Good Girls Revolt is an American period drama television series. It is inspired by Lynn Povich 's 2013 book The Good Girls Revolt and based on real-life events. The show was released on October 28, 2016, on Amazon Prime Video .
148-585: On December 2, 2016, Amazon cancelled the series after one season. The series follows a group of young female writers at the fictitious News of the Week magazine (representing the real Newsweek of the non-fiction book The Good Girls Revolt ) in the revolutionary times of the women's movement. Women in the newsroom ("The Pit") are relegated to low-level positions (the researchers). Many researchers are more talented and better educated than their male colleagues (the reporters), and do original writing ("files") that
296-489: A 2015 column in the New York Post , after returning to print publication, Newsweek was selling c. 100,000 copies per month, with staff at that time numbering "about 60 editorial staffers", up from a low of "less than 30 editorial staffers" in 2013, but with plans then to grow the number to "close to 100 in the next year". In 1970, Eleanor Holmes Norton represented sixty female employees of Newsweek who had filed
444-518: A British-born antiques dealer 14 years her junior. Two years after the Lees' divorce in 1928, Nora Lee resumed the surname Mellon, at the request of her son, Paul. In the 1920s, while Mellon served as Secretary of the Treasury, Ailsa was courted by several influential men, including Otto Christian Archibald von Bismarck , Robert Horne , and Gelasio Caetani . In 1926, in the "greatest society event that
592-607: A Carnegie protege, Frank W. Haskell. Mellon also invested in mining concerns, becoming vice president of the Trade Dollar Consolidated Mining Company. Mellon and Henry Clay Frick enjoyed a long-lasting business and social relationship, and Frick frequently hosted Mellon, attorney Philander C. Knox , inventor George Westinghouse , and others for poker games. Frick and Mellon both joined the Duquesne Club and, after Frick established
740-590: A bank located in Pittsburgh. Andrew joined his father at the bank, quickly becoming a valued employee despite being in his early teens. Andrew also attended the Western University of Pennsylvania (which was later renamed the University of Pittsburgh ), but he never graduated. After leaving Western University, Andrew briefly worked at a lumber and coal business before joining T. Mellon & Sons as
888-478: A bonus to World War I veterans. Mellon did, however, win one legislative victory, as he convinced Congress to create the Board of Tax Appeals to adjudicate disputes between taxpayers and the government. Mellon had originally planned to retire after one presidential term but decided to remain in the cabinet in the hope of presiding over the full enactment of his taxation proposals. In the 1924 presidential election ,
1036-636: A cabinet position as a prestigious capstone to his career. Mellon agreed to accept appointment as Secretary of the Treasury in February 1921, and his nomination was quickly confirmed by the United States Senate . Though Mellon's supporters believed that he was highly qualified to address the economic issues facing the country, critics of the Harding administration saw the Mellon appointment as
1184-566: A claim with the Equal Employment Opportunity Commission that Newsweek had a policy of allowing only men to be reporters. The women won, and Newsweek agreed to allow women to be reporters. The day the claim was filed, Newsweek 's cover article was "Women in Revolt", covering the feminist movement; the article was written by Helen Dudar, a freelancer, in the belief that there were no female writers at
1332-733: A co-owner and vice president. During the 1880s, Mellon began to expand the bank's activities. Along with Frick, Mellon gained control of the Pittsburgh National Bank of Commerce, a national bank that was authorized to print banknotes . Mellon also acquired or helped found the Union Insurance Company, City Deposit Bank, the Fidelity Title and Trust Company, and the Union Trust Company. He branched out into industrial concerns, becoming
1480-517: A director of the Pittsburgh Petroleum Exchange and a co-founder of two natural gas companies that collectively controlled 35,000 acres of gas lands in the late 1880s. In 1890, Thomas Mellon transferred his properties to Andrew, who would manage the properties on behalf of himself, his parents, and his brothers. In late 1894, Thomas transferred all of his remaining assets to Andrew. Despite the large sums entrusted to Andrew,
1628-705: A director of various other companies, including the Pennsylvania Railroad and the American Locomotive Company . Mellon was deeply involved in the financing of World War I , as the Union Trust Company and other Mellon institutions provided millions of dollars in loans to the United Kingdom and France, and Mellon himself invested in Liberty bonds . In 1887, Frick, Andrew, and Richard Mellon jointly purchased Old Overholt ,
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#17328025548461776-493: A divorce the following year. To avoid a public scandal, Andrew reluctantly agreed to a separation in 1909. Seeking to hold divorce proceedings privately before a judge rather than publicly before a jury, in 1911 Mellon convinced the Pennsylvania legislature to amend a law that had required a jury trial in divorce proceedings. In response, Nora attacked Mellon in the press, and the divorce proceedings were widely covered by
1924-675: A faceless female in spiky red heels, having her dress lifted up by a cursor arrow", and its content, described as "a 5,000-word article on the creepy, sexist culture of the tech industry". Among those offended by the cover were Today Show co-host Tamron Hall , who commented "I think it's obscene and just despicable, honestly." Newsweek editor-in-chief James Impoco explained "We came up with an image that we felt represented what that story said about Silicon Valley. ... If people get angry, they should be angry." The article's author, Nina Burleigh , asked, "Where were all these offended people when women like Heidi Roizen published accounts of having
2072-443: A female version of that show. On Rotten Tomatoes , a score of 71% was reported with its critical consensus saying: " Good Girls Revolt features a compelling true story, told by a talented cast, even if the period drama hasn't yet achieved Mad Men -level mastery". On Metacritic , it has a 66 out of 100 score indicating, "generally favorable reviews". Newsweek Newsweek is an American weekly news magazine . Founded as
2220-536: A full-time employee in 1873. That same year, the Panic of 1873 devastated the local and national economy, wiping out a portion of the Mellon fortune. With Andrew taking a leading role at T. Mellon & Sons, the bank quickly recovered, and by late 1874 the bank's deposits had reached the level they had been at before the onset of the Panic. Mellon's role at T. Mellon & Sons continued to grow after 1873, and in 1876 he
2368-493: A major part of the federal government's revenue system with the passage of the Revenue Act of 1913 , and federal taxation on income had increased during World War I to provide funding for the war effort. According to M. Susan Murnane, major reforms to the federal income tax in the aftermath of World War I were "inevitable", but the exact nature of the tax system in the 1920s was debated by conservatives and progressives within
2516-665: A moratorium on German debt repayments. After Mellon returned to the United States in August 1931, he was confronted by another series of bank failures. Among the banks that failed was the Bank of Pittsburgh, the lone remaining major Pittsburgh bank not controlled by the Mellon family. Again, following Hoover's lead, Mellon presided over the creation of the National Credit Association, a voluntary initiative among
2664-408: A more affluent subscriber base for its advertisers. During this period, the magazine also laid off staff. While advertising revenues were down almost 50% compared to the prior year, expenses were also diminished, whereby the publishers hoped Newsweek would return to profitability. The financial results for 2009 as reported by The Washington Post Company showed that advertising revenue for Newsweek
2812-439: A new focus on longer fashion and pop culture features. A larger culture section named "Omnivore" featured art, music, books, film, theater, food, travel, and television, including a weekly "Books" and "Want" section. The back page was reserved for a "My Favorite Mistake" column written by celebrity guest columnists about a mistake they made that helped shape who they are. On July 25, 2012, the company operating Newsweek indicated
2960-482: A photo of Palin used in the August 2009 issue of Runner's World . The photographer may have breached his contract with Runner's World when he permitted its use in Newsweek , as Runner's World maintained certain rights to the photo until August 2010. It is uncertain, however, whether this particular use of the photo was prohibited. Minnesota Republican Congresswoman and presidential candidate Michele Bachmann
3108-490: A power vacuum in Pennsylvania Republican politics. Along with his nephew, William Larimer Mellon, Mellon became an influential player in Pennsylvania politics, and their support helped ensure the elections of Senator David A. Reed and Senator George W. Pepper in 1922. Mellon was unable to assert the same level of control that Boies Penrose had had over state politics, and his leadership of the state party
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#17328025548463256-474: A prominent member of the local Republican Party , and in 1859 he won election to a position on the Pennsylvania court of common pleas . Because Thomas was suspicious of both private and public schools, he built a schoolhouse for his children and hired a teacher; Andrew attended this school beginning at age five. In 1869, after leaving his judicial position, Thomas Mellon established T. Mellon & Sons,
3404-403: A purchase price of one dollar and an assumption of the magazine's liabilities. Later in the year, Newsweek merged with the news and opinion website The Daily Beast , forming The Newsweek Daily Beast Company . Newsweek was jointly owned by the estate of Harman and the diversified American media and Internet company IAC . Newsweek continued to experience financial difficulties leading to
3552-457: A reduction would minimize tax avoidance and would not affect federal revenue because it would lead to greater economic growth. He hoped that tax reform would encourage high earners to move their savings from tax-exempt state and municipal bonds to taxable, higher yield industrial stocks. Though much of the tax plan that he proposed had been developed by former Wilson administration officials Russell Cornell Leffingwell and Seymour Parker Gilbert ,
3700-739: A report for President George W. Bush and his cabinet outlining a strategy for dealing with Afghanistan and the Middle East in the aftermath of September 11, 2001 . The meeting was held at the request of Paul D. Wolfowitz , then the Deputy Secretary of Defense . The unusual presence of journalists, who also included Robert D. Kaplan of The Atlantic Monthly , at such a strategy meeting was revealed in Bob Woodward 's 2006 book State of Denial: Bush at War, Part III . Woodward reported in his book that, according to Kaplan, everyone at
3848-696: A secret meeting in November 2001 called by Paul D. Wolfowitz, then Deputy Secretary of Defense, incorrectly referenced Fareed Zakaria, editor of Newsweek International and a Newsweek columnist, regarding his participation. Mr. Zakaria was not told that the meeting would produce a report for the Bush administration, nor did his name appear on the report. The cover story of the January 15, 2015, issue, titled "What Silicon Valley Thinks of Women" caused controversy, due to both its illustration, described as "the cartoon of
3996-590: A sign that Harding would "reseat the power of special privileged interests, the powers of avarice and greed, the powers that seek self-aggrandizement at the expense of the general public". Harding paired the nomination of Mellon with that of Secretary of Commerce Herbert Hoover , who was distrusted by many of the same Senate Republicans who favored Mellon's candidacy. Before joining the cabinet, Mellon sold his banking stock to his brother, Richard, but he continued to hold his non-banking stock. Through Richard and other business associates, Mellon continued to be involved with
4144-568: A story claiming that the First Lady of Poland refused to shake U.S. President Donald Trump 's hand; fact-checking website Snopes described the assertion as "false". Newsweek corrected its story. In 2018, Newsweek ran a story asserting that President Trump had wrongly colored the American flag while visiting a classroom; Snopes was unable to corroborate the photographic evidence. In August 2018, Newsweek incorrectly reported that
4292-490: A study that discovered 2 in 3 women who were 40 and single in 1986 had married since. The story caused a "wave of anxiety" and some "skepticism" amongst professional and highly educated women in the United States. The article was cited several times in the 1993 Hollywood film Sleepless in Seattle starring Tom Hanks and Meg Ryan . Comparisons have been made with this article and the current rising issues surrounding
4440-459: A successful legal practice in Pittsburgh , and in 1843 he married Sarah Jane Negley, an heiress descended from some of the first settlers of Pittsburgh. Thomas became a wealthy landowner and real estate speculator, and he and his wife had eight children, five of whom survived to adulthood. Andrew Mellon, the fourth son and sixth child of Thomas and Sarah, was born in 1855., Thomas Mellon became
4588-599: A venture capitalist stick her hand in his pants under a table while a deal was being discussed?" In January 1998, Newsweek reporter Michael Isikoff was the first reporter to investigate allegations of a sexual relationship between U.S. President Bill Clinton and Monica Lewinsky , but the editors spiked the story. The story soon surfaced online in the Drudge Report . Andrew W. Mellon Andrew William Mellon ( / ˈ m ɛ l ə n / ; March 24, 1855 – August 26, 1937), known also as A. W. Mellon ,
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4736-409: A weekly print magazine in 1933, Newsweek was widely distributed during the 20th century and had many notable editors-in-chief. It is currently co-owned by Dev Pragad , the president and CEO, and Johnathan Davis who sits on the board; they each own 50% of the company. In August 2010, revenue decline prompted The Washington Post Company to sell the publication to the audio pioneer Sidney Harman , for
4884-551: A whiskey distillery located in West Overton, Pennsylvania . At the time, Old Overholt was one of the largest and most respected whiskey producers in the country. In 1907, as prohibition became more popular across the country, Frick and Mellon removed their names from the distilling license but retained ownership in the company. It is believed that Mellon's connections in the Treasury Department are what allowed
5032-402: Is not recognized: on a rare occasion when a female researcher's writing is openly accepted (such as when a male reporter quits just before a deadline), the researcher's story is nonetheless published as written by her, but under the departed reporter's byline only. Good Girls Revolt has received generally positive reviews from critics, with most comparing it to Mad Men and some calling it
5180-436: The 1928 Republican National Convention and was influential with Republicans throughout the country. Though they had maintained an amicable relationship in public, Mellon privately distrusted Hoover, resented Hoover's engagement in the affairs of other cabinet departments and feared that a President Hoover would move away from Mellon's tax policies. Several Republicans urged Mellon to run for president, but Mellon believed that he
5328-707: The Andrew Mellon Building . The Andrew W. Mellon Foundation , the product of the merger of the Avalon Foundation and the Old Dominion Foundation (set up separately by his children), is named in his honor, as is the 378-foot US Coast Guard Cutter Mellon (WHEC-717) . Andrew W. Mellon appears in the HBO drama series Boardwalk Empire , in the fifth, eighth and twelfth episodes of the third season, in his capacity as Secretary of
5476-575: The House Ways and Means Committee jointly prepared a bill setting the top marginal rate at the level advocated by Mellon, but opposition in the Senate from progressives like Senator Robert M. La Follette limited the size of the tax cuts. In November 1921, Congress passed and Harding signed the Revenue Act of 1921 , which raised personal tax exemptions and lowered the top marginal tax rate to 58%. Because it differed from his original proposals, Mellon
5624-517: The McKinley Tariff of 1890. During the early 20th century, Mellon was dismayed by the rise of progressivism and the antitrust actions pursued by the presidential administrations of Theodore Roosevelt , William Howard Taft , and Woodrow Wilson . He especially opposed the Taft administration's investigations into Alcoa, which in 1912 signed a consent decree rather than going to trial. In
5772-644: The National Gallery of Art . His philanthropic efforts also played a major role in the later establishment of Carnegie Mellon University and the National Portrait Gallery . Mellon's paternal grandparents, both of whom were Ulster Scots , migrated to the United States from County Tyrone , Ireland, in 1818. With their son, Thomas Mellon , they settled in Westmoreland County, Pennsylvania . Thomas Mellon established
5920-994: The Pittsburgh Coal Company , the Carborundum Company, Union Steel Company, the McClintic-Marshall Construction Company, Gulf Oil , and numerous others. He was also an influential donor to the Republican Party during the Gilded Age and the Progressive Era . In 1921, newly elected president Warren G. Harding chose Mellon as his Secretary of the Treasury . Mellon would remain in office until 1932, serving under Harding, Calvin Coolidge , and Herbert Hoover , all three of whom were members of
6068-489: The Revenue Act of 1932 , which included many of the Treasury Department's proposals. In early 1932, Congressman Wright Patman of Texas initiated impeachment proceedings against Mellon, contending that Mellon had violated numerous federal laws designed to prevent conflicts of interest. Though Mellon had defeated similar investigations in the past, his falling popularity left him unable to effectively counter Patman's charges. Hoover removed Mellon from Washington by offering him
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6216-408: The Revenue Act of 1935 rescinded many of Mellon's tax policies and contained other provisions that were designed to increase taxation on top earners and corporations. Even after leaving office, Mellon continued to be vilified by many in the public, and in 1933 Harvey O'Connor published a popular and unfavorable biography, Mellon's Millions . Democrats won effective control of Allegheny County in
6364-627: The South Fork Fishing and Hunting Club , Mellon became one of that club's first members. The South Fork Fishing and Hunting Club built the South Fork Dam , which supported an artificial lake that the club used for boating and fishing. In 1889, the dam broke, causing the Johnstown Flood , which killed 2,000 people and destroyed 1,600 homes. In the aftermath of the flood, Knox led a legal defense that successfully argued that
6512-698: The Soviet sale of Hermitage paintings . Twenty-one paintings , of the highest quality, were later given to the National Gallery of Art. Mellon decided to use his fortune and art collection to establish a national art museum in Washington modeled after the National Gallery in London. In 1936, Mellon presented President Roosevelt with an offer to establish a national art museum to which Mellon would donate his art collection as well as an endowment, while
6660-581: The Sweden Democrats , a far-right party, could win a majority in the 2018 Swedish parliamentary elections. Polls showed that the party was far away from winning a majority. By September 2018, Newsweek 's article was still up. In November 2022, during the Mahsa Amini protests in Iran, Newsweek incorrectly reported that Iran had ordered the execution of over 15,000 protesters. The claim
6808-630: The Texas oil boom , the Mellons also helped J. M. Guffey establish the Guffey Company. The Mellons later removed Guffey as the head of his company, and in 1907 they reorganized the Guffey Company as Gulf Oil and installed William Larimer Mellon Sr. (a son of Andrew Mellon's older brother, James Ross Mellon) as the head of Gulf Oil. The success of Mellon's financial empire and his varied investments made him, according to biographer David Cannadine,
6956-630: The Union Trust Company in Pittsburgh in 1889. By the end of 1913, Mellon National Bank held more money in deposits than any other bank in Pittsburgh, and the second-largest bank in the region was controlled by Union Trust. In the course of his business career, Mellon owned or helped finance large companies including Alcoa , the New York Shipbuilding Corporation , Old Overholt whiskey, Standard Steel Car Company , Westinghouse Electric Corporation , Koppers ,
7104-505: The national debt of the United States in the aftermath of World War I . Mellon also helped fund and manage Kennywood Park in West Mifflin , Pennsylvania. Andrew began working at his father's Pittsburgh , Pennsylvania, bank, T. Mellon & Sons , in the early 1870s, eventually becoming the leading figure in the institution. He later renamed T. Mellon & Sons as Mellon National Bank and established another financial institution,
7252-489: The "Mellon plan" was fully realized. He also presided over a reduction in the national debt, which dropped substantially in the 1920s. Mellon's influence in state and national politics reached its zenith during Coolidge's presidency. Journalist William Allen White noted that "so completely did Andrew Mellon dominate the White House in the days when the Coolidge administration was at its zenith that it would be fair to call
7400-551: The "single most significant individual in the economic life and progress of western Pennsylvania" in the first decade of the 20th century. The Panic of 1907 devastated several companies based in Pittsburgh, ending a period of strong growth. Some of Mellon's investments experienced a sustained down period after 1907, but most experienced a quick recovery. Mellon also became an investor in George Westinghouse 's Westinghouse Electric Corporation after he helped prevent
7548-518: The 1924 elections, it immediately began working on another bill designed to lower tax rates on the highest earners. In February 1926, Coolidge signed the Revenue Act of 1926 , which reduced the top marginal rate to 25%. Mellon was extremely pleased by the passage of the act, because, unlike the Revenue Act of 1921 and the Revenue Act of 1924, the Revenue Act of 1926 closely reflected Mellon's proposals. In addition to cutting tax rates on top earners,
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#17328025548467696-806: The 1933 elections, and the following year Democrat Joseph F. Guffey won Pennsylvania's Senate election and George Howard Earle III won the state's gubernatorial election. Mellon endured numerous attacks during these campaigns, and his unpopularity in Pittsburgh led him to spend most of his final years in Washington rather than his home town. In the 1930s, the Roosevelt administration conducted several high-profile tax evasion prosecutions against individuals such as Thomas W. Lamont and Jimmy Walker . In response to accusations levied by Republican Congressman Louis Thomas McFadden of Pennsylvania in early 1933, Attorney General Homer Cummings began an inquiry into Mellon's tax history. Between February 1935 and May 1936,
7844-476: The Board of Tax Appeals heard a widely covered case in which the federal government accused Mellon of tax fraud. During the proceedings, Mellon divulged numerous details of his business career that had previously been unknown to the public. Mellon was diagnosed with cancer in November 1936. His health declined in 1937, and he died on August 26, 1937. Newspapers across the country took note of his death. Secretary of
7992-631: The British to allow Gulf Oil to operate in Kuwait , a British protectorate in the oil-rich region of the Persian Gulf . Defying Mellon's expectations, Hoover was defeated by Franklin D. Roosevelt in the 1932 presidential election . Mellon left office when Hoover's term ended in March 1933, returning to private life after twelve years of government service. Knox and Penrose both died in 1921, leaving
8140-571: The Federal Reserve Board raised the discount rate to six percent. The higher rate failed to curb speculation, and the activity on the stock market continued to grow. In October 1929, the New York Stock Exchange suffered the worst crash in its history in what was called " Black Tuesday ". As the vast majority of Americans did not own shares in the stock market, the crash did not immediately have disastrous effects on
8288-403: The Federal Reserve Board to lower interest rates in 1921 and 1924; lower interest rates contributed to a booming economy, but they also encouraged stock market speculation. In 1928, responding to increasing fears of the dangers of speculation and a booming stock market, the Federal Reserve Board began raising interest rates. Mellon favored another interest rate increase in 1929, and in August 1929
8436-607: The Mellon banks flourished in the first years of the 20th century. While Mellon's financial empire prospered, his investments in other areas, including Pittsburgh's streetcar network, the Union Steel Company (which was bought out by U.S. Steel ), and the Carborundum Company, also paid off handsomely. Another successful Mellon investment, the Standard Steel Car Company , was created in partnership with three former U.S. Steel executives. As part of
8584-440: The Mellon family to function journalistically on a national scale". The group of original owners invested around US$ 2.5 million (equivalent to $ 58.84 million in 2023). Other large stockholders prior to 1946 were public utilities investment banker Stanley Childs and Wall Street corporate lawyer Wilton Lloyd-Smith. Journalist Samuel T. Williamson served as the first editor-in-chief of News-Week . The first issue of
8732-512: The November 23, 2009 issue discussing Palin's book, Going Rogue: An American Life . "It's sexist as hell", wrote Lisa Richardson for the Los Angeles Times . Taylor Marsh of The Huffington Post called it "the worst case of pictorial sexism aimed at political character assassination ever done by a traditional media outlet". David Brody of CBN News stated: "This cover should be insulting to women politicians." The cover includes
8880-416: The Republican Party. Mellon sought to reform federal taxation in the aftermath of World War I. He argued cutting tax rates on top earners would generate more tax revenue for the government, but otherwise left in place a progressive income tax . Some of Mellon's proposals were enacted by the Revenue Act of 1921 and the Revenue Act of 1924 , but it was not until the passage of the Revenue Act of 1926 that
9028-525: The Republican Party. Unlike the progressives in his party, Mellon rejected the redistributive nature of the taxation system that had been left in place by the Wilson administration. Owing in part to the high debts left over from the war, Mellon did not join with some conservatives in the party, who favored the virtual abolition of the income tax in favor of high tariff rates, excise taxes, a national sales tax, or some combination thereof. Mellon instead advocated
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#17328025548469176-544: The Republican nomination on the first ballot of the convention, and he went on to defeat Al Smith in the 1928 presidential election . Defying widespread expectations that he would retire, Mellon chose to stay on as Secretary of the Treasury. Along with Secretary of Agriculture James Wilson and Secretary of Labor James J. Davis , Mellon is one of only three cabinet members to serve in the same post under three consecutive presidents. Secretary Mellon had helped persuade
9324-620: The Republicans campaigned on further tax cuts, while both the Democrats and third-party candidate Robert La Follette denounced Mellon's tax proposals as "a device to relieve multi-millionaires at the expense of other taxpayers". Buoyed by the strong economy, and overcoming the scandals of the Harding years , Coolidge won re-election by a decisive margin. Coolidge saw his victory as a mandate to pursue his favored economic policies, including further tax cuts. When Congress reconvened after
9472-438: The Treasury Henry Morgenthau Jr. stated that Mellon had lived through "an epoch in the economic history of the nation, and his passing takes one of the most important industrial and financial figures of our time." Months after Mellon's death, the Board of Tax Appeals handed down a ruling exonerating Mellon of all tax fraud charges. In the early 1880s, Mellon had a serious relationship with Fannie Larimer Jones, but he broke off
9620-493: The Treasury Department to his deputy, Ogden L. Mills . After the 1926 elections, Mellon and Mills sought to cut the corporate tax and fully repeal the estate tax. The Revenue Act of 1928 did indeed cut the corporate tax, but the estate tax was left unchanged. Mellon also focused on the construction of new federal buildings, and his efforts led to the construction of several buildings in the Federal Triangle . In 1928, Mellon stated that "in no other nation, and at no other time in
9768-671: The Treasury. His character is played by Carnegie Mellon alumnus James Cromwell . In the alternate history / time travel story "A Slip in Time" by S. M. Stirling , featuring a history in which the First World War was avoided and the Austro-Hungarian Empire survived, Andrew Mellon was the President of the United States in 1926. Mellon is the subject of three unflattering chapters in Matt Stoller's 2019 book, Goliath: The 100 Year War Between Monopoly Power and Democracy , which recounts efforts by populists in Washington (namely, Congressman Wright Patman ; Roosevelt administration lawyer Robert H. Jackson ; and Ferdinand Pecora , attorney for
9916-450: The U.S. economy as a whole. Mellon had little sympathy for the speculators who lost their money, and he was philosophically opposed to an interventionist economic policy designed to address the stock market crash. Nonetheless, Mellon immediately began calling for cuts to the discount rate, which would reach two percent in mid-1930, and successfully urged Congress to pass a bill providing for temporary, across-the-board tax cuts. Mellon supported
10064-497: The United States and France agreed to the Mellon-Berenger Agreement , which reduced France's debt and set terms for repayment. Coolidge surprised many observers by announcing that he would not seek another term in August 1927. The decision left Hoover as the presumed front-runner for the 1928 presidential election , but many conservatives within the party opposed Hoover's candidacy. The conservative resistance to Hoover centered around Mellon, who controlled Pennsylvania's delegation at
10212-458: The United States, second only to Hoover himself. Facing this unprecedented economic catastrophe, Mellon urged Hoover to refrain from using the government to intervene in the depression. Mellon believed that economic recessions, such as those that had occurred in 1873 and 1907, were a necessary part of the business cycle because they purged the economy. In his memoirs, Hoover wrote that Mellon advised him to "liquidate labor, liquidate stocks, liquidate
10360-628: The act also raised the personal exemption for federal income taxes, abolished the gift tax , reduced the estate tax rate, and repealed a provision that had required the public disclosure of federal income tax returns. Meanwhile, the booming economy fostered a $ 400 million budget surplus in 1926, and the country's national debt dropped from $ 24 billion in early 1921 to $ 19.6 billion at the end of fiscal year 1926. Government revenues increased considerably under Mellon's plan, largely collected from higher-income earners. With his top priority of tax reform accomplished, Mellon increasingly turned over management of
10508-465: The administration the reign of Coolidge and Mellon." Mellon's national reputation collapsed following the Wall Street Crash of 1929 and the onset of the Great Depression . He participated in various efforts by the Hoover administration to revive the economy and maintain the international economic order, but opposed direct government intervention in the economy. After Congress began impeachment proceedings against Mellon, President Hoover shifted Mellon to
10656-501: The aftermath of World War I, he provided financial support to Henry Cabot Lodge and other Republicans in their successful campaign to prevent ratification of the Treaty of Versailles . Mellon attended the 1920 Republican National Convention as a nominal supporter of Pennsylvania Governor William Cameron Sproul (Mellon hoped Senator Philander Knox would win the nomination), but the convention chose Senator Warren G. Harding of Ohio as
10804-661: The aftermath of the Spanish–American War , Mellon and Frick also became major shareholders in the New York Shipbuilding Corporation . In 1902, Mellon reorganized T. Mellon & Sons as the Mellon National Bank, a federally chartered National Bank. Andrew Mellon, Richard Mellon, and Frick drew up a new business arrangement in which the three of them jointly controlled the Union Trust Company, which in turn controlled Mellon National Bank. They also established Union Savings Bank, which accepted deposits by mail, and
10952-668: The businesses he ran were still fairly small in the 1890s; T. Mellon & Sons employed seven individuals in 1895. In 1889, Mellon agreed to loan $ 25,000 to the Pittsburgh Reduction Company, a fledgling operation seeking to become the first successful industrial producer of aluminum. Mellon became a director of the company in 1891, and he and Richard played a major role in the establishment of aluminum factories in New Kensington, Pennsylvania , and Niagara Falls, New York . The company would emerge as one of
11100-618: The cancellation of European debts from World War I but recognized that Britain and other countries would be unable to pay those debts without a renegotiation of terms. In 1923, Mellon and British Chancellor of the Exchequer Stanley Baldwin negotiated an agreement in which Britain promised to pay off the debts over a 62-year period. After the adoption of the Dawes Plan , Mellon reached debt settlements with several other European countries. After protracted negotiations,
11248-608: The cessation of print publication and a transition to an all-digital format at the end of 2012. In 2013, IBT Media acquired Newsweek from IAC; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast . IBT Media, which also owns the International Business Times , rebranded itself as Newsweek Media Group, and in 2014, relaunched Newsweek in both print and digital form. In 2018, IBT Media split into two companies, Newsweek Publishing and IBT Media. The split
11396-437: The chairman of the board and its principal stockholder between 1937 and his death in 1959. In 1937 Malcolm Muir took over as president and editor-in-chief. He changed the name to Newsweek , emphasized interpretive stories, introduced signed columns, and launched international editions. The magazine was purchased by The Washington Post Company in 1961. Osborn Elliott was named editor of Newsweek in 1961 and became
11544-467: The club bore no legal responsibility for the flood. Mellon did not publicly comment on the flood, though he did donate $ 1,000 to a relief fund. By the late 1890s, Mellon had amassed a substantial fortune, but his wealth paled in comparison to that of better-known business leaders such as John D. Rockefeller . In the late 1890s, the Union Trust Company emerged for the first time as one of Mellon's most important and profitable holdings after Mellon broadened
11692-415: The coal production of the United States. With Frick, Richard Mellon, and William Donner , Mellon co-founded Union Steel Company, which specialized in the production of nails and barbed wire . Though Frick had fallen out with steel magnate and long-time business partner Andrew Carnegie , Mellon received Carnegie's consent to venture into the steel industry. Responding to the growing emphasis on naval power in
11840-461: The coalition of Democrats and progressive Republicans that exercised effective control over the 68th Congress . In February 1924, the House Ways and Means Committee approved of a bill based on Mellon's plan, but an alliance of progressive Republicans and Democrats engineered passage of an alternative tax bill written by Democrat John Nance Garner ; Garner's plan also reduced income taxes but set
11988-508: The company from going into bankruptcy. By the end of 1913, Mellon National Bank held more money in deposits than any other bank in Pittsburgh, and the Farmer's Deposit National Bank, which held the second-largest amount of deposits, was controlled by Mellon's Union Trust Company. In 1914, Mellon became a co-owner of Koppers , which produced a more sophisticated coking oven than the one that had earlier been pioneered by Frick. He also served as
12136-629: The company to secure a medicinal permit during Prohibition. This permit allowed Overholt to sell existing whiskey stocks to druggists for medicinal use. When Frick died in December 1919, he left his share to Mellon. In 1925, under pressure from prohibitionists, Mellon sold his share of the company to a New York grocer. Like his father, Mellon consistently supported the Republican Party, and he frequently donated to state and local party leaders. Through state party boss Matthew Quay , Mellon influenced legislators to place high tariffs on aluminum products in
12284-517: The company's activities to include commercial banking. With an infusion of capital from Union Trust, Mellon underwrote the capitalization of National Glass and several other companies. He also became a co-owner of the McClintic-Marshall Construction Company and established Crucible Steel Company, the Pittsburgh Coal Company , and the Monongahela River Coal Company ; the two coal companies collectively contributed 11 percent of
12432-491: The couple married in 1900. Nora gave birth to a daughter, Ailsa , in 1901. Nora disliked living in Pittsburgh, and she was unhappy in her marriage. By the end of 1903, she had begun an affair with Alfred George Curphey, who would also later be involved with the wife of George Vivian, 4th Baron Vivian . Mellon and Nora eventually reconciled, and in 1907 she gave birth to a son, Paul . The reconciliation proved short-lived, as Nora took up with Curphey again in 1908 and requested
12580-449: The economy went into a deep slump, as gross national product declined dramatically, and numerous workers lost their jobs. While numerous banks failed, Democrats won control of Congress in the 1930 mid-term elections . As the economy declined, so did Mellon's popularity, which was further damaged by his opposition to another bonus bill for veterans. In mid-1931, the country entered a deep depression, and, at Hoover's request, Mellon negotiated
12728-413: The editor-in-chief in 1969. In 1970, Eleanor Holmes Norton represented sixty female employees of Newsweek who had filed a claim with the Equal Employment Opportunity Commission that Newsweek had a policy of allowing only men to be reporters. The women won and Newsweek agreed to allow women to be reporters. The day the claim was filed, Newsweek 's cover article was "Women in Revolt", covering
12876-600: The establishment of the National Portrait Gallery , which also hosts several paintings donated by Mellon. Mellon was initiated to the Scottish Rite Freemasonry, till he raised the 33rd and highest degree. The Andrew W. Mellon Memorial Fountain in Washington was created by Sidney Waugh and was dedicated in May 1952 by Harry S. Truman . Washington, D.C., also hosts the Andrew W. Mellon Auditorium and
13024-417: The farmers, liquidate real estate. Purge the rottenness out of the system. High costs of living and high living will come down. ... enterprising people will pick up the wrecks from less competent people." Facing a large deficit, Mellon and Mills called for a return to the tax rates set by the Revenue Act of 1924 and also sought new taxes on automobiles, gasoline, and other items. Congress responded by passing
13172-541: The federal government would pay for the institution's upkeep. He conditioned the offer on the establishment of a board of trustees, a majority of whom would be chosen by Mellon. Despite the ongoing tax case against Mellon, the Roosevelt administration accepted the offer, and Congress passed legislation authorizing the construction of the National Gallery of Art on Mellon's terms. The National Gallery of Art opened in 1941 and continues to operate. Mellon's friend and former employee, David E. Finley Jr. , would later preside over
13320-459: The feminist movement; the article was written by a woman who had been hired on a freelance basis since there were no female reporters at the magazine. Edward Kosner became editor from 1975 to 1979 after directing the magazine's extensive coverage of the Watergate scandal that led to the resignation of President Richard Nixon in 1974. Richard M. Smith became chairman in 1998, the year that
13468-598: The head of the Mellon financial empire. Emulating his father, Mellon eschewed philanthropy for much of his life, but in the early 1900s, he began donating to local organizations such as the YMCA . Mellon committed to his first large-scale act of philanthropy in 1913, when he and his brother, Richard, established the Mellon Institute of Industrial Research as a department of the University of Pittsburgh. In 1967,
13616-602: The highest in its 90-year history. Harvard Business School published a case study of the company in 2021. News-Week was launched in 1933 by Thomas J. C. Martyn , a former foreign-news editor for Time . He obtained financial backing from a group of U.S. stockholders "which included Ward Cheney , of the Cheney silk family, John Hay Whitney , and Paul Mellon , son of Andrew W. Mellon ". Paul Mellon's ownership in News-Week apparently represented "the first attempt of
13764-619: The history of the world, have so many people enjoyed such a high degree of prosperity or maintained a standard of living comparable to that which prevails throughout this country today." Responsibility for foreign relations lay with the State Department rather than the Treasury Department, and Benjamin Strong Jr. and other central bankers took the lead with regard to international monetary policy, but Mellon nonetheless exercised some influence in foreign affairs. He strongly opposed
13912-480: The idea of asset liquidation to balance budgets, even if it meant shutting down entire industries. By mid-1930, many, including Mellon, believed that the economy had already experienced the worst effects of the stock market crash. He did not object to the Smoot–Hawley Tariff Act , which raised tariff rates to one of the highest levels in U.S. history. Despite the optimism of Hoover and Mellon, in late 1930
14060-492: The increasing difficulty of maintaining a paper weekly magazine in the face of declining advertising and subscription revenues and increasing costs for print production and distribution. The online edition was renamed Newsweek Global . In April 2013, IAC chairman and founder Barry Diller said at the Milken Global Conference that he "wished he hadn't bought" Newsweek because his company had lost money on
14208-424: The inference that the people faced a death sentence. In October 2023, Newsweek incorrectly reported that a viral video of U.S. senator Tommy Tuberville falling down a flight of stairs while exiting an airplane had been recorded that month. The reporting by Newsweek drew comparisons to Tuberville's criticism of President Joe Biden similarly tripping on stairways. In reality, the video highlighted by Newsweek
14356-640: The institute merged with the Carnegie Institute of Technology to form Carnegie Mellon University . Mellon also served as an alumni president and trustee of the University of Pittsburgh, and made several major donations to the school, including the land on which the Cathedral of Learning and Heinz Chapel were constructed. In total it is estimated that Mellon donated over $ 43 million to the University of Pittsburgh. Encouraged by Frick and guided by Charles Carstairs , Mellon began collecting art in
14504-544: The larger banks that was designed to assist failing institutions. As the National Credit Association proved to be ineffective at stemming the tide of bank failures, Congress and the Hoover administration established the Reconstruction Finance Corporation to provide federal loans to banks. With the unemployment rate approaching twenty percent, Mellon became one of the most "loathed leaders" in
14652-544: The leader of a Christian sect called "the Community". In February 2018, under IBT ownership, several Newsweek staff were fired and some resigned stating that management had tried to interfere in articles about the investigations. Fareed Zakaria , a Newsweek columnist and editor of Newsweek International , attended a secret meeting on November 29, 2001, with a dozen policy makers, Middle East experts and members of influential policy research organizations that produced
14800-898: The list; these are categorized instead as "Public Elite" High Schools. In 2008, there were 17 Public Elites. Smith resigned as board chairman in December 2007. During 2008–2009, Newsweek undertook a dramatic business restructuring. Citing difficulties in competing with online news sources to provide unique news in a weekly publication, the magazine refocused its content on opinion and commentary beginning with its May 24, 2009, issue. It shrank its subscriber rate base, from 3.1 million to 2.6 million in early 2008, to 1.9 million in July 2009 and then to 1.5 million in January 2010—a decline of 50% in one year. Jon Meacham , Editor-in-chief from 2006 to 2010, described his strategy as "counterintuitive" as it involved discouraging renewals and nearly doubling subscription prices as it sought
14948-414: The magazine and called the purchase a "mistake" and a " fool's errand ". On August 3, 2013, IBT Media acquired Newsweek from IAC on terms that were not disclosed; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast . On March 7, 2014, IBT Media relaunched a print edition of Newsweek with a cover story on the alleged creator of Bitcoin that
15096-451: The magazine capable of handling the assignment. Those passed over included Elizabeth Peer , who had spent five years in Paris as a foreign correspondent. The 1986 cover of Newsweek featured an article that said "women who weren't married by 40 had a better chance of being killed by a terrorist than of finding a husband". Newsweek eventually apologized for the story and in 2010 launched
15244-584: The magazine inaugurated its "Best High Schools in America" list, a ranking of public secondary schools based on the Challenge Index , which measures the ratio of Advanced Placement or International Baccalaureate exams taken by students to the number of graduating students that year, regardless of the scores earned by students or the difficulty in graduating. Schools with average SAT scores above 1300 or average ACT scores above 27 are excluded from
15392-488: The magazine was dated February 17, 1933. Seven photographs from the week's news were printed on the first issue's cover. In 1937, News-Week merged with the weekly journal Today , which had been founded in 1932 by future New York Governor and diplomat W. Averell Harriman , and Vincent Astor of the prominent Astor family. As a result of the deal, Harriman and Astor provided $ 600,000 (equivalent to $ 12,717,000 in 2023) in venture capital funds and Vincent Astor became both
15540-437: The magazine was forced to recall several hundred thousand copies of a special issue called Your Child , which advised that infants as young as five months old could safely feed themselves zwieback toasts and chunks of raw carrot (to the contrary, both represent a choking hazard in children this young). The error was later attributed to a copy editor who was working on two stories at the same time. In 2017, Newsweek published
15688-547: The magazine's financial liabilities. Harman's bid was accepted over three competitors. Meacham left the magazine upon completion of the sale. Sidney Harman was the husband of Jane Harman , at that time a member of Congress from California. At the end of 2010, Newsweek merged with the online publication The Daily Beast , following extensive negotiations between the respective proprietors. Tina Brown , The Daily Beast 's editor-in-chief, became editor of both publications. The new entity, The Newsweek Daily Beast Company ,
15836-417: The major decisions of the Mellon business empire during his time in public service, and he occasionally lobbied congressmen on behalf of his businesses. His fortune continued to grow, and at one point in the 1920s he paid more in federal income tax than any other individual save John Rockefeller and Henry Ford . As Treasury Secretary, Mellon focused on balancing the budget and paying off World War I debts in
15984-493: The media. Nora went so far to contest the divorce that she made an appeal to King George of England and parliament. In 1912, Mellon and Nora finally agreed on a divorce settlement, largely on Mellon's terms. Mellon did not remarry. Nora lived in Pittsburgh for several years before eventually settling in the Hudson Valley , and the two children alternated living with either parent. In 1923, Nora married Harvey Arthur Lee,
16132-514: The meeting signed confidentiality agreements not to discuss what happened. Zakaria told The New York Times that he attended the meeting for several hours but did not recall being told that a report for the president would be produced. On October 21, 2006, after verification, the Times published a correction that stated: An article in Business Day on October 9 about journalists who attended
16280-473: The mid-to-late 1890s. Over the ensuing decades, his art collection continued to grow as he purchased pieces from Knoedler and Joseph Duveen , and during the 1920s his collection was generally considered to be one of the finest art collections in Washington. In the early 1930s, he purchased, according to Cannadine, just under half of the "greatest paintings" from the Soviet Union 's Hermitage Museum in
16428-485: The midst of the Depression of 1920–21 ; he was largely unconcerned with international affairs and economic matters such as the unemployment rate. To Mellon's chagrin, his department was charged with enforcing Prohibition; he did not believe in teetotaling himself and viewed the law as unenforceable. Aside from balancing the budget, Mellon's top priority was an overhaul of the federal tax code. The income tax had become
16576-645: The most profitable ventures invested in by the Mellons, and in 1907 it was renamed Alcoa . Moving into the petroleum industry, the Mellon family also established the Crescent Oil Company, the Crescent Pipeline Company, and the Bear Creek refinery. By 1894, the Mellon family's vertically integrated companies produced ten percent of the oil exported by the United States. Partly due to the difficult economic conditions caused by
16724-459: The nation's capital had witnessed" since before World War I, Ailsa married David K. E. Bruce , son of Democratic Senator William Cabell Bruce of Maryland. After attending Yale University and the University of Cambridge , Paul briefly worked at Mellon National Bank. He later settled in Virginia, becoming a well-known philanthropist. Mellon's nephew, Richard King Mellon , succeeded Andrew as
16872-508: The necessity for further tax cuts. William Allen White , a contemporary journalist, stated that "so completely did Andrew Mellon dominate the White House in the days when the Coolidge administration was at its zenith that it would be fair to call the administration the reign of Coolidge and Mellon." Coolidge, Mellon, business organizations, and administration allies conducted a publicity campaign designed to convince wavering congressmen to support Mellon's tax plan. Their efforts were opposed by
17020-405: The onset of the Panic of 1893 , in 1895 the Mellons sold their oil interests to Standard Oil . At roughly the same time they were selling their oil concerns, Andrew and Richard invested in the Carborundum Company, a producer of silicon carbide . The brothers gained majority ownership of the Carborundum Company in 1898 and replaced the company's founder and president, Edward Goodrich Acheson , with
17168-439: The party's presidential nominee. Mellon strongly approved of the party's conservative platform, and he served as a key fundraiser for Harding during the presidential campaign. Following Harding's victory in the 1920 presidential election, Harding considered various candidates for Secretary of the Treasury, including Frank Lowden , John W. Weeks , Charles Dawes , and, at the urging of Senator Knox, Andrew Mellon. By 1920, Mellon
17316-469: The past two years and was put up for sale. The sale attracted international bidders. One bidder was Syrian entrepreneur Abdulsalam Haykal, CEO of Syrian publishing company Haykal Media, who brought together a coalition of Middle Eastern investors with his company. Haykal later claimed his bid was ignored by Newsweek 's bankers, Allen & Co . The magazine was sold to audio pioneer Sidney Harman on August 2, 2010, for US$ 1 in exchange for assuming
17464-439: The position of United States ambassador to the United Kingdom . Mellon returned to private life after Hoover's defeat in the 1932 presidential election by Franklin D. Roosevelt . Beginning in 1933, the federal government launched a tax fraud investigation on Mellon, leading to a high-profile case that ended with Mellon's estate paying significant sums to settle the matter. Shortly before his death, in 1937, Mellon helped establish
17612-544: The position of ambassador to the United Kingdom . Mellon accepted the post, and Mills replaced his former boss as Secretary of the Treasury. Mellon arrived in Britain in April 1932, receiving a friendly reception from a country he had often visited over the previous thirty years. From his post, he watched the collapse of the international economic order, including the debt accords that he had helped negotiate. He also convinced
17760-416: The press generally referred to it as the "Mellon Plan". The Revenue Act of 1918 had set a top marginal income tax rate of 73% and a corporate tax of approximately 10%. Due in part to the size of the U.S. public debt, which had grown from $ 1 billion before the war to $ 24 billion in 1921, the provisions of the Revenue Act of 1918 remained in place when Harding took office. In 1921, the Treasury Department and
17908-570: The probe "focused on loans the company took out to purchase the computer equipment", and several Newsweek reporters were fired after reporting on the issue. Uzac pleaded guilty to fraud and money-laundering in 2020. In September 2018, after completing the strategic structural changes introduced in March of the same year, IBT Media spun off Newsweek into its own entity, Newsweek Publishing LLC, with co-ownership to Dev Pragad and Johnathan Davis of IBT Media. In 2020, Newsweek' s website hit 100 million unique monthly readers, up from seven million at
18056-603: The process. In 2024, it rolled out an AI video production tool and started hiring an AI-focused breaking news team. In 2003, worldwide circulation was more than 4 million, including 2.7 million in the U.S; by 2010 it reduced to 1.5 million (with newsstand sales declining to just over 40,000 copies per week). Newsweek publishes editions in Japanese, Korean, Polish, Romanian, Spanish, Rioplatense Spanish , Arabic , Turkish , Serbian, as well as an English-language Newsweek International . Russian Newsweek , published since 2004,
18204-587: The prosperity of the Roaring Twenties , Mellon emerged as one of the most renowned figures in the Harding administration. One admiring congressman referred to Mellon as the "greatest Secretary of the Treasury since Alexander Hamilton ". Harding died after suffering a stroke in August 1923, and he was succeeded by Vice President Calvin Coolidge . Mellon enjoyed closer relations with President Coolidge than he had with President Harding, and Coolidge and Mellon shared similar views on most major issues, including
18352-402: The publication was likely to go digital to cover its losses and could undergo other changes by the next year. Barry Diller , chairman of the conglomerate IAC/InterActiveCorp, said his firm was looking at options since its partner in the Newsweek / Daily Beast operation had pulled out. At the end of 2012, the company discontinued the American print edition after 80 years of publication, citing
18500-408: The relationship after learning that she was suffering from tuberculosis . After this experience, Mellon refrained from courting women for several years. In 1898, while traveling with Frick and Frick's wife to Europe, Mellon met Nora McMullen, a nineteen-year-old Englishwoman of Ulster Scots ancestry. Mellon visited McMullen's home of Hertford Castle in 1898 and 1899, and, after a period of courtship,
18648-419: The reporters later incorporate more-or-less directly into their stories, often without adaptation ("rewrite"), and always without attribution ("byline"), yet they are paid considerably less. These women have a sense that they're paid a lot less, and during the series it emerges just how much lower their pay is (about one-third of their colleague reporter's salary). But also at issue is the fact that their writing
18796-422: The retention of a progressive income tax that would serve as an important, but not primary, source of revenue for the federal government. His so-called "scientific taxation" was designed to maximize federal revenue while minimizing the impact on business and industry. The central tenet of Mellon's tax plan was a reduction of the surtax, a progressive tax that affected only high-income earners. Mellon argued that such
18944-578: The social stigma of unwed women in Asia called sheng nu . Former Alaska Governor and 2008 Republican vice presidential nominee Sarah Palin was featured on the cover of the November 23, 2009, issue of Newsweek , with the caption "How do you Solve a Problem Like Sarah?" featuring an image of Palin in athletic attire and posing. Palin herself, the Los Angeles Times and other commentators accused Newsweek of sexism for their choice of cover in
19092-468: The start of 2017. In 2021, its revenues doubled to $ 75 million and traffic increased to 48 million monthly unique visitors in May 2022 from about 30 million in May 2019 according to Comscore. In September 2023, Newsweek announced it would be making use of generative AI in its operations. Its AI policy states that generative AI can be used in "writing, research, editing, and other core journalism functions" as long as journalists are involved throughout
19240-445: The state Republican Party. Numerous financial institutions failed in the months prior to Roosevelt's inauguration, but Mellon National Bank, the Union Trust Company, and another Mellon banking operation, Mellbank Corporation, were all able to avoid closure. Mellon strongly opposed Roosevelt's New Deal policies, especially the 1933 Banking Act , which required separation between commercial and investment banking. Mellon believed that
19388-419: The title "Taylor Swift Is Not a Good Role Model", which claimed that American singer-songwriter Taylor Swift was a bad role model for young girls due to being unmarried, childless and having been in multiple relationships. The article was condemned as sexist, including by tennis player Martina Navratilova . Unlike most large American magazines, Newsweek has not used fact-checkers since 1996. In 1997,
19536-455: The top marginal tax rate at 46% rather than Mellon's preferred 33%. In June 1924, Coolidge signed the Revenue Act of 1924 , which contained the income tax rates of Garner's bill and also increased the estate tax . Coolidge signed the bill but simultaneously called for further tax cuts. Congress also rejected Mellon's proposed constitutional amendment that would have barred the issuance of tax-exempt securities and, over Coolidge's veto, authorized
19684-412: The various New Deal policies, including Social Security and unemployment insurance , undermined the free market system that had produced one of the largest economies in the world. Aside from banking reform, other New Deal policies, including regulations on utilities and coal mines and laws designed to promote labor unions, also affected Mellon's business empire. Additionally, the Revenue Act of 1934 and
19832-429: The week with a brief article accompanying each one. The "NewsBeast" section featured short articles, a brief interview with a newsmaker, and several graphs and charts for quick reading in the style of The Daily Beast . This is where the Newsweek staple "Conventional Wisdom" was located. Brown retained Newsweek 's focus on in-depth, analytical features and original reporting on politics and world affairs, as well as
19980-454: Was 50% owned by IAC/InterActiveCorp and 50% by Harman. Newsweek was redesigned in March 2011. The new Newsweek moved the "Perspectives" section to the front of the magazine, where it served essentially as a highlight reel of the past week on The Daily Beast . More room was made available in the front of the magazine for columnists, editors, and special guests. A new "News Gallery" section featured two-page spreads of photographs from
20128-526: Was accomplished one day before the District Attorney of Manhattan indicted Etienne Uzac, the co-owner of IBT Media, on fraud charges. Under Newsweek ' s current co-owner and CEO Dev Pragad, it is profitable, growing 20–30% per year; between May 2019 and May 2022, its monthly unique visitors rose from about 30 million to 48 million according to Comscore . Since Pragad became CEO in 2016, readership has grown to 100 million readers per month,
20276-542: Was an American banker, businessman, industrialist, philanthropist, art collector, and politician. The son of Mellon family patriarch Thomas Mellon , he established a vast business empire before moving into politics. He served as United States Secretary of the Treasury from March 9, 1921, to February 12, 1932, presiding over the boom years of the 1920s and the Wall Street Crash of 1929 . A conservative Republican , Mellon favored policies that reduced taxation and
20424-520: Was challenged by William Scott Vare of Philadelphia and progressive leader Gifford Pinchot , who won the 1922 Pennsylvania gubernatorial election. Nonetheless, Mellon would continue to exert an important influence on Pennsylvania politics throughout the 1920s, especially in senatorial elections and in Allegheny County. Mellon's influence over state politics waned in the early 1930s, as the progressive allies of Governor Pinchot took control of
20572-592: Was criticized for lacking substantive evidence. The magazine stood by its story. IBT Media announced that the publication returned to profitability on October 8, 2014. In February 2017, IBT Media appointed Matt McAllester, then editor of Newsweek International , as global editor-in-chief of Newsweek . In January 2018, Newsweek offices were raided by the Manhattan District Attorney 's office as part of an investigation into co-owner and founder, Etienne Uzac. Columbia Journalism Review noted
20720-411: Was displeased by the bill. He also strongly disapproved of a "Bonus Bill" passed by Congress that would provide for additional compensation to veterans of World War I, partly because he feared it would interfere with his plans to reduce debt and taxes. With Mellon's support, Harding vetoed the bill, and Congress failed to override the veto. As the economy recovered from recession and began to experience
20868-433: Was down 37% in 2009 and the magazine division reported an operating loss for 2009 of US$ 29.3 million (equivalent to $ 41.61 million in 2023) compared to a loss of US$ 16 million in 2008 (equivalent to $ 22.64 million in 2023). During the first quarter of 2010, the magazine lost nearly US$ 11 million (equivalent to $ 15.37 million in 2023). By May 2010, Newsweek had been losing money for
21016-565: Was featured on the cover of Newsweek magazine in August 2011, dubbed "the Queen of Rage". The photo of her was perceived as unflattering, as it portrayed her with a wide eyed expression some said made her look "crazy". Conservative commentator Michelle Malkin called the depiction "sexist", and Sarah Palin denounced the publication. Newsweek defended the cover's depiction of her, saying its other photos of Bachmann showed similar intensity. In June 2024, Newsweek published an opinion piece with
21164-478: Was filmed in 2014, nine years prior, before Tuberville's tenure as senator. The Manhattan District Attorney 's office raided Newsweek 's headquarters in Lower Manhattan on January 18, 2018, and seized 18 computer servers as part of an investigation related to the company's finances. IBT, which owned Newsweek at the time, had been under scrutiny for its ties to David Jang , a South Korean pastor and
21312-430: Was given power of attorney to direct the operations of the bank. That same year, Thomas introduced his son to Henry Clay Frick , a customer of the bank who would become one of Mellons's closest friends. In 1882, Thomas turned over full ownership of the bank to his son, but Thomas continued to be involved in the bank's activities. Five years later, Mellon's younger brother, Richard B. Mellon , joined T. Mellon & Sons as
21460-497: Was little-known outside of banking circles, but his potential appointment to the cabinet received strong support from bankers and Pennsylvania Republican leaders like Knox, Senator Boies Penrose , and Governor Sproul. Mellon was reluctant to enter public life due to concerns about privacy and a belief that his ownership of various businesses, including Old Overholt distillery, would be a political liability. But Mellon also wanted to retire from active participation in business, and he saw
21608-624: Was shut in October 2010. The Bulletin (an Australian weekly until 2008) incorporated an international news section from Newsweek . Based in New York City, the magazine claimed 22 bureaus in 2011: nine in the U.S.: New York City, Los Angeles, Chicago/Detroit, Dallas, Miami, Washington, D.C., Boston and San Francisco, and others overseas in London, Paris, Berlin, Moscow, Jerusalem , Baghdad , Tokyo, Hong Kong, Beijing, South Asia , Cape Town , Mexico City and Buenos Aires . According to
21756-404: Was too old to seek the presidency. Mellon attempted to convince Coolidge or Charles Evans Hughes to run, but neither heeded his appeals. In the months before the 1928 Republican Convention, Mellon maintained his neutrality in the presidential race, but with no compelling alternative Republican candidate willing to run, Mellon finally threw his support behind Hoover. With Mellon's backing, Hoover won
21904-477: Was widely shared on social media, including by actresses Trudie Styler , Sophie Turner and Viola Davis , and Canadian prime minister Justin Trudeau . The number was actually derived from estimates from a United Nations human rights rapporteur and other human rights organizations of how many people were detained in Iran in connection with the protests, and Newsweek later retracted the underlying claim leading to
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