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Well, Serwer better step it up a bit. Even though Fortune has twice the frequency of Portfolio, only the Condé Nast monthly's Cerberus story manages to get in the Aug. 5 appointment of Robert Nardelli as chief executive officer of Chrysler. Fortune's article has no mention of Nardelli, even though the Time Inc. title extensively covered the controversial executive when he was ceo of Home Depot.
And that's not the only story the two business magazines share. Both cover the New York Yankees, with Portfolio proclaiming "Crisis at Yankee Inc.," and Fortune's cover line reading, "Why the New York Yankees Could be Sold."
Once again, a Portfolio staffer claimed Fortune's piece was a "rush job," after it heard about Portfolio's story. Both magazines posted articles within hours of each other on Aug. 2, although Fortune was the first to report the YES Network, which airs Yankee games, could be up for sale, with Goldman Sachs & Co. testing the waters on its stake in the network.
A Portfolio spokeswoman declined to comment, while the Time Inc. spokeswoman said, "At Fortune we're too focused on putting out our biweekly magazine and breaking news on our Web site to 'steal' stories from another publication."
Responding to those who might question Fortune's story selection in its most recent issue, an insider at Time Inc.'s biweekly quipped, "With Portfolio's continued staff departures and troubles putting out just two issues, it's not surprising they would try and change the subject."