Netflix wows Wall Street with strong subscriber growth

Netflix (NFLX, Tech30) saw strong membership growth in the first quarter of 2015 with it totaling 62.3 million members on the service.

The streaming site reported 4.9 million new members were added in the first quarter of the year.

This number was up from the 4 million subscribers it added in the same quarter last year.

Investors seemingly loved what they saw from the report with the stock soaring as much as 13% in after hours trading. At these levels, the company's stock should open at all-time highs on Thursday.

The company also announced that it broke through 40 million members in the U.S.

"We think strong U.S. growth benefited from our ever-improving content," the company said in a letter to investors.

Netflix didn't exceed all expectations. The company came up short in its earnings per share with $0.38, which was well under its projection of $0.60. Netflix explained that the EPS numbers took a hit due to currency exchange losses because of the surging dollar, and without that would have been $0.77.

One of Netflix's chief competitors, HBO, got into the subscription video marketplace earlier this month with the $15 a month "HBO NOW." Yet, the company didn't seem too concerned with the cable network's presence.

"As we have said in the past, Netflix and HBO are not substitutes for one another given differing content," the company said in its letter to investors. "We think both will continue to be successful in the marketplace."

Netflix's earnings come at a time where the company is launching new shows and is also seeing a bit of resurgence in its original programming slate.

Last year, CBS chief research officer David Poltrack was critical of the company saying that the service hadn't had a hit since 2013.

Yet, in the past few months, the company has introduced new series like "Bloodline," "Unbreakable Kimmy Schmidt," and Netflix's first Marvel series, "Daredevil," all of which have amassed critical acclaim and positive reaction from viewers.

Away from the successful premieres of its new original shows, Netflix also inaugurated the third season of "House of Cards" in February.

The political thriller starring Kevin Spacey is one of the company's trademark programs, but some wondered if it would return for another season. Netflix put that doubt to rest in April when it confirmed that the drama would return for a fourth season in 2016.

"House of Cards" won't be the only Netflix original returning next year.

Early on Wednesday, the company announced that another of its beloved original series, "Orange Is the New Black," would also return for a fourth season in 2016.

Related: CNNMoney's Tech30

CNNMoney (New York) April 15, 2015: 6:40 PM ET

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Etsy crafts a $267 million IPO

Etsy is now the largest certified socially-responsible company, or B Corporation, to go public in the U.S. It will begin trading Thursday on the Nasdaq under the ticker symbol "ETSY." The online marketplace is a place for people to buy and sell crafts and other handmade and vintage items.

So far, investors don't seem overly worried that Etsy's focus on long-term sustainability will clash with Wall Street's focus on short-term profitability.

Etsy priced its initial public offering at $16 a share on Wednesday evening -- the high end of its expected range. The deal raised a total of $267 million. Based in Brooklyn, the company is now worth nearly $1.8 billion.

Can it scale? The biggest question facing Etsy is how the e-commerce company can ramp up in size while maintaining its identity as a place where customers can find unique goods that are not mass produced. Losing that niche identity could do real harm to Etsy's business, which has thrived thanks in part to its fiercely loyal base of buyers and sellers.

Investors need to assess "the confidence that this company can scale without going to the dark side of full commercialism," said Kathleen Smith, a principal at Renaissance Capital, which is a manager of IPO exchange-traded funds, or ETFs.

Related: Can a do-good company jive with Wall Street?

Competing interests? In its IPO prospectus, Etsy acknowledged a key risk facing potential investors is that the company's "focus on long-term sustainability may negatively influence our short-or medium-term financial performance."

In other words, Etsy may want to do things that won't please investors who mostly care about the stock price. For example, Etsy said it could invest in alternative forms of shipping that reduce the impact on the environment but are most expensive.

"We investors want sustainable results," said Smith.

Etsy's ability to manage these competing interests will be key.

"Public companies are held to a different standard, and Etsy needs to be prepared for public market scrutiny, regardless of how artisanal they are," said James Gellert, CEO of Rapid Ratings.

Related: Starbucks should join Etsy as a B Corporation

Crafting a profit would be a start: That scrutiny will eventually call for a path to profitability, something that's been missing from the online marketplace. Etsy has posted net losses in each of the past three years.

"Considering the company's lack of profitability and capital structure inefficiency, Etsy has a long way to go before they're a long-term sustainable business," said Gellert.

Related: GoDaddy races onto Wall Street with IPO

Is Etsy a bargain? However, its revenue has been on the rise amid the site's growing popularity. Sales jumped 56% last year to $195.6 million.

Smith said Etsy's IPO range doesn't look expensive, at least compared with the sales multiples placed on other fast-growing e-commerce companies that have commission models such as eBay (EBAY, Tech30), Alibaba (BABA, Tech30), GrubHub (GRUB) and Yelp (YELP).

"It's possible this (stock) could have a real cult following. They already have a cult following as a community," said Smith.

Etsy has already shown a willingness to do things differently than Wall Street is used to. It created a program that gives vendors and other mom-and-pop investors the chance to buy as much as $2,500 in stock before its public debut. Normally those early purchases are exclusive to rich investors.

"That's caused some angst among institutional investors," said Smith.

It probably won't be the last thing Etsy does that makes Wall Street nervous.

Related: Get the balloons ready for Party City's IPO

CNNMoney (New York) April 15, 2015: 6:48 PM ET

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GM shielded from ignition lawsuits by bankruptcy rule

The decision by Federal Bankruptcy Court Judge Robert Gerber upholds GM's so-called bankruptcy shield. GM acquired the shield as part of its bankruptcy reorganization when a new company was created in 2009, referred to in court as "New GM."

"Judge Gerber properly concluded that claims based on Old GM's conduct are barred," the automaker said in a statement.

The shield had been challenged both by some personal injury attorneys as well as lawyers suing on behalf of owners of the recalled cars to recover damages for the diminished value of the recalled cars.

The decision could prevent lawsuits that would have cost "New GM" billions of dollars.

"This ruling padlocks the courthouse doors," said Robert Hilliard, one of the attorneys suing GM. "Hundreds of victims and their families will go to bed tonight forever deprived of justice. GM, bathing in billions may now turn its back on the dead and injured, worry free."

The decision left the possibility for some suits to proceed if the plaintiffs can prove misdeeds by the company after the 2009 bankruptcy, "so long as those plaintiffs' claims do not in any way rely on any acts or conduct by old GM."

The old and new version of the tiny part that is at the center of the GM recall.

GM (GM) shares were up about 1% in after-hours trading following the decision.

Problems with millions of cars with faulty ignition switches, most of them built before the bankruptcy, have been tied to at least 84 deaths. It is not immediately clear how many of the accidents occurred after the bankruptcy. Accidents that occurred in the years following 2009 were not protected by the shield.

GM has admitted that its employees were wrong not to order a recall of the cars about a decade before the 2014 recall.

The decision will not stop GM from paying an estimated $400 million to victims and their family members. But GM set up a compensation fund voluntarily without waiving the legal protections it acquired as part of the bankruptcy process on pre-2009 accidents.

Related: Recall victim - GM shouldn't get a tax break from settlement

Related: Barra's recall apology not enough, families say

Related: GM settles second suit with recall whistle-blower

CNNMoney (New York) April 15, 2015: 7:03 PM ET

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Will Hillary Clinton support a $15 minimum wage?

If Hillary Clinton wants to woo the left, she'll likely have to support $12 to $15 an hour.

President Obama made waves in his 2013 State of the Union address when he unexpectedly announced he wanted to raise the federal minimum wage to $9 an hour, from the current $7.25. A year later, he called for $10.10 an hour.

But advocates and lawmakers on the local level have moved well beyond that $10 rate. Seattle and San Francisco have raised their minimum wage to $15, while Massachusetts' rate is now $11. Lawmakers in other states, including Oregon and California, also want to boost the floor on wages.

Related: Jack Lew: Higher minimum wage = stronger economy

Senator Patricia Murray of Washington and some of her Democratic colleagues want to see the minimum wage raised to $12 by 2020.

"The days of $9 to $10 an hour are over, for sure," said Tsedeye Gebreselassie, senior staff attorney at the National Employment Law Project, one of the groups involved in the 'Fight for $15' movement to raise the wages of fast-food workers and others.

The project believes presidential candidates that are serious about rebuilding the middle class need to support raising the minimum wage to at least $12 an hour and to commit to additional hikes in the future. It recently published a report showing that 42% of American workers make less than $15 an hour.

"Low-wage occupations in sectors such as retail, home care and restaurants are among the fastest-growing in the country," said Christine Owens, the group's executive director. "If we want an economy that is balanced and shares prosperity fairly, we must raise wages in these sectors so that they can serve as the cornerstones to rebuilding our nation's disappearing middle class."

Public pressure to raise wages has already pushed several companies to hike pay. Walmart will boost its minimum wage to $10 by next Feb. 1, while starting pay at 1,500 McDonald's-owned restaurants will increase to at least $1 an hour more than the minimum wage set by local laws, as of July 1.

Related: McDonald's gives workers a raise, but is criticized for not going far enough

Clinton has long supported raising the minimum wage. As a senator, she introduced legislation in 2007 to increase the rate to $9.50, and as first lady, she advocated for the successful 1996 push to boost it to $5.15, according to Correct the Record, a pro-Clinton web site.

More recently, Clinton has voiced support for raising the rate, but hasn't put a number on it. Her spokesman did not return emails seeking comment.

A recent report by the Center for American Progress, run by a former top Clinton policy adviser, may give some insight into her thinking. The report on building prosperity recommended setting the wage to at least $10.10 an hour, which would prevent full-time workers from living in poverty.

But supporting a minimum wage increase can mean walking a tightrope between workers and businesses, which Clinton also needs to court. Many business owners have said they can't afford a rate hike and any boost will cost jobs.

A 2014 Congressional Budget Office report shows the conflict between the two sides. Raising the minimum wage to $10.10 is projected to lift 900,000 workers out of poverty, but it would also mean the loss of 500,000 jobs.

Related: Low-wage workers plan major strike

CNNMoney (New York) April 14, 2015: 6:57 PM ET

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U.S. fines Corinthian Colleges $30 million

The department found that the Corinthian-owned Heald College, based in San Francisco, misrepresented employment numbers to prospective students and the government.

"Instead of providing clear and accurate information to help students choose which college to attend, Corinthian violated students' and taxpayers' trust," said DOE Under Secretary Ted Mitchell in a statement.

An investigation found that Heald College paid temp agencies to hire its graduates to work on its own campuses for as little time as two days so that it could count those students as employed. Heald failed to disclose that its placement rates counted those students whose employment began prior to graduation, and in some cases prior to even enrolling at the school, according to the Department of Education.

Related: Why 100 Corinthian students are refusing to pay off their debt

It also says Heald College sometimes inaccurately reported on graduates who found a job related to their field of study. In one example, it counted a 2011 accounting graduate who was working at a Taco Bell.

A Corinthian spokesman called the allegations "highly questionable" and "unsubstantiated."

"Heald has a well-documented track record of providing quality education and significant value to its students for more than 150 years—and should be allowed to continue to do so," he said.

Related: University of Phoenix has lost half its students

Heald College was acquired by Corinthian in 2010 and currently has 9,000 students and employs 1,000 faculty and staff.

Corinthian's network of for-profit schools once included 100 campuses across the country, but the government has forced it to close or sell off its locations over concerns about its high-interest loans and misleading information. A majority of its schools have been sold to the nonprofit Zenith Education Group, but that sale didn't include the Heald campus.

Corinthian is in hot water for allegedly preying on low-income people with high-interest loans and is facing lawsuits brought by the Consumer Financial Protection Bureau and attorneys general in California, Massachusetts and Wisconsin.

In February, the government struck a deal with the company acquiring some of Corinthian's campuses, forcing it to wipe out $480 million in debt. Ongoing lawsuits could increase that amount.

More than 100 former students are refusing to pay off loans they used in order to attend the network of colleges owned by Corinthian, and nine state attorneys general have asked the government to cancel their debt.

The fine further threatens Heald's future by imposing an additional financial burden on prospective buyers, a Corinthian spokesman said.

It has 14 days to respond to the Department of Education's decision. At that time, the agency could force the school to stop enrolling any more students and prepare to help current students either finish their degree or transfer elsewhere.

Once a cash cow industry, for-profit education companies have struggled to overcome criticism of the quality of its education and the costs. The University of Phoenix has lost more than half of its students in the past five years.

CNNMoney (New York) April 14, 2015: 7:11 PM ET

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How Grumpy Cat makes her millions

Grumpy Cat is part of an elite group of furry animals around the globe who have shot to Internet fame in recent years. These fuzzy creatures sign book and movie deals, do photo shoots, and act as "spokesanimals" for ad campaigns -- netting piles of cash for their owners.

Experts say the phenomenon is made possible by the rise of social media, which is changing how we interact with lovably fuzzy creatures.

Social media "adds a personal connection, so if you're interested in a character like Grumpy Cat, then either people will send you more anecdotes or videos, or you can go and seek it out," said Karen North, a social media expert and professor at the University of Southern California.

It's "a way of getting entertainment in the hands of audience members who become evangelists of the content, and spread it wider than the originator ever dreamed," North said.

Related: China spends $1.5 billion pampering pets

Owners can monetize their pets via multiple sources -- product endorsements, licensing agreements and even original merchandise.

It all starts with building a massive following online. Viral pet owners can also consider registering a trademark, whether it's a name or a distinctive feature, to help protect against any copycats, said Marty Brochstein of the International Licensing Industry Merchandisers' Association.

"Is there some specific recognizable aspect to it that makes it other than just a cat?" Brochstein said. "In terms of bringing in business, it's just like any other celebrity -- you have an agent who is either fielding offers or ferreting out business opportunities."

Grumpy Cat, for example, has an easily identifiable sourpuss face -- the product of an underbite and feline dwarfism, a genetic condition. The look has entranced millions of web followers, leading to Grumpy Cat designer apparel, a New York Times best-selling book, a movie and a coffee brand -- Grumppuccino.

The licensing and merchandising deals have translated to buckets of cash for Grumpy Cat's owner, Tabatha Bundesen.

"Grumpy Cat is making millions!," said North. "It's shocking!" Bundesen didn't respond to requests for comment.

And yes, Grumpy Cat has a manager, as does Hong Kong's own celebrity cat, Brother Cream, a chubby white and tan feline who lives in a local convenience store. Brother Cream has thousands of social media followers, and fans who visit from around the globe want to know about everything from his bowel movements to public appearance schedule, owner Ko Chee-Shing said.

Like Grumpy Cat, Brother Cream has done commercials or promotions for major brands such as L'Occitane, Shu Uemura, Microsoft (MSFT, Tech30) Xbox and Nikon (NINOY). Ads featuring his image are plastered across the city's public buses, airport baggage carts and subway stations. Groupies can buy handbags, stickers, books and folders with his image.

Related: Big dogs suffer as Hong Kong status symbols

Brother Cream has been paid hundreds of thousands of dollars for his work, padding out a stellar five-page resume. So much money has flooded in that Ko started a non-profit to dole funds out for charitable purposes, including animal rescue and food aid programs.

His fame has even helped bring more customers to Ko's shop, one of the few remaining independent convenience stores in a market dominated by international chains 7-Eleven and Circle K.

Brother Cream, who initially did nuzzle a hello to this reporter, later declined to answer any questions in favor of a nap -- in true celebrity fashion.

Related: Doggie dates have come to Tinder!

CNNMoney (Hong Kong) April 14, 2015: 8:54 PM ET

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Will.i.am is selling sheets made from old Coke bottles

Will.i.am is partnering with Coke and W Hotels on a line of bed sheets partially made from old plastic bottles.

It's not that he's fallen on hard times in the music biz, it's more that he's into recycling. So the Black Eyed Peas frontman has partnered with Coke (KO) and W Hotels on a line of bedding made with at least 30% recycled plastic.

The sheets will soon be on all W hotel beds worldwide. They don't look or feel any different than the hotel's current sheets -- the plastic is used to make polyester and simply replaces the virgin polyester currently used in the blended fabric. Each king-sized sheet will contain about 31 plastic bottles.

For W, the move was about being more eco-friendly as well as saving money. The new sheets are more durable and can be washed up to 200 times before wearing out (compared to about 100 washes now).

Related: L.A. to control its street lights with a single laptop

The sheets will also be available for purchase at the W's store, though they aren't cheap -- a set starts at $207.

They'll carry both the W and Ekocycle brand. Ekocycle is a broader partnership between Will.i.am and Coke to use recycled content in more products.

Will.i.am said he got the idea for Ekocycle back in 2008 after attending conferences on corporate social responsibility and hearing about how firms want to cut waste.

"A lot of times the companies say what they want to do, but not how they're going to do it," he said. "Or they do it, but they don't tell anyone."

Related: The activist nun reforming for-profit prisons

So he pitched Coke with an idea to market recycled plastic to other firms that wanted to green their products. Coke bit, and Ekocycle launched in 2012. It now has its name on over 150 products including shoes, luggage, bicycles and chairs. Companies that want to use the Ekocycle brand pay a royalty, which is shared between Coke and Will.i.am.

"Our resources are not forever," Will.i.am said. "Sustainability is going to be something we're all talking about."

If all this sounds like a bunch of people making money while burnishing their green credentials, it is. But it's also important for those with branding experience to create a market for recycled material. This is especially true now that the cost of oil -- which is virgin plastic's main ingredient -- is so low. Cheap virgin plastic puts recycled plastic at a disadvantage.

"Recycling is more than just putting stuff in the right bin," said Darby Hoover, a resource specialist at the Natural Resources Defense Council. "And it's good that Coke is taking responsibility for its bottles."

CNNMoney (New York) April 13, 2015: 6:25 PM ET

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Hillary channels Elizabeth Warren in campaign bid

In her video campaign announcement Sunday, Hillary Clinton unveiled what's expected to be the central theme of her presidential bid: Serving as a champion for "Everyday Americans."

"Americans have fought their way back from tough economic times, but the deck is still stacked in favor of those at the top," she said in the short video. "Everyday Americans need a champion and I want to be that champion. So you can do more than just get by. You can get ahead and stay ahead."

Long considered a centrist, Clinton sounded strikingly similar to Warren, the outspoken darling of the left wing, which has been pushing the Massachusetts senator to run for the 2016 nomination. (So far, she has declined.) Warren's main talking point: Give every American a fighting chance.

"America's middle class is under attack. It's in trouble because the game is deliberately rigged," Warren wrote in her memoir, A Fighting Chance. "I am determined -- fiercely determined -- to do everything I can to help us once again be the America that creates opportunities for anyone who works hard and plays by the rules."

Related: Elizabeth Warren: 8 ways to restore the middle class

Warren's proposals to boost middle class prosperity include: Raising the minimum wage, supporting bargaining rights for workers, ensuring workers get overtime pay and creating good paying jobs through investments in roads, bridges, power grids, education and research, among other things.

In an election where every candidate is focused on the middle class, Clinton may have to shift left to appeal to the Democratic base. She and her advisers have been speaking to income inequality and economic mobility gurus, including Joseph Stiglitz of Columbia University and Raj Chetty of Harvard, according to media reports.

Stiglitz, a Nobel-prize winning economist, has argued that income inequality has exploded over the past 30 years. The widening gap endangers economic growth and makes it harder for people to achieve the American Dream.

Related: Stiglitz on how to fix the income gap

Chetty, on the other hand, focuses on economic mobility. His work has found that residents in communities with higher rates of segregation and income inequality, as well as fewer two-parent families, are less likely to climb the economic ladder.

Clinton's new top talking point is increasing opportunity for all Americans. She reiterated this in a new epilogue to the paperback versions of her book, Hard Choices, excerpted on Huffington Post on Friday. In it, she noted the advantages that her first grandchild, Charlotte, will have.

"Too few of the children born in the United States and around the world today will grow up with the same opportunities as Charlotte," she wrote. "I'm more convinced than ever that our future in the 21st century depends on our ability to ensure that a child born in the hills of Appalachia or the Mississippi Delta or the Rio Grande Valley grows up with the same shot at success that Charlotte will."

But some diehard liberal Democrats, including Warren, want to hear more on how Clinton plans to reduce inequality. So far, they say Clinton's message is long on rhetoric and short on specific policies.

A Clinton spokesman did not respond to a request for comment.

Related: NYC's Bill de Blasio not ready to endorse Hillary Clinton yet

New York City Mayor Bill de Blasio, who managed Clinton's Senate campaign in 2000, made waves when he said Sunday that he is holding off on endorsing Clinton until he learns more about her vision.

Warren, meanwhile, is also waiting for more details.

Asked in February by the Reverend Al Sharpton on MSNBC whether Clinton would be a "progressive warrior," Warren said "that's what we've got to see."

"I want to hear what she wants to run on and what she says she wants to do," Warren said.

Related: Republican? Or Elizabeth Warren? Who said it?

CNNMoney (New York) April 13, 2015: 6:18 PM ET

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High-skilled visa applications hit record high

These locations saw the most H-1B visa recipients in 2013, the only year for which data is currently available.

But it's getting tougher to "win" a work visa each year.

This year, 233,000 foreigners applied for the H-1B, the most common visa for high-skilled foreign workers. That's up significantly from 2014 (172,500 applications) and nearly double the applicants from two years ago (124,000).

"I'm not surprised by how high the number is," said immigration lawyer Tahmina Watson of Watson Immigration Law. "The world has changed and the law has not kept up with the world."

The U.S. Citizenship and Immigration Services will grant just 85,000 H-1B visas (20,000 of which are reserved for master's degree holders), which it selected on Monday via a lottery process. The unlucky applicants will get the $325 filing fee back.

Watson says the number of applicants is proof that Congress needs to act.

Proposed bills like I-Squared Act would lift the quota to 195,000 visas annually. There is also a proposed bill for a Startup Visa. If passed, this would transfer foreign entrepreneurs currently in the H-1B pool into a separate category.

In the meantime, states like Massachusetts and Colorado have introduced programs to help applicants get around the H-1B cap.

"Businesses really need to fill positions," said Watson, "... and people will not be able to get their dream jobs."

Related: These cities have the most high-skilled foreigners

Related: The next Google is one visa away from leaving the U.S.

CNNMoney (New York) April 13, 2015: 6:28 PM ET

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Rand Paul launches attack website on Hillary Clinton

The top of the site has a photo of Paul with his quote: "Hillary Clinton's attacks on liberty and the constitution make her unfit to serve as President of the United States."

Paul tweeted a link to the site Sunday morning, and his campaign issued a press release that he will launch the first advertisement against Clinton.

A YouTube video autoplays with an attack ad: "Hillary Clinton represents the worst of the Washington machine. The arrogance of power, corruption and coverup, conflicts of interest and failed leadership with tragic consequences."

The site also has a few dozen shareable images with the text, "Liberty Not Hillary," including Twitter (TWTR, Tech30) and Facebook (FB, Tech30) cover photos and profile images.

LibertyNotHIllary.com, which redirects to a special page on randpaul.com, was registered to Harris Media LLC. The company is a political PR firm that has done work for prominent Republican candidates.

Related: 'Hillary' websites going for up to $295K

Related: Rand Paul gets scolded by Fox News hosts

CNNMoney (New York) April 12, 2015: 3:14 PM ET

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Donald Trump: I don't want T-Mobile in my hotels

The Donald and the CEO of T-Mobile (TMUS) became embroiled in an epic Twitter battle this weekend, in which Trump said he wanted T-Mobile out of his establishments.

"T-Mobile service is terrible! Why can't you do something to improve it for your customers. I don't want it in my buildings," Trump tweeted Saturday at John Legere, T-Mobile's chief executive and no Twitter slouch himself.

The candid and brash Legere, who frequently drops F-bombs and once crashed (and was thrown out of) an AT&T (T, Tech30) party, fired back at Trump.

"I will serve all customers in the USA openly but I will obviously leave your hotel right away based on this. #checkingout," Legere tweeted.

Oh, if it only stopped there. The Donald, as he typically does, claimed victory.

"T Mobile service sucks and it took a Trump to call him out! @realDonaldTrump for President!"

But Legere didn't give up, firing off a tweetstorm that continued into Sunday morning. Legere, by far, delivered the lowest blows of the Twitter war.

"checked out.. Now I don't have to watch tv with the 1st 9 channels being the Trump family saying how wonderful they are:)"

Legere later added, "I am so happy to wake up in a hotel where every single item isn't labeled 'Trump' and all the books and TV is about him"

Trump also continued tweeting about T-Mobile into Sunday. In case you're wondering which carrier Trump uses, he said he believed Verizon was the best provider, tweeting Verizon's famous coverage map.

Related: This is the fastest cell phone network ever

Related: T-Mobile will pay $650 for you to switch

CNNMoney (New York) April 12, 2015: 12:54 PM ET

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The 'Hillary beat': Who's covering Clinton

The New York Times was particularly early out of the gate. The paper shifted reporter Amy Chozick to its politics team to cover Clinton in the summer of 2013 -- 649 days before Clinton's announcement on Sunday.

By the end of that year, BuzzFeed put reporter Ruby Cramer on the "Hillary beat." CNN promoted White House correspondent Brianna Keilar to serve as its lead Clinton reporter in early 2014. And last spring, the Washington Post assigned the same role to reporter Anne Gearan, who had covered Clinton during her time as secretary of state.

Chozick, who covered Clinton's failed 2008 presidential bid for the Wall Street Journal, told CNNMoney that she has relished her time on the beat ahead of the campaign launch.

Related: Gloria Borger analysis - What is Hillary Clinton thinking?

"I've loved the past 18 months or so when I've mostly written enterprise stories, observed Clinton at low-key events in New York and elsewhere and had the time to study up and get to know the people who will be characters in the narrative that will begin to take shape after Sunday's announcement," Chozick said.

Chozick said she's been to Arkansas, where former President Bill Clinton served as governor for 12 years, at least six times. She said she has read every "credible" book on the Clintons.

"That time was critical because as soon as the daily grind of a presidential campaign starts it's hard to find time to sleep, much less thoroughly study your subject," Chozick said.

The early coverage speaks to Clinton's stature. Unlike other presidential aspirants, the former secretary of state is already a household name and one of the most recognizable people in the world.

Related: Hillary Clinton's economic plans need overhaul

News outlets have devoted far more resources to Clinton than potential general election foes like Jeb Bush or Scott Walker. That has only tightened the competition to break news on Clinton.

Earlier this year, the New York Times poached former Politico writer Maggie Haberman, widely considered to be the best-sourced reporter in Clinton's orbit, to supplement the newspaper's coverage of the Democratic frontrunner.

The Clinton-focused scribes will also face competition from veteran reporters like Glenn Thrush of Politico and Julie Pace of the Associated Press. On Saturday, Pace nabbed a scoop on the Clinton campaign's economic message.

The assignment is a potential career-maker. Campaign reporters have often followed candidates to the White House. Pace covered President Obama's 2008 campaign and continued to report on him throughout his first term. In 2013, the AP promoted her to White House correspondent.

Covering a candidate before she's officially a candidate posed certain difficulties to the reporters.

"It's been challenging and frustrating to know that there was a campaign forming and a message being crafted and people being hired, and really only being able to see and write about a small portion of it," said Gearan, the Washington Post reporter.

Gearan said she has spent much of the last year cultivating sources in Iowa. "I'm certainly ready to get on with it," she added.

Clinton has given regularly scheduled speeches since last summer, and the recent controversy surrounding her use of a private email account at the State Department generated plenty of media attention. But many of the stories on Clinton's assumed presidential ambitions have been previews of her campaign.

"There's been a lot of stage-setting," Politico's Annie Karni said. "One story everybody is writing is what will Bill Clinton's role be. That's an important factor in the race and a big question to answer, but while we're in campaign-in-waiting mode, it is a stage-setting story."

Karni, who left the New York Daily News in March to cover Clinton for Politico, noted a tangible campaign development earlier this month.

Along with her colleague Gabriel Debenedetti, Karni reported that Clinton's team had signed a lease in Brooklyn for a campaign headquarters.

"If you think about it, signing a lease is a small thing," Karni said. "But it was something concrete to show us that it was coming and it took on new significance because there was nothing else official going on."

More news has trickled out since then. On Thursday, a group of reporters gathered at the Washington, D.C. home of Clinton campaign chairman John Podesta for an off-the-record dinner. Clinton's team hosted a similar gathering on Friday night in New York.

The dinners could be seen as an effort by Clinton to improve her complicated relationship with the press. At an awards ceremony last month, Clinton said, at least partly in jest, that she was interested in forging a "new relationship with the press."

"So here it goes. No more secrecy. No more zones of privacy. But first of all, before I go any further. If you look under your chairs, you'll find a simple nondisclosure agreement," she joked.

For reporters on the "Hillary beat," the outreach hasn't gone unnoticed.

"I'd say that everyone is trying to start off on the right foot, just being friendly as human beings and acknowledging that this is our job," Karni said. "There's an effort to start off on a collegial note and to get along."

CNNMoney (New York) April 12, 2015: 8:39 PM ET

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The Obamas paid $93,362 in federal income taxes

President Obama and First Lady Michelle Obama reported about the same amount of income in 2014 as they did in 2013.

President Obama and First Lady Michelle Obama reported $495,964 in gross income last year, according to their 2014 tax returns released by the White House on Friday afternoon.

The president's salary accounted for nearly $395,000 of that, while their net business income came to $88,181 from Random House and literary management company Dystel & Goderich. They also earned about $16,000 in taxable interest.

After accounting for $17,400 in tax-deferred retirement savings and a $1,181 deduction for the self-employment payroll taxes they paid, their adjusted gross income came to $477,383, just a little less than they earned the year before.

Related: Top 400 taxpayers' average income jumps to $336 million

So how much of all that went to Uncle Sam? The Obamas' federal income tax bite came to $93,362, or 19.6% of their AGI.

A piece of that tax burden -- $2,035 -- was attributable to the Medicare surtax on high earners that was created to help fund Obamacare.

The Obamas donated $70,712, or about 15% of their AGI, to more than 30 charities.

They also paid $22,640 in income taxes to their home state of Illinois.

CNNMoney (New York) April 10, 2015: 6:33 PM ET

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HBO still hasn't heard from Scientology lawyers for 'Going Clear'

"Facts are stubborn things," HBO CEO Richard Plepler said in an interview with CNNMoney this week.

"Everybody's entitled to their own opinion, but they're not entitled to their own facts," he added. "I think the documentary bears up very well to any kind of scrutiny."

Sheila Nevins, the president of HBO's documentary division, had a similar comment -- "facts are facts" -- when asked about the film at a party on Wednesday held by The Hollywood Reporter.

The March 29 premiere of "Going Clear" scored the highest overnight viewership for an HBO documentary in nine years. Nevins and Plepler pointed out that the documentary is still reaching new viewers every day thanks to repeats and HBO's various on-demand services.

John Travolta isn't interested in watching HBO's Scientology documentary 'Going Clear.'

"Going Clear" was back in the news this week when John Travolta, a member of the church, said he was uninterested in seeing it.

The documentary, by well-known filmmaker Alex Gibney, is based on the book of the same name by Lawrence Wright.

In an interview before the premiere, Gibney said he was well aware of the possibility that Scientology might try to strike back with lawsuits.

But, he said, "we were very rigorous in terms of how we checked our story, how we had it scrutinized extensively by lawyers -- not only my own lawyers but by HBO's lawyers," Gibney said.

Nevins once commented that there were "probably 160 lawyers" involved, but she meant that hyperbolically.

HBO's other recent documentary success was "The Jinx," a six-part series about the troubled multi-millionaire Robert Durst, a suspect in several murders.

There have been questions about the extent of filmmaker Andrew Jarecki's communication with law enforcement, particularly due to the recording of Durst apparently saying to himself he "killed them all."

"I can tell you unequivocally we did not withhold any evidence," Plepler said, calling Jarecki "very scrupulous."

"I think what's important to remember is that a 30-year -- 30-year -- murder mystery was essentially opened up" by Jarecki and his colleagues, Plepler added.

HBO and the parent of this web site, CNN, are both owned by Time Warner.

CNNMoney (New York) April 10, 2015: 6:34 PM ET

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Hillary Clinton's economic plans need an overhaul

Clinton is expected to begin her presidential campaign this weekend, yet she's stayed mum on the economy -- something she hammered on during the 2008 campaign.

"She's a blank check at this point," says Dean Baker, co-director for the Center for Economic and Policy Research. "She'll be pressed to take positions."

America's economy has come a long way from 2008. Back then, the country was headed toward a recession. The unemployment rate was climbing -- eventually on its way to 10% -- while America's housing market was collapsing. The divide between Wall Street and Main Street was just beginning to widen, some argue.

Now, unemployment is down to 5.5% -- not far from its target level. Last year was America's best year of job growth since 1999. However, some big issues remain. Inequality is worsening and most people's wages have barely grown.

How Hillary approaches inequality, as well as her relationships with Wall Street and Main Street, will be key to her success in this campaign.

Here's how Hillary may shift her approach for 2016:

Related: 'Hillary' websites going for up to $295k

1. How will she tackle Inequality?

Then: Clinton heavily criticized President George W. Bush for his handling of the economy in 2008. She zeroed in on jobs losses, rising inequality and no wage growth.

While the economy hadn't fallen off a cliff yet -- unemployment was 5.6% when she lost the primary race -- her inequality rhetoric resonated with many Americans.

A Republican president ineligible for another election presented an easy punching bag for Clinton on inequality.

"President Bush had one final chance tonight to acknowledge what the American people have known for years: that the economy is not working for middle class families," Clinton said of Bush's State of the Union address in January 2008.

Now: Those problems haven't changed much under President Obama, but Clinton is unlikely to throw the same darts at her former boss.

Inequality is arguably worse now, and wage growth remains the economy's sore spot. In 2008, median weekly wages were $796 -- the exact same amount at the end of 2014, adjusted for inflation, according to the Labor Department.

Clinton must carefully calculate an inequality message without distancing herself from Obama's economic achievements, experts say.

"It s a very different world" from 2008, says Gary Burtless, an economist at the Brookings Institution. "There's more anger out there about the economy and inequality. She'll modify the rhetoric she uses."

Related: The tough task of going through Hillary's emails

2. Too cozy with Wall Street?

Then: The stock market boomed during Bill Clinton's time in office. Hillary liked to remind Wall Street of that in 2008. The tech boom, free trade agreements and bull market were all hallmarks of President Clinton's economy.

Bill had cemented a relationship with Wall Street that Hillary benefited from in 2008, says Larry Sabato, a politics professor at the University of Virginia.

"She was the candidate of Wall Street" in 2008, says Sabato.

Now: Wall Street is still expected to doll out millions to Hillary's campaign, but she must tip-toe more carefully around that support, experts say. The recession generated a scathing image of the bankers who helped finance Hillary's run in '08.

Most recently, democratic senator Elizabeth Warren is hammering big banks for more reforms and could press Hillary and others to take stance as well.

Hillary will have to find the balance between appealing to the Warren democrats that want greater financial change and Clinton's loyal Wall Street donor base, experts say.

"She'll want the populist rhetoric but also the money," says Sabato. With the Clintons, "the money comes first and it may be completely separate from the rhetoric."

Related: He serves BBQ to Bill & Hillary Clinton

3. Can she connect with Main Street?

Then: Clinton ridiculed President Bush in 2008, telling USA Today that the "moneyed class" had reaped all the benefits of his economy.

As a New York senator -- and former First Lady -- she championed middle class jobs, minimum wage laws and pushed for health care reform.

Several years later, Clinton's relationship with the moneyed class is much more public and perhaps political dynamite for her economic policies during this campaign.

Now: Average Americans are still struggling. Inequality is a much bigger issue than it was eight years ago, propelling Thomas Piketty's 700-page book "Capital in the 21st Century" to bestseller status last year.

Experts say Clinton's problem will be connecting with typical Americans. Since leaving the State Department, Hillary has made a fortune on speeches and her book, on top of Bill's well-known wealth.

Knowing this perception, Clinton plans to hold small campaign events this week geared at giving face time to average folks. How Clinton tries to relate to Americans on hot topics like inequality, middle class jobs and the federal minimum wage could be key early on.

Clinton has already tried once to convince Americans she had it hard. One political slip-up came when she wrote in her book, "Hard Choices" that she and Bill were "dead broke" when they left the White House in 2001. The comment was widely viewed as out-of-touch with Main Street realities.

"It was just bizarre," says Baker. The Clinton's wealth "is not anyone's idea of flat broke."

Related: 'President' Hillary Clinton: Good for stocks?

CNNMoney (New York) April 11, 2015: 9:05 AM ET

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BuzzFeed reposts deleted Dove article

BuzzFeed reposted a story about Dove soap after questions arose over why it had been deleted.

"I blew it," Editor-in-Chief Ben Smith wrote in a memo that he tweeted Friday. "Twice in the last couple of months, I've asked editors -- over their better judgment and without any respect to our standards or process -- to delete recently published posts from the site."

Smith added that he "reacted impulsively when I saw the posts and I was wrong to do that" and that both posts would be reinstated with a brief note.

One of the deleted then reinstated stories was posted in February and concerned the game of Monopoly. The other was posted to the site's "Life" page on Wednesday and was critical of a Dove advertising campaign.

"This post was inappropriately deleted amid an ongoing conversation about how and when to publish personal opinion pieces on BuzzFeed," an update read on the reinstated story. "The deletion was in violation of our editorial standards and the post has been reinstated."

Gawker noticed the deletion on Thursday and raised the question whether the article was taken down due to the BuzzFeed's relationship to Unilever, Dove's owner, and a BuzzFeed advertiser.

Hasbro, the makers of Monopoly, is also an advertiser.

Smith denied that advertiser pressure was behind the Dove story deletion.

"You also have a right to ask about whether we did this because of advertiser pressure, as Gawker suggested," Smith wrote to the BuzzFeed staff on Friday. "The answer is no."

Soon after Gawker's story on Thursday, Smith posted a memo on Twitter written by BuzzFeed Life editorial director Peggy Wang and BuzzFeed Food editor Emily Fleischaker.

The memo said that the piece was pulled due to the article's voice and not its content.

"When we approach charged topics like body image and feminism, we need to show not tell," the memo read. "Using our own voices (and hence, BuzzFeed's voice) to advance a personal opinion often isn't in line with BuzzFeed Life's tone and editorial mission."

Or as Smith said in the tweet attached to the Thursday memo: "We are trying not to do hot takes."

On Friday, Smith made it clear that advertiser pressure is something he tries to shield his staff from.

"I field complaints all the time from companies and individuals, including advertisers, and I see it as my job to shield you from that pressure," he wrote.

Related: BuzzFeed wants to expand its content empire.

CNNMoney (New York) April 10, 2015: 6:14 PM ET

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The Obamas paid $93,362 in federal income taxes

President Obama and First Lady Michelle Obama reported about the same amount of income in 2014 as they did in 2013.

President Obama and First Lady Michelle Obama reported $495,964 in gross income last year, according to their 2014 tax returns released by the White House on Friday afternoon.

The president's salary accounted for nearly $395,000 of that, while their net business income came to $88,181 from Random House and literary management company Dystel & Goderich. They also earned about $16,000 in taxable interest.

After accounting for $17,400 in tax-deferred retirement savings and a $1,181 deduction for the self-employment payroll taxes they paid, their adjusted gross income came to $477,383, just a little less than they earned the year before.

Related: Top 400 taxpayers' average income jumps to $336 million

So how much of all that went to Uncle Sam? The Obamas' federal income tax bite came to $93,362, or 19.6% of their AGI.

A piece of that tax burden -- $2,035 -- was attributable to the Medicare surtax on high earners that was created to help fund Obamacare.

The Obamas donated $70,712, or about 15% of their AGI, to more than 30 charities.

They also paid $22,640 in income taxes to their home state of Illinois.

CNNMoney (New York) April 10, 2015: 6:33 PM ET

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HBO still hasn't heard from Scientology lawyers for 'Going Clear'

"Facts are stubborn things," HBO CEO Richard Plepler said in an interview with CNNMoney this week.

"Everybody's entitled to their own opinion, but they're not entitled to their own facts," he added. "I think the documentary bears up very well to any kind of scrutiny."

Sheila Nevins, the president of HBO's documentary division, had a similar comment -- "facts are facts" -- when asked about the film at a party on Wednesday held by The Hollywood Reporter.

The March 29 premiere of "Going Clear" scored the highest overnight viewership for an HBO documentary in nine years. Nevins and Plepler pointed out that the documentary is still reaching new viewers every day thanks to repeats and HBO's various on-demand services.

John Travolta isn't interested in watching HBO's Scientology documentary 'Going Clear.'

"Going Clear" was back in the news this week when John Travolta, a member of the church, said he was uninterested in seeing it.

The documentary, by well-known filmmaker Alex Gibney, is based on the book of the same name by Lawrence Wright.

In an interview before the premiere, Gibney said he was well aware of the possibility that Scientology might try to strike back with lawsuits.

But, he said, "we were very rigorous in terms of how we checked our story, how we had it scrutinized extensively by lawyers -- not only my own lawyers but by HBO's lawyers," Gibney said.

Nevins once commented that there were "probably 160 lawyers" involved, but she meant that hyperbolically.

HBO's other recent documentary success was "The Jinx," a six-part series about the troubled multi-millionaire Robert Durst, a suspect in several murders.

There have been questions about the extent of filmmaker Andrew Jarecki's communication with law enforcement, particularly due to the recording of Durst apparently saying to himself he "killed them all."

"I can tell you unequivocally we did not withhold any evidence," Plepler said, calling Jarecki "very scrupulous."

"I think what's important to remember is that a 30-year -- 30-year -- murder mystery was essentially opened up" by Jarecki and his colleagues, Plepler added.

HBO and the parent of this web site, CNN, are both owned by Time Warner.

CNNMoney (New York) April 10, 2015: 6:34 PM ET

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Cosmopolitan magazine secures first Chelsea Manning interview

Chelsea Manning seen in a photo she sent to a military supervisor in 2010.

The article marks the first time Manning has spoken "as an army private who leaked classified documents, went to military prison, and sued for the right to transition into living as a woman in jail," according to the story, which is in the magazine's May issue and online.

Manning was convicted of violations of the Espionage Act in 2013 for turning over a trove of classified data to the website WikiLeaks. Since the conviction as Private Bradley Manning, the soldier has transitioned, in prison and aided by federal funding, into a transgender woman.

"I'm fascinated by the character of Chelsea Manning; I'm fascinated by the fact that Julian Assange was played by Benedict Cumberbatch, the hottest thing in town, in a big Hollywood movie and yet Chelsea Manning disappeared from view," Cosmopolitan editor-in-chief Joanna Coles said in an interview with CNN.

She pointedly added that without Manning, there would be no WikiLeaks as it's known to the public today.

Manning has penned opinion pieces for The New York Times and The Guardian from prison. With Cosmopolitan, she shared a more personal side, detailing her experience as a transitioning woman in prison.

Writer Abigail Pesta, an investigative journalist and contributor to the magazine, communicated with Manning through letters since the military does not allow prisoners to speak to the press by phone.

Coles estimated that the piece was in the works for about a year. Pesta brought the idea to Coles.

We "were very interested in the transition to Chelsea and the idea of transitioning to being a women in a men's prison. I couldn't get my head around it," she said.

Coles called it an idea that was "hiding in plain sight," but no doubt a huge get for the women's magazine.

"As an editor I like to have something unexpected and a surprise in each issue. I imagine our readers will be as fascinated as I am by this story," she said.

Though Manning declined to comment on the WikiLeaks reveal, she talked about life behind bars: studying in the prison library, working out in the gym, and visits from friends and family.

Thus far, she said, there has been no harassment from other inmates regarding her transition.

"The guys here are adults ... There are some very smart and sophisticated people in prisons all across America — I don't think television and the media give them credit," she says to Pesta.

Manning said she receives fan-mail from around the world, including from celebrities and even Edward Snowden.

The Cosmopolitan article is reflective of the way gender identity is increasingly receiving mainstream media attention.

Coles pointed out that Netflix's "Orange Is The New Black" is a "huge show" among Cosmo readers.

More broadly speaking, "transgender people are having a moment in our culture right now," she said, illustrated by the success of Amazon's TV series "Transparent" and Bruce Jenner's rumored -- but not confirmed -- gender transition.

As for Cosmo getting the Manning scoop, well, it might be an example of how Coles has given the Hearst brand a 21st century face-lift. She took the helm in 2012.

Earlier this year a New York magazine profile connected Coles to a new ("4th -- or Is It 5th?") wave of feminism.

Coles shrugged off this definition in an interview, though, and insists she's pragmatic.

"I come from this point of view of being an editor," she said. "I never have an agenda; my only agenda is finding interesting stories, and people have interpreted that as being political."

Last June, Cosmopolitan snagged an exclusive interview with ousted New York Times executive editor Jill Abramson. The magazine has beefed up original reporting with hires like Jill Filipovic, an attorney and senior political writer for the magazine.

"Women's magazines get patronized," Coles said. "And that's unfair."

But as news organizations continue to chase Cosmo's reports like the Manning profile, or Elle's recent profile of Ruth Bader Ginsburg, that will likely change.

Chelsea J. Carter, Ashley Fantz, Jethro Mullen, and Larry Shaughnessy contributed to this report.

CNNMoney (New York) April 9, 2015: 4:23 PM ET

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Norah O'Donnell seen as Bob Schieffer's possible successor

CBS is not commenting. That's partly because no concrete decision about Schieffer's successor has been made, according to people with direct knowledge of the process.

But speculation immediately centered around Norah O'Donnell, Schieffer's primary substitute. Other names include CBS's chief White House correspondent Major Garrett and political director John Dickerson.

Related: Legendary CBS anchor Bob Schieffer to retire this summer

O'Donnell, who The Hollywood Reporter just this week called "a rising star" at CBS, has been in line for "Face the Nation" for years.

There is one obvious hurdle, however, and that's her current job: co-host of "CBS This Morning" Mondays through Fridays. The morning show makes a lot more money than Sunday's "Face the Nation," and lately it's been on a growth spurt, though it remains in third place behind "Good Morning America" and "Today."

O'Donnell could theoretically have both jobs -- the way ABC's George Stephanopoulos co-hosts "GMA" on the weekdays and competes with Schieffer on the weekends as the moderator of "This Week."

She would be the only woman among the hosts of the major Sunday morning public affairs programs that hold a special place in the nation's capital.

"I think Sunday mornings are a gem," she said last year when asked by The Washington Post whether she'd like to take over for Schieffer someday.

She said she didn't think the opportunity would come open anytime soon: "Do I love filling in for Bob? Yes. Do I think he's going to do that show for a long time? Yes. You don't leave something that you're number one at."

Indeed, Schieffer's timing surprised some observers, since "Face the Nation" has solid ratings -- #1 by some rankings, ahead of ABC's "This Week" and NBC's "Meet the Press" -- and since the 2016 presidential election is coming up.

He said on Wednesday night that he'll sign off sometime this summer. The timing will let the new host settle into the job before the primary season officially gets underway.

O'Donnell is certainly not the only option. Garrett is also a sub for Schieffer, and he doesn't have a morning show complication like O'Donnell does. Garrett joined CBS in 2012 after working at Fox News and National Journal.

Dickerson, "CBS This Morning" co-host Charlie Rose and CBS Congressional correspondent Nancy Cordes have all also been mentioned, too.

With Schieffer stepping down, there are now two openings among the lineup of Sunday morning political talk shows.

The other opening is at CNN, where "State of the Union" anchor Candy Crowley stepped down last December. The cable channel (which owns this web site) has been having guest anchors fill in, and has not named a permanent replacement.

Related: NBC News has a new boss. What's on his to-do list

Related: ABC's David Muir on Brian Williams' woes: 'I wouldn't wish it on anyone'

CNNMoney (New York) April 9, 2015: 6:35 PM ET

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Google doesn't care where you went to college

Not really, according to Laszlo Bock, Google's Head of People Operations.

When the company was small, Google cared a lot about getting kids from Harvard, Stanford, and MIT. But Bock said it was the "wrong" hiring strategy. Experience has taught him there are exceptional kids at many other places, from state schools in California to New York.

"What we find is the best people from places like that are just as good if not better as anybody you can get from any Ivy League school," said Bock, who just authored a book titled "Work Rules!" and stopped by CNNMoney to share his smarts.

Every year, 2 million people apply to get a job at Google (GOOG). Bock himself has seen some 25,000 résumés.

So what else does Google not care about:

Grades: Google's data shows that grades predict performance for the first two years of a career, but do not matter after that.

Brainteasers: Gone are interview questions such as: Why are manhole covers round? or How many golf balls can fit in a school bus? "Our research tells us those questions are a waste of time," Bock said. "They're a really coachable skill. The more you practice, you get better at it."

A shoe: "Somebody sent me a shoe once with a résumé tucked inside because they wanted to get their foot in the door." That one didn't work.

Or a robot: Especially when it arrived broken, with exposed wires and a "press here" button. Call in the bomb squad.

Here's what Google does care about:

Problem solvers: Your cognitive ability, or how well you solve problems.

Leaders: The idea is not whether you were president of the student body or vice president of the bank, rather: "When you see a problem do you step in, help solve it," and then critically, "Are you willing to step out and let somebody else take over, and make room for somebody else? Are you willing to give up power?"

Googleyness: That's what Google calls its cultural fit. It's not "Are you like us?" Bock said. "We actually look for people who are different, because diversity gives us great ideas."

What's most important is that people are intellectually humble, willing to admit when they're wrong, and care about the environment around them ..."because we want people who think like owners not employees," Bock said.

The least important thing? Knowing how to do the job.

"We figure if you get the first three right you'll figure it out most of the time."

Inside Google's office in the Netherlands.

CNNMoney (New York) April 9, 2015: 8:30 PM ET

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Zynga founder Mark Pincus is back as CEO

Zynga (ZNGA), maker of games like Words with Friends and FarmVille, announced the leadership change, effective immediately, on Wednesday.

Pincus replaces Don Mattrick, a former Microsoft and Electronic Arts executive, who was brought on a little under two years ago to resurrect Zynga. His efforts have not produced the expected turnaround.

Zynga's stock price and user base slipped under his leadership. At the end of the fourth quarter, despite the fact that revenues were up year-over-year, its number of monthly users dropped 3%.

Mark Pincus, Chief Executive Officer, Zynga

BTIG research analyst Richard Greenfield had called for Mattrick to resign.

"We have been highly skeptical of Zynga's prospects over the past two and a half years," Greenfield wrote in a report, noting the time when BTIG downgraded its rating on Zynga.

After-hour shares of Zynga were trading down 10%.

Related: Zynga founder went from FarmVille to the pot business

-- Additional reporting by CNNMoney's Patrick Gillespie

CNNMoney (New York) April 8, 2015: 7:03 PM ET

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YouTube without ads? Yes, for a price

The plan hasn't been publicly announced, but YouTube has contacted some of its best-known video creators to brief them on it.

The big question, impossible to answer for now, is whether the economics will really benefit the creators. Bloomberg published YouTube's letter to them on Wednesday.

"Your fans want choices," the letter says, before describing the idea for "an ad-free version of YouTube for a monthly fee."

For now, the site is not revealing how much the monthly fee would be. (The Verge's sources say it'll be "around $10.") But the letter says it'll be good for creators because it'll "generate a previously untapped, additional source of revenue for you."

YouTube, a unit of Google, is by far the world's largest video web site. It has spawned careers for any number of web video makers, some of whom have become genuine stars even off of YouTube.

But some of them have been dissatisfied for a long time with the amount of money they make from all the video views they rack up.

"The average YouTube ad rate" is only "$2 per thousand views," famed web video maker Hank Green recently wrote in a blog post on Medium. And YouTube only gives creators 55%; it keeps the rest.

In order to mature as a medium, Green concluded in his blog post, web video is going to require more subscription revenue. Or as he put it in a headline: "People Have to Pay."

But YouTube hasn't found much success with its subscription experiments in the past. Some of its partners dabbled with paid channels back in 2013 with little show for it.

A few months ago YouTube tried something new -- Music Key -- a paid site which gives users access to songs without ad interruptions.

Now the web site is coming up against new competitors who are making big financial promises to producers.

Vessel, for instance, a startup from Hulu's founding CEO Jason Kilar, is offering web video stars the same kind of dual revenue stream that cable channels have: Ad revenue and subscription revenue.

Vessel launched in March. There is a free version that's a lot like YouTube, but the heart of the site is a $2.99-per-month version that gives subscribers early access to videos.

Participating video makers have committed to posting new videos on Vessel three days before posting them on YouTube or anywhere else.

The idea is to make web videos a lot more profitable for their stars and producers, more like the television business model. They keep 70% of the ad revenue and 60% of the subscription revenue.

On Wednesday Vessel scored its biggest name yet -- Ellen DeGeneres. A handful of videos from DeGeneres's daytime talk show will debut on Vessel's paid site before they're shared on her own web site.

Kilar's venture is all about having two ways to get paid simultaneously.

It sounds like YouTube's plan is different. It's about having two separate ways.

People who want to eschew ads will be able to "opt out" and pay a fee instead. Video makers will receive 55% of the subscription revenues, the same split that already exists for ads on the site.

YouTube CEO Susan Wojcicki previously dropped hints about an ad-free subscription version of the site at a Re/code conference last fall.

"YouTube right now is ad-supported, which is great because it has enabled us to scale to a billion users; but there's going to be a point where people don't want to see the ads," she said.

The company declined to say much more on Wednesday.

"While we can't comment on ongoing discussions, giving fans more choice to enjoy the content they love and creators more opportunity to earn revenue are always amongst our top priorities," a spokesperson said.

CNNMoney (New York) April 8, 2015: 7:51 PM ET

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Legendary CBS anchor Bob Schieffer to retire this summer

Schieffer, 78, has been with CBS News for 46 years, and has moderated the network's Sunday morning public affairs talk show for the past 24 years.

In addition to his role at "Face the Nation," Schieffer is also the Chief Washington Correspondent for CBS News.

Schieffer announced that he would be moving on from the news business during a symposium at Texas Christian University.

"This is where my professional career began, this is where I wanted all of you to be the first to know, this summer I am going to retire," he said, according to CBS.

Schieffer is one of the most revered reporters in CBS history. He has won multiple awards and interviewed every president since Richard Nixon.

Most recently he interviewed President Obama in November. "Face the Nation" celebrated its 60th anniversary last year.

CNNMoney (New York) April 8, 2015: 9:12 PM ET

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March Madness is a TV slam dunk: Highest ratings in 22 years

Duke edged out Wisconsin for its fifth national title.

Coverage of the 2015 NCAA men's college basketball tournament scored the highest viewership in 22 years, averaging 11.3 million total viewers, according to Nielsen.

The tournament's final game, the Duke/Wisconsin National Championship, netted the highest rating for a NCAA title game in 18 years.

An average of 28.3 million total viewers tuned in to watch the Duke Blue Devils capture its 5th national championship by defeating the Wisconsin Badgers 68 to 63.

The heavily contested game peaked in its final moments with an average of 33.4 million viewers tuning in to see Duke take the crown. It was an unexpected win -- only 9.3% of the 11.5 million ESPN.com brackets picked Duke to win it all.

The big ratings are good news for the many companies that bought ad time during the tournament.

For the live game broadcasts, 201 brands including companies like AT&T (T, Tech30), Buick, and Capital One (COF) accounted for $1.07 billion in TV ad revenue during March Madness, according to ispot.tv, a platform that tracks TV ads in real time.

Related: Kentucky vs. Wisconsin nets biggest Final Four ratings in 22 years

The tournament -- which started in mid-March -- was broadcast on CBS (CBS), TBS, TNT, and truTV.

Back in 2011, Turner Sports (which is owned by Time Warner (TWX), which also owns this website) and CBS paid billions for the rights to the games through 2024.

March Madness also had a strong showing online. NCAA March Madness Live, the tournament's streaming app, set several records, one of which was generating 80.7 million live video streams during this year's event.

The app also set a record for Monday's National Championship with 3.4 million live video streams.

On social media, March Madness had 350 million impressions across Facebook (FB, Tech30) and Twitter (TWTR, Tech30) -- a 45% increase over 2014.

One of the more memorable moments was Villanova's "Sad Piccolo Player," who became a viral meme.

Related: March Madness Snapchat style

CNNMoney (New York) April 7, 2015: 4:49 PM ET

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Psychiatrist wants patients to see his name in the New York Times

Is this narcissistic?

"Please print this letter so that when my patients Google me they will see that their psychiatrist and psychoanalyst has been published in The New York Times," wrote Levin, who lives in the Philadelphia area and has had a practice for about 30 years.

The letter, which was published in the Times on Tuesday, made an immediate splash on Twitter, where it was applauded by journalists like New York Daily News columnist Harry Siegel.

"Well played, Bruce J. Levin," Siegel tweeted.

Levin was inspired to write in after reading a story published in the Times on Sunday. The story, titled "Do You Google Your Shrink?," explored how the psychiatric community has adjusted to exposure of personal information in the online age. Levin was not the only psychotherapist who responded to the story.

One reader from Queens argued that "patients always knew a great deal about the person they were talking to" -- even before the advent of the Internet. Another reader from Indiana said that she would turn away any patient who arrived at her office with a trove of information retrieved from the Internet.

Levin opted for levity.

"I just read the article, and it struck me, 'What would Stephen Colbert or Larry David say about something like this?'" he told CNNMoney.

Levin grew up in New York, and he said he's been reading the paper of record since he was a kid.

"I've had some letters in the Times," he said, a modest reference to his more than half-a-dozen missives that the Times has published.

His first published letter came in response to a column by Maureen Dowd. In the letter, Levin applauded Dowd's "depiction of the sweeping cultural and social drug revolution that has shamelessly affected our country." He said Dowd emailed him to express her gratitude.

"A couple people were very hostile to her point of view, and she felt like I understood what she was talking about," Levin recalled.

Levin has relished the response this week to his cheeky letter. He received a phone call from an old high school friend who he hadn't spoken to in years. His son, a college student, told him about the reaction on social media.

"This is the first time I've ever looked at anything on Twitter," Levin said.

He also received an email from a fellow psychiatrist who got a kick out of the letter.

And how did the colleague retrieve Levin's contact information? By Googling him, of course.

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CNNMoney (New York) April 7, 2015: 6:30 PM ET

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What Rand Paul's flat tax plan would look like

He also wants to simplify the tax code, eliminate the estate and gift taxes and wipe out investment taxes too.

And he wants to do it by way of a "flat tax."

"As President, I would promote a Fair and Flat Tax plan, known as the 'EZ Tax.' My tax plan would be the largest tax cut in American history, reforming individual, business, and worker taxes," the Libertarian-leaning senator from Kentucky wrote on his new 2016 campaign Web site.

Related: Rand Paul: 'I am running for president'

The big idea behind a flat tax: Move from an income tax system with many rates to one single rate. Kill all but a few tax breaks. And make all investment income tax free. Generally, the goal is to only tax money once: either when it's earned or when it's withdrawn after being deposited or invested.

Not all flat-tax proposals are alike, however. They can differ in how high they set the rate; how big of an income tax exemption they allow for all filers based on family size; how many other tax breaks they include; and whether they eliminate payroll and estate taxes.

Related: Rand Paul-onomics: 4 things to know

Here are the few details we know about how Paul would structure his flat tax:

Single, flat tax rate: 17%

Paychecks: Individuals would pay 17% tax on wages and salaries. The net effective rate they pay would almost certainly be lower assuming they're allowed to take an exemption, which is typical under a flat tax. For example, say you gross $100 in income and get to exempt $20. You'd only pay 17% on the $80 that remains. That works out to be $13.60, or just 13.6% of your gross income.

Business income: Businesses would be subject to the same 17% rate.

Investment income: Capital gains, dividends and interest would be tax free.

Payroll tax: Low- and middle-income workers would get an exemption from the Social Security tax. How much isn't clear.

Estate and gift tax: Eliminated.

Alternative Minimum Tax (AMT): Eliminated.

It's not clear how Paul's campaign proposal for a flat tax differs from the flat-tax proposal he's made in the past two years.

Under that earlier proposal, Paul said he would preserve and increase both the personal exemption and standard deduction. He would also keep tax-free fringe benefits to employees, such as employer contributions to help pay for workers' health insurance. And all capital gains made on the sale of one's primary residence also would be tax-free.

Related: Why the middle class is still getting snared by the 'wealth tax'

A frequent criticism of the flat tax is that it may disproportionately benefit the very rich, since they have so much investment income, which would be tax-free. But given how few details there are about Paul's proposal, it's too early to say what the distributional effects would be.

What can be said is that his flat tax proposals would bring in far less revenue than the current system. Why? If he wanted to maintain the current amount of revenue, that would require a flat rate of at least 25%, said Joseph Rosenberg, a senior research associate of the Tax Policy Center.

Paul's proposal outlined Tuesday would, by the candidate's own estimate, bring in $700 billion less revenue every year than the current income tax system.

At the same time, Paul stressed his disdain for the country's debt when announcing his bid for the presidency. "Stop spending money you don't have," he said.

That goal will be much harder to reach under his flat tax plan.

Paul's campaign did not immediately respond to a request for more details about his proposal.

CNNMoney (New York) April 7, 2015: 5:05 PM ET

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Starbucks to give workers a full ride for college

Starbucks (SBUX) said Monday it will offer employees full tuition at Arizona State University's online program, giving them the chance to earn a bachelor's degree for free.

The coffee chain already offers its baristas two years of undergraduate tuition at ASU under its existing college achievement program. Now the company is extending that to four years for most of its workers.

Here are more details:

Who can apply: All full and part-time U.S. employees who do not already have a four-year degree. Starbucks says 70% of its workers do not have a bachelor's degree.

Who's not eligible: Workers at Starbucks' "licensed stores," such as those located inside grocery stores.

Can you leave Starbucks after graduating: Yes. Employees will have no obligation to remain at Starbucks after they graduate.

How does it work: Starbucks employees who qualify will receive a scholarship from ASU that covers 42% of the cost for each credit of course work. Starbucks will pay the remaining 58%, minus any other scholarships the employee receives.

How often will Starbucks reimburse you: Starbucks will reimburse tuition costs at the end of each semester, as opposed to the end of each year as it currently does. So, employees who drop out or leave the company will be responsible for paying tuition for that semester.

Related: This kid got into every single Ivy League college

More than 140,000 out of a total of 191,000 employees are eligible for the program.

Starbucks says the tuition reimbursement program is aimed at helping its staff, particularly underprivileged young workers, afford the education they need to succeed.

Currently, there are about 2,000 Starbucks workers enrolled in ASU online courses.

"For me, working at Starbucks is the opportunity for a better future," said Markelle Cullom, a three-year Starbucks employee enrolled in the program, according to the company's news release.

Tuition for ASU's online program is about $15,000 per year. The university offers 49 online bachelor's degree programs, in subjects ranging from business administration to art history.

Over the next 10 years, Starbucks plans to spend at least $250 million to help 25,000 employees graduate.

In addition to helping employees get ahead, Starbucks CEO Howard Schultz said the economy will benefit from having more educated workers in the labor force.

"By giving our partners access to four years of full tuition reimbursement, we will provide them a critical tool for lifelong opportunity," said Schultz.

Related: How this student beat the odds to get into Harvard

The company points out there are nearly six million Americans between the ages of 16 and 24 who are not working or in school. With the proper education, Starbucks says these so-called "opportunity youth" represent a "huge, untapped talent pool for American businesses."

Schultz has been outspoken on a number of controversial social issues, including same-sex marriage and race relations.

The CEO has also cultivated a reputation for being supportive of workers' rights at a time when low-wage workers have been agitating for higher pay and better benefits.

In addition to tuition reimbursement, Starbucks offers benefits including healthcare and 401(k) matching for both full and part-time workers.

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CNNMoney (New York) April 6, 2015: 6:47 PM ET

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Phone wars: Samsung earnings show signs of life

Samsung said Tuesday that it anticipates an operating profit of 5.9 trillion won ($5.4 billion) for January to March -- a 31% decline from the previous year, but the strongest number in three quarters.

First quarter sales are also expected to be lower, falling 12% to around 47 trillion won ($43.1 billion), compared to the same period last year.

While the sales figure was weaker than analysts had expected, profit topped forecasts, pushing Samsung shares trading in Seoul up by 0.7%.

The figures are a preliminary forecast, and Samsung will release an official report in the coming weeks.

Related: An iPhone for people who hate Apple

For years, Samsung has relied on its smartphone division to deliver major profits. The company had a iron grip on major markets including China, and huge margins helped turn the firm into one of the world's largest and most recognizable tech brands.

But intense competition at both the high and low ends of the smartphone market have reversed the company's fortunes. Samsung has lost ground to Apple and Xiaomi (a company that is only five years old). Analysts hold little hope for a return to dominance.

In response, Samsung is working to pare down its crowded smartphone lineup. It's also making a major move into India to capture more of the low-cost phone market. It recently released the Galaxy S6, its new flagship phone, which is expected to be a hot item in coming quarters.

To help bolster sales, Samsung is relying on growth in other parts of the company, including semiconductors and other technology. The company has been tipped, for example, to produce Apple's next-generation smartphone chip.

Samsung did not provide a profit breakdown by business in Tuesday's profit forecast.

Related: Samsung live-streamed a virtual reality birth

Related: Apple's iPad sales keep falling

CNNMoney (Hong Kong) April 6, 2015: 9:28 PM ET

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NBC News has a new boss. What's on his to-do list

Most obvious is the ongoing crisis at the network's signature newscast, the "NBC Nightly News." Brian Williams has been on the bench for two months, and staffers have rallied around his fill-in, Lester Holt.

So will Lack and NBCUniversal CEO Steve Burke decide to bring Williams back at the end of the six-month suspension period? Or will Holt stay in the chair?

Only Lack and Burke know for sure. (And even they may not know, yet.) But the Williams decision will be an early indication about what Lack plans to do to restore NBC's confidence and credibility.

On Monday Lack had a low-key start, sitting in on NBC's big morning editorial meeting and smaller staff meetings at the "Today" show and MSNBC.

Lack knows the news division well -- he was its president from 1993 to 2001. But a whole lot has changed, both inside NBC and in the wider news industry. One person close to him says that's why he's embarking on something of a "listening tour" now that he's back.

Here are five of the specific challenges Lack faces as he takes charge:

-- The fact-checking investigation of Brian Williams: it's been going on since early February. And the network has not commented on its status. What has it found? How will it influence the decision about the future of "Nightly News?" And will Lack and Burke release the findings publicly, like Rolling Stone had Columbia University do, or will it remain private?

-- Are more embarrassing details about to be divulged? New York magazine published a lengthy story about the news division's crisis in early March. And now Vanity Fair is said to be preparing another story that details what went wrong before and during the Williams debacle. The reporter is Bryan Burrough. The story may greet Lack on one of his first days in the job.

-- Getting the "Today" show back on top: NBC's morning show has been losing in the ratings to ABC's "Good Morning America" since 2012. The prior chair of NBC News, Pat Fili-Krushel, made "Today" her top priority, but the show is still #2. Will Lack institute changes in an attempt to make it #1?

-- A presidential transition?: Speaking of changes, there's been widespread speculation in TV industry circles that Deborah Turness, the NBC News president Fili-Krushel hired in 2013 may not last long with Lack in charge. Then again, Burke had a chance to announce a change back in March when he appointed Lack, but he didn't.

-- Revitalizing MSNBC: Lack was at NBC back when the company launched its cable news channel MSNBC in 1996. He is said to be close with the channel's longtime president, Phil Griffin. MSNBC's liberal programming strategy juiced its ratings for several years, but the channel is now struggling. Lack will look to make changes -- but what, specifically, will they be?

Andy Lack (right)

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CNNMoney (New York) April 6, 2015: 7:02 PM ET

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Bill Gates' 40th anniversary email: Goal was 'a computer on every desk'

To mark the anniversary, Gates reportedly sent an email to Microsoft employees Friday. The message, which made the rounds on Twitter, invokes the origin of Microsoft (MSFT, Tech30), which opened it doors on April 4, 1975.

"Early on, Paul Allen and I set the goal of a computer on every desk and in every home. It was a bold idea and a lot of people thought we were out of our minds to imagine it was possible," Gates wrote. "It is amazing to think about how far computing has come since then, and we can all be proud of the role Microsoft played in that revolution."

Related: 11 things you need to know about the new Surface

In the email, Gates also looks toward the future, supporting the leadership of Microsoft's current CEO, Satya Nadella.

"In my role as technical advisor to Satya, I get to join product reviews and am impressed by the vision and talent I see," he said, specifically pointing to products like Cortana, Skype Translator, and HoloLens.

Gates, 59, has undergone a transformation himself in that time. Now worth nearly $80 billion, he is now the world's richest man and has become a major figure in philanthropy.

He wrote to employees: "I hope you will think about what you can do to make the power of technology accessible to everyone, to connect people to each other, and make personal computing available everywhere."

Gates stepped down as chairman of Microsoft last year, after leaving his day-to-day role in 2008.

Allen has also become a noted philanthropist, making headlines last year for pledging to donate $100 million to combat Ebola.

A copy of the email that made the rounds on Twitter.

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CNNMoney (New York) April 5, 2015: 4:26 PM ET

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Read full text Rolling Stone's apology

Rolling Stone magazine not only retracted but deleted its now-discredited article from its website.

Last November, we published a story, "A Rape on Campus" [RS 1223], that centered around a University of Virginia student's horrifying account of her alleged gang rape at a campus fraternity house. Within days, commentators started to question the veracity of our narrative. Then, when The Washington Post uncovered details suggesting that the assault could not have taken place the way we described it, the truth of the story became a subject of national controversy.

As we asked ourselves how we could have gotten the story wrong, we decided the only responsible and credible thing to do was to ask someone from outside the magazine to investigate any lapses in reporting, editing and fact-checking behind the story. We reached out to Steve Coll, dean of the Columbia School of Journalism, and a Pulitzer Prize-winning reporter himself, who accepted our offer. We agreed that we would cooperate fully, that he and his team could take as much time as they needed and write whatever they wanted. They would receive no payment, and we promised to publish their report in full. (A condensed version of the report will appear in the next issue of the magazine, out April 8th.)

This report was painful reading, to me personally and to all of us at Rolling Stone. It is also, in its own way, a fascinating document -- a piece of journalism, as Coll describes it, about a failure of journalism. With its publication, we are officially retracting 'A Rape on Campus.' We are also committing ourselves to a series of recommendations about journalistic practices that are spelled out in the report. We would like to apologize to our readers and to all of those who were damaged by our story and the ensuing fallout, including members of the Phi Kappa Psi fraternity and UVA administrators and students. Sexual assault is a serious problem on college campuses, and it is important that rape victims feel comfortable stepping forward. It saddens us to think that their willingness to do so might be diminished by our failings.

Related: Author of botched article apologizes

Related: Major 'failures' found in Rolling Stone's 'A Rape on Campus'

CNNMoney (New York) April 5, 2015: 8:37 PM ET

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Major 'failures' found in Rolling Stone's 'A Rape on Campus'

The review, published Sunday night, says the failures were sweeping and "may have spread the idea that many women invent rape allegations."

At the same time the review came out, Rolling Stone officially retracted the story and said sorry. But the publisher, Jann Wenner, has decided not to fire anyone on staff. He believes the missteps were unintentional, not purposefully deceitful.

One thing is clear: All of this could have been avoided if the writer, Sabrina Rubin Erdely, had made more phone calls.

"The editors invested Rolling Stone's reputation in a single source," Columbia's 12,866-word report concludes.

The source was Jackie, a student who leveled allegations of a violent gang rape against a group of fraternity students. None of her allegations have been corroborated.

Columbia's report says "if Jackie was attacked and, if so, by whom, cannot be established definitively from the evidence available."

Charlottesville police recently announced they could find no evidence that a rape occurred. But they stressed that their findings did not mean that she hadn't been raped and that they were keeping the investigation open.

Jackie did not cooperate with either the police investigation or Columbia's. Her lawyer told Columbia that it is "in her best interest to remain silent at this time."

Related: How the Rolling Stone article became a national issue

Columbia's behind-the-scenes account is embarrassing for all involved. Rolling Stone failed several lessons from Journalism 101.

Sean Woods, the primary editor, "did not do enough" to press Erdely to "close the gaps in her reporting," the report says. And Will Dana, the magazine's top editor, "might have looked more deeply into the story drafts he read, spotted the reporting gaps and insisted that they be fixed. He did not."

Erdely, a freelance writer, issued a formal apology on Sunday night. So did Dana.

Magazine commits to Columbia's recommendations

"We are officially retracting 'A Rape on Campus,'" Dana said in an editor's letter. "We are also committing ourselves to a series of recommendations about journalistic practices that are spelled out in the report."

Those recommendations included little or no future use of pseudonyms and greater efforts to check "derogatory information."

Dana also said "we would like to apologize to our readers and to all of those who were damaged by our story and the ensuing fallout, including members of the Phi Kappa Psi fraternity and UVA administrators and students."

The fraternity is considering suing Rolling Stone; a spokesman said the frat may have more to say on Monday.

Related: Reactions at UVA: 'Rolling Stone didn't do its job'

The specter of legal action may explain why Columbia says "Erdely and the editors involved declined to answer questions about the specifics of the legal review" of the story, "citing instructions from the magazine's outside counsel."

Rolling Stone had asked Columbia University's Graduate School of Journalism in December to conduct the external review.

Columbia embraced the challenge. Its review identifies three main failures, with the "most consequential" one being that Erdely did not interview the three friends who were with Jackie the night she says she was raped.

The "Rape on Campus" story did quote them, but those quotes were based on Jackie's recollection of conversations they shared, not based on any other interviews.

"That was the reporting path, if taken, that would have almost certainly led the magazine's editors to change plans," Columbia's investigators say.

When other news organizations, including CNN, spoke to the trio, it became clear that there were many inconsistencies in Jackie's story. For instance, the friends said Jackie did not appear bloody or beaten after the alleged attack.

The friends told Columbia that they would have talked to Rolling Stone if they'd been contacted. But they weren't.

Students say writer had an agenda

"It just goes to show that she likely operated with some kind of agenda," said one of the three, Alex Stock, "because she was looking for a story and it didn't matter if it was true or not."

After the report was published on Sunday night, he said, "At first I didn't know, but now I think it's devastatingly clear she didn't do her research at all."

Another one of the three friends, Ryan Duffin, said Erdely "thought Jackie had contacted us and we had said no to an interview." Duffin told CNN he agreed with Columbia's conclusion that more thorough reporting by Erdely would have changed the outcome.

"Had she gotten in direct contact with us, it probably wouldn't have been printed, at least in that way," he said. "A lot of the article was still based in truth, but the focal point would have been different."

Erdely told Columbia that in retrospect, I wish somebody had pushed me harder" about reaching out to the three friends.

But her editor, Woods, told Columbia that he did push: "I did repeatedly ask, 'Can we reach these people? Can we?' And I was told no."

Beyond the three friends, the report faults Erdely with not sharing more information with the accused fraternity ahead of time. If she had, the frat would have probably alerted her to factual discrepancies, and that "might have led Erdely and her editors to try to verify Jackie's account more thoroughly."

The report also faults Erdely and Woods with not trying harder to track down the alleged ringleader of the gang rape. Jackie gave Erdely the silent treatment while Erdely tried, so the magazine eventually "capitulated," apparently fearing that their primary source would stop cooperating.

Fundamentally, Erdely and the editors were over-reliant on Jackie and insufficiently skeptical the whole way through.

Even Wenner, when he read a draft of the story, told Columbia that he found Jackie's case "extremely strong, powerful, provocative... I thought we had something really good there."

Wenner told The New York Times in an interview that Erdely will continue to write for Rolling Stone.

CNNMoney (New York) April 5, 2015: 9:25 PM ET

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