The editorial staff rebels when they learn their editor has “developed a relationship” with the subject of an interview she is preparing with the recently-retired chairman of one of the world’s largest companies. Sex. Betrayal. Ethical delimma. Power. Success. Tragedy. Failure. And the Wall Street Journal, not the New York Post, breaks it.

Quote:

Mr. Welch says that a “friendship” with Ms. Wetlaufer developed during the course of her story preparation, calling her “quick” and “funny.” He declines to say whether he has ever been romantically involved with Ms. Wetlaufer, saying “I don’t talk about my personal life.” Ms. Wetlaufer, 42 years old, says she is divorced. Mr. Welch, 66, is married.

Tennessee lawmakers float a tax plan that includes a tax on advertising. I’ll post more on this later, along with my prediction of what will happen if its passes.

First, a giant tobacco company decides to stop advertising in magazines, then liquor ads take some of their magazine ad dollars to the airwaves. That can mean only one thing: scary articles in Adage.

Adweek runs its annual magazine report, including Adweek’s “Magazine Hot List” for 2002.