Over the past two years or so, BUSINESS WEEK has run a series of seminal stories about what we called the New Economy. We described how information technology and the globalization of business were spurring investment and productivity. We argued that these trends were creating a new business cycle that would permit faster economic growth without renewed inflation. This line of reasoning drew blood. We debated it endlessly among ourselves, and we were criticized by some traditional economists, who kept warning that an overheated economy would generate inflation long before now.
We are thus especially gratified to learn that we have received the 1998 Gerald Loeb Award for distinguished business journalism in the magazine category for our coverage of the New Economy. The Loeb prize, administered by the John E. Anderson Graduate School of Management of the University of California at Los Angeles, is the most important award in business journalism--and we have now won it for two years in a row. Kudos to Mike Mandel and Dean Foust for their brilliant work. The Loeb judges also honored us as a finalist for our coverage of WorldCom Inc.'s dramatic takeover bid for MCI Communications Corp.
BUSINESS WEEK has garnered a number of other editorial prizes this year. Among them: the Overseas Press Club (OPC) Award for best business reporting from abroad (in magazines) for our coverage of the Asian crisis, an OPC citation for environmental reporting, a National Magazine Award nomination for BUSINESS WEEK Online, three Deadline Club award nominations, and several awards for our coverage of abuses on Wall Street.
These awards demonstrate again why BUSINESS WEEK is by far the world's No.1 business magazine--first in circulation, first in total readership, first in revenue, and first in editorial honors. We are determined to continue bringing you, our loyal readers, the best possible publication.