8-)
Posted on 08/27/2006 4:21:30 AM PDT by abb
WHEN P. Anthony Ridder met with Wall Street analysts in June last year for a routine financial review, he was the chief executive of the nation’s second-largest newspaper company. And he could not have sounded more upbeat about the prospects for his corporate namesake, Knight Ridder.
snip
Today, many people in the newspaper industry are still scratching their heads over how and why a company with relatively high profit margins and a trophy case of 85 Pulitzer Prizes allowed itself to be wiped off the media landscape.
snip
Whether the former Knight Ridder papers will be better off, financially and journalistically, under new management remains to be seen. Some may get infusions of energy that had dissipated under Knight Ridder. But they will also continue to grapple with the Internet as they reorient themselves to a media world in which pressmen, truck drivers, reporters and editors are all rethinking how they do their jobs.
(Excerpt) Read more at nytimes.com ...
Golly, I hope the MSM types don't think we conservatives are reigning experts on mediacide. After all, it is a new science.
Gee whiz, even the medical literature has no references on therapies for distraught MSM types (chuckle).
America's little people always end up paying for the many mistakes of supposed bighearted leaders.
Very few in the industry, either on the news side or the business side, seem to believe that public ownership is worth the grief, at least in the current climate.
Supposed bighearts seem less than generous in wanting to change their side of the deal after convincing hard working Middle Americans to trade cash savings for pretty certificates.
In the spring of 1971 Fritz Beebe, a former partner in the New York law firm of Cravath, Swaine & Moore, and chairman of The Washington Post Company, approached the owner, Katharine Graham, with a dilemma. The company, Beebe said, was running out of money. Over the years the Post had been fairly generous in granting stock options to favored employees, and the cost of buying out those options had put the company in a bind.
'The elite owners/publishers of today's dinosaur fishwraps are the modern day, Norman Bates.
They are trying to keep the corpses alive by refusing to bury them.'
Mediacide is a new disease.
However, self destruction due to lunancy, drug/alcohol abuse, sexual deviancy, arrogance, stupidity and other self inflicted self destruction have been around forever.
"Politics aside, given MSM's apparent proclivity for living a sequestered life in denial we really ought to warn our family, friends, and associates to divest themselves of MSM stock before MSM's supposed bighearts start Enronning all the little people when America's fishwrap industry unwinds with brutal bankruptcies."
Absolutely. Also, the good people need to know how to check their mutual funds to see what they are invested in.
Then if they have a pension fund, they need to yell and scream if the fund is invested in any dinosaur fish wraps.
I think that we have hit on something when we compare the Dinosaur Fish Wraps with Norman Bates.
Excellent advice.
These fishwraps have not lost all of the stockholders money, yet.
Just most of their money.
They have only lost 40 to 50% of the stockholders's investment/money in the last two years. That is probably nothing when the next two years are compared.
8-)
Amen. MSM's apparent intransigent obsession with hurting Middle America at all cost seems to preclude any prudent stewardship of assets Middle America entrusted to MSM decades ago.
"Amen. MSM's apparent intransigent obsession with hurting Middle America at all cost seems to preclude any prudent stewardship of assets Middle America entrusted to MSM decades ago."
As per their 5 years of BS re the worse economy since Hoover.
Peering through a warped MSM death throes prism it's only too easy for MSM to project their own economic death onto everyone else.
It's time for someone to experiment. Buy one of these dead-on-the-vine newspapers and then report the news - stick to the who, what, when, where, and why of the report - save the editorials for the editorial page.
Anyone who buys any of the mediots warped view of life, may be beyond help.
LOL, I figured everyone was getting tired of it by now!
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