Bloomberg Businessweek Warning: You are not logged in. Your IP address will be publicly visible if you make any edits. If you log in or create an account, your edits will be attributed to your username, along with other benefits.Anti-spam check. Do not fill this in! ==History== ''The Business Week'' was first published based in [[New York City]] in September 1929, weeks before the [[stock market crash of 1929]].<ref>{{Cite web|url=https://www.thebalancesmb.com/best-business-magazines-4176680|title=The 8 Best Business Magazines of 2020|last=Delbridge|first=Emily|date=November 21, 2019|website=The Balance Small Business|publisher=Dotdash|location=New York City|at=Best for Business News: Bloomberg Businessweek |access-date=8 Feb 2020}}</ref> The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which made ''The Business Week'' one of the first publications to cover national political issues that directly impacted the business world.<ref>{{cite web |title=A historical perspective of Businessweek, sold to Bloomberg |date=13 October 2009 |access-date=August 14, 2010 |url=http://www.talkingbiznews.com/1/a-historical-perspective-of-businessweek-sold-to-bloomberg/ |publisher=Talking Biz News}}</ref> The name of the magazine was shortened to ''Business Week'' in 1934.<ref>[See decade histories at [https://www.bloomberg.com/news/features/2019-12-20/businessweek-at-90-covering-business-through-the-decades#xj4y7vzkg "Businessweek at 90: Covering Business Through the Decades"].</ref> ''Business Week'' was originally published to be a resource for business managers. However, in the 1970s, the magazine shifted its strategy and added consumers outside the business world.<ref name="auto"/> {{As of|1975}}, the magazine was carrying more advertising pages annually than any other magazine in the United States.<ref name="Jackson2010">{{cite book |title=The Encyclopedia of New York City |url=https://books.google.com/books?id=lI5ERUmHf3YC&pg=PT957 |publisher=Yale University Press; New‑York Historical Society |date=2010 |page=957 |editor1-first=Kenneth T. |editor1-last=Jackson |editor2-first=Lisa |editor2-last=Keller |editor3-first=Nancy V. |editor3-last=Flood |location=New Haven |edition=2nd |isbn=978-0-300-18257-6 |lccn=2010-31294 |oclc=842264684 |ol=25891135M}}</ref> Around the end of 1976 or beginning of 1977, the magazine's name's form was changed from ''Business Week'' to ''BusinessWeek''.<ref>Compare the [https://www.ebay.com/itm/255961398608 October 4, 1976 cover] to the [https://www.wolfgangs.com/vintage-magazines/business-week/vintage-magazine/OMS797440.html January 24, 1977 cover].</ref> ''Businessweek'' began publishing its annual rankings of United States [[business school]] [[Master of Business Administration|MBA]] programs in 1988.<ref>{{cite web|url=http://www.businessweek.com/bschools/06/full_time.htm|title=BusinessWeek Business School Rankings|work=BusinessWeek|archive-url=https://web.archive.org/web/20070603221452/http://www.businessweek.com/bschools/06/full_time.htm|archive-date=June 3, 2007|url-status=dead|access-date=January 23, 2007}}</ref> [[Stephen B. Shepard]] served as editor-in-chief from 1984 until 2005 when he was chosen to be the founding dean of the [[CUNY Graduate School of Journalism]]. Under Shepard, ''Businessweek''{{'}}s readership grew to more than six million in the late 1980s.<ref>{{cite news |title=Controlling 'insider' information is impossible |access-date=July 22, 2011 |url=https://pqasb.pqarchiver.com/thestar/access/474002621.html?FMT=ABS&FMTS=ABS:FT&type=current&date=Jul+31%2C+1988&author=Philip+Moeller+Special+to+The+Star&pub=Toronto+Star&desc=Controlling+%27insider%27+information+is+impossible&pqatl=google |archive-url=https://archive.today/20130730152834/http://pqasb.pqarchiver.com/thestar/access/474002621.html?FMT=ABS&FMTS=ABS:FT&type=current&date=Jul+31,+1988&author=Philip+Moeller+Special+to+The+Star&pub=Toronto+Star&desc=Controlling+'insider'+information+is+impossible&pqatl=google |url-status=dead |archive-date=July 30, 2013 |work=Toronto Star |first=Philip |last=Moeller |date=July 31, 1988 }}</ref> He was succeeded by [[Stephen J. Adler]] of ''[[The Wall Street Journal]]''.<ref>{{cite news |title=BusinessWeek Chooses Outsider as Editor in Chief |access-date=July 22, 2011 |url=https://www.nytimes.com/2004/12/07/business/media/07mag.html |work=[[The New York Times]] |first=Jacques |last=Steinberg |date=December 7, 2004}}</ref> In 2006, ''Businessweek'' started publishing annual rankings of [[undergraduate education|undergraduate]] business programs in addition to its MBA program listing.<ref>{{cite web|url=http://bwnt.businessweek.com/bschools/undergraduate/10rankings/|title=Undergrad Rankings 2010|work=BusinessWeek|archive-url=https://web.archive.org/web/20100504090914/http://bwnt.businessweek.com/bschools/undergraduate/10rankings/|archive-date=May 4, 2010|url-status=dead|access-date=April 10, 2010}}</ref> ===Recession and Bloomberg LP acquisition=== ''Businessweek'' suffered a decline in circulation during the [[late-2000s recession]] as advertising revenues fell one-third by the start of 2009 and the magazine's circulation fell to 936,000. In July 2009, it was reported that [[McGraw-Hill]] was trying to sell ''Businessweek'' and had hired [[Evercore Partners]] to conduct the sale.<ref>{{Cite news|url=https://www.reuters.com/article/us-mcgrawhill-businessweek-idUSTRE56C1W020090713|title=McGraw-Hill trying to sell BusinessWeek: source|date=2009-07-13|work=Reuters|access-date=2019-10-29|language=en}}</ref> Because of the magazine's liabilities, it was suggested that it might change hands for the nominal price of $1 to an investor who was willing to incur losses turning the magazine around.<ref>{{cite news |title=Business Week sale may fetch only $1 |first=Andrew |last=Edgecliffe-Johnson |date=July 13, 2009 |access-date=April 1, 2013 |url=https://www.ft.com/content/bd68cdc6-6fdc-11de-b835-00144feabdc0 |work=[[Financial Times]]|url-access=subscription}}</ref> In late 2009, [[Bloomberg L.P.]] bought the magazine—reportedly for between $2{{nbsp}}million to $5{{nbsp}}million plus assumption of liabilities—and renamed it ''Bloomberg BusinessWeek''.<ref>{{cite web |title=Bloomberg to take over BusinessWeek |date=October 13, 2009 |access-date=July 22, 2011 |url=http://www.nbcnews.com/id/33299108/ns/business-media_biz/ |agency=[[Associated Press]] |publisher=[[MSNBC]]}}</ref> It is now{{when|date=December 2019}} believed{{by whom|date=December 2019}} McGraw-Hill received the high end of the speculated price, at $5{{nbsp}}million, along with the assumption of debt.<ref>{{Cite news|url=https://www.nytimes.com/2009/10/14/business/media/14bizweek.html|title=Bloomberg Buys BusinessWeek From McGraw-Hill|last1=Clifford|first1=Stephanie|date=2009-10-13|work=The New York Times|access-date=2019-12-04|url-status=live|archive-url=https://web.archive.org/web/20191204060152/https://www.nytimes.com/2009/10/14/business/media/14bizweek.html|archive-date=2019-12-04|last2=Carr|first2=David|language=en-US|issn=0362-4331|quote=Terms of the deal were not disclosed, but the price was said to be near $5 million, plus assumption of liabilities, which were $31.9 million as of April.}}</ref><ref>{{Cite web|url=https://www.businessinsider.com/businessweek-sale-gives-mcgraw-hill-59-million-after-taxes-2009-10|title=BusinessWeek Sale Gives McGraw Hill $5.9 Million After Taxes|last=Yarow|first=Jay|website=Business Insider|access-date=2019-12-04}}</ref> === 2010−2018 === In early 2010, the magazine title was restyled ''Bloomberg Businessweek'' (with a lowercase "w") as part of a redesign.<ref>{{cite web|url=http://www.spd.org/2010/04/bloomberg-businessweek-redesig.php|title=Bloomberg Businessweek Redesign|last=Klenert|first=Josh|date=April 26, 2010|publisher=Society of Publication Designers|archive-url=https://web.archive.org/web/20110310035607/http://www.spd.org/2010/04/bloomberg-businessweek-redesig.php|archive-date=March 10, 2011|url-status=dead|access-date=April 13, 2011|df=mdy-all}}</ref> {{As of|2014}}, the magazine was losing $30{{nbsp}}million per year, about half of the $60{{nbsp}}million it was reported losing in 2009.<ref>{{cite web|url=https://www.ft.com/content/b7fe4a52-7ff1-11e4-adff-00144feabdc0|title=Bloomberg believes in Businessweek as a model|work=Financial Times|access-date=October 13, 2017|first=Shannon |last=Bond|date=December 10, 2014|url-access=subscription}}</ref> Adler resigned as editor-in-chief and was replaced by [[Josh Tyrangiel]], who had been deputy managing editor of ''[[Time (magazine)|Time]]'' magazine.<ref>{{cite news |first=Stephanie |last=Clifford |title=Deputy at Time Magazine to Be BusinessWeek Editor |date=November 18, 2009 |access-date=July 22, 2011 |url=https://www.nytimes.com/2009/11/18/business/media/18mag.html |work=[[The New York Times]] |page=B3}}</ref> In 2016, Bloomberg announced changes to ''Businessweek'', which was losing between $20 and $30 million. Nearly 30 Bloomberg News journalists were let go across the U.S., Europe and Asia and it was announced that a new version of ''Bloomberg Businessweek'' would launch the following year. In addition, editor in chief Ellen Pollock stepped down from her position and Washington Bureau Chief Megan Murphy was named as the next editor in chief.<ref name=":0">{{Cite news|url=https://www.wsj.com/articles/bloomberg-changes-businessweek-leaders-ends-political-tv-program-1479414097|title=Bloomberg Changes Businessweek Leaders, Ends Political TV Program|last=Alpert|first=Lukas I.|date=2016-11-17|newspaper=Wall Street Journal|issn=0099-9660|access-date=2016-12-04}}</ref> Megan Murphy served as editor from November 2016;<ref name=":0" /> until she stepped down from the role in January 2018 and Joel Weber was appointed by the editorial board in her place.<ref>{{cite web |url= https://www.businessinsider.com/bloomberg-businessweek-hires-a-new-editor-shakes-up-top-management-2018-1?international=true&r=US&IR=T |title= Bloomberg Businessweek hires a new editor |last= Tani |first= Maxwell |date= 2018-01-04 |website= Business Insider |publisher= Insider, Inc |access-date= 2019-01-10 |quote= ''Bloomberg Businessweek'' announced a new editor on Thursday, shuffling its editorial structure.<br>According to three people at Bloomberg, ''Bloomberg Markets'' magazine editor Joel Weber will take over the company's flagship ''Businessweek'' magazine, succeeding current editor Megan Murphy.}}</ref> ==== "The Big Hack" controversy <span class="anchor" id="The_Big_Hack"></span> ==== On October 4, 2018, ''Bloomberg Businessweek'' published "The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies", an article by Jordan Robertson and Michael Riley which claimed that [[China]] had hacked dozens of technology corporations including [[Amazon (company)|Amazon]] and [[Apple Inc.|Apple]] by placing an extra integrated circuit on a [[Supermicro]] server motherboard during manufacturing.<ref>{{cite news|access-date=2019-05-30|title=China Used a Tiny Chip in a Hack That Infiltrated U.S. Companies|url=https://www.bloomberg.com/news/features/2018-10-04/the-big-hack-how-china-used-a-tiny-chip-to-infiltrate-america-s-top-companies|date=4 October 2018|website=Bloomberg Businessweek|first1=Jordan|last1=Robertson|first2=Michael|last2=Riley}}</ref> Pingwest, a media company founded in [[Silicon Valley]] and based in [[Beijing]], identified the chip mentioned in the article as a [[balun]]. Pingwest pointed out that its size made it impossible to implement any form of attack; it did not have the storage space required to store commands that would allow a [[hacker]] to infiltrate the hardware. They suggested that ''Businessweek'' had underestimated security standards employed by Amazon and Apple.<ref>{{Cite web |title=彭博社曝光的"间谍芯片",我在淘宝1块钱就能买一个 |url=https://www.pingwest.com/a/178013 |access-date=2022-05-21 |work=pingwest.com |language=zh}}</ref> The claims by Bloomberg have been heavily questioned. By 2 p.m. on the day of publication, [[Apple Inc.|Apple]], [[Amazon (company)|Amazon]], and [[Supermicro]] issued blanket denials, which Bloomberg reported.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2018-10-04/the-big-hack-amazon-apple-supermicro-and-beijing-respond|date=4 October 2018|title=The Big Hack: Statements From Amazon, Apple, Supermicro, and the Chinese Government|website=[[Bloomberg News]]}}</ref> Within the week, the [[United States Department of Homeland Security]] stated that it saw no reason to question those refutations.<ref>{{cite web|url=https://www.dhs.gov/news/2018/10/06/statement-dhs-press-secretary-recent-media-reports-potential-supply-chain-compromise|date=6 October 2018|title=Statement from DHS Press Secretary on Recent Media Reports of Potential Supply Chain Compromise}}</ref> The [[National Security Agency]] and [[Government Communications Headquarters]] and [[National_Cyber_Security_Centre_(United_Kingdom)|NCSC]] also denied the article's claims.<ref>{{cite web|url=https://www.zdnet.com/article/dhs-and-gchq-join-amazon-and-apple-in-denying-bloomberg-chip-hack-story/|title=DHS and GCHQ join Amazon and Apple in denying Bloomberg chip hack story|publisher=[[ZDNet]]|access-date=Oct 7, 2018}}</ref> In 2021, Bloomberg published a follow-up article standing by its allegations.<ref>{{Cite news |last=Robertson |first=Jordan |last2=Riley |first2=Michael |date=2021-02-12 |title=The Long Hack: How China Exploited a U.S. Tech Supplier |url=https://www.bloomberg.com/features/2021-supermicro/ |url-status=live |archive-url=https://web.archive.org/web/20230721093448/https://www.bloomberg.com/features/2021-supermicro/ |archive-date=July 21, 2023 |access-date=2023-07-27 |work=Bloomberg.com |language=en}}</ref><ref>{{Cite news |last=Moss |first=Sebastian |date=February 12, 2021 |title=Years later, Bloomberg doubles down on disputed Supermicro supply chain hack story |url=https://www.datacenterdynamics.com/en/news/years-later-bloomberg-doubles-down-disputed-supermicro-supply-chain-hack-story/ |url-status=live |archive-url=https://web.archive.org/web/20230727121852/https://www.datacenterdynamics.com/en/news/years-later-bloomberg-doubles-down-disputed-supermicro-supply-chain-hack-story/ |archive-date=July 27, 2023 |access-date=July 27, 2023 |work=Data Center Dynamics}}</ref> === Switch to monthly publishing === On Dec. 1, 2023, ''The'' ''New York Times'' reported a memo was sent out to ''Bloomberg Businessweek'' staff members informing them the publication will relaunch sometime in 2024 as a monthly magazine and be redesigned with “heavier paper stock for a more high-end look and feel.”<ref>{{Cite news |last=Robertson |first=Katie |date=2023-11-30 |title=Bloomberg Businessweek to Go Monthly |language=en-US |work=The New York Times |url=https://www.nytimes.com/2023/11/30/business/media/bloomberg-businessweek-monthly.html |access-date=2023-12-01 |issn=0362-4331}}</ref> [[Brad Stone (journalist)|Brad Stone]] was appointed editor of the magazine in January 2024 and will oversee the transition to monthly publication. The magazine switched to publishing bi-weekly as part of the transition, starting in January.<ref>{{Cite web |date=2024-03-24 |title=What is Bloomberg Businessweek issue frequency? {{!}} Bloomberg Help Center |url=https://web.archive.org/web/20240324014441/https://www.bloomberg.com/help/question/what-is-bloomberg-businessweek-issue-frequency/ |access-date=2024-03-24 |website=web.archive.org}}</ref> Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see Christianpedia:Copyrights for details). Do not submit copyrighted work without permission! Cancel Editing help (opens in new window) Discuss this page