News In Brief 19 September 2005

New Saturday WSJ Causes Mass Confusion and Panic

Thousands Show Up At Locked Offices; Lower Manhattan Gridlocked

Wall Street and Lower Manhattan were gridlocked Saturday morning as scores of thousands of traders and stock market executives attempted to get into their offices after receiving the new, Saturday edition of the Wall Street Journal.

"I opened my door to get the 'Times and, bam, I see the Journal," said one trader from Citibank. "I didn't stop to think. I just rushed to get dressed and zoomed down here to the office. I never looked at the date on the paper."

Thousands massed outside the New York Stock Exchange, as well as office building throughout lower Manhattan. Some were dressed in suits and ties, others with more casual clothing. There were more than a handful still wearing pajamas.

The scene was replicated in cities across the country, including Chicago, Los Angeles and San Francisco.

Dow Jones, publisher of the Wall Street Journal, said it saw a Saturday issue as a means to beef up its' advertising revenue in entertainment, travel and leisure, by offering softer news and features.

Ironically, the first Saturday-issue editorial called for Wall Street to resume Saturday trading, something the stock exchange stopped doing over a half-century ago.