A gripping reconstruction of a media story whose implications have yet to fully unfold.
A former Wall Street Journal reporter delivers a behind-the-scenes account of Rupert Murdoch’s takeover of the venerable publication.
From the beginning Murdoch was playing a larger game, larger even than the “mere” acquisition of Dow Jones & Co. By adding the nation’s premier business-news organization and its coveted crown jewel to his already vast News Corp. empire, he intended to displace the New York Times as the country’s news and opinion leader. To win over the Bancroft family—for 105 years the owners of the proudly independent Journal and without whom no transaction would be possible—and to calm the paper’s nervous newsroom, the shrewdly self-aware Murdoch knew that he had to overcome his reputation as a meddling owner who used his newspapers to advance his own business interests and political views. Of course, his stunning $5 billion, $60-per-share offer was a good start to negotiations. Ellison appears to have nailed down all aspects of the deal. A ten-year Journal veteran and thoroughly versed in the paper’s culture, the author capably describes the newsroom dynamic, both pre- and post-Murdoch, the shifting power centers and the transformation from a more contemplative, analytical form of journalism to the banner headline, breaking story, product of today. Ellison also excels at sorting out the 35 adult Bancrofts, exploring the family fissures Murdoch so adroitly exploited among a group who saw themselves as noble guardians of a fine tradition, but who come off here as thin-blooded, self-interested and no match for the Australian’s thorough preparation and nimble maneuvering. Their feckless attempt to impose on the media baron a deal structure assuring editorial independence for the Journal, even as they helped themselves to his billions, almost defines a stewardship ripe for termination. It’s a measure of Ellison’s evenhandedness that, while clearly no Murdoch fan, she candidly exposes the ownership and management deficiencies that made a journalistic icon so vulnerable to capture.
A gripping reconstruction of a media story whose implications have yet to fully unfold.Pub Date: May 12, 2010
ISBN: 978-0-547-15243-1
Page Count: 304
Publisher: Houghton Mifflin
Review Posted Online: Oct. 5, 2010
Kirkus Reviews Issue: Feb. 15, 2010
A welcome and readable account of the effort of a unique bank in Bangladesh to help that country's poor. Bangladeshi native Muhammad Yunus came to America to study economics and returned home to aid his countrymen. So poor that it is often called ``The Fifth World,'' Bangladesh has high poverty and birth rates and is frequently devastated by monsoons. Its thousands of villages are poor, but Yunus saw that many of the residents had real skills and came to believe that if they were provided with the means to borrow money they could find ways to support themselves. In 1975, he began what became the Grameen Bank (gram is the Bangla word for village) and distributed small loans- -some for as little as five dollars—to the poorest. Most of the loan takers were women. In return, he demanded precise, weekly repayment of the loans and insisted that villagers join together in small groups so that if a member fell behind, the others would encourage her to pay her loan. Yunus kept Grameen bound to its ideals, and today the bank thrives, lending at a fair interest rate while still turning a profit. It has made loans in excess of $1.5 billion and has over one thousand branch offices. The employees of Grameen have an absolute dedication to the bank, and the bank has had an enormous effect on Bangladesh. Bornstein, a journalist, does an excellent job of tracing the growth of the bank in relationship to the country's recent history. He also cogently explains why large public works projects in developing countries are frequently disasters. Yunus's view, one that he teaches to other countries as well, is that the populace of a developing nation must learn to take care of itself. A genuinely amazing story and an interesting read in an age when aid to the poor is demonized.
Pub Date: May 1, 1996
ISBN: 0-684-81191-X
Page Count: 400
Publisher: Simon & Schuster
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: April 1, 1996
Klaus (Weathering Winter, not reviewed, etc.) retired not long ago from the University of Iowa, where for many years he taught the art and craft of the personal essay and journal writing. No surprise, then, that he presents a diary of his musings about his retirement. At age 65, as the title says, he took retirement (rather than be given it, unasked for, as often happens). It was a difficult transition, despite the comfortable retirement fund. He had old, thin skin, comparing himself to graybeards, geezers, and others in their golden years. Leaving the warm bosom of collegial togetherness did not appeal, and the thought of abandoning the classroom filled him with anxiety. It seemed important to retain his campus office, to retain some vestige of influence, to hang on as some sort of “consultant” (as outplaced professionals are apt to call themselves). The teacher’s identity crisis prompted him to evade a formal farewell dinner—a good move—though he did accept the dedication of a large oak tree—another good move. He was, to put it bluntly, self-absorbed and mighty introspective, finding much angst in the rituals of quotidian domestic affairs. Gardening, health, friends, writing, meditation, and menus were the subjects of his journal entries, which were scrupulously written daily, starting weeks before his last class. Then, one day, the pensioner simply didn’t shave at his accustomed hour. Then he skipped a day and made no entry in his journal. Then another. As the new school year started without the professor emeritus, he and his ever-understanding wife traveled through the Canadian Rockies. And somehow retirement didn’t seem so bad, after all. A life-altering transition is faithfully chronicled in this story of a condition that is new in the history of humanity. With academic and heartland sensibility, it’s an elegy perhaps not as universal as the author envisioned, but quite suitable for more than the Modern Maturity and Elderhostel crowd.
Pub Date: Sept. 20, 1999
ISBN: 0-8070-7218-4
Page Count: 248
Publisher: Beacon Press
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: July 15, 1999
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