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The writers at The Wall Street Journal really don’t want to see Dow Jones (DJ) get taken over by Rupert Murdoch’s News Corp. (NWS)

With reports suggesting that a News Corp. deal to acquire the company could be sealed within a matter of weeks, provided the controlling Bancroft family agrees, the union that represents workers at Dow Jones staged a sickout Thursday morning.

The union issued the following statement:

Wall Street Journal reporters across the country chose not to show up to work this morning.

We did so for two reasons.

 

First, The Wall Street Journal’s long tradition of independence, which has been the hallmark of our news coverage for decades, is threatened today. We, along with hundreds of other Dow Jones employees represented by the Independent Association of Publishers’ Employees, want to demonstrate our conviction that the Journal’s editorial integrity depends on an owner committed to journalistic independence.

 

Second, by our absence from newsrooms around the country, we are reminding Dow Jones management that the quality of its publications depends on a top-quality professional staff. Dow Jones currently is in contract negotiations with its primary union, seeking severe cutbacks in our health benefits and limits on our pay. It is beyond debate that the professionals who create The Wall Street Journal and other Dow Jones publications every day deserve a fair contract that rewards their achievements. At a time when Dow Jones is finding the resources to award golden parachutes to 135 top executives, it should not be seeking to eviscerate employees’ health benefits and impose salary adjustments that amount to a pay cut.

 

We put the reputation of The Wall Street Journal and the needs of its readers first. That’s why we will be back at our desks this afternoon, producing the day’s news reports. But we hope this demonstration will remind those entrusted with the future of Dow Jones that our publications’ integrity must be protected, and sustained, from top to bottom.

Will this mini-strike work? It seems unlikely. For one, after taking a quick look at the WSJ’s Web site on Thursday morning, it didn’t appear that there was any indication that people weren’t working. Breaking stories were covered by writers there and not just wire stories.

However, one Dow Jones employee e-mailed me Thursday afternoon to point out that several of the stories on the WSJ home page were written either by Dow Jones Newswires staffers, who were not included in Thursday’s work stoppage even though they are also union members, or were written by WSJ reporters on Wednesday for publication in Thursday’s paper.

And when I spoke to Jim Browning, a reporter in the money and investing section and chair of the union’s bargaining committee, he conceded that it was hard to tell just now how many reporters decided to stay home. He was not in the office at the time and suggested I check back in later today for an update on how many reporters avoided the office.

Still, this move by the Journal staffers shows that they could make life difficult for News Corp. Even though there was a report in The New York Times suggesting that part of Murdoch’s pact with the Dow Jones board on matters of independence would let Murdoch hire and fire editors at will, what is Murdoch going to do if the entire staff revolts? He can’t simply fire them all and easily replace them with people just out of journalism school.

The WSJ’s strength is its brand and that comes from its reporting and editing talent. So if Murdoch succeeds in winning control of Dow Jones, he’s really going to have to extend an olive branch to the union, stat, or he may quickly find that he just threw $5 billion of his shareholders’ money down the drain.

Posted by Paul R. La Monica 11:33 am 13 Comments comment | Add a comment

With respect to ‘He can’t simply fire them all and easily replace them with people just out of journalism school.’, I have to ask, have you seen Fox News? Experience and integrity don’t appear to be qualifiers. Even a wholesale change will cause scarcely a ripple in the readership that can stomach the fantasy world of their editorial page. Democracy in Iraq, anyone? Someone?

Posted By Fred Perkins, McLean, VA : July 5, 2007 12:11 pm

I use the WSJ as one of many tools in making investment decisions. If the WSJ evolves into something less usefull then I and others in investment world will simply replace the tool with another.

Question: Will articles regarding News Corp be independent or have a favorable slant?

Posted By Jim, Seattle, WA : June 28, 2007 5:17 pm

1:13, what you are missing is that it’s not any change in slant on the editorial side that is at issue. The risk is that Murdoch will impose a similar slant on the news side, which to date has been admirably independent from the paper’s editorial pages.

Posted By anon2, East Coast, USA : June 28, 2007 3:54 pm

Wise up. I know Rupert Murdoch and he doesn’t like unions. Let them walk out and damn the fine print of their union contract. Murdoch will hire replacements and there are more than enough quality journalists out-of-work and in need of a paycheck. It’s not pretty.

Posted By Barney Kilgore, Heaven, NY : June 28, 2007 2:40 pm

Personally I think the purchase of WSJ by Murdoch is just a move by Murdoch to please Chinese government.

WJS has been one of few newspapers that published unbiased reports about the true state of China today.

Murdoch’s purchase of WSJ can expand his newspaper empire while at the same time silencing it to please Chinese communist bosses to obtain lucrative business deals in China.

Posted By JuTsung, Boston, MA : June 28, 2007 2:30 pm

The editorial board at the WSJ is already pretty conservative, seems to me Murdoch is simply buying something that is already a fit to his positions.

Posted By Rick Judah, Hampton, GA. : June 28, 2007 1:13 pm

If Murdock takes over, I’ll be voting with my money - taking my subscription dollars elsewhere ! G.T.Thrasher, Boston

Posted By Anonymous : June 28, 2007 12:56 pm

Obviously, Murdoch would just fire them. It’s always been my experience that the activists in the Guild (or in this case that toothless union at the WSJ)are generally the benchwarmers of the staff.

Posted By E. Smith, Rutherford, NJ : June 28, 2007 12:50 pm

Is there some basic or important reason why your column does not have a printer-friendly capability? Is this just more of the cyber-unfriendly ways that CNNMnney treats its readers?

Posted By Charlie, Madison, Wisconsin : June 28, 2007 12:40 pm

Your colleague at TIME has a great piece on the Murdoch and the beginning of his bid to acquire the Journal.

http://www.time.com/time/nation/article/0,8599,1638182-3,00.html

Like this quote especially that highlights just how far he could go (All joking aside) ~

Murdoch has invested billions in newspapers when few others were willing, but he has also kept them alive through a lowest-common denominator approach typified by the trashy Sun, with its topless Page 3 girls on the breakfast tables of a million Britons. Murdoch wouldn’t be Murdoch if he didn’t love sticking it to sanctimonious J-school toffs. “When the Journal gets its Page 3 girls,” he jokes late one night, “we’ll make sure they have M.B.A.s.”

Posted By Kyle A., Boston, MA : June 28, 2007 12:18 pm

More reporters across the country should stay out permanently, based on opinionated reporting and their own biased interpretation of the facts.

Posted By roger e dailey braselton, ga : June 28, 2007 12:17 pm

If Murdoch does close this deal, I won’t be reading this paper much…especially anything with an opinion in it.

Posted By Gloria, Reston, Virginia : June 28, 2007 12:16 pm

You are correct that Murdoch cannot realistically force immediate wholesale changes against the wishes of the entire staff without destroying his investment.
However, if you look at the other papers News Corp has acquired, you will see that over time Murdoch does replace key employees with ones who reflect his editorial positions.

This will be the beginning of the end of true editorial independence for the WSJ but that is just the way things work. Money talks

Posted By Ken Thompson, Atlanta Ga : June 28, 2007 12:06 pm

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