June 29, 2004

New York — Journalists from across the nation gathered last night at The Plaza in New York City for the 2004 Gerald Loeb Awards Banquet, celebrating the best of business, financial and economic journalism. The Loeb Awards, considered among the highest honors in journalism, recognize those journalists whose contributions to the industry illuminate the world of business and finance for readers and viewers around the world.

Bruce Willison, dean of UCLA Anderson School of Management and chairman of the G. and R. Loeb Foundation, welcomed Loeb Awards honorees and their guests. Lou Dobbs, anchor and managing editor of CNN’s “Lou Dobbs Tonight” and a Loeb Awards final judge, served as the master of ceremonies.

The Loeb Awards gives two special awards for career contributions, the Lifetime Achievement Award, which was given to Louis Rukeyser, economic commentator and financial adviser and the host of CNBC’s “Louis Rukeyser’s Wall Street,” and the Lawrence Minard Editor Award, which went to Michael Siconolfi, senior editor, financial investigative projects of The Wall Street Journal. In addition, there are 10 competition categories in which the winners were named at the banquet. Following is the list of 2004 Loeb Awards recipients, along with brief synopses of their award-winning work.

Large Newspaper Winner
David B. Ottaway and Joe Stephens of The Washington Post for “Big Green,” a beautifully written, well documented and scrupulously fair series that took on an icon, exposing greed and wrongdoing in a place no one expected to find it and producing a Congressional investigation.

Medium Newspaper Winner
Fred Schulte of the South Florida Sun-Sentinel for “Drugging the Poor.” Fulfilling a classic mission of newspapers by giving a voice to the problems of the underclass, these articles exposed how a group of doctors prescribed huge amounts of narcotic painkillers to low-income people on Medicaid.

Small Newspaper Winner
Kate Long of The Charleston Gazette for “Everybody at Risk,” which highlighted a severe national problem, bringing it to life with real people and concluding with an especially compelling look at what many people see as a possible solution to the health insurance mess.

Magazine Winner
Aaron Bernstein, Pete Engardio and Manjeet Kripalani of BusinessWeek for “Is Your Job Next / The Rise of India,” an engaging presentation that opened the raging debate on offshoring, exploring it completely on topics ranging from the political and economic fallout to the upsides for business and downsides for workers.

Commentary Winner
Michael Hiltzik of the Los Angeles Times for “Golden State” columns that are smart, angry, and sometimes, laugh out-loud funny, tackling complex subjects in a lively accessible style with a strong voice and a real sense of being on the reader’s side..

Deadline Writing Winner
Susanne Craig, Ianthe Jeanne Dugan, Theo Francis and Kate Kelly of The Wall Street Journal for “The Day Grasso Quit as NYSE Chief,” reporting on one of the most important business stories of the year, the submission provided a richness in detail, color and excellent context.

Beat Writing Winner
J. Lynn Lunsford, Andy Pasztor and Anne Marie Squeo of The Wall Street Journal for “A Spotlight on Boeing’s Legal and Ethical Scandals,” leading the coverage of the government probes and guiding the investigations down different avenues, the stories in this package were powerfully written, rich in detail and defined solid beat reporting.

News Services or Online Content Winners
Two winners were announced in this category: Adrian Cox, David Evans and Abhay Singh of Bloomberg News for “The Flimflam Man,” in a fascinating look at the risky world of high-stakes trading and the anything-goes atmosphere of the boom years, this is a reportorial tour de force thoroughly documented at every turn on a crime that stands out even in this age of outrageous corporate scandals.

Chris Adams and Alison Young of the Knight Ridder Washington Bureau for “Risky Rx,” quantifying the extent of off-label prescribing of drugs and vividly showing its sometimes-lethal consequences, this series is a stand out by virtue of its extremely high public service value, including arming readers with excellent consumer information.

Short Form Television Winner
Doug Adams, Christiana Arvetis, Donna Bass, Steve Capus, Joo Lee, Karen Nye, Albert Oetgen, Felicia Patinkin, John Reiss, Charles Schaeffer, Nikki Stamos and Anne Thompson of NBC Nightly News for “The Jobless Recovery,” the economy was unable to crank out enough jobs for millions of American seeking them last year, and through this balanced, well written, photographed and edited examination, viewers felt empathy and pain for the jobless from college kids to seasoned white-collar males.

Long Form Television Winner
Rome Hartman and Lesley Stahl of CBS News “60 Minutes” for “Imported from India,” unique in tackling a subject of such economic impact in a foreign country, this informative and thorough investigation looks at what it means to India to have many of its top graduates abandon their country for leadership positions in a number of Blue Chip American corporations.

The table sponsors of the 2004 Loeb Awards are as follows:

Golden Circle Patrons
Bloomberg News

Dobbs Group

Smith Barney
USA Today
The Wall Street Journal

UCLA Anderson School of Management

Silver Sponsors
CBS News
NBC News

Loeb Associates Sponsors
Financial Times
General Electric
Los Angeles Times
U.S. News & World Report
The Washington Post

A gift bag was given to all attendees at the Loeb Awards banquet with contributions from the following sponsors:

Business Wire (the gift bag itself)
Helen Grace Chocolates (a bar of fine chocolate)
Museum of American Financial History (an original antique stock certificate)
Piping Rock Natural Spring Water (a bottle of water)
Simon & Schuster Inc. (“Orange Crushed,” the third in the Ivy League Mystery series by Pamela Thomas-Graham)
UCLA Anderson School of Management (an elegant pen)
USA Today (a spiral bound notepad)

The Loeb Awards included a career development seminar exclusively for the 2004 Loeb Awards finalists. The event was held on Sunday, June 27, 2004, and was hosted by the New York Stock Exchange (NYSE). It featured two presentations, “Making History: Exploring the Scope of Change in the Securities Industry and the NYSE” by Catherine R. Kinney, president and co-chief operating officer of the NYSE, and “Sources: Should We Bite the Hand that Feeds Us?” by Minard Editor Award recipient Michael Siconolfi of The Wall Street Journal.

Established in 1957 by Gerald Loeb, a founding partner of E.F. Hutton, the Loeb Awards recognize journalists who have made significant contributions to the public’s understanding of business, finance and the economy. 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 School of Management has presented the awards since 1973.

For more information about the Loeb Awards, please visit the Loeb Awards web site or call the Loeb Awards office at (310) 206-1877.

Media Relations