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REPORTERS FROM AROUND
THE WORLD COME TO WHARTON
Wharton Seminars for Business Journalists
By Martha Mendoza
Sanjeep Junnarker was sure he'd be "bored to tears."
After all, days and days of accounting might be stimulating
stuff for a typical Wharton student, but Junnarker, the New
York Bureau Chief for CNET News.com, was no MBA
candidate. He was there for an intensive five day Wharton
Seminar for Business Journalists, and he wanted action.
It didn't take long, though, for Junnarker to realize
crunching numbers isn't necessarily a bore.
"Learning some of the basics of accounting and going on
to the tricks of the trade to make your books seem stronger,
was fascinating," he said, recalling his seminar last year. "We
also learned of the various red flags that tip accounting from
mere routine tricks to enliven the numbers to fraud."
The result of his time at Wharton, said Junnarker, is that
he is better equipped to ask questions and follow up when
interviewing executives.
Junnarker is one of 2,000 journalists who, over the past
35 years, has taken a few days away from deadlines and
headlines to study with some of Wharton's top professors.
The seminars cover everything from corporate governance
to marketing strategies.
Each year, about 20 to 40 business reporters, editors and
producers gather from around the world for five days of
intensive lectures and hands-on exercises with top faculty
members. Professors say the time is as valuable to them as
it is to the reporters.
"Journalists tend to seek answers in plain English—which is a true test for academics accustomed to speaking
'ivory-tower.' I enjoy meeting this group because of the
real-world concerns they focus us on," said Olivia Mitchell,
an internationally renowned pensions expert at Wharton.
Mitchell holds several positions, including the post of
International Foundation of Employee Benefit Plans Professor
in the Insurance and Risk Management Department; executive
director of the Pension Research Council, the oldest
research center of its kind in the country; and director of
the Boettner Center for Pensions and Retirement Security.
Mitchell, who has offered journalists a session on pensions
and retirement for several years running, said working
with them is an important part of her job.
"I find that the people who participate in these events at
Wharton tend to be the key opinion-makers of the nation.
For this reason, I believe it is crucial to work with them to
ensure that our research message reaches the broad audience
it deserves," she said.
In addition to Mitchell's sessions, journalists this year
had a chance to study with a range of professors including
Robert Mittelstaedt, Jr. Vice Dean of Executive Education
and Adjunct Associate Professor of Management, who
taught a session on corporate governance issues from a global
perspective. Focusing on the role of boards, he presented
the journalists with tools to evaluate boards' effectiveness,
and an overview of relevant rules and regulations.
The Wharton Seminar for Business Journalists began
in 1968 after University of Pennsylvania's Public Relations
director Donald Sheehan proposed a short program to help
journalists understand the important business issues of
the day.
Since then, participants have included writers from The
Wall Street Journal, The New York Times, The Washington
Post, CNN, US News & World Report, and Business Week.
They come from across town at The Philadelphia Inquirer
and they come from across the globe. Past participants
include reporters from the East African Standard in Nairobi,
Puerto Rico's El Nuevo Dia, Expansión in Spain, Portugal's
Fortuna, Israel's Ha'aretz, Nikkei in Japan and Sydsvenska
Dagbladet in Sweden.
Nick Wachira of the East African Standard in Nairobi,
Kenya, said participating in the seminar offered him practical
knowledge about accounting, finance and investment
and management. He said the studies clearly improved
his journalism.
"This has allowed me to stand out against many journalists
in Africa," said Wachira, who also happily notes that he
was promoted to business editor soon after he completed
the Wharton seminar.
Since the program's inception, business journalism has
moved from the stock pages to the forefront of daily newspapers,
television broadcasts and web sites. These days,
money and business issues affect all aspects of life, from
health care and housing to politics and the environment.
Business journalists have struggled, and in many cases
failed, to keep up with the changes.
An American Press Institute survey released in February
concluded that the nations' business leaders are unimpressed
with the quality in most daily newspapers, and that
journalism school graduates are ill prepared for business
desk assignments.
The survey also showed that programs like the Wharton
Seminar for Business Journalists are exactly what editors,
reporters and CEOs want—intense and focused education
from the experts.
The seminar fees, paid by participating journalists and
their companies, cover only part of the cost. The rest—
underwriting faculty honoraria, classroom costs, materials
and meals—is covered by dozens of corporate and foundation
sponsors including Altria Group, Chevron Texaco and
Pfizer Inc.
Merck & Co., Inc. media relations manager Chris Loder
said his company has appreciated the opportunity to sponsor
Wharton's Seminars for Business Journalists.
"This relationship has proven mutually beneficial and
opened opportunities for premier journalists to receive a fine
educational experience," he said.
The National Press Foundation, a Washington, DC-based
nonprofit organization dedicated to journalism education,
sponsors three participants annually, including tuition
and travel expenses.
Alumni of the seminars say the program helped them
better communicate complex issues to their readers.
"As a journalist who's been working as a foreign correspondent
in Latin America for nearly 25 years, I really
appreciated the opportunity to be in an academic setting,"
said Geri Smith, Mexico City bureau chief for Business
Week magazine.
"Wharton made some of its best-known professors available
for the course, and they were wonderful, provocative
speakers" said Smith.
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