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50-583: The first issue of American Banker was published in 1885, although it has been considered a continuation of the earlier Thompson's Bank Note Reporter , a bank note reporter which began publication in 1842. Although often confused with the American Bankers Association or other industry trade groups, American Banker is unaffiliated with any portion of the banking industry. It is an independent trade publication. American Banker claims descent from Thompson's Bank Note Reporter ,

100-532: A bank note reporter , its main purpose was to convey information about the notes issued by each of the hundreds of different banks operating in North America at the time, including the discounts at which their notes traded, and descriptions of counterfeits currently in circulation. Thompson's was considered the pre-eminent bank reporter in the country, and, as of 1855, claimed a circulation of 100,000, higher than any of its competitors. Thompson's offered

150-458: A "bank directory". Around the same time, John Thompson sold the paper. It continued to change hands a number of times over the following twenty years, and its reputation declined. In 1884–1885, the paper was the subject of a scandal when it was found to have been attempting to blackmail banks across the country with threats of disparaging their reputation; the paper's publisher, L. P. Haver, ultimately avoided prison time by agreeing to cease publishing

200-664: A buyer, Forbes suspended publication of these two magazines as of May 17, 2007. Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008. Forbes has published the Forbes Travel Guide since 2009. In 2013, Forbes licensed its brand to Ashford University , and assisted with the launch of the Forbes School of Business & Technology . CEO Mike Federle justified

250-502: A daily newspaper in 1899. Members of the Otis family of Boston purchased the newspaper and its sister publication, Bond Buyer , around 1910, and for several decades it remained a family-owned enterprise. Charles Otis , a former president of The Wall Street Journal and its parent company, Dow Jones & Company , became president and publisher in 1913 and remained in that role until his death in 1944. In 1936, Charles Otis announced

300-599: A deal valuing the company at $ 800   million. His majority ownership was to include the remaining portion of the company owned by the Forbes family which was not previously sold to Integrated Whale Media. The transaction attracted scrutiny by the Committee on Foreign Investment in the United States . Russell denied reports that Russian businessman Magomed Musaev was involved in the transaction. In November 2023,

350-558: A financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street , founded Forbes magazine on September 15, 1917. Forbes provided the money and the name and Drey provided the publishing expertise. The original name of the magazine was Forbes: Devoted to Doers and Doings . Drey became vice-president of the B.C. Forbes Publishing Company, while B.C. Forbes became editor-in-chief,

400-484: A new bank directory similar to Thompson's under the title The American Bank Reporter . At the same time, they also established a weekly financial newspaper, The American Banker . As of 1887, an advertisement by "Anthony Stumpf & Co., Publishers" described The American Bank Reporter as being "Formerly Thompsons & Underwoods Bank Reporters, (Consolidated.)", with The American Banker described as "a 24 page weekly financial journal published in connection with"

450-476: A part. A 2009 New York Times report said: "40 percent of the enterprise was sold... for a reported $ 300 million, setting the value of the enterprise at $ 750 million." Three years later, Mark M. Edmiston of AdMedia Partners observed, "It's probably not worth half of that now." It was later revealed that the price had been US$ 264 million. In 2021, Forbes Media reported a return to profit, with revenue increasing by 34 percent to $ 165 million. Much of

500-420: A periodical published by John Thompson . For this reason, American Banker ' s masthead gives a founding date of 1836, though the best available evidence suggests that Johnson's paper began publication in 1842. During the free banking era , Thompson's Bank Reporter was the most widely read and trusted of the several dozen bank note reporters in print—a genre of periodical which published information about

550-551: A post he held until his death in 1954. B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Forbes (1919–1990). Bruce Forbes took over after his father's death, and his strengths lay in streamlining operations and developing marketing. During his tenure, from 1954 to 1964, the magazine's circulation nearly doubled. On Bruce's death, his brother Malcolm Forbes became president and chief executive officer of Forbes, and editor-in-chief of Forbes magazine. Between 1961 and 1999

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600-407: A wide network of freelancers ("contributors") writes and publishes articles directly on the website. Contributors are paid based on traffic to their respective Forbes.com pages; the site has received contributions from over 2,500 individuals, and some contributors have earned over US$ 100,000, according to the company. The contributor system has been criticized for enabling "pay-to-play journalism" and

650-659: Is Steve Forbes , and its CEO is Mike Federle . It is based in Jersey City, New Jersey . Competitors in the national business magazine category include Fortune and Bloomberg Businessweek . Published eight times a year, Forbes features articles on finance, industry, investing, and marketing topics. It also reports on related subjects such as technology, communications, science, politics, and law. It has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine

700-587: Is known for its lists and rankings, including of the richest Americans (the Forbes 400 ), lists of 30 notable young people under the age of 30 ( Forbes 30 Under 30 ), America's Wealthiest Celebrities, the world's top companies (the Forbes Global 2000 ), Forbes list of the World's Most Powerful People , and The World's Billionaires . The motto of Forbes magazine is "Change the World". B. C. Forbes ,

750-540: The Asia Society , wrote in The Washington Post that "Since that purchase, there have been several instances of editorial meddling on stories involving China that raise questions about Forbes magazine's commitment to editorial independence." On August 26, 2021, Forbes announced plans to go public via a merger with a special-purpose acquisition company called Magnum Opus Acquisition, and to trade on

800-607: The Reporter . American Banker , which continued in print into the 21st century, has been regarded as a successor to Thompson's Bank Reporter . Thompson also published a bank note list, Thompson's Bank Note Descriptive List , which was offered for free to annual subscribers. The list was updated at irregular intervals, and by 1865 26 revised editions had been published. A collection of facsimiles of hundreds of gold and silver coins in circulation, The Coin Chart Manual ,

850-647: The 2009 Times report: "Steve Forbes recently returned from opening up a Forbes magazine in India , bringing the number of foreign editions to 10." In addition, that year the company began publishing ForbesWoman , a quarterly magazine published by Steve Forbes's daughter, Moira Forbes , with a companion Web site. The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007. The company also formerly published American Heritage and Invention & Technology magazines. After failing to find

900-697: The Neals:, Azbees, and the National Association of Real Estate Editors. In the 1980s, American Banker won two Gerald Loeb Awards and the George Polk Award for its coverage of two of the decade's major stories: The Chrysler bailout and the collapse of Penn Square Bank . Thompson%27s Bank Note Reporter Thompson's Bank Note Reporter was a periodical published in New York City by John Thompson beginning in 1842. As

950-704: The New York Stock Exchange as FRBS. In February 2022, it was announced that Cryptocurrency exchange Binance would acquire a $ 200 million stake in Forbes as a result of the SPAC flotation. In June 2022, the company terminated its SPAC merger citing unfavorable market conditions. In August 2022, the company announced that it was exploring a sale of its business. In May 2023, it was announced that billionaire Austin Russell , founder of Luminar Technologies , agreed to acquire an 82   percent stake in

1000-557: The app. David Churbuck founded Forbes ' s web site in 1996. The site uncovered Stephen Glass 's journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism . At the peak of media coverage of alleged Toyota sudden unintended acceleration in 2010, it exposed the California "runaway Prius" as a hoax, as well as running five other articles by Michael Fumento challenging

1050-604: The banking industry. Chana R. Schoenberger, who previously worked for Forbes , Bloomberg News , Dow Jones , and The Wall Street Journal , became editor-in-chief in January 2022. She had been editor-in-chief of Arizent’s wealth management publication, Financial Planning, since December 2020. Schoenberger replaced Alan Kline, a 22-year veteran of the newspaper, who was named editor-in-chief in January 2020, succeeding Rob Blackwell. Other former editors of American Banker include Marc Hochstein, Neil Weinberg, Barbara A. Rehm, who

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1100-631: The company published 100 articles each day produced by 3,000 outside contributors who were paid little or nothing. This business model, in place since 2010, "changed their reputation from being a respectable business publication to a content farm", according to Damon Kiesow, the Knight Chair in digital editing and producing at the University of Missouri School of Journalism. Similarly, Harvard University's Nieman Lab deemed Forbes "a platform for scams, grift, and bad journalism" as of 2022. In 2017

1150-494: The deal collapsed, as Russell was unable to put together the necessary funds. Apart from Forbes and its lifestyle supplement, Forbes Life , the magazine has 42 international editions covering 69 countries: Chairman / Editor-in-chief Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes on Radio . Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From

1200-406: The entire media premise of Toyota's cars gone bad. The website (like the magazine) publishes lists focusing on billionaires and their possessions, especially real estate. Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes's holdings include a portion of RealClearPolitics . Together these sites reach more than 27 million unique visitors each month. Forbes.com employs

1250-422: The following subscription options: The publication's audience included bankers and merchants ranging from New York City to the western states. One Wisconsin banker recalled that "the merchant in his store or the peddler on the prairies would as soon think of doing their business without scales, measure, or yardstick as without a Thompson's , or some other bank note reporter of recent date". The front page of

1300-549: The licensing in 2018, stating that "Our licensing business is almost a pure- profit business , because it's an annual annuity ." Forbes would launch limited promotions for the school in limited issues. Forbes has never formally endorsed the school. On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes readers to save and share visual content with other readers and discover content from Forbes magazine and Forbes.com within

1350-475: The magazine was edited by James Michaels . In 1993, under Michaels, Forbes was a finalist for the National Magazine Award . In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now

1400-436: The market in 2001. In 2004, American Banker and Bond Buyer were sold to Investcorp , which operated it as part of its SourceMedia business. In 2014, Investcorp sold SourceMedia to Observer Capital, a private equity firm founded by Joseph Meyer, the publisher of The New York Observer . As of 2024, American Banker has approximately 30 U.S.-based reporters and editors, who monitor developments and breaking news affecting

1450-419: The market value of the notes printed by each of the hundreds of banks spread across North America, as well as up to date descriptions of counterfeit bills in circulation. In the mid-1860s, the traditional function of a bank note reporter became obsolete as a uniform national paper currency came to be adopted across the country; for this reason, the character of Thompson's Bank Note Reporter shifted toward that of

1500-437: The newspaper was marking 100 years of continuous publication by producing a century edition. In 1976, the newspaper's management was overhauled. Willard S. Rappleye Jr., a former Time magazine editor was dismissed after 13 years at the helm. American Banker ' s president, Edward F. McDougal, resigned in protest, and financial editor Ben Weberman also resigned. William S.Shanks, president and minority owner of Bond Buyer ,

1550-424: The offices of the Reporter , where he vehemently denied the charges of blackmail, and accused the complaining banks of attempting to evade paying their bills. The Times published a number of follow-ups in 1884, detailing further allegations of malfeasance, and on August 17 1884, reported that Haver and another manager of Thompson's Reporter , J.E. Callinan, had been indicted on blackmail charges. Ultimately, Haver

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1600-554: The paper had previously been located at the original headquarters of the New York World at 37 Park Row—now the site of the Potter Building —until it burned down in 1882, causing $ 1,500 of damages for Thompson's .) It goes on to state that Steurer, who had been managing the printing of Thompson's at the time, formed the publishing house Stumpf & Steurer with friend Anthony Stumpf in 1855, and began publishing

1650-402: The paper. In 1885, Charles David Steurer, who had been managing the printing of Thompson's Bank Note Reporter for some time, founded a publishing house, Stumpf & Steurer, with friend Anthony Stumpf . They launched American Bank Reporter , a bank directory similar to the latest incarnation of Thompson's , as well as American Banker , a weekly financial newspaper. American Banker became

1700-472: The print edition as well as certain online-only features such as forums . In 2015, American Banker reported a reach of more than 365,000 professionals in banking and financial services. In 2016, American Banker announced it was ending the print edition, while continuing to publish content online. The publication continues to publish a print magazine nine times per year. American Banker has won frequent journalism awards including, most recently, several from

1750-454: The publisher's 2012 earnings before interest, taxes, depreciation, and amortization was US$ 15 million. Forbes reportedly sought a price of US$ 400 million. In July 2014, the Forbes family bought out Elevation and then Hong Kong-based investment group Integrated Whale Media Investments purchased a 51 percent majority of the company. In 2017, Isaac Stone Fish, a senior fellow of

1800-433: The repackaging of public relations material as news. Forbes currently allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 percent of its digital revenue. In July 2018 Forbes deleted an article by a contributor who argued that libraries should be closed, and Amazon should open bookstores in their place. As of 2019

1850-548: The reporter typically contained a small number of editorials and breaking financial news. The remainder of the publication mostly consisted of an exhaustive listing of banks, organized by state. For each bank, the reporter would generally include: Furthermore, some banks would be marked as closed or fraudulent, indicating to the reader that their bills were worthless. Others were annotated as being likely to fail. The reporter sometimes included facsimiles of counterfeit plates which were considered especially dangerous. Thompson's

1900-593: The reporter, threatening to give them a negative rating if they did not comply. According to the Times , while Thompson's Reporter had, under John Thompson, been "the pioneer in [its] class of journalism" and "a standard guide to the business", Thompson had sold off the paper some 20 years earlier, and it had subsequently changed hands multiple times. The paper's current owner was unknown, but reputed to be one "L. P. Haver" (in later articles, named variously as either "Lewis" or "Louis" P. Haver). A Times reporter found Haver at

1950-470: The revenue growth was attributed to Forbes’ consumer business, which was up 83 percent year-over-year. CEO Mike Federle says that Forbes is built on an audience and business scale with 150 million consumers. In January 2010, Forbes reached an agreement to sell its headquarters building on Fifth Avenue in Manhattan to New York University ; terms of the deal were not publicly reported, but Forbes

2000-413: The slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most widely visited business web site. The 2009 Times report said that, while "one of the top five financial sites by traffic [throwing] off an estimated $ 70 million to $ 80 million a year in revenue, [it] never yielded the hoped-for public offering ". Forbes.com uses a contributor network in which

2050-408: The time of its debut, there were two other noteworthy existing bank note reporters being published in the city, one of them by Archibald McIntyre . Initially announced as a weekly paper to be issued on Saturdays, by March 1842, it was being published twice-weekly, on Wednesdays and Saturdays. At some point before 1849, the reporter was renamed The Bank Note & Commercial Reporter . By 1858, it

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2100-491: The website blocked internet users using ad blocking software from accessing articles, demanding that the website be put on the ad blocking software's whitelist before access was granted. Forbes argued that this is done because customers using ad blocking software do not contribute to the site's revenue. Malware attacks have been noted to occur from the Forbes site. Forbes won the 2020 Webby People's Voice Award for Business Blog/Website . In November 2019, Forbes launched

2150-521: Was circulating under the title Thompson's Bank Note and Commercial Reporter . By 1866, as the free banking era came to a close, the traditional function of bank reporters became obsolete, and Thompson's character shifted toward that of a "bank directory". In 1876, a bank note reporter published from 1864 by L. Mendelson as the National Bank Note Reporter (and later as The National Bank Note Reporter and Financial Gazette )

2200-569: Was convicted of a misdemeanour and, in October 1885, a judge imposed a fine of $ 500; he was spared a prison sentence in light of his agreement that he would retire from publishing the paper. According to a profile of Charles David Steurer in the 1896 biographical compilation Men of the Century, an Historical Work , the facility at which Thompson's was printed was destroyed in a fire in 1884. (The 1884 New York Times blackmail exposé states that

2250-508: Was editor in chief from 2008 to 2010, and David Longobardi, who was editor in chief from 1999 to 2009, when he was named Chief Content Officer of SourceMedia Inc., the business media company that had owned American Banker since 2004. Edwin A. Finn topped the masthead in 1990–92, and Phil Roosevelt from 1995 to 1999. As of May 2012, Finn was editor and president and Roosevelt was deputy managing editor of Barron's . American Banker launched an online edition in 1996, featuring all articles from

2300-487: Was merged with Thompson's . Thompson's reporter seems to have ceased publication around 1884 or 1885, though accounts of this time are conflicting. In July 1884, the New York Times published an exposé uncovering a large-scale blackmail scheme in which the publishers of Thompson's Reporter had, for years, been sending letters to banks around the country requesting payment for subscriptions or advertisements in

2350-560: Was named president of American Banker . A year later, Shanks was dismissed from both posts by Derick Otis Steinmann (1943-2002), an Otis family descendant. Steinmann was Chairman and CEO of American Banker and Bond Buyer from 1976 to the mid-1980s. Steinmann transitioned the newspapers to the computer era, and facilitated their sale in 1983 to International Thomson , from the estate of Charles Otis. Thomson Corporation began selling its North American newspapers in 2000 and announced its intention to put American Banker and Bond Buyer on

2400-484: Was published as a supplement to Thompson's reporter as early as 1848, and continuing until at least 1877. It was also offered for free to annual subscribers to the reporter, with standalone copies sold for 12.5 cents. Forbes (magazine) Forbes ( / f ɔːr b z / ) is an American business magazine founded by B. C. Forbes in 1917 and owned by Hong Kong –based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief

2450-536: Was published from Wall Street in New York City. Its founder, John Thompson , had been working as a bill broker there since 1832, previously having worked dealing lottery tickets. The first issue of the reporter was published in 1842. A notice in the New-York American on December 31, 1841 announced it as "a new Weekly Paper, under the title of Thompson's Bank Reporter , in pamphlet form, containing sixteen pages" to be issued beginning January 4, 1842. At

2500-461: Was to continue to occupy the space under a five-year sale-leaseback arrangement. The company's headquarters moved to the Newport section of downtown Jersey City , New Jersey, in 2014. In November 2013, Forbes Media, which publishes Forbes magazine, was put up for sale. This was encouraged by minority shareholders Elevation Partners . Sale documents prepared by Deutsche Bank revealed that

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