It’s too bad magazines don’t have “beta” periods, because Portfolio could sure use one. Based on the early reception to–and tumultuous infighting at–Conde Nast’s expensive new business slick, we’ve put it on a deathwatch.
Some recent highlights:
- NY Post gives first issue a “B-minus.”
- Online readers cackle at staleness and plummeting traffic of web site.
- Interminable four months between first and second issue.
- Deputy Editor Jim Impoco gets canned by EIC Joanne Lipman, reportedly for insubordination.
- Portfolio.com publishes breaking story filled with TKs (magazine shorthand for “do more research before publishing”)
- Star investigative reporter Kurt Eichenwald exits amid fumes of scandal.
- EIC Joanne Lipman bans use of words “billionaire” and “mansion”
- Level of staff dissatisfaction reportedly “extremely high.”
- Ad pages in second issue fall from 185 to 122.
- NY Post gives second issue a “B.”
- NY Observer publishes expose filled with startling Lipman nuggets, including the observation by one staffer that the ex-WSJ reporter “doesn’t read magazines.”
Given that Conde Nast reportedly invested more than $100 million in this floppy slick, our “Portfolio Deathwatch” is probably premature. However, we’re certainly comfortable launching our “Joanne Lipman Deathwatch,” in honour of the mag’s beleaguered head editor.
Oh, I personally can’t stand business magazines. But I just know you’re going to love this one! Photo: Observer