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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

Updated January 6, 2008

 

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