Shoot raw, let the photo editor and his minions deal with black and white conversion.
That said, here's an excerpt from the (American) National Press Photographers Association's Code of Ethics.
Incidentally, Kevin Clarke, Pulitzer winning journo who took this photo , and later commited suicide. His suicide note said "The pain of life overrides the joy to the point that joy does not exist."
/Wouldn't mind being a photojournalist.