Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.

History[link]

Businessweek was first published in September 1929, only weeks before the Stock Market Crash of 1929. Its original purpose was to provide information and opinions as to what was happening in the business world, at the time. The president of McGraw-Hill Publishing, Malcolm Muir stated, "The Business Week always has a point of view, and usually a strong opinion, both of which it does not hesitate to express. And all the way through, we hope you will discover it is possible to write sanely and intelligently of business without being pompous or ponderous."^[2]

Initially, the magazine published sections that included topics such as marketing, labor, finance, and management, among others.^[2] Consequently, Businessweek pioneered the action of covering national political issues that directly impacted the business world. In 1950, the magazine published its first executive pay survey, which it still does today.^[2]

Stephen B. Shepard served as the editor in chief of the magazine from 1984 until 2005, when he was chosen to be the founding dean of the CUNY Graduate School of Journalism.^[3] Stephen J. Adler of The Wall Street Journal was named to succeed Shepard as editor in chief at Businessweek.^[4]

Like nearly all magazines, Businessweek suffered from a decline in advertising during the late-2000s recession. Print revenues halved, to US$60 million, between 2006 and 2009, and online revenues only grew marginally, to $20.5 million.^[5] In July 2009, it was reported that McGraw-Hill was trying to sell Businessweek and had hired Evercore Partners to conduct the sale. Because of the magazine's liabilities it was suggested that it might change hands for the nominal price of $1 to an investor who was willing to incur losses turning the magazine around.^[6]

In late 2009, Bloomberg L.P. bought the magazine — for a reported $2 million to $5 million plus assumption of liabilities — and renamed it Bloomberg BusinessWeek.^[7][8] Adler resigned as editor-in-chief and was replaced by Josh Tyrangiel, who had been deputy managing editor for Time Magazine.^[9] In early 2010, the magazine title was restyled Bloomberg Businessweek (with a lowercase "w") as part of a redesign.^[10][11]

Competitors[link]

The magazine's primary competitors in the national business magazine category are Forbes magazine^[2], published bi-weekly, and Fortune, published on a tri-weekly basis.

Advertising[link]

Since 1975, Businessweek has carried more annual advertising pages than any other magazine in the United States.^[12]

During the 1990s, Businessweek's advertising campaign expanded, creating efforts to try to solicit new readers from outside the business world. The magazine's then-editor in chief, Steven B. Shepard, helped implement an international edition of the magazine, expanding global reach and interest, and helped to report new and emerging business trends, such as the notion of the New Economy.^[2] Weekly readership of Businessweek is over 4.8 million, in 140 different countries.^[13] In 2011 Businessweek's ad revenue went up 65.3% in comparison to the previous year.^[14]

College rankings[link]

Since 1988, Businessweek has published annual rankings of United States business school MBA programs.^[15] In 2006, it also started publishing annual rankings of undergraduate business programs.^[16]

Non-U.S. editions[link]

Businessweek discontinued its European and Asian editions in 2005. A December 7, 2005, press release^[17] issued by McGraw-Hill stated that it had decided to deliver a single global edition instead of providing separate regional ones. However, in 2011 a Polish edition, named Bloomberg Businessweek Polska, will be re-launched after a 6-year break.

There is also an Arabic edition launched in October 2005 by InfoPro Management sarl (InfoPro), a publishing and market research company based in Beirut, Lebanon and The McGraw Hill Companies, Inc.^[18]

Mobile version[link]

In April 2011, Bloomberg Businessweek launched an iPad version of the magazine available as an iTunes subscription.^[19][20] A version of the application for iPhone and iPod Touch was added later and there are now over 100,000 subscribers on the mobile platform.^[20] On May 1st, 2012, the application was awarded a Webby Award in the "News (Tablet & All Other Devices)" category.^[20]

See also[link]

• International Design Excellence Awards
• List of United States magazines

References[link]

Karen Mills
Administrator of the Small Business Administration
Incumbent
Assumed office April 6, 2009
President	Barack Obama
Deputy	Marie Johns
Preceded by	Sandy Baruah (Acting)
Personal details
Born	1953 (age 58–59)
Political party	Democratic Party
Spouse(s)	Barry Mills
Alma mater	Harvard University

Karen Gordon Mills is the 23rd administrator of the Small Business Administration (SBA), a federal agency which provides small businesses with access to capital and government contracts, counseling and training, and disaster relief. She was nominated by President-elect Barack Obama on December 19, 2008, confirmed unanimously by the Senate on April 2, 2009, and sworn in on April 6, 2009.^[1][2] She was elevated to the rank of Cabinet-level officer on January 13, 2012.^[3]

Mills is the daughter of Mr. Melvin and Ellen Gordon, the CEO and President of Tootsie Roll Industries, respectively. She is married to Barry Mills, the president of Bowdoin College, and has three sons. She has a B.A. in economics from Harvard University, and an MBA from Harvard Business School.^[4]

Career[link]

Mills has extensive experience in managing and investing in small businesses. During the 1980s and 1990s, Mills worked with and managed several small manufacturing firms throughout the country, including producers of hardwood flooring, refrigerator motors, and plastic injection molding.

More recently, she served on the board of the Maine Technology Institute, a nonprofit that invests in local technology companies and innovative small businesses.^[5]

Before becoming SBA Administrator, Mills served as president of the private equity firm MMP Group, a firm focused on growing businesses in areas such as consumer products, food, textiles, and industrial components. Prior to MMP, she was a founding partner and managing director of Solera Capital, a venture capital firm based in New York City which invested in many women-owned firms, such as natural food producer Annie's^[6]

In 2007, former Maine Gov. John Baldacci appointed her to chair the state’s Council on Competitiveness and the Economy, which was focused on rural and regional development, including a regional "cluster" with Maine’s boatbuilding industry. She also served on the state's Council for the Redevelopment of the Brunswick Naval Air Station.

Previously, she has worked as a management consultant in the US and Europe for McKinsey and Co., and as a product manager for General Foods, and has served on the boards of directors for Scotts Miracle-Gro and Arrow Electronics.^[7]

Mills is a member of the Council on Foreign Relations and has been a vice chairman of the Harvard Board of Overseers.^[4]

Clustering[link]

Mills is an advocate for regional industrial clusters—geographic groupings of related industries (such as tech companies in Silicon Valley) that can share resources, ideas, and human capital. In 2005, Mills became involved with the effort to create new jobs following the closing of the Brunswick Naval Air Station. She helped organize the North Star Alliance, a partnership between local boat builders, composite material manufacturers, and researchers at the University of Maine, which has helped increase the global competitiveness of Maine’s boat building and composite industries.^[8]

She went on to organize the creation of a specialty foods cluster in Maine, with specialty producers, such as Peak Organic Beer, taking advantage of Maine’s local agriculture.^[9] In 2007 she was appointed chair of Maine’s Council on Competitiveness and the Economy, where she focused on attracting investment in regional industries and rural areas of Maine.^[10]

Mills authored an influential paper on the subject of clustering for the Brookings Institute in April, 2008.^[11]

US Small Business Administration[link]

Recently, the agency has gained a high profile under President Obama, who has made small businesses a cornerstone of his effort to revive the economy.^[12]

Created in 1953, the Small Business Administration operates in four key areas: access to capital, government contracting, entrepreneurial development, and disaster relief. The SBA’s 7(a) and 504 loan programs offer guarantees on loans to small businesses that aren't able to receive traditional bank loans. They work with federal agencies to ensure that small businesses win 23% of all government contracts. The SBA’s 68 district offices, along with SBA counseling partners such as Small Business Development Centers (SBDCs) and the Service Corps of Retired Executives (SCORE), offer technical training and counseling for small business owners and entrepreneurs. Lastly, the SBA makes direct, low-interest loans to businesses and individuals that have been affected by natural disasters.^[13]

References[link]

v t e Current members of the Cabinet of the United States Obama Biden Bryson Chu Clinton Donovan Duncan Geithner Holder Jacksonc Kirkc Kruegerc LaHood Lewc Millsc Napolitano Panetta Ricec Salazar Sebelius Solis Shinseki Vilsack Zientsca c - cabinet-level; a - acting

v t e Cabinet of President Barack Obama (since 2009)   Cabinet Secretary of State Hillary Clinton (2009–present) Secretary of the Treasury Timothy Geithner (2009–present) Secretary of Defense Robert Gates (2009–2011) Leon Panetta (2011–present) Attorney General Eric Holder (2009–present) Secretary of the Interior Ken Salazar (2009–present) Secretary of Agriculture Tom Vilsack (2009–present) Secretary of Commerce Gary Locke (2009–2011) John Bryson (2011–present) Secretary of Labor Hilda Solis (2009–present) Secretary of Health and Human Services Kathleen Sebelius (2009–present) Secretary of Education Arne Duncan (2009–present) Secretary of Housing and Urban Development Shaun Donovan (2009–present) Secretary of Transportation Ray LaHood (2009–present) Secretary of Energy Steven Chu (2009–present) Secretary of Veterans Affairs Eric Shinseki (2009–present) Secretary of Homeland Security Janet Napolitano (2009–present)   Cabinet-level Vice President Joe Biden (2009–present) White House Chief of Staff Rahm Emanuel (2009–2010) William Daley (2011–2012) Jacob Lew (2012–present) Administrator of the Environmental Protection Agency Lisa Jackson (2009–present) Director of the Office of Management and Budget Peter Orszag (2009–2010) Jacob Lew (2010–2012) Trade Representative Ron Kirk (2009–present) Ambassador to the United Nations Susan Rice (2009–present) Chair of the Council of Economic Advisers Christina Romer (2009–2010) Austan Goolsbee (2010–2011) Alan Krueger (2011–present) Director of the Central Intelligence Agency Leon Panetta (2009–2011) David Petraeus (2011–present) Administrator of the Small Business Administration Karen Mills (2012–present)* * took office in 2009, raised to cabinet-rank in 2012 See also: Confirmations of Barack Obama's Cabinet