Toledo/jan4/mark1st/dt2nd
By MATTHEW A. TOLEDO
As the Los Angeles Business Journal enters a new year, and our 20th year of publication, I feel a tremendous sense of pride about our accomplishments over the past 12 months.
First and foremost, we continue to be L.A.’s best source for local business news widely quoted and respected throughout the Los Angeles region. I’m convinced that a big part of that success is based on our ability to present a tremendous amount of information in an interesting and even entertaining way.
Discerning readers will notice that we have made significant changes over the last several years without, I hope, shaking up the bottle too much. That is a testament to our talented editorial team, led by Editor Mark Lacter, that not only reports the news, but also lays out the reasons why we should care. This is what we do best this is how we stand out from the competition.
In scanning the past 53 issues, there have been so many highlights: Our insightful look at income disparities in Los Angeles as part of the annual Richest Angelenos issue; the imaginative “15 Whys of L.A.” that examined the many social and economic contradictions of our community; the thoughtful analyses into redevelopment activity in Hollywood and downtown; the ongoing coverage of charter reform, education, organized labor and other critical issues that will be affecting Los Angeles well into the 21st century; the always-informative special reports on real estate, banking and finance, and health care; and the Who’s Who packages that profile some of L.A.’s most interesting and important people. And of course, there are the weekly lists that, year after year, remain one of our most popular features.
Our philosophy is simple: We recognize the importance of business in this community, but we never shirk from our responsibility to report the news as we see it good or bad.
It’s especially gratifying that our efforts have been rewarded in several ways:
? Awards: The Business Journal was named one of the nation’s top five business weeklies by the Society of American Business Editors and Writers. We also received five awards from the Association of Area Business Publications, including most improved publication, best in explanatory journalism, and runner-up in the general excellence category.
? Circulation: Our paid circulation grew by more than 14 percent in 1998, an extraordinary showing for a business newspaper, and reflecting not only the consistency and quality of our product, but the hard work and dedication of Circulation Director Michael Jordan and his staff.
? Advertising: The Business Journal had another record year in advertising revenues, thanks to the efforts of Director of Advertising and Marketing Maria Flannigan and her staff. Maria also played an important role in overseeing the numerous events that the Business Journal put on in 1998, including the Real Estate Awards and the Fastest Growing Private Companies reception.
Helping make all this happen is a tireless support staff that includes Director of Production Dan Etcheverry, who works with Mark Lacter on the editorial product each week (in addition to preparing our annual Book of Lists and advertising supplements throughout the year); and Controller Mark Freedman, who was charged in 1998 with coordinating the installation of two separate computer systems, in addition to his regular administrative duties. I thank them and their staffs.
The year also included the stepped-up frequency of our sister publication, the San Fernando Valley Business Journal. Now published every other week, it has been a pleasure to watch the steady improvement in the news product over the past year. I especially look forward to 1999.
There is, of course, a gap between where are now and where we want to be. Complacency is simply not part of our make-up. And yet, I consider myself fortunate in running an organization that has so many people committed to excellence. That has been, and will continue to be, a big reason for our success.
There is another ingredient: Having a vibrant, exciting business community.
It would be hard to imagine a better place to run a business newspaper than Los Angeles, especially over the last few years. There is no secret to the region’s recent growth: It centers on the thousands of hard-working entrepreneurs who help fuel our economy. They are not necessarily household names, but they play a huge role in giving L.A. its vitality.
The Business Journal is committed to recognizing their efforts in our news pages. Their stories are what make our product so compelling each and every week.
Matthew A. Toledo is publisher and president of the Los Angeles Business Journal.
