Business Reporting

Many radio and TV news organizations regularly program business news; some even offer daily business programs. Other organizations that do not set aside time for business segments in regular news programs still may have someone on the staff who covers business news

Business specialists need to understand the complex issues of business and finance. These issues include mergers and takeovers, the savings-and-loan scandal, the ups-and-downs on Wall Street, and interest rates and trade deficits.

Students thinking about a career as a business reporter should take courses in economics, marketing, and other business- related subjects and, perhaps, consider graduate work in business. An MBA degree carries a lot of weight with many news managers.

As always, research is a necessity. Broadcasters specializing in business reporting should read periodicals such as Barron’s, Business Week, The Economist, Forbes, and Fortune. The Wall Street Journal is the bible for the business world. Similarly, The New York Times, The Washington Post, and their counterparts in other large cities have excellent business columns and reports that business specialists should follow. There are also many good trade publications devoted to business and industry. While many of these publications have biases that the reporter must consider, they should by no means be discounted. They are full of information that helps reporters learn about industries and new systems, techniques, and products.

The business reporter uses the same basic techniques as a general assignment reporter-developing good sources and cross- checking information for reliability. Covering business is a little like covering politics. There’s a lot of speculation, and a good reporter soon learns to be skeptical about any predictions concerning the economy, interest rates, and the stock market.

Reporters thinking about specializing in business news should remember that the opportunities are not as great as in some other specialties, such as environmental and medical reporting. The reason is because radio and TV stations do not normally spend as much air time on business subjects as on these other issues, partly because many news directors think that except for the Dow Jones averages, most business news is either too dull or too complicated to explain to the public. At the same time, many stations that do have business reporters say they get good feedback from the public on business news.