The Lebanon Opportunities
Code of Journalistic Ethics
Table of Content
Insulate editorial from any type of
influence
The InfoPro Code of Business Ethics
ASME guidelines
Accuracy
Honesty
Fairness
Attribution
Securities ownership
and trading.
Securities you own
Securities you plan to buy
Special situations
Reporting securities ownership
Reporting other conflicts
Plagiarism and fabrication
Relations with sources and other
outsiders
a. Unorthodox reporting techniques
b. Disclosure, early and otherwise
c. Financial dealings with sources and
subjects of stories
d. Gifts, meals, and entertainment
e. Travel
f. Freelancing
g. Personal appearances
SEPARATION OF ADVERTISING AND
EDITORIAL
Design
Covers
Logos
Advertising sections
Product placement/integration
Editorial staff and titling
Editorial review
Advertising review
In
our society, the press enjoys a remarkable degree of freedom. With that freedom
comes the responsibility to practice our craft in
accordance with the highest standards, to be accountable for what we publish,
and to avoid conflicts of interest.
Ever
since Lebanon Opportunities was established in 1997, we have striven to fulfill
these responsibilities. And with good reason.
Otherwise, we could lose our most important asset: the trust of our readers and
online visitors, in the credibility of the information and insights we
provide.
We
believe that our future depends upon preserving and enhancing this trust.
Therefore, we must ensure that:
1.
Our integrity is of the highest caliber.
2.
We base our unique brand of journalism on accurate information, gathered
honestly and presented fairly.
3.
Our professional conduct is unassailable.
4.
Our personal conduct, as it reflects on Lebanon Opportunities, is beyond
reproach.
All
members of the Lebanon Opportunities and InfoPro editorial staffs must uphold
these principles. This means everyone who works on the magazine, the Web site,
or in our other operations (including members of the art, production, and
systems departments, all Web developers and programmers, and all assistants and
clerical workers), be they full-time, part-time, interns, or freelancers.
Moreover, it is expected to report to the editor-in-chief violations that are
committed. If a potential ethical dilemma is encountered, that isn’t covered by
this Code, the editor-in-chief must be requested for a
ruling. To put it simply, when in doubt, ask.
Here
are the rules by which we must live:
1.
Insulate editorial from any type of influence.
Unquestionable
integrity is at the heart of our effort to serve our audiences with the best
business journalism in the world. One way we achieve this is to strictly
observe an invisible wall that separates our editorial operations from our
advertising and other business departments, so as to avoid any chance that one
will inappropriately influence the other.
In
every medium, our reporters, editors, and producers prepare and place stories,
graphics, and interactive features based solely on their editorial merits.
Thus, we treat companies that advertise with us exactly the same as those that
don’t. We don’t favor any company or subject of a story, or discriminate
against any -- for any reason.
Editors
and editorial imperatives dictate the design of our products. Obviously, we
make allowance for the presentation of revenue-generating elements. However,
the design must always make clear the distinction between editorial and
commercial material. In the spirit of that rule, for example, we do not link,
for any reason other than editorial purposes, from within the text of
electronic versions of our stories to an advertiser’s Web site.
To
ensure that we honor these principles, there generally should be no contact
(beyond social conversation) between the vast majority of Lebanon Opportunities
editorial and business staffers. (The editor-in-chief or a designated surrogate
may grant exceptions as necessary for the running of the business.)
If
you ever feel any pressure from outside, or from our own business departments,
to compromise editorial material -- including pressure to violate this Code,
the InfoPro Code of Business Ethics, or the guidelines of the American Society
of Magazine Editors -- you must tell the
editor-in-chief and/or managing editor immediately.
2.
The InfoPro Code of Business Ethics.
We
are part of InfoPro, which has a reputation for the excellence, quality, and
reliability of its products and services, and for
decency, respect, honesty, and fairness in dealing with its customers,
investors, business partners, suppliers, employees, and other constituents. In
addition to setting high standards for ourselves, we must abide by the
corporation’s Code of Business Ethics.
3.
ASME guidelines.
The
American Society of Magazine Editors has created guidelines for both print and
digital media that establish a minimum standard of behavior for reputable
magazines and Web sites. Lebanon Opportunities and its employees, both
editorial and business, must honor the ASME guidelines. (Editorial Guidelines:
http://www.magazine.org/Editorial/Guidelines/. Best Practices for Digital
Media:
http://www.magazine.org/Editorial/Guidelines/Best_Practices_for_Digital_Media/).
We will treat violations of them as violations of our journalistic ethics.
Lebanon
Opportunities specializes in valued-added, interpretive journalism. This gives
us license to go beyond a traditional, just-the-facts approach. At the same
time, it puts an extra onus on us in the following areas:
1.
Accuracy.
For
the reader to believe our interpretations, we must start with accurate
information, honestly and professionally gathered. Moreover, our interpretation
must flow from the facts and be reasonable.
Inaccurate
or sloppy reporting of material that appears anywhere under the Lebanon
Opportunities name violates the spirit of this Code. The responsibility for
accuracy lies with everyone who touches the editorial product. If you have any
reasonable doubts about the accuracy of our information, you have a duty to
tell your editor, and if necessary the editor-in-chief.
2.
Honesty.
All
of your dealings with sources -- and with other editorial staff -- must be
truthful.
As
an institution, moreover, Lebanon Opportunities will always be an independent
voice, with no ax to grind. We do not support political candidates or political
parties. We are not Keynesians, monetarists, or supply-siders. On all matters
of politics, economics, and social policy, we try to bring our own judgment to
bear, based on thorough reporting and reasonable analysis. We do not do stories
that are designed to hew to any ideological agenda.
3.
Fairness.
We
give the subjects of a story -- people, companies, and institutions -- an
opportunity to have their views presented. We include relevant portions of
those views -- or report that the subject declines to comment. We also present
differing or dissenting opinions, though they may be subordinate to the main
thrust of the story.
If
someone complains about a story, we will investigate promptly and
even-handedly. If we are right, we will stand by the story regardless of who is
complaining. If we are wrong, we will say so forthrightly and make whatever
amends seem appropriate.
Because
we do analytic journalism and commentaries, we do not strive for perfect
objectivity. But we must always strive to be fair.
4.
Attribution.
We
use the following ground rules when seeking information from sources:
On
the record:
You
are free to use all material from the interview, including information and
quotations, and to identify the source. We prefer this approach.
On
background:
You
are free to use information and quotations, but you agree not to identify the
source. "Not for attribution" is an acceptable method of gathering information,
though not the one we prefer.
You
generally should have more than one source for information that you can’t attribute, both to double-check its veracity and to guard
against being used or misled by a single source. In situations where you wish
to report, without attribution, extremely sensitive information, you should
seek approval beforehand from your editor, the managing editor, or the
editor-in-chief.
Off
the record:
You
agree not to use information from the source. Or you may agree not to use the
information unless you check with the source before publication. You should
avoid this method unless it’s the only way to interview a one-of-a-kind
source.
Make
such decisions carefully (and in the case of "off the record," only
after checking with your editor or the editor-in-chief, if possible), because
Lebanon Opportunities generally will have to honor whatever arrangement you
make. The editor-in-chief or a designated surrogate has the right to know the
identity of anonymous sources -- be they not-for-attribution or off-the-record
sources -- and will keep such information confidential.
Routine
attribution:
"He
said" means you got the quote from the source -- in person, at a press
conference, or on the phone. "He said in a statement" or "in a
report" means the quote came from a written statement or press release, or
from a document such as an analyst’s report.
Every
judgment we make as journalists must be free of conflicts of interest -- free
even of the appearance of conflicts. Therefore, we must observe the following
rules:
1.
Securities ownership and trading.
a.
Securities you own.
You
may not report, write, or edit a story about a company in which you or members
of your immediate family own securities -- nor about other companies in the
same industry. For instance, if you own stock in Solidere, you may not report,
write, or edit a story about it. Immediate family means spouse or significant
other and children 18 or younger, plus those who live at home. For purposes of
this Code, securities include all financial instruments of companies, such as
stocks and corporate bonds, plus holdings in industry-specific mutual funds,
industry-specific exchange traded funds, and industry-specific hedge funds.
Further, you may not write about companies -- or the industries of companies --
in which you trade options. Nor may you write about commodities -- such as
energy products -- if you trade futures in those markets.
You
may, however, invest in diversified mutual funds, diversified exchange traded
funds, diversified hedge funds, Treasury securities, or municipal bonds.
In
any instance where a conflict seems likely, you must recuse yourself from
participating in the story.
b.
Securities you plan to buy.
You
may not buy securities in a company you have written or edited a story about,
for at least six months after the date on which you stopped covering the company
and its industry -- even if you are no longer employed by Lebanon
Opportunities. This applies to members of your immediate family as well. If
your job is such that you write about or edit stories on a wide variety of
companies intermittently, do not invest in those companies.
You
may, however, trade the securities of companies you don’t cover, in industries
you don’t cover, starting five days past the release time of the magazine issue
in which a story about the company appears, or five days after a story’s
appearance in Lebanon Opportunities You may determine when Lebanon
Opportunities last mentioned a company by doing a Web search. The same rule
applies for investments you make for your Individual Retirement Account or for
non-InfoPro pension plans in which you or your immediate family
participate.
You
must hold any corporate security, or any instrument based on such a security,
for a minimum of three months except in cases of hardship -- for which you must
seek a waiver from the editor-in-chief. In other words, you may not engage in
day trading or so-called active trading or short selling. Nor may you accept
"friends and family" shares from companies that are about to go
public. Nor may you knowingly participate in unethical market-timing schemes
that any mutual fund may engage in.
Additionally,
you may not trade in any security or financial instrument based on information
gathered by anyone at Lebanon Opportunities before a story is published. Be
aware that we may report suspected insider trading to the appropriate
authorities and will cooperate fully in any subsequent legal actions.
c.
Special situations.
There
may be instances in which an editorial employee inherits stock from a
non-spousal relative, or in which a newly hired employee or a person who is
under contract to Lebanon Opportunities arrives with stock holdings. In such
cases, you have these options:
--You
can divest your holdings.
--You
can ask the editor-in-chief to let you keep your holdings with the
understanding that you must recuse yourself from covering companies (and their
industries) in which you own securities. Be aware, though, that even if you get
such permission, recusing yourself extensively could limit your assignments and
your ability to perform your job.
--You
may put your securities and financial instruments, other than those that are
exempt from these rules, into an independently-administered blind trust, which
you must create in consultation with the InfoPro legal department.
2.
Reporting securities ownership.
You
must disclose in a confidential memo to the editor-in-chief your ownership of
stocks, bonds, and other securities of individual corporations, including your
holdings in industry-specific mutual funds, industry-specific exchange traded
funds, and industry-specific hedge funds, and also such holdings of your
spouse, significant other, and other members of your immediate family. This
statement must also disclose the names of all brokerage firms in which you and
your family have accounts to trade or hold securities.
New
editorial employees must sign this Code when they are hired -- and immediately
thereafter submit the required securities-disclosure statement.
Additionally,
you must report any change in your portfolio -- that is, the purchase or sale
of securities -- to the editor-in-chief no later than one week after the
transaction date.
3.
Reporting other conflicts.
You
must include with your financial disclosure memo a description of any other
potential conflict of interest, including your other financial holdings plus
any personal conflict that might arise from family connections or employment.
If your spouse works at, for example, Fidelity or the Wall Street Journal,
please disclose this information.
4.
Plagiarism and fabrication.
We
don’t copy the work of others. And we don’t make things up.
We
must gather and verify every piece of information we present. On the rare
occasion when we can’t confirm a critical fact another publication has
reported, we must credit that publication. If you ever have a question about
the use of such material, you should consult the editor-in-chief, the managing
editor, or the InfoPro legal counsel. You should also notify all three if you
feel that another publication has plagiarized your work.
5.
Relations with sources and other outsiders.
a.
Unorthodox reporting techniques.
We
do not practice surreptitious entry. You must not misrepresent yourself to gain
access to information for a story. This doesn’t preclude us from using
extraordinary reporting efforts, but we always do so above board and as clearly
identified Lebanon Opportunities employees. Any other approach could compromise
the use of the material so gathered, and could give rise to a legal claim.
Unusual reporting techniques should have the approval of the editor-in-chief,
b.
Disclosure, early and otherwise.
You
may need to tell a source what a story is about, so that the person can provide
the information you seek or respond to points in the story. But it is a
violation of both the InfoPro and Lebanon Opportunities Codes to show a
pre-publication version of a story, Q&A, or any other piece of journalism
to anyone outside the editorial staffs. However, top editors may make
exceptions on occasion -- for example, to accommodate the needs of our
publicity department or of our editorial partners.
Writers
and editors may also, with the consent of their managers, read or e-mail to
sources selected phrases or quotes before publication when there is no other
practical way to ensure the accuracy of a story or a Q&A, or to secure a
necessary response. You may not, however, read or send to sources entire
stories or scripts, or extended sections of either, except with the permission
of the editor-in-chief.
As
a rule, in short, you may not tell sources or anyone else outside the staff
details of what is in a story, when a story will appear, or what stories will
appear, before the magazine’s official release time. Except as otherwise
authorized by the editor-in-chief, no one may give sources, advertisers, or
anyone else copies of the magazine or electronic versions of magazine stories
before the official release time. Additionally, you may not tell anyone about
the contents of Web-only stories or of broadcast segments before they go
public.
These
prohibitions -- plus the rule against trading based on information gathered by
anyone at Lebanon Opportunities before a story is published -- also apply to
all of Lebanon Opportunities’ ad sales and business staff, expressly including
the business production staff.
Except
with the approval of the editor-in-chief, you should not do stories that
involve your family, relatives, or friends. For purposes of this Code, a friend
is someone you socialize with outside of normal business settings.
Finally,
we must hold our own trade secrets and proprietary information inviolate. This
includes not only cover and story schedules but all internal memos and
discussions or decisions leading to the creation of specific stories. In
addition, you should not disclose to outsiders our discussions of personnel,
strategy, and tactics.
c.
Financial dealings with sources and subjects of stories.
We
do not pay for information. Moreover, you may not enter into a financial
relationship of any kind with a source, except with the consent of the
editor-in-chief.
You
may do business with companies you cover for the purpose of securing normal
bank loans, mortgage loans, and credit cards. In all such cases, however, you
may not receive favorable terms that are unavailable to the general
public.
d.
Gifts, meals, and entertainment.
We
may not accept gifts from companies, from their public relations firms or
agents, or from any other supplier of information -- not a bottle of wine
during the holidays, not a reduced-rate membership for your personal use.
During company visits, you may accept mementos or sample products of nominal
value (less than $25). But you must refuse, return, dispose of, or donate to
charity any unsolicited gifts of more than nominal value -- the choice in the
latter three instances being up to the sender, whom you must contact
immediately. Obviously, you may not solicit gifts.
In
addition, you generally may accept lunch or dinner only from a source with whom
you are likely to meet often enough to return the favor (the one exception
being an interview over a meal with a source at the person’s offices). In all
other instances, you or Lebanon Opportunities must pay your tab.
You
must use review copies of books, video games, and the like only for editorial
purposes -- or else, as practicable, forward them to a person designated by the
editor-in-chief for donation to charity. You may not sell such materials for
any reason.
You
may accept the use of a review or test model of a new product -- cars,
computers, software, and any other products, including subscription services --
for only as long as your reporting needs require. In
most cases, this means only a few days -- and not for an extended period.
In
situations where a company with whom Lebanon Opportunities has an editorial
partnership offers you favors, you must comply with the InfoPro Code of
Business Ethics, which states in part: "No gift having more than nominal
value and no loan (other than a normal bank loan) may be accepted from any
person or firm having current or prospective dealings with the corporation."
e.
Travel.
You
may not accept junkets -- that is, trips paid for by a source or prospective
source. If a trip is worth taking, Lebanon Opportunities will pay for it. If it
is necessary to fly on a corporate plane, we will reimburse the host company
for the cost. Such travel must be approved in advance by the editor-in-chief or
the managing editor.
f.
Freelancing.
If
you wish to undertake a freelance assignment, have your request approved in
writing by your immediate supervisor and by the editor-in-chief. We will not
grant permission to write for any competing publication or for any work that
first should appear in Lebanon Opportunities or that would interfere with your
work here. In general, you can’t accept an assignment if it would inhibit
Lebanon Opportunities from doing a story.
In
addition, all editorial and business employees must get the editor-in-chief’s
permission before starting a personal blog that focuses on issues or topics
that Lebanon Opportunities regularly covers. You must also ensure that your
personal blog -- whatever the topic -- doesn’t mention your affiliation with
Lebanon Opportunities or InfoPro, and that it never damages the reputation of
Lebanon Opportunities.
Moreover,
no one may undertake an assignment of any kind for a company, industry group,
political party, labor union, or any third party with whom your personal
affiliation might undermine the reputation of Lebanon Opportunities for
impartial and independent journalism.
g.
Personal appearances.
You
must get approval from the editor-in-chief or a designated surrogate for TV and
radio interviews, speeches, and any other appearance as a representative of
Lebanon Opportunities, except when such appearances are arranged by Lebanon
Opportunities’ publicity staff. You may generally identify yourself as a
Lebanon Opportunities employee during discussions or presentations at educational
institutions.
No
one may accept honoraria or expenses for such appearances without the written
consent of the editor-in chief.
1.
You may not use your Lebanon Opportunities affiliation -- including your
business card or business stationery -- for personal advantage in any way. Period.
Among
other things, this means that you will never invoke the Lebanon Opportunities
name or your title when seeking to resolve a personal dispute with a merchant,
financial institution, government agency, or anyone else. You may not court
favoritism based on your Lebanon Opportunities affiliation.
2.
You must avoid high-profile roles in the public spotlight, including in
political campaigns (avoid marches and demonstrations, for example) or in
fundraising that could associate the Lebanon Opportunities name with your
personal causes or beliefs.
3.
You should never endorse a product, with the exception of the one for which you
work.
4.
You may not copy, sell, share, or trade any company-owned or leased software
without the express, written permission of the copyright owner or approval by
the InfoPro. Nor may you copy software from one machine to another without the
express, written permission of the InfoPro legal department.
5.
Computer equipment -- including hardware, software, and any related material --
that Lebanon Opportunities loans to you for use outside the office remains the
property of Lebanon Opportunities. You are to return any loaned equipment at
the end of the assignment and/or at the end of your employment with Lebanon
Opportunities. Software on loaned equipment is owned by Lebanon Opportunities,
and you can’t copy, sell, share, or trade it without Lebanon Opportunities’
written permission.
For
magazines to be trusted by consumers and to endure as brands, readers must be
assured of their editorial integrity. With that core conviction in mind, we
have established these guidelines to make sure that the difference between
advertising and editorial content is transparent to readers and that there is
no advertiser influence or pressure on editorial independence.
Design
a.
Advertisements should look different enough from editorial pages that readers
can tell the difference. We have an obligation to readers to make clear which
content has been paid for, which is sponsored and which is independent editorial
material. All paid content that may be confused with independent editorial
material must be labeled as advertiser-sponsored.
b.
With respect to special advertising supplements or advertorials: The words
advertising, advertisement, special advertising supplement or similar labeling
must appear horizontally at or near the center of the top of every page of such
sections containing text, in type at least equal in size and weight to the
publication’s standard body typeface.
c.
The layout, design, typeface and style of special advertising sections or
custom publishing products must be distinctly different from those of the
publication.
d.
Special advertising sections must not be slugged in the publication’s cover
(including stickers) nor included in the table of contents. In general, the
publication’s name or logo may not appear as any part of the headlines or text
of such sections, except in connection with the magazine’s own products or
services.
e.
Editorial staff members and freelancers used by editorial should not
participate in the preparation of custom publishing or advertising sections,
except that the chief editor may review contents of such sections before they
appear.
Covers
The
front cover and spine are editorial space. Companies and products should appear
on covers only in an editorial context and not in a way that suggests
advertisement. (This includes use of cover “stickers.”)
Logos
Advertiser
logos should not appear on editorial pages except in a journalistic context. A
magazine’s logo should appear on advertising pages only in connection with
advertisements for the magazine and its promotions or when an advertised
product is touting editorial awards that it has won.
Advertising
sections
Editorial-looking
sections or pages that are not produced by a magazine’s editors are not
editorial content. They should be labeled “Advertisement,” “Special Advertising
Section” or “Promotion” at the top of every page in type as prominent as the
magazine’s normal body type.
Product
placement/integration
Advertisers
should not pay to place their products in editorial pages nor should they
demand placement in return for advertising. Editorial pages may display and
credit products and tell readers where to buy them, as long as those pages are
solely under editorial control.
Editorial staff and titling
A
magazine’s editorial staff members should not be involved in producing
advertising in that magazine. Advertising and marketing staff should not use
titles that imply editorial involvement (e.g., merchandising editor).
Editorial
review
In
order for a publication’s chief editor to be able to monitor compliance with
these guidelines, every effort must be made to show all advertising pages,
sections and their placement to the editor far enough in advance to allow for
necessary changes.
Advertising
review
While
editors or publishers at their discretion may share the general topic matter of
upcoming editorial content with advertisers, specific stories, layouts or
tables of contents should not be submitted for advertiser review.
|
CONCLUSION |
Lebanon
Opportunities is committed to this Code. At the same time, we realize that no
document can anticipate all possible circumstances that may arise in the
future. To reiterate: When in doubt, please ask.
It
may be necessary, from time to time, to clarify this set of rules or to modify
them. The editor-in-chief, with the InfoPro legal department, as necessary,
will decide on any clarifications, exceptions, or modifications to this Code.
We expect, however, that clarifications will be rare, and that exceptions will
be narrow.
Please
remember: Lebanon Opportunities’ reputation is its most important asset, and
anything that damages that reputation damages both Lebanon Opportunities and
all of us. As a consequence, if you violate any provision of this Code you will
invite discipline -- up to and including dismissal.