I wrote a story in today’s New York Times about how Dow Jones has lost its spot in the Standard & Poor’s 500, getting replaced by GameStop, a shopping mall seller of new and used video games.
For Dow Jones, the demotion is but one more sign of the painful move into Rupert Murdoch’s fold. For devotees of Dow Jones, it’s bad enough that a king of the tabloids now takes ownership of the Wall Street Journal. Dow Jones is an iconic company, whose very name is synonymous with Wall Street. Yet because it now is no longer a publicly traded company, but instead merely a division of the conglomerate News Corp., Dow Jones has lost its spot on the stock market’s most influential index.
