By Brian Mooney
An within examine the stunning decline of Reuters.
* beneficial properties specific interviews with Reuters staffers, opponents, and clients
* Written through former Reuters journalists
* Examines one of many largest tales in contemporary journalism background
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Extra info for Breaking News: How the Wheels Came off at Reuters
Townsend had no record at the time. Having said that, was Townsend a more talented better group? Probably. At the time it was hard to judge. ” “One clear theme at Reuters is that when presented with two or more possible paths in technology or architecture, Reuters has chosen poorly – but through no great fault or negligence of anyone. The correct path is never obvious, especially in times of real structural shifts. ” With the full support of Job, both before and after he became chief executive, Reuters poured more than $20m into ESL before it was finally closed down in 2002.
Reuters employed more than 10,000 staff in 180 offices worldwide, and was undisputed market leader in news and information. 42 Battling Bloomberg 3 Battling Bloomberg ichael Rubens Bloomberg, founder of Bloomberg LP, is now Mayor of New York City with an official residence on Upper East Side just off Central Park and ornate offices in City Hall in Lower Manhattan. Bloomberg has status, and huge wealth with which he has pursued public office and a lavish lifestyle. 8bn, making him the twenty-ninth richest man in America and sixty-third in the world.
This was the fault line on which Reuters repeated attempts to compete foundered, and it was always going to be easier for Bloomberg to add real-time data than for Reuters to build a database that would complement its real-time information. Reuters failure to come to terms with this fundamental difference was already apparent in the way Mulhall’s proposal was brushed aside. David Brocklehurst, one of Mulhall’s colleagues in marketing at the time, recalls discussions about his proposals ‘going round in circles’.