Alec Hogg: The seven cornerstones of BizNews

The inspiration for the BizNews credo came from Eugene Meyer (above), former US Federal Reserve chairman, who bought the Washington Post in June 1933..Meyer was new to media but had firm views on what was needed to establish a credible, non-partisan voice. His seven principles guided the failing newspaper which he bought on auction for $815,000 from Washington's #5 to one of the beacons of global media..Meyer is the father of my publishing hero, the late Katherine Graham – a deeply principled owner who risked all when backing her reporters Woodward and Bernstein who exposed and forced the resignation of Richard Nixon, then the most powerful man in the world..___STEADY_PAYWALL___.We have adapted the principles as the standard to which to measure ourselves, and by which the community we serve should hold BizNews to account..They read:.The first mission is to tell the truth as nearly as the truth can be ascertained.Tell ALL the truth, so far as it can be learnt, concerning the important affairs of the country and the world.As a disseminator of news, observe the decencies obligatory for a private citizen.What we publish shall be fit for consumption by the young as well as the mature.Our duty is to the community we serve and the public at large, not the private interests of the owner.In the pursuit of truth, we shall be prepared to sacrifice our material fortunes if this is necessary for the public good.We shall not be the ally of any special interest, but shall be fair and free and wholesome in our outlook on public affairs and public personalities..And a blast from my own past….On October 25, 2012 I unexpectedly departed my first internet publishing startup, Moneyweb, which was stared in a room above my garage in April 1997. The exit was sudden and after many emails and phone calls I posted an explanatory note on my blog. answering the questions being asked. That's all ancient history now but the final paragraph holds as true for me today as it was almost nine years ago….What have you learnt from this?.Always keep 50% plus one share in a company you start.Listen to your gut and to people you trust, even if it is against your short-term desires.Don't assume your values are shared universally.Be grateful for the time you have with smart, honest, hard-working colleagues.Memories are short.And from the late Steve Jobs: "Stay hungry, stay foolish.".NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via BizNews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our help desk can assist – support@biznews.com.

Alec Hogg: The seven cornerstones of BizNews

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