Bloomberg BNA

Bloomberg BNA
Wholly owned subsidiary
Industry Legal, tax & business news
Founded 1929 (1929)
Founder David Lawrence
Headquarters Arlington, Virginia, US
Key people
 Gregory C. McCaffery (CEO and President)
Owner Bloomberg L.P.
Number of employees
 1,000+
Website BNA.com

Bloomberg BNA, formerly known as The Bureau of National Affairs, Inc. and BNA, is a wholly owned subsidiary of Bloomberg L.P. and a source of legal, tax, regulatory, and business information for professionals. It is headquartered in Arlington, Virginia.[1] The company's CEO and president is Gregory C. McCaffery.

BNA was founded in 1929 by David Lawrence[2] and became employee-owned in 1946. When it was acquired by Bloomberg in September 2011,[3] it was the oldest employee-owned company in the United States.[4]

History

Early history (1929-2011)

The Bureau of National Affairs, Inc. (BNA) was founded in 1929 by newsman David Lawrence as a subsidiary of United States Daily, now known as the US News & World Report.[5] BNA's first publication was U.S. Patent, Trademark & Copyright Reports (now United States Patent Quarterly).[2] In 1946, Lawrence sold BNA to five of his top editors: Dean Dinwoodey, John D. Stewart, Ed Donnell, Adolph Magidson and John Tyler.[6] The editors opened up ownership to the rest of their BNA colleagues and from 1947 until 2011, the company was owned entirely by current and former employees.[4]

Tax Management, Inc., a subsidiary of Bloomberg BNA, was founded in 1959 by Leonard Silverstein to provide tax analysis in the form of the Tax Management Portfolios.[7] The company has published over 500 Portfolios and now offers research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants. It offers federal, state, international tax and accounting services. Tax Management, Inc., is fully integrated into Bloomberg BNA and is based in Arlington, Virginia.

Recent history (2011-Present)

On August 25, 2011, Bloomberg L.P announced it would purchase BNA for an estimated $990 million.[3] The transaction closed in late September 2011 at which time Bloomberg paid $39.50 a share in cash through a tender offer to BNA's employee-owners. Bloomberg purchased BNA to bolster its existing Bloomberg Government, Bloomberg Law and Bloomberg News services and integrated BNA's vast databases and deep reporting of policy into its news and online products.[8]

Timeline

1926 - Publisher David Lawrence launches United States Daily.

1929 - U.S. Patent, Trademark & Copyright Reports; BNA’s first publication launched March 4 (today called United States Patents Quarterly).

1933 - United States Daily folds in the aftermath of President Franklin Roosevelt’s "bank holiday;" converts into a weekly. The United States News - Law Journal launched (later changed to U.S. Law Week).

1941 - Daily Report on Price and Production Controls begins in April; it is the only privately produced publication to receive an unlimited allocation of paper during World War II.

1957 - The National Labor Relations Board certifies the American Newspaper Guild as the bargaining agent for BNA employees (BNA employees are now covered by the Washington-Baltimore Newspaper Guild).

2007 - BNA moves corporate headquarters from the West End of Washington, DC to Arlington, Virginia.

2011 - Bloomberg L.P. announces intent to purchase BNA for an estimated $990 million.

2013 - Bloomberg L.P. announces appointment of Darren MCKewen as President of Bloomberg BNA.[9]

2016 - Bloomberg BNA announces appointment of Dan Fine as Chief Operating Officer (COO).[10]

Products and services

Bloomberg BNA produces more than 350 news publications in a broad array of topics.[11] The company offers solutions to practitioners in the areas of law, tax and accounting, human resources and payroll, and environment, health and safety. The company's network of more than 2,500 reporters, correspondents, and leading practitioners performed practical analysis, news, practice tools, and guidance.[12] Information compiled by Bloomberg BNA's editors and reporters is available to Bloomberg Government and Bloomberg Law subscribers.

Bloomberg Law is a subscription-based product for online legal research.[13] The platform, which Bloomberg L.P. introduced in 2009, provides legal content, proprietary company information and news information to attorneys, law students, and other legal professionals. The service integrates Bloomberg L.P. news with Bloomberg BNA's primary and secondary legal content and business development tools, as well as tools to analyze case law, corporate representation, and judicial history. Features include Litigation and Dockets, Legal and Financial Analytics, Business Development Center, Practice Tools and News and Law Reports.[14] In 2014, Bloomberg Law moved under the umbrella of Bloomberg BNA.[15]

Bloomberg BNA provides tax guidance resources to accounting, corporate and legal professionals that specialize in tax planning and compliance. As part of many of its tax and accounting research products, Bloomberg BNA offers more than 500 ‘’Tax Management Portfolios’’ written by outside practitioners on key tax planning, transactional, jurisdictional or financial accounting issues. Each Portfolio includes an analysis of the alternative approaches to a certain issue, worksheets and practice tools section, sample forms, primary sources and a bibliography.[16]

Bloomberg BNA serves the professional payroll marketplace through products like the Payroll Decision Support Network and the Payroll Library. These products provide news, white papers, customized research answers, along with webinars and research reports. Bloomberg BNA offers products to environment, health and safety professionals to help them with compliance and issues related to safety and liability. These products feature compliance tools, news and analysis, and databases of relevant federal and state laws, regulations, and documents.

Corporate citizenship and awards

BNA provides support to a variety of charities and community organizations. They support the Legal Aid Society of the District of Columbia by offering complimentary access to Bloomberg Law. Michael Bloomberg, the founder of Bloomberg BNA’s parent company formed the charitable foundation Bloomberg Philanthropies in 2006. According to organization’s mission statement, Bloomberg Philanthropies focuses on public health, environment, education, government innovation and the arts.

BNA was named one of the "100 Best Companies to Work For" by Fortune in 1990, 1998 and 2000.[17][18] In 1990, BNA was selected by Working Mother magazine as one of the "100 Best Companies for Working Mothers,” an award it would also receive the next eight years.[19] In 1999, BNA was listed by The Washingtonian magazine as one of the "Best Companies to Work for in Washington”.[19] BNA was given the Business Ethics Award for Employee Ownership by Corporate Responsibility magazine in 2000.[20]

Notable products and publications

References

  1. ↑ Thomson, Amy (25 August 2011). "Bloomberg Agrees to Buy Bureau of National Affairs for About $990 Million". Bloomberg. Retrieved 23 April 2013.
  2. 1 2 "Milestone 1920s-1930s". Bloomberg BNA. Retrieved 12 December 2011.
  3. 1 2 Roose, Kevin (25 August 2011). "Bloomberg L.P. To Buy BNA for $990 Million". The New York Times. Retrieved 12 December 2011.
  4. 1 2 "BNA Announces Corporate Restructuring, New Officers". Bloomberg BNA. 28 April 2009. Retrieved 23 April 2013.
  5. ↑ "Magazine Founder Dies". Lewiston Morning Tribune. 12 February 1973. Retrieved 12 December 2011.
  6. ↑ "Milestones 1940s-1950s". Bloomberg BNA. Retrieved 23 April 2013.
  7. ↑ "Leonard L. Silverstein - People".
  8. ↑ Douglas, Danielle (25 August 2011). "Bloomberg snags BNA for $990M". The Washington Post. Retrieved 12 December 2011.
  9. ↑ "Darren McKewen Appointed President of Bloomberg BNA".
  10. ↑ "Christina Correira and Dan Fine Named to Executive Leadership Positions By Bloomberg BNA".
  11. ↑ Summers, Nick (21 November 2011). "Bloomberg's Plan for World Domination". Newsweek. Retrieved 12 December 2011.
  12. ↑ "About Us".
  13. ↑ Mary Ann Neary and George D. Wilson, "Hello BLaw: Bloomberg Law, the newcomer in legal research, meets academic users", AALL Spectrum (2009).
  14. ↑ "Bloomberg Law Launches Business Development Center - Business Wire".
  15. ↑ http://www.aallnet.org/mm/Publications/spectrum/archives/Vol-20/No-1/vendorvoice.pdf
  16. ↑ http://www.americanpayroll.org/pdfs/pto/bg_1603-2.pdf
  17. ↑ Levering, Robert; Milton Moskowitz; Maura Griffin Solovar (12 January 1998). "The 100 Best Companies To Work For In America". CNN Money. Retrieved 5 January 2012.
  18. ↑ Levering, Robert; Milton Moskowitz; Feliciano Garcia; Karen Vella-Zarb (10 January 2000). "The 100 Best Companies To Work For". CNN Money. Retrieved 5 January 2012.
  19. 1 2 "Milestones 1980s-1990s". Bloomberg BNA. Retrieved 9 January 2012.
  20. ↑ "Business Ethics Annual Award Winners: 1989-2006". Corporate Responsibility Magazine. Retrieved 12 December 2011.

External links

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