By: Joseph Altman
The New York Times on Monday received three Loeb Awards, among the highest honors in business journalism, while Fortune magazine’s Allan Sloan won his seventh Loeb Award.
The Times won for its investigative series about how poisonous pharmaceutical ingredients from small Chinese factories have flowed into the global market. It also took awards for coverage of Merrill Lynch & Co. CEO Stanley O’Neal’s ouster, and for columnist Joe Nocera’s commentary on socially responsible investing.
Sloan won for his story “House of Junk,” which dissected one deal to show how subprime mortgages went bad.
Among medium newspapers, The Charlotte (N.C.) Observer won for a yearlong series that unraveled the subprime crisis through an investigation of lending practices at Beazer Homes USA Inc.
In the small newspapers category, Tony Bartelme of The Post and Courier in Charleston, S.C., was recognized for a story about the effect of China’s growth on local economies.
Daniel Hertzberg, deputy managing editor for international at The Wall Street Journal, received this year’s Lifetime Achievement Award.
Frank J. Comes, senior editor at McKinsey & Co. and former assistant managing editor of BusinessWeek, received the Lawrence Minard Editor Award.
The Loeb Awards have been presented for 35 years by Anderson School of Management at the University of California at Los Angeles. They were established in 1957 by Gerald Loeb, a financier and founding partner of E.F. Hutton, to encourage quality reporting in business, finance and the economy.
Mike Liedtke, Adam Geller, Dave Carpenter and J.W. Elphinstone of The Associated Press were finalists in the news services category for their series on subprime mortgages.
This year’s awards were presented Monday night at a dinner in Manhattan. The winning entry in each category receives $2,000.
The full list of winners by category:
— Large Newspapers: Walt Bogdanich, Jake Hooker, David Barboza and Andrew W. Lehren of The New York Times for “Toxic Pipeline.”
— Medium Newspapers: Binyamin Appelbaum, Lisa Hammersly Munn, Ted Mellnik, Peter St. Onge and Liz Chandler of The Charlotte (N.C.) Observer for “Sold A Nightmare.”
— Small Newspapers: Tony Bartelme of The Post and Courier (Charleston, S.C.) for “The China Effect.”
— Magazines: Allan Sloan of Fortune for “House of Junk.” Honorable mention: Michael Lewis of The New York Times Magazine for “In Nature’s Casino.”
— Commentary: Joe Nocera of The New York Times for “Talking Business.” Honorable mention: Daniel Howes of The Detroit News for “Business Columnist.”
— Breaking News: Jenny Anderson and Landon Thomas Jr. of The New York Times for “The Fall of E. Stanley O’Neal at Merrill Lynch.” Honorable mention: Katie Merx, Tim Higgins, Tom Walsh, Mark Phelan, Susan Tompor, Sarah A. Webster, Katherine Yung and Joe Guy Collier of the Detroit Free Press for “A New U.S. Auto Industry.”
— Beat Writing: Kate Kelly, Serena Ng, Susanne Craig and David Reilly of The Wall Street Journal for “Breakdown at Bear Stearns.” Honorable mention: Charles Duhigg of The New York Times for “Golden Opportunities.”
— News Services: Mark Pittman, Bob Ivry and Kathleen M. Howley of Bloomberg News for “Wall Street’s Faustian Bargain.”
— Feature Writing: Charles Fishman of Fast Company for “Message in a Bottle.”
— Online: Art Lenehan, Anh Ly and Suzanne McGee of MSN Money for “Keeping Up With The Wangs.”
— Television Daily: Steve Washington, Darren Gersh, Dana Greenspon and Sanjay Jha of PBS Nightly Business Report for “India’s Promise.”
— Television Enterprise: Byron Harris, Mark Smith and Kraig Kirchem of WFAA-TV for “Money for Nothing.”
— Business Book: David A. Kaplan of William Morrow for “Mine’s Bigger: Tom Perkins and the Making of the Greatest Sailing Machine Ever Built.”