity with the Palestinian people or if it was in solidarity with Steve McQueen? She was there for the Counting Crows and Fox Business. Was she single? New York mag's Chris Rovzar, who is a huge huge huge Counting Crows fan, reminded me that she wasn't. She's dating David Lauren, the Ralph Lauren child, which means she'd be Lauren Lauren if they get married unless David chose to heed his father's Ashkenazi heritage and changed his name back to David Lifschitz.

Why had Rupert Murdoch picked Adam Duritz for the night's entertainment? Does he like the Counting Crows? The director of PR for Fox Business Network, Jocelyn Austin, seemed panicked that I might ask. She grabbed my arm and led me to the bar. "Let's get a drink," she said tautly.

"Uh, there's no bartender at the bar," I said. "Ha," she said, "I'll make you a drink. Let's not bother Rupert."

But we were standing next to Rupert. There was a little circle of people around him. Socialite Fabiola Beracasa was nearest.

Fabiola was wearing a silver dress. "I don't know whether to punch you or to kiss you," she said. Her boyfriend stood next to her. I thought if she kissed me, I'd get punched by him but if she punched me, he might kiss me instead, right? Adam Duritz began to sing the first unbearably crap lines of Long December. Was that Lauren Bush singing along softly? I tapped Rupert's shoulder.

He's shorter than I'd expect. He's also very powerful. I thought the best approach was informal. I gave him a pound. (Kidding.) Instead he enveloped my hand in his own soft hands and shook up and down. He feels like a cashmere doll. He had never heard of the Counting Crows. But he thought they were okay.

Jack and Suzy Welch were talking to Roger Ailes and cosmetics queen and Republican super-cougar Georgette Mosbacher. There was Page Six's Richard Johnson. He was scowling for a photograph. According to Nikola, his wife said, "Richard, you look like an angry shithead." Richard smiled. He said he didn't want to talk about what he had written about Vanessa Grigoriadis; the whole how he'd rape her but she was ugly thing.

"I have nothing to gain by this conversation," he said. "Let's let it lie."

[Update: Now we're hearing that it might have been Braden Keil's wife Jennifer Gould Keil not Richard's wife who called him a shithead, which might be even better.]