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Home "My weekly reader" : a corporate history, 1965-1995 / Cindi Lee Weldy

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"My weekly reader" : a corporate history, 1965-1995 / Cindi Lee Weldy

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Identifier	Thesis 1510
Author	Weldy, Cindi Lee
Title	"My weekly reader" : a corporate history, 1965-1995 / Cindi Lee Weldy
Publisher	Central Connecticut State University
Date	1997
Resource Type	Master's Thesis
Notes	Charles Palmer Davis, visiting a one-room school in New England at the turn of the century, asked the pupils, "Who is the President of the United States?" Of the twenty-five first to fifth graders, only two knew the answer, one of whom was Davis's daughter. Appalled by the students' lack of knowledge of even the simplest current issues, Mr. Davis set out to correct the situation by starting a newspaper written especially for children. The first issue of that newspaper, Current Events rolled off the press on May 20, 1902. Ninety-five years later, Weekly Reader Corporation still publishes Current Events weekly during the school year, along with its better-known sister publication Weekly Reader. Although the company mission, "to write unbiased news at a level children can understand" remains unchanged, the company itself has seen great, even tumultuous changes, much of it coming within the last thirty years. Company ownership shifted over the years from a family-run business, to a university, to a corporation, and then to other corporations. These changes in ownership dictated changes in company policy and organization that, for good or ill, affected the people within the company. The changes within Weekly Reader are a reflection of the changes in the business world generally. It is the purpose of this thesis to examine these changes in the world of business within the last thirty years by studying this prime example of those changes. The 1960s saw the rise of big-business involvement in what many believe would be the country's second-largest industry, education. By the 1970s the involvement waned as large profits in education proved elusive. Rapid inflation and a stagnant economy also characterized the 1970s, and by the end of the decade both problems had conservatives and a minority of liberals calling for business deregulation. The tentative deregulation begun by the Carter administration in airlines, trucking and interest rates flourished in the Reagan era. Accompanying deregulation was a more permissive approach to mergers and speculative finance. By 1988 merger filings were at 320 percent their 1980 level. Corporate "raiders" used mergers, acquisitions, and leveraged buy outs to redistribute corporate assets and raise the price of company stock. Before the Reagan era, Savings and Loan (S&L) regulations required S&Ls to place almost all their loans in stable home-mortgage assets. In 1982 new regulations allowed S&Ls more latitude in investment strategies, and many chose to invest in commercial real estate or corporate acquisitions. New regulation in the early 1990s, along with the S&L crisis, slowed down the raiders, although it did not bring them to a halt. In order to set the changes in Weekly Reader Corporation within the context of the broader business community, it was necessary to research general business trends during the past thirty years. The material for this research most often came from business magazines and newspapers. Financial information on WRC was not as easy to access. The company is, and has been throughout its history, unwilling to share revenue and profit data with the public. WRC has historical files which proved invaluable as a source of information on personalities and events that shaped the company's history. I also interviewed several past and present employees of WRC including the President of the company and the Vice President of Elementary Marketing. Finally, my own knowledge of the company as an employee was a key asset in my research.
Subject	My weekly reader -- History Children's periodicals, American -- History
Department	Department of History
Advisor	Stephenson, Charles William
Type	Text
Digital Format	application/pdf
Language	eng
OCLC number	40049028
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"My weekly reader" : a corporate history, 1965-1995 / Cindi Lee Weldy

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