It’s normally not good news when a company is the subject of repeated stories on the front page of the Wall Street Journal.

That was driven home to the newspaper’s own reporters in personal fashion Tuesday by the news that Rupert Murdoch appeared to have succeeded in his monthlong quest to take over Dow Jones & Co., the Journal’s parent company.

Reporters reacted bitterly to the prospect of Murdoch’s gaining control of the Journal, which has long been regarded as a beacon of financial journalism.

They voiced concern that Murdoch would diminish the paper’s quality, imbue it with some of the glitzy style of his New York Post and slant the Journal’s news coverage to advance his business interests.

“People are aghast that this could have happened,” said one reporter, who like others spoke on condition on anonymity. “It’s a sickening realization to know that this really great iconic newspaper is [not only] no longer going to be independent but is also going to be controlled by a man whose values are inimical to ours.”

To address such concerns, Dow Jones and Murdoch’s News Corp.—which also owns 20th Century Fox, the Fox News Channel and tabloid newspapers in Britain and Australia—agreed to the creation of a committee to help protect the newsroom from attempts to steer coverage that relates to Murdoch’s interests.

The panel could veto the firing or hiring of the Journal’s top editorial executives, but some Journal writers have said the committee wouldn’t be strong enough.

The newsroom was particularly incensed by the detail, disclosed on the Journal’s web site Tuesday, that Dow Jones had agreed to pay the Bancroft family’s advisory and legal fees related to the merger, which are estimated at least $30 million.

The journalists viewed the payment, which ultimately would be made by Murdoch’s News Corp., as an improper incentive for wavering family members to support the deal.

“There’s a real feeling that this place covers the worst in corporate behavior and our executives should have known better,” one reporter said.

Journal reporters also voiced disappointment that Paul Steiger, the paper’s long-time managing editor, did not speak out against the News Corp. bid. Steiger, who stepped down in May to become the paper’s editor-at-large, could have rallied opposition to the deal, they said.

“There’s a fair amount of anger and frustration at him,” one reporter said.

Robert Christie, a Dow Jones spokesman, said it would be inappropriate for Steiger, who is overseeing the paper’s coverage of the News Corp. bid, to express any feelings about the deal. “He’s in no position to comment publicly,” Christie said.

Some reporters took solace in the belief that the Journal, which has been struck by a decline in ad revenue that is afflicting the entire newspaper industry, might have undertaken deep cost-cutting and layoffs had Murdoch and his money not shown up.

Nevertheless, after years working their way up to a major newspaper, some Journal reporters are reassessing their careers.

“Everyone is sitting here talking about what their next career will be—not their next journalism job, their next career,” one reporter said.

Judging by comments on the Journal’s web site, many readers aren’t looking forward to Murdoch’s ownership.

“If the WSJ becomes anything as gaudy, sensational, or inflammatory as Fox News, I’m never reading it again,” one person wrote. “This is bad news for readers. My sympathies go out to the WSJ staff.” (Los Angeles Times)

Murdoch Wins

In locking up Dow Jones & Co. for $5 billion late Tuesday, Rupert Murdoch ensured that his vast influence would be felt in the business world for years to come—as it is now by hundreds of millions of global TV viewers, moviegoers and Internet users.

‘WSJ’ reaction: ‘Sickening’

It’s normally not good news when a company is the subject of repeated stories on the front page of the Wall Street Journal.

Money, or duty to society?

The Bancroft family, which has controlled the prestigious Wall Street Journal for more than a century, is the latest newspaper dynasty to be dismantled by the pressures of the Internet age.

Global tire brand sets example of market knowledge, community integration

IT boils down to having a good name—Goodyear Philippines Inc. has close to a hundred years’ experience in support of this statement.

Vex Populi

Hand in hand with the dwindling supply of power and water is the proliferation of people, the population “explosion” (2.36-percent increase for this year) that the National Statistics Office (NSO) has warned us about—a case of plenitude in the midst of penury. A far cry from the zero growth rate (2 percent) of 1991, obviously the result of the martial law politely termed “family-planning program.”

Going beyond business

TO gain trust of people, practice what you preach.

This is what Manila Water Co. Inc. president Antonino T. Aquino has been doing in the past 10 years, since taking the helm of leadership of the Ayala-owned water firm servicing the east zone of urban Metro Manila.

Manila Water and communities: Some recent projects

COVERAGE of its water sampling and testing operations has been expanded to include several towns in Rizal province within its service grid.

Regarding Mark Jimenez

The view from Mark Jimenez’s penthouse is one of a kind: neat rows of the white crosses in the Libingan ng mga Bayani in Bonifacio Global City. Inside, crystal vases with fresh flowers are everywhere. There is an old Austrian piano that nobody knows how to play in the living room. There are photos of his family.

Five books that will amplify your ability to lead through influence

Leaders shape the future; they set strategic goals and guide their organizations toward attaining them. But they are powerless without others’ cooperation. Here are five books that will hone your ability to lead through influence.

The Cost of Myopic Management

Under pressure to hit immediate performance targets, many managers inflate earnings, often by cutting expenditures. In a recent survey of 401 top financial executives, 80 percent said they would decrease spending on “discretionary” activities like marketing and research and development to meet short-term goals.

Tattoo you

Last year Justin Miloro had to wear long sleeves to conceal the Buddha curling around his left forearm and the yellow-orange sun rays on his right. Pants covered the depiction of Earth on one leg and wings on the other.

From WOM to www

FOR years, small businesses have relied on the magic of WOM (word of mouth) to attract customers. Yet, with young Filipinos lately turning into entrepreneurs, too many small companies are creating too much buzz that customers now find it hard to tell apart the best from the bluff.

Winning: AVOIDING THE REVERSE-HOSTAGE SYNDROME

Q: Why do so many companies not address cross-cultural differences in a merger until it’s too late? Karen Fenner, Camden, New Jersey

A: Because you can’t number-crunch culture. And financial analysis is almost always where merger evaluations begin, along with some level of strategic analysis.

The monarchical tradition

Thomas Jefferson discontinued the practice of personally delivering the president’s report to Congress that was inaugurated by George Washington, the first president, on January 8, 1790, in New York, the capital of the new nation until 1801. But since the US Constitution required a president to report to Congress, Jefferson wrote his message and had it read by a clerk.

The future of San Miguel

‘We’ve done preliminary studies, going so far as to hire an independent adviser to shortlist for us attractive industries in which we might choose to participate, industries like mining, power, infrastructure, water, other utilities and property.’

Seeing the World

We can state, quite categorically, that we are living in very demanding times. Our planet is under stress. Our country confronts serious challenges. Our communities are in search of real solutions to age-old problems.

The hidden good news about CEO dismissals

Worldwide, boards of large corporations are dismissing four times more CEOs today than in 1995, a trend that raises an important question: Are boards undermining the chief executive’s ability to lead for the long term?

Overcoming resistance to change

There are a few in every bunch: the naysayers, the predictors of disaster, the ones who dig in their heels and fight you at every turn. What would a change initiative be without them?

From Small to Big Screen

Jim Libiran is not your regular commercial filmmaker and screenwriter who has a standard formula for a box-office hit and makes use of predictable plots and cliché lines.

‘Just do it’

IMAGINE a situation where killings and disappearances are taking place. The victims form a distinct and disliked, though by no means unpopular political grouping. In fact, they have the most populist agenda of any other.

Leadership that focuses on the customer–really

Many executives and managers exhort their followers to make the customer the center of everything they do. Yet for all the passion and conviction of their words, genuine customer focus remains theory rather than practice in their organizations.

Forward-Thinking Cultures

It’s hard to manage any organization so that its long-term interests aren’t sacrificed to short-term expedience. But there is an added wrinkle for organizations whose operations are globally dispersed: cultural orientation toward the future varies widely the world over.

Book Keeper

The life of National Book Store founder Socorro C. Ramos should serve as an inspiration to the younger generation on how to hurdle the numerous challenges thrown our way. Her success, not just in business but in all aspects of life, stresses the importance of focus, dedication, hard work, education and other important values.