Reshaping the Financial Times' newsroom for the Credit Crisis - Interview with Managing Editor, Daniel Bogler
The Editors Weblog
spoke to the Managing Editor of the FT
, Daniel Bogler
(left), about his
views on the coverage and how his
newspaper reacted as the crisis unfolded.
agreed with the City's negative view on some of the mainstream media's coverage, saying, "It's unfortunate that the financial literacy and understanding of how things work in the City and of basic accounting and so on, is actually very thin in financial journalism.
, because we are a financial newspaper, take the stuff a lot more seriously.
We hire people from the City... and also spend a lot of time, effort and money on training our people."
Rethinking the layout
reported that one of the key things the FT
did when the magnitude of the story unfolding became clear was rethink the entire layout of the paper.
To ensure that the FT
provided enough space to deliver comprehensive coverage, it cleared the first four pages of previously planned stories and bumped them further inside.
This shift in focus did result in other key news getting squeezed, but this highlights the newspapers keen news judgement on the significance of what was unfolding on trading screens throughout the world.
The bar for a story to get onto the front page was suddenly raised.
said that not only did the FT
clear the first four pages, but it also redesigned the front page to emphasise and reflect the newspaper's focused coverage.
Bogler reported that the news editor and reporters around the world "shaped these pages relatively quickly."
When asked about the FT
's competition, Bogler
said, "Its unfortunate perhaps for the Wall Street Journal
, having just been bought by Murdoch, that they have switched their interest to general news, political news and focusing on US politics at a time when US politics is just not the story.
We have looked a bit more nimble."
Responsibility and ethics
Reflecting on this fast-changing story, the media coverage it has received, and the perceived "sensationalist" angle taken by other papers, Bogler
is aware of the added pressure on the FT
, "We do have an extra responsibility and we take it very seriously.
We do not 'fan the flames' of the crisis."
went on to say, "It is in the nature of newspapers to write the most dramatic headline, the most dramatic copy and have the most dramatic picture, so you have impact on your readers.... this irresponsibility is kind of bred into the industry.