June 01, 2001

Los Angeles — The winners and finalists of the 2001 Gerald Loeb Awards for Distinguished Business and Financial Journalism were announced today by Bruce G. Willison, chairman of the G. and R. Loeb Foundation, Inc. and dean of UCLA Anderson. Among the highest honors in the journalism profession, these prestigious awards recognize members of both print and broadcast media for significant contributions to the profession of business journalism.

The 2001 Lifetime Achievement Award will be given to Allan Sloan, Wall Street editor of Newsweek magazine, Willison announced. The annual award honors a journalist whose career exemplifies the consistent and superior insight and professional skills necessary to contribute to the public's understanding of business, finance and economic issues.

The winners and finalists, selected from a record-high number of entries, for the 2001 Loeb Awards in the print and broadcast media categories are as follows:

The winners in the large newspaper category (circulation of more than 400,000) are the staff of the Orange County Register for "The Body Brokers," a shocking exposé of the for-profit sale of body parts, a $500 million industry.

Also nominated as finalists in this category are: Alix M. Freedman and Steve Stecklow for "Formula for Disaster," which examined the controversy over the use of baby formula versus breast feeding in impoverished and HIV-AIDS ridden areas of Africa, in the Wall Street Journal; David Cay Johnston for "Artful Dodgers," his investigative reporting into the abuses of the tax laws, which led to legislative efforts to modify them, in the New York Times; Jeff Gerth, Donald G. McNeil and Sheryl Gay Stolberg for "The Medicine Merchants," reporting that revealed the human face of the conflicting demands of profit and health in drugs for developing countries, in the New York Times; the staff of the Los Angeles Times for "Asleep at the Wheel," showing how sealed court settlements prevented the public from learning about the product defects in the Firestone/Ford tire disasters; and Keith Bradsher for "The Trouble with SUVs," linking the design of the Ford Explorer to the Firestone Tire problems, in the New York Times.

The winners in the medium newspaper category (circulation between 150,000 and 400,000) are Robert Sargent, Ramsey Campbell, Jim Leusner and Sean Holton for "Government Inc.," their series of articles examining how a little-known Florida law allowed private developers to profit at the expense of homeowners, in the Orlando Sentinel.

Also nominated as finalists in this category are: Matthew Kauffman and Andrew Julien for "Medical Research: Can We Trust It?" showing how companies influence the results of the studies they fund, in the Hartford Courant; James Long and Jeff Manning for "Fall of Capital Consultants," a news-breaking series exposing a consultant's intricate mismanagement of pension funds and its impact on ordinary workers, in the Oregonian; Karen Weintraub, Dennis O'Brein and Linda McNatt for "Global Trade-Offs," explaining the impact global trade has on average citizens, in the Virginian Pilot; and Fred Schulte and Jenni Bergal of the Sun Sentinel for "Crashing for Cash," their in-depth investigation of insurance fraud that successfully fleeces the system.

The winner in the small newspaper category (circulation of less than 150,000) is Bruce Rushton for "Porn in the USA," an in-depth examination of the lucrative flesh trade that raised questions about its ties to legitimate business, in the Riverfront Times.

Also nominated as finalists in this category are: the staff of the Cape Cod Times for "Crisis at Our Doorstep," addressing the increasing gap between the rich and poor on the Cape; Bob Burtman for "Paying the Price" and "Pumped Dry," insightful stories explaining the various pressures oil companies put on local station dealers, in the Houston Press; and Jonathan Shikes for "Where the Buffalo Moan," his story detailing the niche industry of bison production, in Westword.

The winner in the magazine category is Gary Rivlin for "AOL'S Rough Riders," the story of the tough negotiation practices of one of the world's most powerful companies, in The Industry Standard.

Also nominated as finalists in this category are: Jim Morris for "At the End of the Rope," a report on safety concerns about America West and questioning the ability of the FAA to protect the public, in U.S. News and World Report; Jon Birger for "Glowing Numbers," a cautionary tale for investors about the reliability of financial reports and earnings management practices of the giant General Electric, in Money magazine; and Jack Willoughby for "Burning Fast," an analysis of the collapse of the Internet companies, which focuses on how cash outflow affects these companies, in Barron's.

The winner in the commentary category is Floyd Norris for his insightful columns educating investors about the complexities of Wall Street, in the New York Times.

Also nominated as finalists in this category are: Clive Crook for sophisticated yet readily understandable editorials on economic issues in the political arena, in the National Journal; Allan Sloan for his financial columns, including in-depth analysis of the Gore and Bush budgets, in Newsweek magazine; Robert Barker for editorials warning investors of potential risks with investment analysis, in Business Week; and Graef Crystal for columns detailing the intricacies of executive compensation, which reveal the enormous amounts of money paid CEOs, for Bloomberg News.

The winner in the deadline/beat writing category is Rebecca Smith for "Juice Squeeze," her ahead-of-the-pack reporting on the impending crisis in the energy industry, in the Wall Street Journal.

Also nominated as finalists in this category are: the staff of Dow Jones Newswires for their thoroughly researched breaking story on the AOL/Time Warner merger; David Cay Johnston for "Artful Dodgers," his expert analysis of the tax issues, including loopholes in the code and the vulnerabilities of the system itself, in the New York Times; and Gretchen Morgenson for "Many Holes Weaken Safety Net for Victims," her rigorous but thoroughly readable reporting on investing, in the New York Times.

The winners in the television category are Lynne Dale and John Larson for "The Paper Chase," their in-depth probe of questionable insurance industry practices of a major carrier, which confirms some of consumers' worst fears, for Dateline NBC.

Also named as finalists in this category are: Byron Harris, Gary Ultee, John Pronk and Jesus Hernandez for "International Con Man," their compelling and thorough investigation, for WFAA-TV; Rubert Krulwich for "The Business of Hip Hop," his imaginative exploration of a world very unfamiliar to the general public, for ABC News Nightline; and Sophia Faskianos for "Net Worth," her innovative look at three dot-com players in the throws of the high-tech frenzy, also for Dateline NBC.

The winner in the radio category is Ed Wallace for "The 100 Greatest Events in the History of the Automotive Industry," his creative use of the medium to showcase the legacy of the automotive industry in America, on KLIF-AM.

Also named as finalists in this category are: Janet Babin for "Merchant Power Plan Proposals Create Static," her early reporting on the role of the merchant power plants associated with the energy deregulation crisis, on Indiana Public Radio; Deborah Clark for "Marketplace on the Road," her program on the impact of global trade on a small town in the American heartland, on Minnesota Public Radio; and John Biewen and Deborah George for "Engineering Crops in a Needy World," which addresses the controversy surrounding the use of genetically engineered seeds, also on Minnesota Public Radio.

The Loeb Awards preliminary (finalist) selections were made by 32 preliminary judges representing the media and academia. The winners were selected by a distinguished panel of final judges: Soma Golden Behr, assistant managing editor, the New York Times; Rance Crain, president and editorial director, Crain Communications, Inc.; John Huey, editor, Fortune; Robert G. Kaiser, associate editor, the Washington Post; Lawrence Minard, editor, Forbes Global; Mark Morrison, managing editor, Business Week; Paul Steiger, managing editor, the Wall Street Journal; Richard Wald, consultant, ABC News; and Bruce G. Willison, dean, UCLA Anderson.

Established in 1957 by Gerald Loeb, the awards recognize writers who have made significant contributions to the public's understanding of business and financial issues. The judges select winners based on quality of reporting and writing, news and analytical value, originality and exclusivity, and in the broadcast categories only, production value and visual impact. UCLA Anderson has administered the awards since 1973.

The 2001 Gerald Loeb Award winners and finalists, as well as the Lifetime Achievement Award recipient, will be honored at an awards banquet on Monday, June 25, 2001, at the Four Seasons Hotel in Beverly Hills, California. For more information, please call the Loeb Awards office at (310) 206-1877.

Media Relations