Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week. The magazine is well-known for its lists, including its lists of the richest Americans (the Forbes 400) and its list of billionaires. The motto of Forbes magazine is "The Capitalist Tool." Its editor-in-chief is Steve Forbes.
Company history
B. C. Forbes, a financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street,[1] founded Forbes magazine in 1917.[2] Forbes provided the money and the name and Drey provided the publishing expertise. The original name of the magazine was Forbes: Devoted to Doers and Doings.[1] Drey became vice-president of the B.C. Forbes Publishing Company,[3] while B.C. Forbes became editor-in-chief, a post he held until his death in 1954. B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Stevenson Forbes (1917–1990).
Bruce Forbes took over on his father's death, and his strengths lay in streamlining operations and developing marketing.[2] During his tenure, 1954–1964, the magazine's circulation nearly doubled.[2]
On Malcolm's death, his eldest son Malcolm Stevenson "Steve" Forbes Jr. (1947–) became President and Chief Executive of Forbes and Editor-in-Chief of Forbes magazine.[4] Between 1961 and 1999 the magazine was edited by James Michaels.[5] In 1993, under Michaels, Forbes was a finalist for the National Magazine Award.[6] In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company.[4][7] A 2009 New York Times report said: "40 percent of the enterprise was sold ... for a reported $300 million, setting the value of the enterprise at $750 million. According to Mark M. Edmiston of AdMedia Partners, 'It’s probably not worth half of that now.'"[8]
Other publications
Apart from Forbes and its lifestyle supplement, Forbes Life, other titles include Forbes Asia and fifteen local language editions. Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes On Radio. Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From the 2009 Times report: "Steve Forbes recently returned from opening up a Forbes magazine in India, bringing the number of foreign editions to 10. In addition, this year the company began publishing ForbesWoman, a quarterly magazine with a companion Web site."[8]
The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes as of May 14, 2007.[9]
The company also formerly published American Heritage and Invention & Technology magazines. After failing to find a buyer, Forbes suspended publication of these two magazines as of May 17, 2007.[10] Both magazines have since been purchased by the American Heritage Publishing Company, and have resumed publication as of Spring 2008.[11]
Forbes.com
David Churbuck founded Forbes' Web site in 1996. The site uncovered Stephen Glass' journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism. At the peak of media coverage of alleged Toyota sudden unintended acceleration in 2010 it exposed the California “runaway Prius” as a hoax, as well as running five other articles by Michael Fumento challenging the entire media premise of Toyotas suddenly gone bad. The site, like the magazine, publishes many lists focusing on billionaires and their possessions, especially expensive homes, a critical aspect of the website's apparent popularity.[12]
Forbes.com employs the slogan "Home Page For The World's Business Leaders" and sometimes claims to be the world's most widely visited business web site.[13]
The company's current chief executive officer is Mike Perlis; the current chief product officer is Lewis D'vorkin; the current editor of the magazine is Randall Lane.
Forbes.com now employs a new slogan – "Information for the World's Business Leaders". According to Forbes.com, the Web site is among the most trusted resources for senior business executives, providing them the real-time reporting, uncompromising commentary, concise analysis, relevant tools and community they need to succeed at work, profit from investing and have fun with the rewards of winning.
Forbes.com also publishes subscription investment newsletters, and an online guide to web sites, Best Of The Web.
Forbes.com is part of Forbes’ Digital, a division of Forbes Media LLC. Forbes.com and affiliated properties include:
Together these sites reach more than 27 million unique visitors each month.
The 2009 Times report said that, while "one of the top five financial sites by traffic [throwing] off an estimated $70 million to $80 million a year in revenue, [it] never yielded the hoped-for public offering."[8]
Sale of headquarters to New York University
In January 2010, Forbes reached an agreement to sell its headquarter building located on Fifth Avenue in Manhattan to New York University. Terms of the deal were not publicly reported, but Forbes will continue to occupy the space under a five year sale-leaseback arrangement.[14]
In popular culture
The popularity of Forbes magazine has extended to mainstream and Hip-Hop culture. 50 Cent has released the official remix to his hit single, "I Get Money" off his September 11, 2008 album, Curtis, entitled Forbes 1,2,3 (also known as the "Billion Dollar Remix"). The title of the song comes from the fact that Jay-Z, 50 Cent, and Diddy were listed as Forbes' Top 3 money-making Kings of Hip-Hop, respectively. The unfinished video for Forbes 1,2,3 can be seen as the intro to 50 Cent's single, "I Still Kill" featuring Akon, off his multi-platinum album Curtis. As well, in the song "Billionaire" by Travie McCoy feat. Bruno Mars, it mentions being on 'the cover of Forbes magazine, smilin' next to Oprah and the Queen'.
Lists
Wealth:
- Australia & New Zealand's 40 Richest [1]
- China's 400 Richest [2]
- Hong Kong's 40 Richest [3]
- India's 100 Richest [4]
- Indonesia's 40 Richest [5]
- Japan's 40 Richest [6]
- Korea's 40 Richest [7]
- Malaysia's 40 Richest [8]
- Philippines 40 Richest [9]
- Singapore's 40 Richest [10]
- Taiwan's 40 Richest [11]
- Thailand's 40 Richest [12]
- The 400 Richest Americans [13]
- The World's Billionaires [14]
Companies:
- 100 Best Small Companies [15]
- 400 Best Big Companies [16]
- America's Largest Private Companies [17]
- Asia's Best Under A Billion [18]
- Asia's Fab 50 Companies [19]
- Global High Performers [20]
- The Forbes 2000 [21]
- Top Micro finance Institutions [22]
People:
- All-Star Student Entrepreneurs [23]
- 48 Asian Altruists [24]
- The Best Brokerage Analysts [25]
- The Celebrity 100 [26]
- The Forbes Fictional 15 [27]
- The World's Most Powerful Women [28]
- The World's Top-Earning Models [29]
- Top Earning CEO's [30]
- Top-Earning Dead Celebrities [31]
- Top 30 Under 30 [32]
Money & Investing
- International Investing [33]
- Mutual Fund Guide [34]
- The 100 Best Mid-Cap Stocks [35]
- The 200 Largest U.S. Charities [36]
- The Best Brokerage Analysts [37]
- The Investment Guide [38]
Places
- America's Best Colleges [39]
- Best Business Schools [40]
- Best Cities For Singles [41]
- Best Countries For Business [42]
- Best Places For Business And Careers [43]
- Most Expensive ZIP Codes [44]
- The Best States For Business [45]
Sports
- Most Valuable Sports Teams [46]
- Most Valuable NASCAR Teams [47]
- Most Valuable Soccer Teams [48]
- The Business Of Baseball [49]
- The Business Of Basketball [50]
- The Business Of Football [51]
- The Business Of Hockey [52]
- Top-Paid Tennis Stars [53]
Technology
- Tech's Top Deal Makers [54]
- The 25 Fastest-Growing Tech Companies [55]
- The E-Gang [56]
- The Web Celeb 25 [57]
Education
- America's Best College Buys [58]
- America's Best Colleges [59]
- Best Business Schools [60]
Entertainment
- The Best-Paid Celebs Under 30 [61]
Food and Drink
- India’s Fine Wine Hotspots [62]
- Ten Bordeaux and California Reds Head-to-Head [63]
- Ten Great Unfiltered Wines to Try [64]
- The World’s Most Coveted Champagnes [65]
- Top-Earning Celebrity Chefs [66]
- World’s Most Expensive Fast Food [67]
Health
- America’s Fittest Cities [68]
- America’s Most Polluted Cities [69]
- Eleven Way to Boost Your Energy [70]
- Ten Meals You Should Memorize [71]
- The Healthiest Foods on Earth [72]
- The World’s Diet Secrets [73]
Real Estate
- America’s 25 Best Places to Move [74]
- America’s Fastest-Falling Cities [75]
- America’s Most Expensive Zip Codes [76]
- America’s Most Congested Cities [77]
- America’s Top 25 Towns to Live Well [78]
- America’s Top-Selling Luxury Neighborhoods [79]
- America’s Thriftiest Cities [80]
- U.S. Cities Where It’s Hardest to Get By [81]
- World’s 20 Best Places to Live [82]
Style
- Most Powerful U.S. Fashion Magazine Editors [83]
- Sneaky Ways You’re Lured to Shop [84]
- Spa Treatments Too Bizarre To Believe [85]
- What Your Dog Says About You [86]
- Winter Gear Worth the Buck [87]
- World’s Most Expensive Cities to Live [88]
- World’s Most Powerful Luxury Brands [89]
- World’s Most Stylish Cities [90]
Travel
- Deluxe Designer Hotels [91]
- Hidden Treasures of the Middle East [92]
- Travel Etiquette in the World’s Most Visited Countries [93]
- Wallet-Friendly Last-Minute Getaways [94]
- World’s 10 Best Airports [95]
Vehicles
- 2009’s Fastest Cars Under $100,000 [96]
- America’s Most Overpriced Cars [97]
- America’s Most Popular Car Colors [98]
- Best Cars for Suburban Drivers [99]
- Best Convertibles of 2009 [100]
- Highest Quality Cars of 2009 [101]
- Most Affordable 2009 Vehicles [102]
- Ten Cars That Changed the World [103]
- Toughest Cars on the Road [104]
- World’s Most Expensive Commutes [105]
Notes
- ^ a b "Notes of a Business Quizzer: Forbes" (July 6, 2007)
- ^ a b c Gorman, Robert F. (ed.) (2007) "September 15, 1917: Forbes Magazine is founded" The Twentieth Century, 1901–1940 (Volume III) Salem Press, Pasadena, California, pp.1374–1376, p. 1375, ISBN 978-1-58765-327-8
- ^ Commerce and Industry Association of New York (November 18, 1922) "The Association Prepares for New Demands: The Volunteer Workers" Greater New York: Bulletin of the Merchants' Association of New York Commerce and Industry Association of New York, New York, p. 6, OCLC 2447287
- ^ a b 'Forbes Announce Elevation Partners Investment in Family Held Company' Elevation Partners press release, August 6, 2006.
- ^ Pérez-Peña, Richard (October 4, 2007). "James Michaels, Longtime Forbes Editor, Dies at 86 – New York Times". The New York Times. http://www.nytimes.com/2007/10/04/business/04michaels.html. Retrieved January 5, 2008.
- ^ "National Magazine Awards Database". http://www.magazine.org/asme/magazine_awards/searchable_database/index.aspx. Retrieved January 5, 2008.
- ^ "NussbaumOnDesign Bono Buys Into Forbes, Launches Product Red in US and Expands His Brand. – BusinessWeek". http://www.businessweek.com/innovate/NussbaumOnDesign/archives/2006/08/bono_buys_into.html. Retrieved January 5, 2008.
- ^ a b c "Even Forbes is Pinching Pennies" by David Carr, The New York Times, June 14, 2009 (June 15, 2009 on p. B1 of the NY ed.). Retrieved June 15, 2009.
- ^ With The May 14 Announced Separation: Twelve-Year-Old "American Legacy"/"Forbes" Partnership Was Mutually Beneficial. Industry & Business Article – Research, News, Information, Contacts, Divisions, Subsidiaries, Business Associations
- ^ McGrath, Charles (May 17, 2007). "Magazine Suspends Its Run in History". The New York Times. http://www.nytimes.com/2007/05/17/arts/17heri.html.
- ^ AmericanHeritage.com / Thank You for Your Feedback on the American Heritage Winter 2008 Issue
- ^ "Jobs: Motley to Leave Time Inc., Plus More Job-Hopping Fun". http://www.gawker.com/news/jobs/motley-to-leave-time-inc-plus-more-jobhopping-fun-162725.php. Retrieved January 5, 2008.
- ^ Edmonston, Peter (August 28, 2006). "At Forbes.com, Lots of Glitter but Maybe Not So Many Visitors". New York Times. http://www.nytimes.com/2006/08/28/technology/28forbes.html. Retrieved May 2, 2011.
- ^ Forbes Sells Building to N.Y.U.. New York Timed Media Decoder. Retrieved on January 7, 2010.
Further reading
- Forbes, Malcolm S. (1974) Fact and Comment Knopf, New York, ISBN 0-394-49187-4; twenty-five years of the editor's columns from Forbes
- Grunwald, Edgar A. (1988) The Business Press Editor New York University Press, New York, ISBN 0-8147-3016-7
- Holliday, Karen Kahler (1987)A Content Analysis of Business Week, Forbes and Fortune from 1966–1986 Masters of Journalism thesis from Louisiana State University, Baton Rouge, 69 pages, OCLC 18772376, available on microfilm
- Kohlmeier, Louis M.; Udell, Jon G. and Anderson, Laird B. (eds.) (1981) Reporting on Business and the Economy Prentice-Hall, Englewood Cliffs, New Jersey, ISBN 0-13-773879-X
- Kurtz, Howard (2000) The Fortune Tellers: Inside Wall Street’s Game of Money, Media, and Manipulation Free Press, New York, ISBN 0-684-86879-2
- Tebbel, John William and Zuckerman, Mary Ellen (1991) The Magazine in America, 1741–1990 Oxford University Press, New York, ISBN 0-19-505127-0
- Parsons, D. W. (1989) The Power of the Financial Press: Journalism and Economic Opinion in Britain and America Rutgers University Press, New Jersey, ISBN 0-8135-1497-5
External links
Major English-language business and finance magazines
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