Tag Archives: bank

Trials of a redundant journalist: Days one, two and three

A new blog series which will run until our new guest blogger, who writes on the FleetStreetBlues site, and types really really fast, finds a job or gets too busy to blog. A weeks ago, this update came from FleetStreetBlues:

“A regular FleetStreetBlues contributor, without any warning, just got her marching orders this afternoon. ‘Global downturn… blah blah… smaller issues… blah blah… no advertising… blah blah… nothing we could do.’

“We’ve been writing about it for long enough – redundancies, cut-backs, journalists forced out of the profession they love – so it shouldn’t really come as a shock, but it does.

“And while we know all the things to do – networking, proactive job hunting, polishing your CV – being made redundant brings a whole new set of questions you never even considered. Like when updating the employment section of your CV… What’s a nice way of saying you just got fired?”

The FSB Redundant Journalist will cross-post her updates here. Journalism.co.uk welcomes her to this temporary blogging spot, and wishes her the best of luck in the job hunt. Here’s day one, two and three: more to come.

Follow the Trials of a Redundant Journalist series, by the Redundant Journalist, here.

DAY ONE: I’ve been unemployed for ten days.

It’s Bank Holiday Monday and thankfully, the sun is not shining. This is because I don’t have the luxury of being employed and enjoying such benefits as bank holidays.Technically every day of unemployment is a holiday, but the major downside is that my other half is breathing down my neck to get a new job so I have no choice but to get on with applying. My dreams of being a lady who lunches are yet to be fulfilled. During this recession at least.

Like everyone else, we’ve got our bills to pay, which means that in an industry where a suitable, good new job comes by once in a blue moon, I have had to cast my net further afield.

At first, the thought of going to the dark side, of PR, appalled me. My stomach churned at the thought of proactive PR in particular. But after nearly two weeks of job hunting, I must confess – those jobs are starting to look rather appealing. And it’s not just the pay.

It took me a couple of days to figure out what else I was qualified for, having wanted to be a journalist for most of my life and having work experience in little else, and to find out where to look for alternative jobs, having lived on Gorkana and Journalism.co.uk [Good call. Ed.] for the past three years. But it seems that if nothing else, I’d make a great office assistant.

Don’t mock too much – admin assistants get paid even better than journalists in a lot of cases, and if you’re looking for a stop-gap job to bring home the bacon while you keep an eye out for that lucrative journalism job, why not do something that requires little brain effort, therefore allowing you to save your energy for those applications for jobs you actually would want?

DAY TWO: So last week, I wowed the world with my WPM.’Are you sure that’s your typing speed?’

‘Er, I think so…I did those online typing speed tests.’

‘But are you sure? Most people are 70 words per minute, but 90 words per minute would be super-duper fast (yes, her exact phrase) – legal secretary fast.’

‘Er…’

‘Come in and we’ll register you and while we’re at it, we’ll test your typing speed.’

So that’s how I ended up at general recruitment agency number one. And ok, I didn’t wow ‘the world’, but I managed to surprise myself and the agency by proving that I have a touch-typing wpm of 95.

DAY THREE: There’s an emotional curve to redundancy. After I got over the initial shock of being made redundant, the next emotion was anger at the unfairness of the situation, quite closely followed by depression.

I was just a few days into the depression stage, however, when a little spark of hope landed my way – in the form of a freelance commission. On a subject I knew nothing about, but journalism work nonetheless.

Although I’d been unemployed for about just a week by this stage, it’s hard to describe quite how happy I was to be calling people up to interview them for the article.

Mundane as this may seem once you’ve got a journalism job, it also seemed the most natural thing for me to do (after all, it’s what I’ve been doing on a daily basis for the past two years) and it made one thing really clear to me – I’ll never be able to give up journalism for ever. Or at least it will be hard to give up without a fight.

Money Saving Expert’s Martin Lewis on ethical concerns with financial reporting

Speaking to students at Coventry University last Friday, via video link from BBC TV Centre, UK financial journalist and consumer champion, Martin Lewis of MoneySavingExpert.com, raised questions about the ethics of economic reporting, and called for specialist journalists to declare their bias prior to publication.

“I am an ‘agenda journalist’, my job is to support opportunism,” Lewis said. “I know that I am biased. My worry is that a lot of journalism is biased without necessarily claiming that it is biased,” he said.

Had it been Lewis himself who had got Robert Peston’s Northern Rock crisis scoop for the BBC in 2007, it would have raised ethical questions for him, he said. He would find ‘breaking a bank down difficult to live with,’ he said.

“It is an incredibly difficult question, because if you answer publicly that you are worried about one bank, you can cause the problems that you were talking about,” Lewis said.

The creator of MoneySavingExpert.com dismissed claims that financial journalists, particularly Peston, were becoming too powerful in the volatile economic climate, and said that stories had impact, but not overriding power in decisions made.

“Government has to follow the way the media is going to cover these stories, but ultimately, the people who are making the decisions are the lawyers, the people sitting in the Bank of England, at the FSA [Financial Services Authority] and in the cabinet,” he said.

Defending the future of financial journalism, Lewis claimed that there would always be a place for economic reporting, but that the significance of the reporting would depend on the methods used by the journalists involved.

“What we want is journalists who are questioning, but who also have to be respectful of the wider picture, and the impact that their journalism has on people,” he said.

The ‘money saving expert’ also insisted that journalists need an ‘ability to see both sides’ in order to avoid the potential pitfalls presented by a subject with such a large effect on so many people.

Guardian.co.uk: Barclays obtain court order to ban Guardian from publishing documents

“Barclays Bank obtained a court order early today banning the Guardian from publishing documents which showed how the bank set up companies to avoid hundreds of millions of pounds in tax,” the Guardian reports today.

Full story at this link…

Online Journalism Scandinavia: Online media play crucial role in Iceland’s fleece revolution

On Monday, Iceland’s coalition government collapsed under the strain of an escalating economic crisis.

However, because of widespread cross-ownership, Icelandic media is not only feeling the impact of the crisis on its advertisement revenues; it’s in the eye of the storm, and angry Icelanders have turned to turn to the web to inform each other, organise anti-government rallies and vent their frustrations.

“It’s a grassroots revolution,” said Andri Sigurðsson, a blogger and web developer.

He explained that Iceland had seen a surge in political blogs in the wake of the financial turmoil, and that people had turned to using web tools such as Facebook and Twitter to organise demonstrations and protests.

With so many people losing their jobs, this year the island is facing the highest unemployment in decades. Some have turned to blogging full time – the blogger behind Newsfrettir, for example, has started translating Icelandic news to English after being made redundant in October.

Since the country’s biggest newspaper, Fréttablaðið, along with a large portion of the rest of Icelandic media, is controlled by Baugur (the ailing investment company that also owns a large stake in Iceland’s and the UK’s retail industry); and the second biggest newspaper, Morgunblaðið, has been controlled by Björgólfur Guðmundsson (owner and chairman of West Ham FC and chairman of Landsbanki, the bank embroiled in the Icesave scandal)… the whole situation gets rather complicated.

“We’re trying to cut all our connections to Baugur. You know, the sugar daddy behind DV and Fréttablaðið was Baugur, but the sugar daddy behind Morgunbladid was Björgólfur Guðmundsson? Every media here has its problem. We had Baugur’s Jon Asgeir Jóhannesson, they have Björgólfur,” said Reynir Traustasson, editor-in-chief of Icelandic tabloid DV, pictured right.

It is against this backdrop that political blogs such as the conservative AMX.is and the socialist-green Smugan.is have grown in popularity. However, Fréttablaðið’s editor-in-chief Jón Kaldal, does not see the surge in independent sites for news and opinion as a threat to mainstream media.

“None of these are doing investigative reporting; they are just repeating what has been written elsewhere. It is an outlet for gossip and rumours. But certain internet sites have worked well to get information out of the government. When gossip breaks out on these sites, the government is forced to come out of hiding,” he said.

Yet Kaldal was not optimistic about the times ahead:

“The whole society of Iceland is in a very strange place at the moment. It’s like we’re engulfed in a thick fog, and we don’t know quite how the world will look like when it lifts. Always in a recession or downturn there is a stronger demand for effect in advertisement. The strong grow stronger during a recession. But the situation here on Iceland is so critical that I don’t know if that’s enough.”

Read more about online journalism and the media in Scandinavia at this link.

Images in this post used with the author’s permission. For more of Kristine’s Iceland images visit Flickr.

SoE08: Robert Peston on the media’s role in the economic crisis

Suggestions that the media caused the current economic crisis are ‘laughable’, BBC Business editor Robert Peston told the Society of Editors (SoE) conference today.

And claims that the BBC or Peston himself broke Northern Rock – meaning the bank itself and not the story – are ‘total baloney’, he added.

“This isn’t a reason for us [the media] to be self-satisfied or complacent. The media in general, in news but also in features, were in a sense complicit in the canard that house prices can only rise,” said Peston.

“For years and years endless property programmes and supplements created the myth that houses were a one-way bet and debts never had to be repaid.”

But, he said, it would have been ‘very hard for journalists’ to stand in the way of huge economic forces and say the world economy was headed for crisis.

Speaking of his own experiences as a business journalist, Peston said he was fortunate to have learnt ‘how debt worked’ during time spent at Investors Chronicle.

“Most business journalists don’t have that, they’re obsessed with stock markets. I think all of us have to think about the knowledge that resides in our organisations,” he added.

Independent: Trinity and Johnston Press to merge?

“Trinity Mirror and Johnston Press failed to draw any steam out of suggestions that they should merge yesterday as the London market, unsettled by fears for the economy, sank into the red,” so say a piece in the Independent that canvased opinion of leading mergers and aquisitions bank ABN Amro about the nightmare that is advertising reveune in regional newspaper publishing.

The bank stirred the pot by telling the Indy that given the problems faced by the media sector companies would increasingly look for industry consolidation.

“These are desperate times, and they call for desperate measures: we believe a Trinity/Johnston combination makes sense,” ABN said.

WAN 2008: Web TV Q&A with Kalle Jungkvist, editor-in-chief Aftonbladet.se

Kalle Jungkvist chaired the digital round table of the World Newspaper Congress looking at growing multimedia audience and revenues. Journalism.co.uk talked to him after the session about the success of his newspapers web TV operation.

In your opening you said that Aftonbladet was a video rich site and that you are a rival to Swedish TV broadcasters, could you explain how?
In a single week we have about one million visitors just to the video service. Even that is bigger than the whole of the audience to the biggest commercial TV site TV4. We are the biggest on web TV.

Swedish public service television focuses on longer programmes for web TV but they don’t have the same reach.

Is yours just news programming?
We work with feeds from AP and Reuters, the same feed really that TV companies have for their news programmes. We use part of that, clip it down and re-edit it and so on.

The other part is that we have a lot of user videos, so when there is a big explosion or a bank is robbed, for example, it takes just two minutes to get videos from the users.

So we do a lot of campaigning for the readers to send those to us and not to the TV stations.

The third part is that we have team of our own, both programming and editing, and also reporters going out on big stories.

And they put packages together?
We don’t make news programmes, we use news clips. From 30 seconds to three minutes. We use small format programmes for the web, five minutes or so, that are based on fashion with our fashion reporter for example and they are starting to get very high numbers.

For the European Football Championships we have also started an 18 minute programme with our football experts.

Just a year ago it was just 30 seconds to a minute clips that were popular, now there is a whole menu that is increasing fast.

What do you put that success down to?
We stared in 1997 and have had a small video web team all the way through. But we really launched web video services in a big way two years ago.

One very important point is that TV company websites just take clips from their ordinary news service… we noticed that, for a video clip that we produce together with written text, when you integrate it into a news story the numbers go up.

We try to have moving pictures with big news stories as fast as possible and we are much faster than the TV guys.

As the clips get longer has that changed when viewers watch them?
In the afternoon people look at shorter clips then in the evening we have a prime time at eight. The same as TV. People are looking at more and watching longer formats here, using us in a different way. They are at home, they are more relaxed and we are really taking people from the traditional broadcast TV to us.

We are not stealing a big audience yet but we haven’t had this peak at eight o’clock before… a lot of young people don’t look at linear TV anymore.