May 10, 2004

Los Angeles — Bruce G. Willison, chairman of the G. and R. Loeb Foundation Inc. and dean of UCLA Anderson School of Management, today announced the finalists of the 2004 Gerald Loeb Awards for Distinguished Business and Financial Journalism. He also announced the recipients of the Lifetime Achievement Award and the Lawrence Minard Editor Award.

UCLA Anderson School of Management has presented the Loeb Awards, which are the highest honors in business journalism, since 1973. The Loeb Awards recognize writers, editors and producers of both print and broadcast media for significant contributions they make to business, financial and economic journalism.

The 2004 Lifetime Achievement Award recipient is Louis Rukeyser, economic commentator and financial adviser and host of "Louis Rukeyser's Wall Street" on CNBC. This annual award recognizes an individual whose career exemplifies the consistent and superior insight and professional skills necessary to further the understanding of business, financial and economic issues.

Michael Siconolfi, senior editor for financial investigative projects of The Wall Street Journal, will receive the 2004 Lawrence Minard Editor Award, named in memory of Laury Minard, founding editor of Forbes Global and a former final judge for the Loeb Awards. This award honors excellence in business, financial and economic journalism editing and recognizes an editor whose work does not receive a byline or whose face does not appear on the air for the work covered.

Rukeyser and Siconolfi will receive their career achievement awards at the Loeb Awards banquet and presentation ceremony, at which the 2004 Loeb Award winners in the 10 competition categories will be announced. The event will be held Monday, June 28, 2004, at The Plaza in New York City. Lou Dobbs, anchor and managing editor of CNN’s “Lou Dobbs Tonight,” will serve as master of ceremonies. Business Wire will be the sponsor for this year’s gift bags at the event.

“The finalists in this year’s Loeb Awards were selected from a record number of entries,” said Willison. “We received a total of 394 entries, an all time high.”

The finalists for the 2004 Loeb Awards in the print and broadcast categories are as follows:

Large Newspapers Category
The finalists in the large newspapers category (circulation of more than 400,000) are:

David B. Ottaway and Joe Stephens for “Big Green” in The Washington Post
David Willman for “Stealth Merger: Drug Companies and Government Medical Research” in Los Angeles Times
Lucette Lagnado for “The Hidden Injustices of Hospital Bills” in The Wall Street Journal
The Wall Street Journal Staff for “Exposing Scandals at the Big Board” in The Wall Street Journal
The New York Times Financial Staff for “Fixing Medicare” in The New York Times

Medium Newspapers Category
The finalists in the medium newspapers category (circulation between 150,000 and 400,000) are:

Fred Schulte for “Drugging the Poor” in South Florida Sun-Sentinel
Clint Riley for “Banking on Your Money” in The Record
Matthew Kauffman and Kenneth R. Gosselin for “Credit Trap” in The Hartford Courant
Jeffrey Meitrodt and Aaron Kuriloff for “Shell Game” in The Times-Picayune
Dan Tracy for “Building Homes: Building Problems” in Orlando Sentinel

Small Newspapers Category
The finalists in the small newspapers category (circulation of less than 150,000) are:

Charles B. Camp for “Behind an OxyContin Crisis” in Lexington Herald-Leader
Andrea Tortora for “Heart Divided” in Cincinnati Business Courier
Andi Esposito, Lisa Eckelbecker, Bob Kievra and Jim Bodor for “Men Not Working” in Worcester Telegram & Gazette
S. Lynne Walker for “Reflection of a Changing America” in The State Journal-Register
Kate Long for “Everybody at Risk” in The Charleston Gazette

Magazines Category
The finalists in the magazines category are:

Pete Engardio, Manjeet Kripalani, Aaron Bernstein for “Is Your Job Next?/The Rise of India” in BusinessWeek
Rod Nordland, Michael Hirsh and team for “The $87 Billion Money Pit” in Newsweek
Paul Kaihla for “The Coming Job Boom” in Business 2.0
Megan Barnett, Julian E. Barnes and Danielle Knight for “Big Money on Campus” in U.S. News & World Report

Commentary Category
The finalists in the commentary category are:

Amity Shlaes for “Commentary Columns” in Financial Times
Michael Hiltzik for “Golden State” in Los Angeles Times
Andrés Martinez for “Harvesting Poverty” in The New York Times
Froma Harrop for “Editorial Writer” in The Providence Journal

Deadline Writing Category
The finalists in the deadline writing category are:

Kate Kelly, Susanne Craig, Ianthe Jeanne Dugan and Theo Francis for “The Day Grasso Quit as NYSE Chief” in The Wall Street Journal
Stanley Holmes for “Boeing: What Really Happened” in BusinessWeek
Steve Bailey, Steven Syre and Andrew Caffrey for “Financial Services” in The Boston Globe
Malgorzata Halaba, David McQuaid and Marek Strzelecki for “Exposing Wrongdoing at State-Run Polish Companies” on Dow Jones Newswires

Beat Writing Category
The finalists in the beat writing category are:

Anne Marie Squeo, Andy Pasztor and J. Lynn Lunsford for “A Spotlight on Boeing’s Legal and Ethical Scandals” in The Wall Street Journal
David Leonhardt for “A Sampling of Articles” in The New York Times
Ellen E. Schultz and Theo Francis for “Hidden Roots of the Pension Crisis” in The Wall Street Journal
Mary Williams Walsh for “The Coming Crisis” in The New York Times
Greg Ip for “Unraveling the Mysteries of the Fed and the Economy” in The Wall Street Journal

News Services or Online Content Category
The finalists in the news services or online content category are:

David Evans, Abhay Singh and Adrian Cox for “The Flimflam Man” on Bloomberg News
Alison Young and Chris Adams for “Risky Rx” on Knight Ridder Washington Bureau
Troy Wolverton for “eBay Beats the Corporate Reformers” on
Susan Ferriss for “Broken Promises: How Economic Reforms Have Failed Mexico” on Cox News Service

Television: Short Form Category
The finalists in the short form television category are:

Frederick Griffith, Jeffrey Pohlman, et al for “CNBC in India” on CNBC
Scott Cohn, Mary Thompson, et al for “Funds Under Fire” on CNBC
Anne Thompson et al for “The Jobless Recovery” on NBC Nightly News
CBS Evening News for “Hispanic in America” on CBS Evening News, Weekend Edition

Television: Long Form Category
The finalists in the long form television category are:

Paul Solman and Lee Koromvokis for “Jobless Recovery Series” on The NewsHour with Jim Lehrer/PBS
Paul Solman and Lee Koromvokis for “Mutual Funds Fraud” on The NewsHour with Jim Lehrer/PBS
Lesley Stahl and Rome Hartman for “Imported from India” on CBS News “60 Minutes”
Kelly Sutherland for “Where’s My Stuff?” on Dateline NBC

The judges select finalists and winners based on quality of reporting and writing, news and analytical value, originality and exclusivity, and in the broadcast categories, production value and visual impact. Forty-nine preliminary judges representing academia and a broad spectrum of major media chose this year’s finalists. The winners are then determined by the distinguished panel of final judges:

Lionel Barber, U.S. managing editor, Financial Times
Lou Dobbs, anchor and managing editor, “Lou Dobbs Tonight,” CNN
Steve Forbes, president and editor-in-chief, Forbes
Soma Golden Behr, assistant managing editor, The New York Times
John Hillkirk, managing editor, Money section, USA Today
Robert G. Kaiser, associate editor, The Washington Post
Rik Kirkland, managing editor, Fortune
Mark Morrison, managing editor, BusinessWeek
Allan Sloan, Wall Street editor, Newsweek
Paul E. Steiger, vice president and managing editor, The Wall Street Journal
Pamela Thomas-Graham, president and chief executive officer, CNBC
Richard C. Wald, consultant, ABC News
Bruce G. Willison, dean, UCLA Anderson School of Management
Matthew Winkler, editor-in-chief, Bloomberg News

The Loeb Awards were established in 1957 by Gerald Loeb, a founding partner of E.F. Hutton, to encourage quality reporting in the areas of business, finance and the economy in order to inform and protect investors and the general public.

Media Relations