Media

Forty years ago, when Janet Yellen, chairwoman of the US Federal Reserve, was an economist at Harvard University, she was interested in the film Five Easy Pieces. She noted the scene in which a diner waitress refuses to bring Jack Nicholson’s character an omelette with coffee and wheat toast because it serves omelettes with cottage fries and rolls. “I know what it comes with, but it’s not what I want,” he retorts.

John Gapper

Dan Doctoroff might have known what was coming when Michael Bloomberg decided on the location for his new desk upon returning “part-time” to his eponymous company after three terms as mayor of New York City.

Mr Doctoroff, the man Mr Bloomberg chose to lead Bloomberg in his political absence, told employees in January that the founder would “most likely spend a few hours a day working from his new desk on the fifth floor,” at Bloomberg’s offices on Lexington Avenue in New York. Read more

John Gapper

My first reaction to the $73bn bid from 21st Century Fox for Time Warner, which this week settled in for a prolonged fight as Time Warner blocked Fox from mounting a rapid assault on its board of directors, was to ask: what problem is Rupert Murdoch trying to solve?

John Gapper

Rupert Murdoch is not exactly putting his money where his mouth is with 21st Century Fox’s unsolicited $80bn offer for Time Warner. By offering non-voting Fox shares as part of the cash-and-stock bid he has made clear that he will not risk his voting grip on his family-controlled company. Read more

John Gapper

Oliver Chris and Billie Piper in Great Britain. Photo: Johan Persson

Having written about the obsolescence of the Fleet Street tabloids in my column last week, I was intrigued to attend a dress rehearsal on Saturday of Great Britain, the new Richard Bean farce about phone hacking and corruption in the British establishment.

The play, which opened on Monday night at the National Theatre, has received mostly positive (with some negative) reviews but I found it disappointing, for reasons related to the column.

One difficulty was expressed by my wife, who leaned across halfway through the first half and whispered: “When is this set?” That was a good question, for it appeared to be taking place at various times in the past three decades. Read more

It was fitting that when Rebekah Brooks, the former editor of the News of the World, was overcome with emotion at the Old Bailey on Tuesday, having been acquitted of charges related to phone hacking, she was helped by the court matron. Only a tabloid case would feature a figure so reminiscent of old British institutions such as boarding schools and cottage hospitals.

Inefficiency is not a quality usually associated with Amazon but Jeff Bezos’s company is behaving as if it is a small, disorganised bookstore that cannot quite control its stock. “You want that book, do you? Very sorry but we have run out. We can order you another copy but they are taking a long time to arrive at the moment. How about buying another title instead?”

Andrew Hill

Graves at the Père-Lachaise-cemetery in Paris

I’ve been wondering about the most suitable place to commemorate the death of the Omnicom-Publicis deal. How about Père Lachaise cemetery in Paris, where Oscar Wilde and The Doors’ Jim Morrison are buried?

A photo of Maurice Lévy and John Wren, respectively the bosses of Publicis and Omnicom, thumbing their noses at each other against a backdrop of moss-covered tombs would be just as appropriate in its way as the infamous deal-announcement image of the two men toasting one another, with the Arc de Triomphe in the background. Read more

Suddenly, after a prolonged drought, fresh money is pouring into US digital news. The strange thing is where it is going.

Andrew Hill

My first reaction to the latest news of changes at the top of the Murdoch empire was: did the shrink get involved?

Succession planning at family businesses is often full of unlikely twists and shrieking. After the phone-hacking scandal broke over Rupert Murdoch’s UK newspapers in 2011, Vanity Fair claimed that the Murdoch siblings had discussed succession with a “family counsellor”, partly in an attempt to smooth the process. Read more

Adam Jones

President Business, The Lego Movie's villain (AP)

Business schools love Lego. One Wharton professor co-wrote a tribute to the Danish toymaker, arguing that it “rewrote the rules of innovation”. But has this case study taken an anti-capitalist turn?

The baddie in The Lego Movie, out this month, is called President Business, prompting excitable Fox Business TV pundits to froth about the brand being used to brainwash kids against the profit motive. Rustbelt leftie Michael Moore tweeted his approval of the film, adding fuel to the fire.

However, having seen the film last weekend, I can assure any Ayn Rand-worshipping FT readers that it is not a threat. Read more

“News is what somebody does not want you to print. All the rest is advertising,” runs the journalists’ mantra, variously ascribed to publishers William Randolph Hearst and Lord Northcliffe. If so, news is being deluged.

Michael Skapinker

If ousted Danske Bank chief executive Eivind Kolding’s controversial advertising campaign persuaded any customers to take their accounts elsewhere, that is some achievement. Bank customers are reluctant to change banks regardless of what the advertising says.

I may be an extreme case – I have been with the same bank for 35 years – but international studies suggest I am not unusual. A worldwide survey last year by EY, the professional services firm, found that just a third of customers had ever changed their main bank.

Of course, Mr Kolding’s aim was to persuade customers to put their money in his bank rather than to take it out. The problem was that the Danske Bank ad (“A new normal demands news standards”), which featured, among other things, street rioters, Occupy campaigners and crumbling icebergs, was a category error. Read more

John Gapper

Tina Brown isn’t quite the power she once was in the New York media world but the famed editor is always worth watching for what she comes up with next. Her departure from The Daily Beast to run a live events company is no exception.

Barry Diller, founder of IAC, clearly lost patience with the ongoing losses at the Beast. It is reported by AdWeek to be on track to lose $12m this year, even after ditching Newsweek, which Ms Brown tried and failed to turn round.

But, never daunted, Ms Brown, a former editor of Tatler, the New Yorker and Vanity Fair magazines, is setting up Tina Brown Live Media. A sort of newfangled conference business it will, according her press release, produce “sponsor-supported summits, salons and flash debates”.

The first question is: what on earth is a “flash debate”? The best explanation so far was provided to Erik Wemple of the Washington Post. A “source close to Brown’s negotiations” told him: “’It’s bringing a group of people together in a quick time period doing topics of the day.’” Read more

Andrew Hill

 

It’s time to scotch the idea that because Twitter is a new medium, it requires companies to adopt entirely novel rules of behaviour for employees. The departure of Business Insider chief technology officer Pax Dickinson and the embarrassment of Ian Katz, BBC Newsnight editor, both as a result of inappropriate tweets, illustrate the point.

These men may have been using new-fangled tools, but they made old-fashioned errors of taste, judgment and behaviour, to which old-fashioned corporate codes of conduct should apply. Read more