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Oct 18, 2012

Farewell Newsweek as we knew it

Time for a touch of nostalgia, folks, as Newsweek just announced it is going purely digital, and dropping the print version of their magazine.  Of course, I saw this on-line, so the irony is clear, but it reminded me of some of the old Newsweek magazines which my father had saved ... presumably for days like this.  One in particular is the July 28, 1969 edition.

Here's the cover shot, so you can guess the main story:

An unearthly shot if ever there was one.  And at the time, although I was too young to realize, a monumental moment in mankind's mission for mastering the majestic moon and outer space.  Okay, I got a little carried away with the alliteration, but the point is that Newsweek, along with the daily newspapers and other magazines like Time, were THE source of information, and used some extraordinary journalism to capture the essence of this event.

Other little tidbits from this edition:

  • Teddy Kennedy was in a bit of hot water, as this edition spotlit the infamous Chappaquiddick tragedy in the National Affairs section that dogged him for decades after the incident.
  • The Vietnam War had an update page called 'Steady on Course', showing a photo of Admiral John S McCain Jr. walking with others to plot the course of the war.  No, that's not the Republican nominee for President from 2008, but his father.
  • The international section headline was "India:  Gunning for Mrs. Gandhi".  25 years later, that is exactly what happened, as the Indian PM was assassinated by her bodyguards.
  • The Spotlight on Business section highlighted 'Bernie and His Billions'.  No, not Madoff, but another Bernie, Benard Cornfeld, who was described as a "self-made emperor of international finance".  The article included color photos of him cavorting with women as the 'Hugh Hefner of Western Europe', and riding horses at one of his grand estates.  He was ultimately tried and acquitted for running one of the biggest confidence games of his era.  Must be something about being called 'Bernie' that leads people down a crooked path.
  • The Dow closed the week before at 845.92.  Total.  As in down 6.33 to close at 845.92.  Contrast that with what happened on October 13th, 2008 when the increase was +936.42 or September 29th of the same year when the Dow declined -777.68, and you get the point.  A lot of shares have changed hands since that magazine has published.
  • Blind Faith made their first appearance in the US, jamming 20,000 into Madison Square Garden.  If you've never heard of Blind Faith, you might know the band members.  Ginger Baker on drums, Eric Clapton on guitar, and 21 year old upstart Steve Winwood.  




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