We're hearing from inside Bloomberg News that the newswire is chopping up the Bloomberg Way, the cultish journalism guide assembled by tyrannical editor Matthew Winkler. Winkler believed in the manifesto so deeply he used it to raise his teenaged sons, and its rigid prescriptions became gospel. But what was once a rulebook has now reportedly been demoted to a set of guidelines. Said to be out is the proscription against the word "but" along with the 850-word cap on stories. Pressure to produce "Greet The Week" features (whatever those are) has abated. The changes, long anticipated, should come as no shock, but Matthews' closest underlings may be getting nervous over the continuing accumulation of power by Winkler's internal rival Norman Pearlstine. Said a tipster:

There's a whole coterie of career Bloomberg editors — known colloquially as pod people — who have got to be shitting their pants. Pearlstine is in charge if this is true (and official confirmation is still coming).

If anyone can shed some light on this pants-shitting — or just the rule changes — we'd be thrilled! tips@gawker.com

UPDATE: Bloomberg PR tells us the following:

  • There is no change in the guideline warning of the perils of "but, despite and however."
  • There have been "many" stories over 850 words for years.
  • "'The Bloomberg Way' is a style guide for news reporters. It is still our style guide.
  • "Greet the Week" were "special enterprise stories that were generally done on Mondays. Bloomberg News is now doing more features and enterprise stories every day."