Michael Ramirez, the conservative cartoonist whose services were recently deemed no longer desired by the L.A. Times, has been hired to draw for Investor's Business Daily. He will also be a senior editor. I'm told he was introduced in the offices a couple of days ago and got a nice round of applause. Press release follows.

Also leaving (noted belatedly): Martha Goldstein, the Times' VP for communication. She is taking a position at Crossroads School in Santa Monica, where she is a member of the board of trustees.

Pulitzer Prize-Winning Cartoonist Michael Ramirez Joins Investor's Business Daily(R)

LOS ANGELES--(BUSINESS WIRE)--Jan. 5, 2006--Investor's Business Daily(R) (IBD(R)) has hired Pulitzer Prize winner Michael Ramirez to serve as a senior editor/editorial cartoonist.

"For the last five years we've expanded the depth and content of our editorial page, and Michael is a part of that ongoing effort," said William J. O'Neil, founder and chairman of Investor's Business Daily. "He'll make a strong addition to our editorial page, where we value unique and informed perspectives that are thought-provoking for people of every background."

"IBD already has some of the best editorial writers in the business, so Michael Ramirez -- who stands alone among editorial cartoonists -- is a perfect fit," said Wes Mann, editor of Investor's Business Daily.

At a time when most newspapers are cutting staff, syndicating content and consolidating departments, Investor's Business Daily's decision to hire Mr. Ramirez is unconventional. It represents IBD's ongoing effort to make the quality of its news and commentary a priority of the organization.

"The trend is cost-cutting efficiencies in the news world, and in some instances, media run the risk of weakening the quality of journalism and fostering the 'corporatization' of news," said Ramirez. "I'm pleased to join IBD because of its prestigious reputation -- and the fact it has countered the media consolidation trend and is hiring to enhance journalism quality. It was apparent to me that in every segment of IBD, they're continuing to innovate and provide cutting edge features and powerful and compelling editorials."

Mr. Ramirez is a Lincoln Fellow and has won several awards during his career, including the 1994 Pulitzer Prize, the UCI Medal from the University of California, Irvine and the Sigma Delta Chi Awards in 1995 and 1997. He has been the editorial cartoonist of the Los Angeles Times, the Commercial Appeal and USA Today, and is nationally syndicated in over 450 newspapers around the world.

ABOUT INVESTOR'S BUSINESS DAILY

Investor's Business Daily(R) is a national business newspaper printed at twelve locations. It's digital edition eIBD(TM) and the award-winning companion Web site, www.investors.com are recognized worldwide for empowering individual and professional investors with innovative research, stock screens and proprietary ratings that are not found elsewhere.