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Financial World
CategoriesBusiness
FormatBiweekly magazine
FounderLouis Guenther
Founded1902; 122 years ago (1902) in Chicago
Final issue1998; 26 years ago (1998)
CountryUnited States
Based inNew York
LanguageEnglish
ISSN0015-2064

Financial World was an American magazine for investors that operated from 1902 to 1998. The magazine was known for its annual "Bronze Award", given to whomever it deemed that year's top corporate CEO.

Publication history

Financial World was founded in 1902 by Louis Guenther in Chicago and later moved to New York.[1][2] It was originally issued weekly, and later every two weeks.

In 1980, Macro Communications owned the magazine. By the 1980s, the magazine was known for publishing annual lists of the year's top money-makers. As of 1983, Financial World specialized in information for individual investors.[1] Carl Lindner Jr. purchased the magazine in 1983; it was sold to Barry Rupp, Steve Rupp, and Timothy Draper in 1995.[2]

In the magazine's later years of publication, its signature issue was the "Sports Franchise Valuation Issue". In its last years, this feature was prepared by Andrew Zimbalist, who became a contributor to Forbes.

The magazine failed in 1998.[2][3]

Bronze awards

Annual reports

In 1942, Vice President and Business Editor Weston Smith surveyed the shareholder annual reports for 1941 of 500 corporations listed on the New York Stock Exchange, evaluating how each report had improved the structure and quality of information presented when compared to the company's 1931 report.[4] The following year, he expanded the survey to 766 corporations, both listed and unlisted, and awarded "Highest Merit Award" and "Honorable Mention" certificates for each industry category that were mailed to the presidents of the companies.[4] The "Highest Merit Award" was for reports considered modern, while "Honorable Mention" was for reports that had shown significant improvement from 10 years before.[4] The judging criteria included format, content and illustrations, typography, and public relations appeal.[5] 318 were considered virtually unchanged, and Smith noted that some company reports had used the same style or content for over 25 years.[4] Smith stated that the purpose of his annual report surveys was to foster continual improvement.[5]

For the 1944 survey, over 2,000 companies submitted their 1943 annual reports to the magazine for inclusion. 1,000 reports qualified for the "Highest Merit Award" or an "Honorable Mention".[5] In response to popular demand for selecting a "best" report from each industry, the magazine formed an independent board of experts with members Lewis Haney (finance and economics), Norman Bel Geddes (industrial arts), Glenn Griswold (business and industry), Raymond C. Mayer (public relations), and C. Norman Stabler (financial journalism).[6] The industry winners were announced in the August 9, 1945 issue, with Brown & Bigelow being awarded for "Outstanding Annual Report of the Year", and Pan American Airways being awarded "Best Original Annual Report Cover Design".[7]

The first annual awards dinner was held at the Waldorf-Astoria in New York City.[8] The awards presented were the "best of industry" awards, which the magazine dubbed the "Oscar of Industry", a "gold" award for the overall winner (Caterpillar Tractor Company), second through fifth place awards, and two awards for cover designs.[9]

Beginning in 1941, Financial World gave annual awards, sometimes referred to as the "Oscars of Industry", to companies for the quality of their annual reports.[10][11] The awards were divided into industrial classifications (100 in 1948), with the winner of each classification receiving a bronze award.[11] The overall winner received a gold award, and multiple silver awards were given in various broader industry categorizations.[10] Judging criteria included good design, graphics, completeness of information, and uniformity of data.[12] Information looked for included the cost and nature of acquisitions, lines of business breakdowns, company products, sales, marketing and advertising, taxes, future financing plans, research and development, and public relations programs.[12]

Annual Report Gold Winners
Year Company
1945 Caterpillar Tractor Company[9]
1946 Chesapeake & Ohio Railroad[13]
1947 Missouri–Kansas–Texas Railroad[14]
1948 Marquette Cement Manufacturing Company[11]
1949 Standard Oil Company[15]
1950 General Motors[16]
1953 Illinois Central Railroad[17]
1954 Eastman Kodak[18]
1955 Pennsylvania Railroad Company[19]
1957 Marquette Cement Manufacturing Company[20]
1958 Ford Motor Company[21]
1959 Hilton Hotels Corporation[22]
1960 Standard Accident Insurance Company[23]
1963 General Electric[24]
1964 Xerox[25]
1967 Glidden Company[26]
1971 Eastern Air Lines[27]
1972 Lowe's Companies[28]
1988 Times Mirror Company[29]

CEO of the year

The magazine began awarding its CEO of the Year award in 1975.[30] Like the annual report awards, bronze awards were given for the best in each industry category (52 in 1983), silver awards, and a gold award for the overall winner.[31]

CEO of the Year
Year CEO Company
Rick de Lome
Mary Lynn Van Dyken
Jim Zahrt
1982 Raymond Mundt
1983 Lee Iacocca[31] Chrysler Corporation
1990 Amy Ink
1993 Donald Haberek
1994 Ronald L. Bittner
1995 Ronald L. Bittner
1996 Brian Engel

Special awards

Special Awards
Year Recipient Reason
1960 New York Stock Exchange[23] The company's "leadership in encouraging greater dissemination of share ownership information."[23]
1964 Commonwealth of Puerto Rico[25] "for distinguished achievement in the annual reports of the public corporations and authorities"[25]

Notable alumni of Financial World

References

  1. ^ a b Dougherty, Philip H. (Dec 29, 1983). "Financial Magazine's New Era". Advertising. p. D13.
  2. ^ a b c Leonard, Devin (3 August 1998). "Financial World Magazine Collapses Under Gung-Ho Owner Barry Rupp". The New York Observer. Retrieved 19 February 2016.
  3. ^ Abrams, Margaret. "A Trend Forecaster Tells Us What to Expect for Spring 2018". The New York Observer. Archived from the original on 25 October 2009. Retrieved 19 February 2016.
  4. ^ a b c d Smith, Weston (June 30, 1943). "Annual survey of annual stockholder reports". Financial World. Vol. 79, no. 26. New York, New York: Guenther Publishing Corporation. pp. 3–4, 24–26.
  5. ^ a b c Smith, Weston (July 5, 1944). "Annual survey of annual stockholder reports". Financial World. Vol. 82, no. 1. New York, New York: Guenther Publishing Corporation. pp. 3–4, 27–32.
  6. ^ "Announcing the Formation of an Independent Board of Experts". Financial World. Vol. 82, no. 1. New York, New York: Guenther Publishing Corporation. July 5, 1944. p. 4.
  7. ^ "Report of Independent Experts". Financial World. Vol. 82, no. 6. New York, New York: Guenther Publishing Corporation. August 9, 1945. p. 5.
  8. ^ "'Best of Industry' Selections for 1944 Annual Reports". Financial World. Vol. 83, no. 14. New York, New York: Guenther Publishing Corporation. October 3, 1945. p. 5.
  9. ^ a b "Prizes are awarded". The Cincinnati Enquirer. Vol. CV, no. 177 (Final ed.). Associated Press. October 3, 1945. p. 15.
  10. ^ a b "Warnaco report wins top 'Oscar'". The Bridgeport Post. Vol. XCII, no. 250 (County ed.). October 24, 1975. p. 36.
  11. ^ a b c "'New Haven' Wins Group Award For Annual Report Ads". Hartford Courant. Vol. CXII (Final City ed.). Associated Press. October 22, 1948. p. 20.
  12. ^ a b "Harleysville Annual Report Wins Financial World Award". News-Herald (Perkasie, Pennsylvania). Vol. 95, no. 4930. November 19, 1975. p. 18.
  13. ^ "Snyder sees need to keep taxes up". The New York Times. Vol. XCVI, no. 32396 (Late City ed.). October 5, 1946. p. 21.
  14. ^ "Canadian Reports Win High Honors". The Gazette (Montreal). Vol. 170. October 11, 1947. p. 12.
  15. ^ Suttle, Howard. "Industry 'Oscars' Awarded". Liftin' the Lid on Washington. Shreveport Journal. Vol. 54 (Wednesday Afternoon ed.). p. 6.
  16. ^ "Sloan urges all to acquire stock". The New York Times. Vol. C, no. 33883 (Late City ed.). October 31, 1950. p. 43.
  17. ^ "Illinois Central Wins Gold Oscar". The New York Times. Vol. CIII, no. 34975 (Late City ed.). October 27, 1953. p. 39.
  18. ^ "Kodak top winner with year report". The New York Times. Vol. CIV, no. 35339 (Late City ed.). October 26, 1954. p. 40.
  19. ^ "Pennsy line wins prize for report". The New York Times. Vol. CV, no. 35703 (Late City ed.). October 25, 1955. p. 45.
  20. ^ "Gold Award for 1956 Stockholders Report To Marquette Cement". St. Louis Globe-Democrat. Vol. 83, no. 140. October 29, 1957. p. 27.
  21. ^ "Ford Wins 'Oscar of Industry' Award For Best Annual Report Issued for '57". The New York Times. Vol. CVIII, no. 36802 (Late City ed.). October 28, 1958. p. 58.
  22. ^ "Hilton '58 report wins gold award". The New York Times. Vol. CIX, no. 37166 (Late City ed.). October 27, 1959. p. 49.
  23. ^ a b c "Insurer wins 'Oscar'". The New York Times. Vol. CX, no. 37530 (Late City ed.). October 25, 1960. p. 51.
  24. ^ "G.E. Annual Report Wins Financial World's Award". The New York Times. Vol. CXIII, no. 38631 (Late City ed.). October 31, 1963. p. 41.
  25. ^ a b c "Xerox Corp. Wins Award For Its Stockholder Report". The New York Times. Vol. CXIV, no. 38993 (Late City ed.). October 28, 1964. p. 67.
  26. ^ "Glidden to Get Oscar For Its Annual Report". The New York Times. Vol. CXVII, no. 40086 (Late City ed.). October 25, 1967. p. 72.
  27. ^ "Eastern Air Lines to Get Trophy for Its '70 Report". The New York Times. Vol. CXXI, no. 41548 (Late City ed.). October 26, 1971. p. 66.
  28. ^ "Award Is Won by Retailer For Corporation Report". The New York Times. Vol. CXXII, no. 41914 (Late City ed.). October 26, 1972. p. 65.
  29. ^ "GMP wins bronze award for annual report". The Brattleboro Reformer. Vol. 76, no. 197. October 21, 1988. p. 6.
  30. ^ "Interstate/Johnson Lane's CEO earns Bronze Award". The Index Journal. Vol. 76, no. 49 (Sunday ed.). April 3, 1994. p. 5B. |
  31. ^ a b Davis, Pati (April 21, 1983). "S&L presifdent wins national honors". Fort Myers News-Press. Vol. 99, no. 151. p. 17A.
  32. ^ "Dan Dorfman Joins Magazine". The New York Times. 4 December 1996. Retrieved 19 February 2016.
  33. ^ Fabrikant, Geraldine (11 March 1992). "Vogue's Plans for Centennial - A Big Issue and a Big Party". The New York Times. Retrieved 19 February 2016.
  34. ^ Livingston, Joseph A. (October 28, 1979). "An idea whose time hadn't come". The Philadelphia Inquirer. Vol. 301, no. 120. p. 18 Today section. Retrieved March 30, 2020 – via Newspapers.com.
  35. ^ "Douglas A. McIntyre". Huffington Post. Retrieved 19 February 2016.

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