Business Journal Receives Honors for Three Stories

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The main professional organization of business news editors has given the Los Angeles Business Journal three awards – the most the newspaper has ever received in one year from the group.

The Business Journal competed with other business weekly newspapers and won in the categories of best investigative article, best explanatory story and best feature.

The organization is the Society of American Business Editors and Writers, commonly called Sabew. Members are mainly business news sections of daily newspapers including the Los Angeles Times, business wire services such as Bloomberg News and business magazines including Fortune.

The Business Journal’s winners:

• “FirstFed’s Fault Lines” by Richard Clough won in the investigative category. The article, published March 29 of last year, detailed how FirstFed Financial Corp. was closed in late 2009 even though regulators had said it had more time to right itself. It is the second Sabew award for Clough, the Business Journal’s banking and finance writer.

• “Stem Cells Take Root in Koreatown” by Alfred Lee won in the explanatory category. The article, published in the Nov. 15 issue, explained how a storefront in a Koreatown mall was selling still-experimental stem cell treatments to the public. Lee covers law firms and legal affairs for the Business Journal.

• “Cornering Downtown” by Daniel Miller won in the feature category. The article, published July 26, profiled the reclusive and litigious downtown L.A. real estate developer Barry Shy. Miller is the Business Journal’s former real estate writer.

Two other publications in Southern California won prizes from the society of business editors. The Orange County Register won two and the Times’ business section won in the important category of general excellence.

Winners were announced March 18 and 21. The awards will be presented April 9 in Dallas at Sabew’s annual conference.

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