Localizing National and International Business Stories by Linda Austin

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Linda Austin presents "Localizing National and International Business Stories," part of the free, daylong workshop, "Uncovering the Best Local Businesses," which is geared toward community and local journalists on a budget.

For more information about free training for business journalists, please visit businessjournalism.org.

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Localizing National and International Business Stories by Linda Austin

  1. 1. Localizing Business Stories 1   Photo by Flickr user p22earl
  2. 2. Linda Austin•   Execu&ve  director,  Donald  W.  Reynolds  Na0onal  Center  for  Business  Journalism  • Former  editor,  Lexington  (Ky.)  Herald-­‐Leader  • Former  execu&ve  editor,  The  News-­‐Sen6nel,  Fort  Wayne,  Ind.  • Former  managing  editor,  News  &  Record,  Greensboro,  N.C.  • Business  editor,  The  Philadelphia  Inquirer   2  
  3. 3. How often do you localize a national or international story?A. RarelyB. OccasionallyC. Frequently Photo by Flickr user kojotomoto 3  
  4. 4. What was the last story you localized?•       How did you get onto the story?•  Where did you find sources?•  How did it turn out? 4   Photo by Flickr user Colin_K
  5. 5. New York Times: wind firms benefit from tax credithttp://www.nytimes.com/2013/03/22/business/energy-environment/a-tax-credits-renewal-lifts-wind-projects.html 5  
  6. 6. NWAonline: local wind firmshttp://www.nwaonline.com/news/2013/mar/22/wind-firms-seek-clarity-irs-20130322/?business 6  
  7. 7. White House: sequester in Arkansashttp://www.whitehouse.gov/sites/default/files/docs/sequester-factsheets/Arkansas.pdf 7  
  8. 8. KARK 4: sequester in Arkansas http://arkansasmatters.com/fulltext?nxd_id=647102 8  
  9. 9. What you will learnü Why to localize business storiesü Where to find ideasü When to localize business storiesü How to localize business stories using a simple tool called the stakeholder wheel By Flickr user dok1   9  
  10. 10. Why localize business stories? 1. Fresh and enterprising 10  
  11. 11. Example: Localizing the Japanese tsunamihLp://www.lasvegassun.com/news/2011/mar/16/tsunamis-­‐ripples-­‐could-­‐reach-­‐nevada/  11  
  12. 12. Why localize business stories? 2. Draws and engages audiences 12  
  13. 13. Example: Localizing the foreclosure crisishLp://www.azcentral.com/community/scoLsdale/ar0cles/ 13  2012/03/19/20120319arizona-­‐animal-­‐rescues-­‐face-­‐growing-­‐need-­‐foster-­‐owners.html  
  14. 14. Why localize business stories? Photo by Flickr user p22earl 3. Relevant 14  
  15. 15. Example: Localizing the black farmers settlement 2011hLp://www.cnn.com/2011/10/28/us/black-­‐farmers/index.html?iref=allsearch   15  
  16. 16. Example: Localizing the black farmers settlement 2013 hLp://www.usatoday.com/ story/news/na0on/2013/03/15/ black-­‐farmers-­‐seLlement-­‐ money/1991735/   16  
  17. 17. Tips from Melissa Preddyhttp://businessjournalism.org/author/mpreddy/ 17  
  18. 18. Tips from Melissa Preddy http://bit.ly/blackfarmers 18  
  19. 19. Tips from Melissa Preddy•  The  official  website  for  the  seLlement:   hLps://www.blackfarmercase.com/  •  Has  list  of  law  firms  represen0ng  clients   19  
  20. 20. Another tip: trade groups•  The  Black  Farmers  and  Agriculturalists   Associa0on:   hLp://www.bfaa-­‐us.org/index.html  •  Na0onal  Black  Farmers  Associa0on:   hLp://www.blackfarmers.org/   20  
  21. 21. Another tip: finding trade groups•  American  Society  of  Associa0on  Execu0ves  search:                  hLp://www.asaecenter.org/Community/ Directories/Associa0onSearch.cfm   21  
  22. 22. Another tip: finding trade groups•  The  Federa0on  of  Interna0onal  Trade   Associa0ons     hLp://fita.org/members_dir.html   22  
  23. 23. Where to find ideas: 1. What you see 23  
  24. 24. Where to find ideas:2. What you see in national media   http://nyti.ms/NYTcandy 24  
  25. 25. Where to find ideas:3. What you read in releases, reports   25   hLp://www.ers.usda.gov/publica0ons/err53/err53.pdf  
  26. 26. Example: Localizing agritourismhttp://www.azcentral.com/business/articles/2012/02/02/20120202yuma- 26  arizona-agritourism.html
  27. 27. When to localize?1. Stories that impact your audiencehttp://www.sltrib.com/sltrib/money/53658159-79/service-verizon-per- 27  wireless.html.csp
  28. 28. When to localize?1. Stories that impact your audience http://bit.ly/ZGqINh 28  
  29. 29. When to localize? 1. Stories that impact your audience. LPL Financial websitehttp://lplfinancial.lpl.com/find_an_lpl_financial_advisor.ht 29  m
  30. 30. When to localize? 1. Stories that impact your audience. Arkansas Securities Departmenthttp://www.nasaa.org/about-us/contact-us/contact-your-regulator/ 30  
  31. 31. When to localize? 1. Stories that impact your audience. FINRA Broker- Checkhttp://www.finra.org/Investors/ 31  ToolsCalculators/BrokerCheck/
  32. 32. When to localize? 1. Stories that impact your audience. Securities and Exchange Commission Investment Adviser Public Disclosure 32  http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_Search.aspx
  33. 33. When to localize?2. People in town are talking about it  http://businessjournalism.org/2011/10/26/hunting-season-ushers-in-whole-new-business-beat/ 33  
  34. 34. When to localize?3. Youcan bringsome-thingspecial tothecoveragehttp://www.startribune.com/projects/96995289.html 34  
  35. 35. How to localize:Stakeholders wheel HUB = News SPOKES = Primary stakeholders RIM = Secondary stakeholders Credit: Jacqui Banaszynski 35   By Flickr user dok1  
  36. 36. Example: Who are the stakeholders? Primary (spokes) •  Governments (state, national, foreign) •  Beef ranchers •  Consumers Secondary (rim) •  Lobbyists •  Meat processors •  Food distributors •  Butchers •  Grocery stores •  Restaurants •  Health inspectors •  Chicken, hog farmers • Schools 36   Credit: Jacqui Banaszynski  
  37. 37. Exercise: Localizing gas priceshLp://abcnews.go.com/GMA/video/gas-­‐prices-­‐force-­‐drivers-­‐extreme-­‐measures-­‐crazy-­‐lengths-­‐save-­‐money-­‐travel-­‐costs-­‐fuel-­‐oil-­‐13457953   37  
  38. 38. Stakeholders wheel HUB = News SPOKES = Primary stakeholders RIM = Secondary stakeholders Credit: Jacqui Banaszynski 38   By Flickr user dok1  
  39. 39. Gas: who are the stakeholders?hLp://www.wcmessenger.com/2011/business/looking-for-a-better-way/   39  
  40. 40. Gas: who are the stakeholders?http://www.huffingtonpost.com/2012/02/23/super-commuters-on-the- 40  rise_n_1296488.html
  41. 41. Gas: who are the stakeholders?http://www.azcentral.com/arizonarepublic/news/articles/2012/03/07/20120307business-gas-prices-handle.html 41  
  42. 42. Gas: who are the stakeholders?http://www.salemnews.com/business/x928075761/Rising-gas-prices-eat-up-service-station-owners-profits 42  
  43. 43. Gas: who are the stakeholders?•  “Yiannis Melidis, co-owner of Pegasus Restaurant & Taverna, at 130 S. Halsted St. in Chicago, said fuel surcharges on such services as seafood delivery and garbage pickup have boosted the cost of running his business by 3 to 4 percent. Pegasus is absorbing those costs, but to keep profit margins from shrinking it has been cutting employees hours. A waiter who had worked 32 to 36 hours a week, for example, now works 28 to 30 hours a week.” – Chicago Tribune, March 7, 2011 43  
  44. 44. Gas: who are the stakeholders?http://www.tri-cityherald.com/2012/03/26/1879532/fuel-fertilizer-prices- 44  perplex.html
  45. 45. Gas: who are the stakeholders? Photo by Flickr user lincolnearthdayhLp://www.tampabay.com/news/business/autos/amid-­‐rising-­‐oil-­‐prices-­‐makers-­‐of-­‐corn-­‐ 45  based-­‐ethanol-­‐crank-­‐up-­‐output/1155854  
  46. 46. Gas: who are the stakeholders?hLp://www.kentucky.com/2011/05/29/1756592/cumberland-­‐marinas-­‐hope-­‐gas-­‐ 46  prices.html#storylink=misearch  
  47. 47. Gas: who are the stakeholders? By Flickr user Linus Henninghttp://www.tdtnews.com/index/news/show/85550?title=Rising+gas+prices+affect+city+budget 47  
  48. 48. Gas: who are the stakeholders?http://cronkitenewsonline.com/2011/03/increased-gas-prices-may-impact- 48  food-pantries-outreach/
  49. 49. What you learned ü Why to localize business stories ü Where to find ideas ü When to localize business stories ü How to localize business stories using the stakeholder wheel: o  Hub =news o  Spokes =primary stakeholders o  Rim =secondary stakeholders 49   By Flickr user dok1  
  50. 50. LindaAustin•   Execu&ve  director,  Donald  W.  Reynolds  Na0onal  Center  for  Business  Journalism    Linda.aus0n@businessjournalism.org  @LindaAus0n_  602-­‐496-­‐9187    BusinessJournalism.org  @bizjournalism     50  
  51. 51. Tips from Melissa Preddyhttp://businessjournalism.org/author/mpreddy/ 51  http://bit.ly/MelissaPreddyRSS
  52. 52. Handouts, slides, videohttp://bit.ly/self-guided-training 52  
  53. 53. Upcoming free training http://bit.ly/bizjtraining 53  

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