Take a Bow, Steve
One look at the covers on this page will give you a glimpse of a remarkable 15 years for BUSINESS WEEK. They are just a few highlights from more than 750 issues produced so far under the talented leadership of Stephen B. Shepard, who became editor-in-chief in 1984.
Steve Shepard and his team of more than 200 correspondents and editors have kept you ahead of the pack with an amazing progression of stories: the technology revolution, the explosion of global business, the dramatic rise and fall of Asia's economies, the resurgence of the U.S. corporation. And, of course, our prescient coverage of the Great Bull Market and the New Economy that has propelled it. Judging by the loyalty of our ever-expanding subscriber base and steady stream of awards unmatched in our field, BUSINESS WEEK has delivered consistent excellence.
Now, Steve will receive the highest individual award in our industry. On Apr. 28, he will be inducted into the American Society of Magazine Editors' Hall of Fame. ASME established the Hall of Fame in 1996 to celebrate the career-long records of excellence, creativity, and impact of a select group of highly influential magazine journalists. Steve joins past honorees including Henry Grunwald, former managing editor of Time; Richard Stolley, founding editor of People; Osborn Elliott, former editor-in-chief of Newsweek; Ruth Whitney, former editor-in-chief of Glamour; and Gloria Steinem, founding editor of Ms.
Calling Steve "an editor's editor," ASME said "his commitment to editorial excellence has transformed the weekly into an authoritative and groundbreaking news source that's a must-read for anyone serious about business, finance, and technology. Today, it is the only business magazine with a worldwide circulation of more than 1 million. Under his leadership, the magazine has played a key role in setting the national agenda for business and economic issues, becoming a major voice for the `new economy."'
ASME also cited Steve's "strong leadership" in the profession: "He has steadfastly maintained his magazine's editorial integrity and independence in many areas, particularly during the controversial court battle surrounding BUSINESS WEEK's publication of the Bankers Trust tapes cover story."
The Hall of Fame award caps a long series of accomplishments. Steve is a 1961 graduate of City College of New York and received an M.S. from Columbia University in 1964. In the early 1970s, he was founder and director of Columbia's Walter Bagehot program in economic and business journalism. He was a senior editor at Newsweek from 1976 to 1981, and editor of Saturday Review from 1981 to 1982.
BUSINESS WEEK has been a frequent award-winner under Steve. It has been a finalist for a National Magazine Award for General Excellence in 8 of the past 13 years, winning in '94 and '96. It has also won two Gerald Loeb awards for distinguished business journalism in the past two years and many awards from the Overseas Press Club, Computer Press Assn., and other organizations.
Longtime readers know that Steve has made many major improvements. Early on, he led a complete redesign of the magazine and emboldened its journalism to include more investigative stories. He greatly expanded high-tech and international coverage, added new customized editions for Asia, Europe, and Latin America, and oversaw the launch of our successful online site.
This year, Steve started a new supplement to cover the exploding world of electronic commerce, BUSINESS WEEK e.biz. A major expansion and repackaging of our personal-finance section is weeks away, and an expanded and renamed supplement, Frontier, serving the small-business subscriber, premieres next week. There are lots of reasons why Steve is such an outstanding editor. The most important is that he keeps thinking of ways to do a better job for you--in print or online.By David G. Ferm, Publisher