Summary of Ridgewood A.M. Rotary Breakfast Meeting – March 1, 2018
Happy Dollars: Jay
  • Jay – March 18 brunch celebrating 30 years of women in Rotary
  • Tammy – welcome guests and speaker
  • Steve – Barb Sack’s extended service
  • Tammy – Carleton for being present “great job today”
  • Mary Ann – Michael Pollack, Super Science Saturday March 3, Upper Ridgewood Church concert March 10, welcome guests
  • Barb - joke
  • Mike – Adapted Dog Day
  • Lisa – welcome guests
  • Dave – Sayles stock
 
Announcements – Tammy
  • Calendar sales
  • Rotary brunch
 
Speaker – Michael Pollack Investment Writer
  • Studied Journalism at Northwestern University graduating in early 70s
  • Two recessions in the 1970s with afternoon newspapers struggling. Newspaper Mike was working for announced it was shutting down – 120 jobs were lost
  • Found job as city writer for weekly newspaper. Business writing was the only journalism area growing and moved to Business Week.
  • Worked at Continental Bank who lent money to oil companies, and went bankrupt after oil prices dropped
  • Moved to Washington writing about commodities, regulations, and agriculture. Also covered labor and workplace issues.
  • Moved to London with Dow Jones for 3.5 years covering the British economy. In 1990 Mike moved back to Ridgewood as a Dow Jones editor
  • The 2008 downturn and Dodds-Frank legislation impacted the news industry significantly – took buyout.
  • With Dow Jones relationships with editors, Mike started writing about mutual funds and bond markets. Bond yields started increasing 2013, not easy to cover.
  • The Murdoch purchase of Dow Jones / WSJ in 2006 brought significant changes – reduced costs through buyouts, reduced paper sizes, stories are shorter (700-800 words versus 1200-1500 words)
  • More focus now on online/mobile content
 
50-50 Winner and 4-Way Leader – Dave
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