Ray Shaw

By David Perlmutt, The Charlotte Observer

Ray Shaw, chairman of the Charlotte-based company that owns Charlotte Business Journal and 40 other business publications across the country, died Sunday from apparent complications from a bee sting. He was 75.

Shaw was in the garage at his southeast Charlotte home Saturday when he was stung by a yellow jacket that triggered an immediate reaction and “a pretty extensive collapse,” said his son, Whit Shaw, the company's executive vice president.

He was revived and placed on a ventilator, but died early Sunday.

A veteran newsman, Shaw had a knack for the business side of news operations.

In 1989, after heading the business operations of Dow Jones & Co., owner of the Wall Street Journal, he retired and bought the American City Business Journals, which owned the Charlotte journal and 20 others.

With sons Whit and Kirk, the Shaws moved the company to Charlotte and doubled its size to 41 business journals – the country's largest chain of business newsweeklies. It also owns The Sporting News, Hemmings Motor News and NASCAR Scene. Shaw sold control of the company in 1995, but remained as chairman.

“Ray was a traditionalist in many ways: in manners, in standards and in expectations,” said Mark Ethridge, a former Observer managing editor who also worked for Shaw for more than 10 years as publisher of several business journals, including the one in Charlotte. “But he was so innovative, so willing to think outside the box and take risks.”

Ethridge and others say Shaw took care of those who worked for him. If you had a child dancing at a recital or playing baseball, he didn't care if you took off work early.

“I've never seen a man who cared more for the people who worked for him than Ray did,” said Wedge Abels, the company's information and technology director. “He knew the success of the individual translated into the success of the company.”

Truth be told, his son Whit said, “he was always in the stands, too, watching his grandchildren. Family was important to him.”

Shaw was raised in smalltown Oklahoma, in El Reno, where he wrote for the local newspaper in 9th grade. He left the University of Oklahoma to take a job in Oklahoma City with Associated Press, which sent him to Louisville, Ky., then New York.

In 1960, Shaw began a 29-year career at Dow Jones, first as a business reporter at the Wall Street Journal and then in several editorial positions, before jumping to the company's business side. In 1989, he took early retirement at 55 as Dow Jones' president and chief operating officer. During his tenure, Dow Jones revenues more than tripled to $1.7 billion.

He and wife Kay moved to Charlotte, where their children and grandchildren were living.

He didn't stay retired long, soon deciding to meet with the founder of the American City Business Journals. Shaw wanted to buy the Charlotte Business Journal and a couple of others, Whit Shaw said.

“The founder told him, ‘Why don't you buy the whole company, instead?'” Whit Shaw recalled. “He wanted to get into business with my brother and me, and things fell into place.”

In April, the Society of American Business Editors and Writers gave Ray Shaw its 19th Distinguished Achievement Award.

Whit Shaw said his father never had problems with bee stings. As many as 90 to 100 people in the United States die from allergic reactions to insect stings, according to the federal government.

Shaw had heart problems in earlier years. He was old enough to retire a second time, but put in full work weeks, as he did last week, Whit Shaw said. “That was typical Ray Shaw,” the son said.

“I'm sure he put in a full day Friday, and was doing typical Saturday morning stuff when this happened. He was a great guy.”