Visa Inc. is an American multinational financial services corporation headquartered in Foster City, United States. It facilitates electronic funds transfers throughout the world, most through Visa-branded credit cards, gift cards, debit cards. Visa does not extend credit or set rates and fees for consumers. In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visa's global network processed 100 billion transactions during 2014 with a total volume of US$6.8 trillion. Visa has operations across all continents worldwide with the exception of Antarctica. Nearly all Visa transactions worldwide are processed through VisaNet at one of four secure facilities; the data centers are located in Ashburn, Highlands Ranch, Colorado and Singapore. The data centers are secured against natural disasters and terrorism; every transaction is checked past 500 variables including 100 fraud-detection parameters—such as the location and spending habits of the customer and the merchant's location – before being accepted.
Visa is the world's second-largest card payment organization, after being surpassed by China UnionPay in 2015, based on annual value of card payments transacted and number of issued cards. Because UnionPay's size is based on the size of its domestic market, Visa is dominant in the rest of the world outside of China, with 50% market share of global card payments minus China. In mid-September 1958, Bank of America launched its BankAmericard credit card program in Fresno, with an initial mass mailing of 60,000 unsolicited credit cards; the original idea was the brainchild of BofA's in-house product development think tank, the Customer Services Research Group, its leader, Joseph P. Williams. Williams convinced senior BofA executives in 1956 to let him pursue what became the world's first successful mass mailing of unsolicited credit cards to a large population. Williams' pioneering accomplishment was that he brought about the successful implementation of the all-purpose credit card, not in coming up with the idea.
By the mid-1950s, the typical middle-class American maintained revolving credit accounts with several different merchants, inefficient and inconvenient due to the need to carry so many cards and pay so many separate bills each month. The need for a unified financial instrument was evident to the American financial services industry, but no one could figure out how to do it. There were charge cards like Diners Club, "by the mid-1950s, there had been at least a dozen attempts to create an all-purpose credit card." However, these prior attempts had been carried out by small banks which lacked the resources to make them work. Williams and his team studied these failures and believed they could avoid replicating those banks' mistakes. Fresno was selected for its population of 250,000, BofA's market share of that population, relative isolation, to control public relations damage in case the project failed; the 1958 test at first went smoothly, but BofA panicked when it confirmed rumors that another bank was about to initiate its own drop in San Francisco, BofA's home market.
By March 1959, drops began in San Sacramento. However, the program was riddled with problems, as Williams had been too earnest and trusting in his belief in the basic goodness of the bank's customers, he resigned in December 1959. 22% of accounts were delinquent, not the 4% expected, police departments around the state were confronted by numerous incidents of the brand new crime of credit card fraud. Both politicians and journalists joined the general uproar against Bank of America and its newfangled credit card when it was pointed out that the cardholder agreement held customers liable for all charges those resulting from fraud. BofA lost over $8.8 million on the launch of BankAmericard, but when the full cost of advertising and overhead was included, the bank's actual loss was around $20 million. However, after Williams and some of his closest associates left, BofA management realized that BankAmericard was salvageable, they conducted a "massive effort" to clean up after Williams, imposed proper financial controls, published an open letter to 3 million households across the state apologizing for the credit card fraud and other issues their card raised, were able to make the new financial instrument work.
The original goal of BofA was to offer the BankAmericard product across California, but in 1966, BofA began to sign licensing agreements with a group of banks outside of California, in response to a new competitor, Master Charge, which had be
ProPublica is an American nonprofit organization based in New York City. It is a nonprofit newsroom. In 2010, it became the first online news source to win a Pulitzer Prize, for a piece written by one of its journalists and published in The New York Times Magazine as well as on ProPublica.org. ProPublica states that its investigations are conducted by its staff of full-time investigative reporters, the resulting stories are distributed to news partners for publication or broadcast. In some cases, reporters from both ProPublica and its partners work together on a story. ProPublica has partnered with more than 90 different news organizations, it has won four Pulitzer Prizes. ProPublica was the brainchild of Herbert and Marion Sandler, the former chief executives of the Golden West Financial Corporation, who have committed $10 million a year to the project; the Sandlers hired Paul Steiger, former managing editor of the Wall Street Journal, to create and run the organization as editor in chief. At the time ProPublica was set up, Steiger responded to concerns about the role of the political views of the Sandlers, saying on The Newshour with Jim Lehrer: Coming into this, when I talked to Herb and Marion Sandler, one of my concerns was this question of independence and nonpartisanship...
My history has been doing "down the middle" reporting. And so when I talked to Herb and Marion I said "Are you comfortable with that?" They said, "Absolutely." I said, "Well, suppose we did an expose of some of the left leaning organizations that you have supported or that are friendly to what you've supported in the past."They said, "No problem." And when we set up our organizational structure, the board of directors, on which I sit and which Herb is the chairman, does not know in advance what we're going to report on. ProPublica had an initial news staff of 28 reporters and editors, including Pulitzer Prize winners Charles Ornstein, Tracy Weber, Jeff Gerth, Marcus Stern, but has since grown to 34 full-time working journalists. Steiger claimed; the organization appointed a 12-member journalism advisory board consisting of professional journalists. The newsgroup shares its work under non-commercial license. On August 5, 2015, Yelp announced a partnership with the company to help improve their healthcare statistics.
While the Sandler Foundation provided ProPublica with significant financial support, it has received funding from the Knight Foundation, MacArthur Foundation, Pew Charitable Trusts, Ford Foundation, the Carnegie Corporation, the Atlantic Philanthropies. ProPublica and the Knight Foundation have various connections. For example, Paul Steiger, president of ProPublica, is a trustee of the Knight Foundation. In like manner, Alberto Ibarguen, the president and CEO of the Knight Foundation is on the board of ProPublica. ProPublica has attracted attention for the salaries. In 2008, Paul Steiger, the editor of ProPublica, received a salary of $570,000. Steiger was the managing editor at The Wall Street Journal, where his total compensation was double that at ProPublica. Steiger's stated strategy is to use a Wall Street Journal pay model to attract journalistic talent. In 2010, eight ProPublica employees made more than $160,000, including managing editor Stephen Engelberg and the highest-paid reporter, Dafna Linzer of the Washington Post.
Engelberg is a former New York Times editor who co-wrote the non-fiction book Germs: Biological Weapons and America's Secret War, with Times reporter Judith Miller. In 2010, ProPublica jointly won the Pulitzer Prize for Investigative Reporting for "The Deadly Choices At Memorial", "a story that chronicles the urgent life-and-death decisions made by one hospital's exhausted doctors when they were cut off by the floodwaters of Hurricane Katrina." It was written by ProPublica's Sheri Fink and published in the New York Times Magazine as well as on ProPublica.org. This was the first Pulitzer awarded to an online news source; the article won the 2010 National Magazine Award for Reporting. In 2011, ProPublica won its second Pulitzer Prize. Reporters Jesse Eisinger and Jake Bernstein won the Pulitzer Prize for National Reporting for their series, The Wall Street Money Machine; this was the first time. In 2016, ProPublica won its third Pulitzer Prize, this time for Explanatory Reporting, in collaboration with The Marshall Project for "a startling examination and exposé of law enforcement's enduring failures to investigate reports of rape properly and to comprehend the traumatic effects on its victims."In 2017, ProPublica and the New York Daily News were awarded the Pulitzer Prize for Public Service for a series of reports on the use of eviction rules by the New York City Police Department.
Their team of writers and editors include Scott Klein, Olga Pierce, Sisi Wei, Ryann Grochowski Jones, Lena Groeger, Al Shaw. In December 2012 and January 2013, ProPublica published and reported on confidential pending applications for groups requesting tax-exempt status. In May 2013, after widespread coverage of allegations that the IRS had inappropriately targeted conservative groups, ProPublica clarified that it obtained the documents through a Freedom of Information Act request, writing, "In response to a request for the applications for 67 different nonprofits last November, the Cincinnati office of the IRS sent ProPublica applications or documentation for 31 groups. Nine of those applications had not yet been approved—meaning they were not supposed to be made p
John Perry Barlow
John Perry Barlow was an American poet and essayist, a cattle rancher, a cyberlibertarian political activist, associated with both the Democratic and Republican parties. He was a lyricist for the Grateful Dead and a founding member of the Electronic Frontier Foundation and the Freedom of the Press Foundation, he was Fellow Emeritus at Harvard University's Berkman Klein Center for Internet & Society, where he had maintained an affiliation since 1998. Barlow was born near Cora, Wyoming, as the only child to Norman Walker Barlow, a Republican state legislator, his wife, Miriam "Mim" Adeline Barlow Bailey, who married in 1929. Barlow's paternal ancestors were Mormon pioneers, he grew up on Bar Cross Ranch near Pinedale, Wyoming, a 22,000-acre property founded by his great uncle in 1907, attended elementary school in a one-room schoolhouse. Raised as a "devout Mormon", he was prohibited from watching television until the sixth grade, when his parents allowed him to "absorb televangelists". Although Barlow's academic record was erratic throughout his secondary education, he "had his pick of top eastern universities... because he was from Wyoming, where few applications originated."
In 1969, he graduated with high honors in comparative religion from Wesleyan University in Middletown, Connecticut. He claimed to have served as the University's student body president until the administration "tossed him into a sanitarium" following a drug-induced attempted suicide attack in Boston, Massachusetts. Following two weeks of rehabilitation, he returned to his studies. Prior to receiving his degree, Barlow was admitted to Harvard Law School and contracted to write a novel by Farrar and Giroux at the behest of his mentor, the autodidactic Pulitzer Prize-winning novelist and historian Paul Horgan. Supported by a $5,000 or $1,000 advance from the publisher, he decided to eschew these options in favor of spending the next two years traveling around the world, including a nine-month sojourn in India, a riotous winter in a summer cottage on Long Island Sound in Connecticut, a screenwriting foray in Los Angeles. Barlow finished the novel, but it remains unpublished. During this period, he "lived beside Needle Park on New York's Upper West Side and dealt cocaine in Spanish Harlem."
At age 15, Barlow became a student at the Fountain Valley School in Colorado. While there, he met Bob Weir, who would join the jam band the Grateful Dead. Weir and Barlow maintained their close friendship through the years; as a frequent visitor during college to Timothy Leary's facility in Millbrook, New York, Barlow was introduced to LSD. These transformative experiences led Barlow to distance himself from Mormonism, he went on to facilitate the first meeting between the Grateful Dead and the Leary organization in June 1967. While on his way to California to reunite with the Grateful Dead in 1971, he stopped at his family's ranch, though had not intended to stay, his father had suffered a debilitating stroke in 1966 before dying in 1972, resulting in a $700,000 business debt. Barlow ended up changing his plans, began practicing animal husbandry under the auspices of the Bar Cross Land and Livestock Company in Cora, for two decades. To support the ranch, he continued to sell spec scripts. In the meantime, Barlow was still able to play an active role in the Grateful Dead while recruiting many unconventional part-time ranch hands from the mainstream as well as the counterculture.
Prior to his death in 2017, John Byrne Cooke intended to produce a documentary film that documented this era. Barlow became interested in collaborating with Weir at a Grateful Dead show at the Capitol Theatre in Port Chester, New York, in February 1971; until Weir had worked with resident Dead lyricist Robert Hunter. Hunter preferred that those who sang his songs stick to his "canonical" lyrics rather than improvising additions or rearranging words. A feud erupted backstage over a couplet in "Sugar Magnolia" from the band's most recent release, culminating in a disgruntled Hunter summoning Barlow and telling him "take —he's yours". In late 1971, with a deal for a solo album in hand and only two songs completed and Barlow began to write together for the first time, they co-wrote such songs such as "Cassidy", "Mexicali Blues" and "Black-Throated Wind", all three of which would remain in the repertoires of the Grateful Dead and of Weir's varied solo projects. Barlow subsequently collaborated with Grateful Dead keyboardist Brent Mydland, a partnership that culminated in four songs on 1989's Built to Last.
He wrote one song with Vince Welnick. In 1986, Barlow joined The WELL, an online community known for a strong Deadhead presence, he served on the company's board of directors for several years. In 1990, Barlow founded the Electronic Frontier Foundation along with fellow digital-rights activists John Gilmore and Mitch Kapor; as a founder of EFF, Barlow helped publicize the Secret Service raid on Steve Jackson Games. His involvement is documented in The Hacker Crackdown: Law and Disorder on the Electronic Frontier by Bruce Sterling. EFF sponsored the ground-breaking case Steve Jackson Games, Inc. v. United States Secret Service in support of Steve Jackson Games. Steve Jackson Games won the case in 1993. In 1996, Barlow was invited to speak about his
Xeni Jardin is an American weblogger, digital media commentator, tech culture journalist. She is known for her position as co-editor of the collaborative weblog Boing Boing, as a contributor to Wired magazine and Wired News, as a correspondent for the National Public Radio show Day to Day, she has worked as a guest technology news commentator for television networks such as PBS NewsHour, CNN, Fox News, MSNBC and ABC. Jardin was born in Richmond, Virginia, on August 5, 1970, her father, artist Glenn B. Hamm Jr. died in August 1980 of ALS. She remained in school in Richmond, her brother, Carl M. Hamm, retained their family name, is a Richmond, Virginia-based disc jockey, who performs under the stage name "DJ Carlito". Jardin prefers the name "Xeni Jardin" over her given name. "Xeni" is short for "Xeniflores," while "jardin" is the Spanish and French word for "garden."Prior to becoming a journalist, she was site editor for travel agency Traveltrust Supervisor of Enterprise Web Technology for Latham & Watkins before working at Quaartz, an internet calendaring startup.
Her career as a journalist began in 1999 when she was associated with Jason Calacanis's Silicon Alley Reporter, first as a contributing editor, as Vice President of Silicon Alley's parent company, Rising Tide Studios. In 2001 she became a freelance writer for Wired and other magazines, in 2002 she began contributing to Boing Boing after Mark Frauenfelder met her at a party and invited her to be a co-editor. Jardin has written op-ed pieces for the New York Times and the Los Angeles Times, she has been the main source of an article in The Age talking about the cultural relevance of Wikipedia articles, the source for a New York Times article discussing Boing Boing's part in the creation of the Flying Spaghetti Monster internet meme. Jardin is involved in television and radio work. In 2003, she began contributing the "Xeni Tech" segment for NPR's show Day to Day, has appeared as a guest on the NewsHour with Jim Lehrer to discuss the Washington Post's decision to remove their comments section, she has made appearances on CNN, Fox News, MSNBC and ABC World News Tonight. and featured on the BBC Radio 5 show Pods and Blogs discussing her work at Boing Boing.
Jardin was the host and executive producer of the Webby recognized Boing Boing Video series. Boing Boing Video was offered on Virgin America flights in 2007. Alongside technology and culture, Jardin has been covering the aftermath and atrocities that resulted from the Guatemalan Civil War since 2007. In 2008, Jardin was the executive producer of the web series SPAMasterpiece Theater; each episode features a dramatization of email spam, while the episodes featured dramatic readings of email spam by humorist John Hodgman. In the third episode "Love Song of Kseniya," Jardin reads her own email spam. A June 2008 controversy over Jardin's deleting from public view all posts and links associated with sex blogger Violet Blue in the wake of a falling-out led to discussions about journalism ethics and standards and media transparency. On December 1, 2011, she live-blogged her first mammogram, which returned a positive diagnosis of breast cancer. Since her treatment and recovery she has become an outspoken advocate for the Affordable Care Act.
In 2012, Jardin became one of the initial supporters of the Freedom of the Press Foundation. In December 2016, after a dispute with Julian Assange regarding the relations between Wikileaks and the Trump campaign, she resigned from its board, citing health reasons. Xeni Jardin interviewed on the TV show Triangulation on the TWiT.tv network Official website BoingBoing Blog for which Jardin is a co-editor
Daniel Ellsberg is an American writer and former United States military analyst who, while employed by the RAND Corporation, precipitated a national political controversy in 1971 when he released the Pentagon Papers, a top-secret Pentagon study of the U. S. government decision-making in relation to the Vietnam War, to The New York Times and other newspapers. On January 3, 1973, Ellsberg was charged under the Espionage Act of 1917 along with other charges of theft and conspiracy, carrying a total maximum sentence of 115 years. Due to governmental misconduct and illegal evidence-gathering, the defense by Leonard Boudin and Harvard Law School professor Charles Nesson, Judge William Matthew Byrne Jr. dismissed all charges against Ellsberg on May 11, 1973. Ellsberg was awarded the Right Livelihood Award in 2006, he is known for having formulated an important example in decision theory, the Ellsberg paradox, his extensive studies on nuclear weapons and nuclear policy, for having voiced support for WikiLeaks, Chelsea Manning, Edward Snowden.
Ellsberg was awarded the 2018 Olof Palme Prize for his profound humanism and exceptional moral courage. Ellsberg was born in Illinois on April 7, 1931, the son of Harry and Adele Ellsberg, his parents were Ashkenazi Jews who had converted to Christian Science, he was raised as a Christian Scientist. He attended the Cranbrook School in nearby Bloomfield Hills, his mother wanted him to be a concert pianist, but he stopped playing in July 1946, after both his mother and sister were killed when his father fell asleep at the wheel and crashed the family car into a culvert wall. Ellsberg entered Harvard College on a scholarship, graduating summa cum laude with an A. B. in economics in 1952. He studied at the University of Cambridge for a year on a Woodrow Wilson Fellowship returned to Harvard for graduate school. In 1954, he enlisted in the U. S. Marine earned a commission, he served as a platoon leader and company commander in the 2nd Marine Division, was discharged in 1957 as a first lieutenant. Ellsberg returned to Harvard as a Junior Fellow in the Society of Fellows for two years.
Ellsberg began working as a strategic analyst at the RAND Corporation for the summer of 1958 and permanently in 1958. He concentrated on the command and control of nuclear weapons. Ellsberg completed a Ph. D. in economics from Harvard in 1962. His dissertation on decision theory was based on a set of thought experiments that showed that decisions under conditions of uncertainty or ambiguity may not be consistent with well defined subjective probabilities. Now known as the Ellsberg paradox, this formed the basis of a large literature that has developed since the 1980s, including approaches such as Choquet expected utility and info-gap decision theory. Ellsberg worked in the Pentagon from August 1964 under Secretary of Defense Robert McNamara as special assistant to Assistant Secretary of Defense for International Security Affairs John McNaughton, he went to South Vietnam for two years, working for General Edward Lansdale as a member of the State Department. On his return from South Vietnam, Ellsberg resumed working at RAND.
In 1967, he contributed to a top-secret study of classified documents on the conduct of the Vietnam War, commissioned by Defense Secretary McNamara. These documents, completed in 1968 became known collectively as the Pentagon Papers. Through study of this body of US government records, Ellsberg came to understand about the Vietnam War that: It was no more a "civil war" after 1955 or 1960 than it had been during the U. S.-supported French attempt at colonial reconquest. A war in which one side was equipped and paid by a foreign power – which dictated the nature of the local regime in its own interest – was not a civil war. To say that we had "interfered" in what is "really a civil war," as most American academic writers and liberal critics of the war do to this day screened a more painful reality and was as much a myth as the earlier official one of "aggression from the North." In terms of the UN Charter and of our own avowed ideals, it was a war of foreign aggression, American aggression. By 1969 Ellsberg began attending anti-war events while still remaining in his position at RAND.
He experienced an epiphany attending a War Resisters League conference at Haverford College in August 1969, listening to a speech given by a draft resister named Randy Kehler, who said he was "very excited" that he would soon be able to join his friends in prison. Ellsberg described his reaction:And he said this calmly. I hadn't known, it hit me as a total surprise and shock, because I heard his words in the midst of feeling proud of my country listening to him. And I heard he was going to prison, it wasn't what he said that changed my worldview. It was the example. How his words in general showed that he was a stellar American, that he was going to jail as a deliberate choice—because he thought it was the right thing to do. There was no question in my mind that my government was involved in an unjust war, going to continue and get larger. Thousands of young men were dying each year. I found a deserted men's room. I cried for over an hour, just sobbing; the only time in my life I've reacted to something like that.
Decades reflecting on Kehler's decision, Ellsberg said:Randy Kehler never thought his going to prison would end the war. If I hadn't met Randy Kehler it wouldn't have occurred to me to copy, his actions spoke to me. He put the right question in my mind at th
The open-source model is a decentralized software development model that encourages open collaboration. A main principle of open-source software development is peer production, with products such as source code and documentation available to the public; the open-source movement in software began as a response to the limitations of proprietary code. The model is used for projects such as in open-source appropriate technology, open-source drug discovery. Open source promotes universal access via an open-source or free license to a product's design or blueprint, universal redistribution of that design or blueprint. Before the phrase open source became adopted and producers used a variety of other terms. Open source gained hold with the rise of the Internet; the open-source software movement arose to clarify copyright, licensing and consumer issues. Open source refers to a computer program in which the source code is available to the general public for use or modification from its original design.
Open-source code is meant to be a collaborative effort, where programmers improve upon the source code and share the changes within the community. Code is released under the terms of a software license. Depending on the license terms, others may download and publish their version back to the community. Many large formal institutions have sprung up to support the development of the open-source movement, including the Apache Software Foundation, which supports community projects such as the open-source framework Apache Hadoop and the open-source HTTP server Apache HTTP; the sharing of technical information predates the personal computer considerably. For instance, in the early years of automobile development a group of capital monopolists owned the rights to a 2-cycle gasoline-engine patent filed by George B. Selden. By controlling this patent, they were able to monopolize the industry and force car manufacturers to adhere to their demands, or risk a lawsuit. In 1911, independent automaker Henry Ford won a challenge to the Selden patent.
The result was that the Selden patent became worthless and a new association was formed. The new association instituted a cross-licensing agreement among all US automotive manufacturers: although each company would develop technology and file patents, these patents were shared and without the exchange of money among all the manufacturers. By the time the US entered World War II, 92 Ford patents and 515 patents from other companies were being shared among these manufacturers, without any exchange of money. Early instances of the free sharing of source code include IBM's source releases of its operating systems and other programs in the 1950s and 1960s, the SHARE user group that formed to facilitate the exchange of software. Beginning in the 1960s, ARPANET researchers used an open "Request for Comments" process to encourage feedback in early telecommunication network protocols; this led to the birth of the early Internet in 1969. The sharing of source code on the Internet began when the Internet was primitive, with software distributed via UUCP, Usenet, IRC, Gopher.
BSD, for example, was first distributed by posts to comp.os.linux on the Usenet, where its development was discussed. Linux followed in this model; the term "open source" was first proposed by a group of people in the free software movement who were critical of the political agenda and moral philosophy implied in the term "free software" and sought to reframe the discourse to reflect a more commercially minded position. In addition, the ambiguity of the term "free software" was seen as discouraging business adoption; the group included Christine Peterson, Todd Anderson, Larry Augustin, Jon Hall, Sam Ockman, Michael Tiemann and Eric S. Raymond. Peterson suggested "open source" at a meeting held at Palo Alto, California, in reaction to Netscape's announcement in January 1998 of a source code release for Navigator. Linus Torvalds gave his support the following day, Phil Hughes backed the term in Linux Journal. Richard Stallman, the founder of the free software movement seemed to adopt the term, but changed his mind.
Netscape released its source code under the Netscape Public License and under the Mozilla Public License. Raymond was active in the effort to popularize the new term, he made the first public call to the free software community to adopt it in February 1998. Shortly after, he founded The Open Source Initiative in collaboration with Bruce Perens; the term gained further visibility through an event organized in April 1998 by technology publisher Tim O'Reilly. Titled the "Freeware Summit" and known as the "Open Source Summit", the event was attended by the leaders of many of the most important free and open-source projects, including Linus Torvalds, Larry Wall, Brian Behlendorf, Eric Allman, Guido van Rossum, Michael Tiemann, Paul Vixie, Jamie Zawinski, Eric Raymond. At that meeting, alternatives to the term "free software" were discussed. Tiemann argued for "sourceware" as a new term, while Raymond argued for "open source"; the assembled developers took a vote, the winner was announced at a press conference the same evening."Open source" has never managed to supersede the older term "free software", giving rise to the combined term free and open-source software.
Some economists agree that open-source is an information good or "knowledge good" with original work involving a significant amount of time and effort. The cost of reproducing the work is low enough that additional users may be added at zero or near zero cost – this is referred to as the marginal c
The Washington Post
The Washington Post is a major American daily newspaper published in Washington, D. C. with a particular emphasis on national politics and the federal government. It has the largest circulation in the Washington metropolitan area, its slogan "Democracy Dies in Darkness" began appearing on its masthead in 2017. Daily broadsheet editions are printed for the District of Columbia and Virginia; the newspaper has won 47 Pulitzer Prizes. This includes six separate Pulitzers awarded in 2008, second only to The New York Times' seven awards in 2002 for the highest number awarded to a single newspaper in one year. Post journalists have received 18 Nieman Fellowships and 368 White House News Photographers Association awards. In the early 1970s, in the best-known episode in the newspaper's history, reporters Bob Woodward and Carl Bernstein led the American press' investigation into what became known as the Watergate scandal, their reporting in The Washington Post contributed to the resignation of President Richard Nixon.
In years since, the Post's investigations have led to increased review of the Walter Reed Army Medical Center. In October 2013, the paper's longtime controlling family, the Graham family, sold the newspaper to Nash Holdings, a holding company established by Jeff Bezos, for $250 million in cash; the Washington Post is regarded as one of the leading daily American newspapers, along with The New York Times, the Los Angeles Times, The Wall Street Journal. The Post has distinguished itself through its political reporting on the workings of the White House and other aspects of the U. S. government. Unlike The New York Times and The Wall Street Journal, The Washington Post does not print an edition for distribution away from the East Coast. In 2009, the newspaper ceased publication of its National Weekly Edition, which combined stories from the week's print editions, due to shrinking circulation; the majority of its newsprint readership is in the District of Columbia and its suburbs in Maryland and Northern Virginia.
The newspaper is one of a few U. S. newspapers with foreign bureaus, located in Beirut, Beijing, Bogotá, Hong Kong, Jerusalem, London, Mexico City, Nairobi, New Delhi and Tokyo. In November 2009, it announced the closure of its U. S. regional bureaus—Chicago, Los Angeles and New York—as part of an increased focus on "political stories and local news coverage in Washington." The newspaper has local bureaus in Virginia. As of May 2013, its average weekday circulation was 474,767, according to the Audit Bureau of Circulations, making it the seventh largest newspaper in the country by circulation, behind USA Today, The Wall Street Journal, The New York Times, the Los Angeles Times, the Daily News, the New York Post. While its circulation has been slipping, it has one of the highest market-penetration rates of any metropolitan news daily. For many decades, the Post had its main office at 1150 15th Street NW; this real estate remained with Graham Holdings when the newspaper was sold to Jeff Bezos' Nash Holdings in 2013.
Graham Holdings sold 1150 15th Street for US$159 million in November 2013. The Washington Post continued to lease space at 1150 L Street NW. In May 2014, The Washington Post leased the west tower of One Franklin Square, a high-rise building at 1301 K Street NW in Washington, D. C; the newspaper moved into their new offices December 14, 2015. The Post has its own exclusive zip code, 20071. Arc Publishing is a department of the Post, which provides the publishing system, software for news organizations such as the Chicago Tribune and the Los Angeles Times; the newspaper was founded in 1877 by Stilson Hutchins and in 1880 added a Sunday edition, becoming the city's first newspaper to publish seven days a week. In 1889, Hutchins sold the newspaper to Frank Hatton, a former Postmaster General, Beriah Wilkins, a former Democratic congressman from Ohio. To promote the newspaper, the new owners requested the leader of the United States Marine Band, John Philip Sousa, to compose a march for the newspaper's essay contest awards ceremony.
Sousa composed "The Washington Post". It became the standard music to accompany the two-step, a late 19th-century dance craze, remains one of Sousa's best-known works. In 1893, the newspaper moved to a building at 14th and E streets NW, where it would remain until 1950; this building combined all functions of the newspaper into one headquarters – newsroom, advertising and printing – that ran 24 hours per day. In 1898, during the Spanish–American War, the Post printed Clifford K. Berryman's classic illustration Remember the Maine, which became the battle-cry for American sailors during the War. In 1902, Berryman published another famous cartoon in the Post—Drawing the Line in Mississippi; this cartoon depicts President Theodore Roosevelt showing compassion for a small bear cub and inspired New York store owner Morris Michtom to create the teddy bear. Wilkins acquired Hatton's share of the newspaper in 1894 at Hatton's death. After Wilkins' death in 1903, his sons John and Robert ran the Post for two years before selling it in 1905 to John Roll McLean, owner of the Cincinnati Enquirer.
During the Wilson presidency, the Post was credited with the "most famous newspaper typo" in D. C. history according to Reason magazine. When John McLean died in 1916, he put the newspap