On Monday, March 24, a thirteen-year veteran of Bloomberg News, Ben Richardson, news editor at large for Asia, resigned. A few days earlier, company Chairman Peter Grauer said that the news and financial information services company founded in 1981 by Michael Bloomberg “had” to be in China and “should have rethought” some of its recent stories there. Grauer avoided specifics in a speech he gave at the Asia Society in Hong Kong. But it seemed clear that Grauer was referring to a series of investigative reports on wealth in China produced by Bloomberg journlaists over the last year. In that same period, Bloomberg’s reports won awards, its web site was blocked in China, and sales there of its core product—the Bloomberg terminal—began to decline. Moreover, tensions rode high between editorial staff and management. Richardson told media blogger Jim Romanesko that “a small group of incompetent and self-serving managers” at Bloomberg had “screwed things up for everyone else,” confirming earlier reports that Bloomberg had compromised its journalistic principles for fear of losing business in China. —The Editors

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