13 janeiro 2003

'NY Times' Revises Employee Ethics Policy: A revised ethics policy at The New York Times that places additional limitations on stock ownership by reporters - and bars top editors from owning stock in any company other than the newspaper's parent - takes effect this week, E&P has learned, and appears likely to cause ripples elsewhere. The tighter restrictions, which also clamp down on editorial staffers contributing or taking part in political activities, follow two years of review that included negotiations with Local 3, The Newspaper Guild of New York.
While the 38-page policy covers ethical issues related to everything from freelance work to awards-program participation, the major changes involve stock ownership and involvement in public life, said William Schmidt, the Times associate managing editor who oversaw the review.
Under the old policy, only some business-section employees were barred from owning stock in companies on which they directly reported. The revised policy bars all staff members from having a financial interest in an entity that they cover regularly, as a reporter or as an editor. "Information moves markets," said Schmidt.
A Pentagon reporter, for example, would not be allowed to own any defense-related stocks.
The policy also forbids any editors who appear on the masthead, columnists, and Op-Ed writers who regularly write about business from owning stock in any company except the New York Times Co.

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