April 26, 2024

Hearst Hires Troy Young as Digital Media Chief

The job will go to Troy Young, 45, who will be responsible for content, revenue production and development strategies for Hearst Magazines’ 26 online properties, which include Cosmopolitan.com, Elle.com and RealBeauty.com. The job’s purview extends only to magazines’ online brands, not to their print editions.

Mr. Young has not been employed in traditional media since the 1990s, when he worked for Canadian television. He has spent the last 20 years of his career in what is known as the “pure play” digital-only space.

Mr. Young comes most recently from Say Media, an integrated digital media company that builds its own online brands around themes (like ReadWrite, a technology Web site) or charismatic editors (like xoJane, edited by Jane Pratt, the founding editor of Sassy magazine) and then helps advertisers build branded content for those properties.

Before his time at Say, Mr. Young was chief experience officer of the Omnicom digital agency Organic, with clients such as American Express, Virgin Mobile and Chrysler.

David Carey, president of Hearst Magazines, said he chose Mr. Young because “Pure plays are increasingly the companies to watch in terms of how quickly they produce product, the orthodoxies they set aside and how they assemble their talent.”

“We want the pulse of a pure play,” he added.

Mr. Young said he had always worked “at the intersection of strategy and content,” which was particularly useful for what he described as a coming era where advertiser content would blend “seamlessly” with editorial content.

“We are seeing an integration of the advertisers and the content in native advertising,” he said, “and this is not going away.”

Article source: http://www.nytimes.com/2013/05/09/business/media/hearst-magazines-hires-troy-young-as-digital-media-chief.html?partner=rss&emc=rss

F.D.A. Seeks More Control Over Drug Compounders

In a contentious hearing of the House Committee on Energy and Commerce, the commissioner, Dr. Margaret Hamburg, testified that a tangle of conflicting court decisions and the lack of a clear definition of compounding in the law had limited the agency’s ability to build a case against compounding pharmacies that fail to meet basic safety standards.

“There is an enormous lack of clarity, and we should seize this opportunity to address it,” Dr. Hamburg said.

In many cases, such pharmacies are not required to give investigators access to their books, agency officials say. Federal regulators sometimes have to appeal to local courts to gain access to the pharmacies or their records, although, by law, large drug manufacturers must submit to regular inspections. Compounding pharmacies are now regulated primarily by the states.

Dr. Hamburg’s remarks signaled that the Obama administration will press for new legislation in response to the meningitis outbreak, which was caused by contaminated pain medication made by a compounding pharmacy in Massachusetts. So far, 461 people have fallen ill, and 32 of them have died.

The central question is whether the F.D.A. has enough power to crack down on large-scale compounding companies that behave more like drug manufactures than the neighborhood pharmacies that mix medicines for individual patients — the traditional purview of compounders.

Republicans on the committee said the outbreak appeared to have been preventable under existing regulations.  

“After a tragedy like this, the first question we all ask is, ‘Could this have been prevented?’ ” said Representative Cliff Stearns, Republican of Florida, who is chairman of the Subcommittee on Oversight and Investigations. After reviewing documents, he said, “The answer appears to be yes.”

The agency’s critics maintain that the 1938 Food Drug and Cosmetic Act provides it with plenty of authority, but that the F.D.A. failed to use it to shut down the Massachusetts pharmacy, the New England Compounding Center.  

Barry Cadden, the chief pharmacist at the company, and one of the principal owners, invoked his Fifth Amendment right to remain silent in response to every question posed to him during the hearing.

The agency has had dealings with the compounding center in the past, including an inspection in 2002 after reports of problems and a warning letter to the company in 2006. The agency argued that those steps failed to head off the meningitis outbreak in part because the company took advantage of gray areas in the law to elude oversight.

 “Throughout this time, N.E.C.C. has repeatedly disputed F.D.A.’s jurisdiction over its facility,” Dr. Hamburg said in her written testimony.

Republicans on the committee repeatedly cited the 2006 warning letter and the agency’s recent criminal investigation, which involved federal agents seizing computers from the company’s offices.

“We’re just not buying it, doctor,” said Representative Michael C. Burgess, Republican of Texas. “You lack the authority to do anything, yet you send a letter like this?”

Democrats came to Dr. Hamburg’s defense.

 “We need to work together to come up with a solution, but instead what I’m hearing from my Republican colleagues is they want to prosecute the Food and Drug Administration,” said Representative Henry A. Waxman, Democrat of California. “If there’s any ambiguity, it’s our job to clear it up. Why are we looking for anybody to blame other than the company?”

Representative Edward J. Markey, Democrat of Massachusetts, who has proposed legislation to close what he calls regulatory loopholes, said he believed the committee would eventually come together and pass a bill.

Dr. Hamburg proposed requiring large-scale compounders to register with the F.D.A. and report any problems with their products to the agency. She also recommended new labeling requirements that would make clear the origin and the risks of compounded drugs.

Large-scale pharmacy compounding has greatly expanded since the early 1990s, partly because hospitals are increasingly outsourcing the making of the compounded drugs that they need and also because of widespread shortages of medicines made by the big drug manufacturers.

Jess Bidgood contributed reporting from Boston.

Article source: http://www.nytimes.com/2012/11/15/health/fda-asking-for-more-control-over-drug-compounding.html?partner=rss&emc=rss

Economix Blog: Weekend Business Podcast: Bernanke, the Budget and Steve Jobs

Ben Bernanke’s speech at Jackson Hole, Wyo., was sketchier than it might have been about monetary policy but strikingly detailed about fiscal policy.

As chairman of the Federal Reserve, Mr. Bernanke’s official purview is in the monetary, not the fiscal realm, of course. But in a conversation in the new Weekend Business podcast, Catherine Rampell says he seemed to be deliberately vague about the central bank’s own plans.

While he said the Fed’s full toolkit is available as needed, he didn’t spell out what the bank’s actions might entail. On the other hand, he said that short-term fiscal stimulus, combined with longer-term debt reduction, would do much to invigorate the economy.

In another podcast conversation and in the Economic View column in Sunday Business, Richard Thaler, the University of Chicago economist, says Congress has been much better at spending than at budget-cutting, which is part of what he calls a self-restraint problem.

Like people with a New Year’s Day hangover, many members of Congress find it easy to make promises if they needn’t fulfill them for months or years to come. In his view, imposing legal constraints on spending, through a balanced budget amendment or other means, is unlikely to compel effective action. Voters need to be willing to elect mature adults, who, in turn, need to exercise willpower to make better choices for the country, he says.

Steven P. Jobs, who is stepping down as chief executive of Apple, has had an enormous impact in many fields. In a podcast conversation and in the Unboxed column in Sunday Business, Steve Lohr discusses the qualities of Mr. Jobs as a role model. Above all else, he says, Mr. Jobs is an innovator, and his entire career may be seen as a relentless effort to improve the odds of bringing forth innovation, both for himself and in the organizations he has managed.

And the problem of illegal products passed off as health supplements is the focus of a conversation with Natasha Singer, who tackles the subject on the cover of Sunday Business. Federal authorities are struggling to stop the distribution of these black-market goods, which may endanger consumers’ health.

You can find specific segments of the podcast at these junctures: Catherine Rampell on the Fed (33:53); news headlines (25:04); Steve Lohr on Steve Jobs (22:13); Richard Thaler on Congress (15:49); Natasha Singer on black-market supplements (8:59); the week ahead (2:06).

As articles discussed in the podcast are published during the weekend, links will be added to this post.

You can download the program by subscribing from The New York Times’s podcast page or directly from iTunes.

Article source: http://feeds.nytimes.com/click.phdo?i=f434080d8000f43d378220ee5041036a