Like I said...

Always up to the deadline

Since all of you have shared your thoughts on this blogging experience, I figured I'd post mine, too. I've enjoyed blogging this semester. I don't think editing is the most exciting topic for a blog, but this assignment has given me good exposure to the world of blogging and has sparked my interest in this emerging media.

Blogs have created an incredible network of commentary and has given millions a platform to share their work, thoughts, critiques, etc. There are endless possibilities for blogs and I look forward to creating one in the future. Hopefully I'll be a little more dedicated and post more regularly.

I've also enjoyed exploring other blogs. I'm fascinated by how many blogs there are out there. They cover everything and it's great that each blog can either cater to a certain audience (editing students) or appeal to the masses. 

Blogging is a powerful form of communication and I've noticed major news outlets have established blogs to keep up. I never would have guessed Anderson Cooper would have time blog.

While this post will most likely bring an end to my editing blog, be on the lookout for a blog from me in the future.

In the meantime, I recommend this blog: Post Secret. It updates every Sunday and is a pretty interesting. In short, people write a secret on a postcard and send it to this guy for him to post on his blog. It's widely visited and the owner of the blog has packaged the secrets in art shows and several books.

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It's been fun reading all of your blogs. Thank you.

In true Jon Abdnor fashion...

A journalist is stimulated by a deadline; he writes worse when he has time.

-Karl Kraus

I suppose this is my defense for always procrastinating. I've always been one to cut it close to deadlines and never seem to get an early jump on things. I claim that this terrible habit doesn't hurt my work. Yes, there have been times where I wish I could have had another half hour or so for tweaking, but I've never changed my ways. For as long as I can remember, I've always gotten late starts on assignments and have many times fought off sleep and pushed through the night to meet deadline. Am I addicted to the rush of pounding out a few thousand words as the sun rises? Maybe. I'd rather think of it as training for working in a world where every deadline is short and there isn't any time to waste. If I were to sit down at my computer a week early to write sometime, I would be terribly unproductive. When I know I have time to spare, I, well, I spare it. Thus, I put myself in situations where there is no time to waste.

I know this isn't sane. It's definitely not a healthy study habit. Still, it's one that has adapted to fit my night-owl lifestyle and it for whatever reason has worked-- so far, at least. So maybe Karl Kraus is correct. I certainly agree.

Notice he doesn't say the same for editing. (I haven't read otherwise, at least.) Stories often need to be edited in a timely fashion in order to meet deadline. I've never been stimulated by a deadline in editing, however. I like having time to thoroughly read an article and carefully consider making changes. In class, for example, we have turned out edited stories within short deadlines, but I'm sure most of us wouldn't mind having a little more time to look things over.

Revisiting Exercise 1

I know we didn't do Exercise 1 at the start of the semester, but I can imagine how I would have done on it if we had. It wouldn't have been pretty. For me, grammar has always been "do what sounds right and remember those textbook examples from grade school." It has been interesting to relearn grammar this semester, but I have enjoyed the experience and the challenge.

As I  completed Exercise 1 today, I realized how much I learned this semester. I have also gained confidence in my abilities to edit and utilize proper grammar. Still, I missed three questions and realized that learning grammar may take me the rest of my life. There are so many rules to remember and I often get confused with usage in cases such as using who/whom.

As for the spelling portion, I knew most of the words right away. Still, I had to rely on the spellcheck on Word to reassure me.

How can we sell ourselves?

I realize this blog's title may sound a bit odd. No, I haven't given up on the industry and resolved to flat out sell myself to the highest bidder. I'm talking about marketing our skills as editors.

Journalists, designers and photojournalists can all make vivid portfolios to showcase their work. For an editor, however, more specifically a copy editor, it's much harder to show your skills. You can show an article that is grammatically sound and all the facts check up, but couldn't the writer have done that on his own? How can you show what you can offer?

I think a lot of this links back to how copy editors can be the unsung heroes of a publication. They don't get a lot of credit for their work and you only really hear about them when they let an error slip through. So are copy editors stuck to having a storied resume and a good reviews from the editor in chief to prove their mettle? That sounds a little less appealing than having a resume full of eye-grabbing layouts or infographics.  But perhaps that's just the nature of the industry and good managing editors will still be able to see a good copy editor when one comes along, despite there being little to show for it.

R-o-b-o-t-_-T-a-k-e-o-v-e-r-?

"Dirt" and "reduce" are two words I will never misspell again. I fell victim to "D-u-i-r-t" in my second grade spelling bee, following the "u" sound, but knowing that there was an "i" in there somewhere. Placing third gave me one year to study up and come back with a vengeance in third grade. With a confident "reduce, r-e-d-u-c-e, reduce" I claimed the crown. I would like to note that Windsor Elementary School never held a spelling bee again. Perhaps they foresaw the then young Jonathan Abdnor continuing to climb the ranks of spelling greatness and mastering three-syllable words before fourth and fifth graders even had a chance.

I used to read lists of words when I was growing up (I swear it was for training only). Now I just scramble my fingers over the keyboard and hope I get close enough in my spelling that the computer will know what I mean to say.

It's very nice of technology, specifically Microsoft Word and whatever corrects my e-mails, to help me perfect my spelling, but don't they realize they are slowly eradicating the need for anyone to know how to spell? Besides the select handful of kids who compete in the National Spelling Bee, are kids learning how to spell anymore?

Our spelling quiz brought me pack to the old days of spelling packet assignments every week and tests on Fridays. Those days of spelling seem so long ago, however.

Technology has gone beyond helping us out with spelling and has been so bold as to venture into the world of grammar. I don't hold the grammar checker on Word to be too credible. In fact, when it comes to comma and semicolon use, I feel it gets just as confused as I.

How far will this technology go? Surely it will improve as time progresses, but could it ever get to the point where there won't be a need for editors? Now, a machine (hopefully) will never be able to determine what is newsworthy, write a powerful headline, or organize a lead to draw the reader in, but how long will it be before technology can start taking over copy desk positions?

I don't know how I'd feel about robots taking over the newsroom. If they controlled the news, they'd surely take over the world next. Life will be hard enough with newsrooms shrinking, I'd hate to throw robots into the mix, too.

Mergers and Acquisitions

Mergers and Acquisitions!

With all of the recent hullabaloo in the market, perhaps you may have found yourself questioning: Oh, my! What if I had to be covering the implosion of Wall Street? I don’t know what any of these terms mean!

Well, seeing as we're students, let’s learn.

Some things that can be equally confusing as bankruptcy are mergers and acquisitions.


MERGER OR TAKEOVER?

There are rarely mergers of equals, when two companies combine into one, so always be cautious of using this term. “Merger” is not synonymous with takeover or acquisition, which are what most of your stories will cover.

There is a checklist you can follow to help determine what kind of deal is taking place and who the major players are.

1. Is one of the companies’ stock being used as the currency?

If yes, that’s usually a sign of an acquisition, not a merger, and that the company is the acquirer.


2. What is the message from the exchange ratio in stock transactions?

It is common for one company to offer shares to its stockholders at a 1-for-1 ratio, and the other will offer for only a percentage of the original value. This means that the first company’s stock is being used as the basis of the transaction.

It could also be the case that this is a merger and that the companies have decided to compensate one company’s stock for differing values, creating a sort of exchange ratio between one company’s stock and the other’s.

3. What is the message from the stock movements after the announcements?

In an acquisition, it is common for the stock of the company being acquired to rise and that of the acquirer to fall. This is because the acquired company, in theory, is joining into a stronger company and the acquiring company is taking in a weaker one.

It is also because most stock buyers pay a premium, or a price elevated above market price. This is to help compensate for the amount of debt being taking in by the acquirer, something investors often worry about.

4. Whose cash is being used to fund the cash portion of a transaction?

If one company’s cash will be used or its existing line of credit will be used to pay for the other company’s shares, it is a strong sign that the first company is the acquirer.

5. Which company’s executives are filling most of the top management roles?

Another key distinction is who gets the CEO position. Be careful, however, as sometimes one CEO will be in charge for a short amount of time and then the other CEO will take over for a longer period of time. This is often a matter of compromise.

6. Which company will end up with the majority of the seats on the new board of directors?

Board control is a good way to distinguish a merger from an acquisition. If one company keeps control of a majority of the board of directors, it’s a good indication of which company is in charge.

Make sure this is a longer-term setup, too, as deals can be struck for members to retire soon, etc.

7. Whose name will be on the big sign outside the headquarters?

This is not always a dead giveaway and there can be several reasons for the leading company to take the name of the acquired. It can be a marketing scheme or even a component of the deal.

8. Where will the company be headquartered?

Again, not always a fair tell, but most CEOs will try not to move.


WHAT NEEDS TO BE COVERED

FULL NAME OF BUYER, size and scope of company

EXPLAIN TERMS of deal

VALUE OF THE DEAL, in simple terms, if possible: Cash, stock, cash/stock?

PROVIDE REASON, if provided

WHAT WILL BE THE OUTCOME: the new company will….

JOB CUTS?

WARN OF EARNINGS DILUTION: more recipients of income, less payout

HEADQUARTERS of both companies

STOCK HISTORIES of both

PREMARKET TRADING before deal was sealed…… Is a premium price being paid? Was this a hostile bid?

INCLUDE (if applicable): antitrust issues, board approval, Gov’t approval, shareholder approval, court approval, break-up fees, non-discolsure/confidentiality agreements

DUE DILIGENCE: acquirer to review internal books/operations of acquired

STAGE OF TRANSACTION: letter of intent, actual agreement terms, etc.

DETAILS on how the takeover will be financed, plans for future, projected effect, etc.

HISTORICAL PERSPECTIVE

Tells more of a story, past deals/activity

WHAT IS THE STOCK TELLING US?

ASSESS THE DEAL'S CHANCES FOR SUCCESS.

r-p-o-p-h-e-s-s-a-g-r

I needed a little break from all the structure of grammar, punctuation and sentence construction, so I found refuge in one of my favorite poems from middle school...  

r-p-o-p-h-e-s-s-a-g-r

                              r-p-o-p-h-e-s-s-a-g-r

                     who

        a)s w(e loo)k

        upnowgath

                PPEGORHRASS

                                           eringint(o-

               aThe):l

                             eA

                                       !p:

              S                                                   a

                                               (r

              rIvInG                         .gRrEaPsPhOs)

                                                                          to

              rea(be)rran(com)gi(e)ngly

             ,grasshopper;

E.E. Cummings

I'll be sure to post hints about my AP quiz question soon.