Dow Jones
Headquarters:
1 World Financial Center
200 Liberty Street
New York, NY 10281
Employees: 7,000
CEO: Les Hinton
Subsidiary of News Corp.
Website: http://www.dowjones.com
Career Page
Dow Jones is the nation's leading provider
of business and financial news. It publishes The Wall Street
Journal, the nation's largest business newspaper, and Barron's,
a weekly financial paper. The company was acquired in 2007 by
News Corp. for $5 billion.
The company also operates Dow Jones Newswires,
a financial news service, as well as eight daily and 15 weekly
newspapers chain of smaller newspapers primarily in California,
New Hampshire, Massachusetts and Oregon. The company also owns
financial news site Marketwatch.com.
The Wall Street Journal has a circulation
in the U.S. of 1.72 million copies as of March 2007 and printed
at 17 plants nationwide. The Journal's online edition offers
news and financial statistics updated around the clock. During
the first quarter of 2007, paid subscriptions to the Online Journal
grew 20% to 931,000, up from 774,000 the previous year.
In January 2007, The Journal introduced
a redesigned version of its paper and reduced the width from
60 inches to 48 inches to save money.
The Journal is one of the most influential
newspapers in the country and has won 31 Pulitzer Prizes.
Dow Jones has 2,600 news staff worldwide.
The Journal alone has a news staff of 600.
Barron's had a paid circulation of 300,017
as of June 30, 2005.
History
The company was founded in 1882 by Charles
Dow, Edward Jones and Charles Bergstresser in a small basement
office at 15 Wall Street in New York. The Company starts producing
daily hand-written news bulletins called "flimsies"
delivered by messenger to subscribers in the Wall Street area.
In 1884, the Dow Jones Indexes were founded
which served as a measure for stock performance. The Dow Jones
Averages, the creation of Charles Dow, appears for the first
time the same year in the "Customers' Afternoon Letter."
At the time, it contained 11 stocks: nine railroads and two industrials.
It was the precursor to the Dow Jones Industrial
Average, which was launched in 1896.
The Dow Jones Industrial
Average today is a frequently quoted index of 30 top companies
which measures the overall stock market performance.
On July 8, 1889, Dow Jones & Company's
"Customers' Afternoon Letter" becomes The Wall Street
Journal. It contains four pages and sells for two cents; advertising
was 20 cents a line. A morning edition of The Journal was added
in 1898.
In 2006, Dow Jones sold six daily papers
to Community Newspaper Holdings for $282 million. The six papers
were: the News-Times of Danbury, CT; The Daily Star of Oneonta,
NT; the Press-Republican of Plattsburgh, NY; the Santa Cruz Sentinel
(Santa Cruz, CA);The Daily Item of Sunbury, PA and the Traverse
City Record-Eagle (Traverse City, MI).
The Wall Street Journal launched a new
Saturday edition on Sept. 17, 2005 which included more lifestyle
and travel articles in a strategy to generate more advertising
in the paper which has declined among financial and technology
firms. The weekend edition has a cover price of $1.50 while the
weekday edition sells for $1.00.
Benefits
Here are some of the features of Dow Jones
benefits:
- No required employee contributions for basic life insurance
or long-term disability.
- A full choice of medical-plan options at all major locations.
- Employees can pay for certain medical, child-care and commutation
expenses with "before-tax" dollars.
- The medical and dental plans cover unmarried domestic partners.
- A two-part retirement program which combines an automatic Company
contribution feature and a 401(k) plan.
- Dow Jones pays 60% of the cost of physical-fitness activities,
up to an annual maximum of $400.
- Many work/family programs are available to assist employees
in balancing their career and family needs.
MEDICAL & DENTAL
Medical
Employees can choose one of three main options:
- The Aetna Open Choice PPO Plan provides two levels of coverage
(different copays and coinsurance) - depending on whether
network doctors are used. You are not required to select
a primary-care physician and no referrals are required for specialty
care.
- The Aetna Managed Choice "Point-of-Service" Plan
also provides two levels of coverage - depending on whether
network doctors are used. You are required to select a
primary-care physician who manages your overall care and provides
referrals to specialists when needed.
- A Health Maintenance Organization (HMO) if one is available
at your location.
Dental
The Dental PPO Plan provides two levels of coverage - depending
on whether network dentists are used:
- In-Network - The annual deductible is $50 per person with
a family maximum of $150.
- Out-of-Network - The annual deductible is $75 per person
with a family maximum of $225.
In-Network benefits are higher for most services. The program
pays up to $2,500 per person each year in preventive, basic and
major benefits. Orthodontic benefits are covered up to a separate
lifetime maximum of $2,000 per person.
Premiums for Medical & Dental Coverage
Employees pay pretax premiums for a portion of the cost of medical
and dental coverage. For 2005, premiums range from 3.75% to 10.0%
of plan costs based on salary levels.
OTHER HEALTHCARE BENEFITS
- The Physical Fitness Program
reimburses 60% of the cost of eligible physical-fitness memberships,
up to an annual maximum of $400.
- The Employee Assistance Program (EAP) offers employee-
and family-counseling services for serious personal problems
affecting you and your family.
- The Med$pend Account Program allows a tax-efficient
way to pay for unreimbursed health-care expenses such as deductibles
and copayments.
DISABILITY
- The Short-Term Disability Program
pays 100% or 60% of your salary, depending on length of service
and the length of the disability.
- After 26 weeks, the Long-Term Disability Plan provides
disability income of 60% of salary when combined with other disability
benefits.
Dow Jones currently pays the full cost of providing these disability
benefits except in certain states where employee contributions
are required for state disability plans.
LIFE INSURANCE
Dow Jones pays the full cost of:
- Basic Life Insurance equal to approximately 1 1/2 times
annual pay.
- Business Travel Accident Insurance equal to three times
annual pay - up to a maximum benefit of $500,000 -
in case of accidental death while traveling on Company business.
Employees can purchase additional coverage:
- Supplemental Life Insurance equal to approximately 1
1/2 times annual pay, plus Accidental Death and Dismemberment
(AD&D) benefits up to a maximum of $50,000. This optional
coverage is available through payroll deduction.
RETIREMENT PROGRAM
A 401(k) Savings Plan, which provides eligible employees
with:
- A fixed Company contribution equal to 3% of covered compensation
up to the compensation limit set by the IRS ($210,000 in 2005).
- The opportunity to make employee pretax savings contributions
of up to 40% of covered compensation (subject to IRS limitations).
- A 100% Company match on up to the first 2% of those pretax
employee contributions (subject to IRS limitations).
A Money Purchase Retirement Plan under which the Company
contributes, for eligible employees, 7% of their covered compensation
up to the IRS compensation limit ($210,000 in 2005) and an additional
5.7% of their covered compensation between the Social Security
Wage Base ($90,000 in 2005) and the IRS compensation limit.
EMPLOYEE STOCK PURCHASE PLAN
The Employee Stock Purchase Plan allows employees to buy shares
of Dow Jones common stock at 85% of the fair market value on
the date of purchase. The maximum number of available shares
(up to a limit of 200) is based on salary.
WORK/FAMILY PROGRAMS
For many years, Dow Jones has provided a "family friendly"
workplace environment that is sensitive to the needs of employees:
- The LifeWorks Program provides a range of services to
help employees make informed decisions about child care, elder
care and other family-related issues.
- The Dependent Care Program allows employees to pay for
qualified child-care and elder-care expenses with before-tax
dollars, thus reducing employee payroll taxes and providing more
take-home pay.
- Child Care Leave provides an unpaid leave of up to nine
months from the date of delivery or adoption. Benefits continue
during this period.
- The Adoption Assistance Program reimburses employees
up to a maximum of $2,000 for expenses incurred in the legal
adoption of a child.
EDUCATION BENEFITS
- The Dow Jones Educational Assistance Plan
reimburses employees 80% for undergraduate courses and 50% for
graduate-level courses.
- The Dow Jones Foundation Scholarship Program sponsors
up to 25 college scholarships for eligible children of employees.
Awards range from $2,000 to $5,000 per year for each student,
for as long as four years.
- The Dow Jones Educational Loan Program provides loans
for post-secondary school education for children of Dow Jones
employees.
- Matching Gifts Program for Higher Education encourages
employees to contribute to colleges, universities, community
colleges, technical/vocational schools, public and private non-profit
elementary, middle and secondary schools, the United Negro College
Fund, American Indian College Fund and Hispanic Association of
Colleges and Universities. Dow Jones matches employee contributions
to these institutions, up to a maximum of $2,000 per year.
VACATIONS AND HOLIDAYS
- Eight (8) holidays are observed by the Company each year.
- In addition, six (6) personal holidays are permitted on days
chosen by the employee.
- Paid vacation ranges from one (1) week after six (6) months
of service, to a maximum of five (5) weeks after 6 years. You
earn three (3) weeks vacation after one (1) year, four (4) weeks
after three (3) years and five (5) weeks after six (6) years.
WHEN DO BENEFITS START?
Medical & Dental
First of the month after 30 days of employment
Life Insurance
First day of employment
Long-Term Disability
After six months of employment
Retirement Program
- 401(k) Savings Plan - Jan. 1 or July 1 after the completion
of six (6) months of service
- Money Purchase Retirement Plan - Jan. 1 nearest the
completion of two (2) years of service
Physical Fitness Plan - First day of employment
Stock Purchase Plan - July 1 after two full years of service
Vacations - After six months of employment
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