A Bloomberg Businessweek magazine cover published Feb. 25 about the housing rebound in the United States â" featuring cartoonish minorities holding fistfuls of money â" has drawn intense criticism from readers and media critics, some of whom have described the cover as racist.

âOur cover illustration last week got strong reactions, which we regret,â Josh Tyrangiel, the magazineâs editor, said in a statement on Thursday. âOur intention was not to incite or offend. If we had to do it over again weâd do it differently.â
But his statement came too late to head off pointed criticism online. Some posts on Twitter called it a ânon-apology,â and by Thursday afternon, a handful of people had signed an online petition urging the company to pull the cover. (A new issue, however, is already on newsstands.)
Matthew Yglesias, a business correspondent at Slate, prompted much of the online commentary after questioning the cover in a post on the Web site Thursday morning. While praising the publication for being âa genuinely great magazine that does an amazing job of making business and economics news accessible and interesting,â he said Bloomberg Businessweek âought to be ashamedâ for its cover choice.
Ryan Chittum, at the Columbia Journalism Review, said the cover was âclearly a mistakeâ! because of âits cast of black and Hispanic caricatures with exaggerated features reminiscent of early 20th-century race cartoons.â What made it even more offensive, Mr. Chittum wrote, âis the fact that race has been a key backdrop to the subprime crisis.â
In a statement, Andres Guzman, the illustrator who created the cover, said, âThe assignment was an illustration about housing. I simply drew the family like that because those are the kind of families I know. I am Latino and grew up around plenty of mixed families.â According to Mr. Guzmanâs Tumblr page, he was born in Lima, Peru and lives in Minneapolis.
In an interview, Hugo Balta, the president of the National Association of Hispanic Journalists, said the cover âcontinues to speak to the insensitivity of how minorities, and in this case Latinos, are being portrayed in media.â
âI think it oversimplifies an issue that obviously has tremendous financial impact to he country, and it also puts a face to a community that is too often vulnerable to those types of attacks,â Mr. Balta said. âIf we go with the old saying that a picture is worth a thousands words, the message in this picture is that itâs the minorityâs fault.â
Mr. Balta said he planned to contact Bloomberg Businessweek to discuss the issue.
Gregory Lee Jr., the president of the National Association of Black Journalists, said in a statement, âThe image that was published by Bloomberg Businessweek is just a microcosm of a bigger problem in the magazine industry â" the lack of diversity.â
âThe last presidential election demonstrated that our nationâs demographics are changing rapidly and it is essential that media companies should make the appropriate changes to welcome diversity in their newsrooms, specifically in managerial positions,â Mr. Lee said.