How The Media Did Itself In

Forbes.com ^ | May 12, 2009 | Melik Kaylan

[beckett]

From the irresistible rise and fall of real estate to Wall Street's meltdown to the tottering of print media, the epicenter of history seems always to hover around New York--or so New Yorkers always think. We haven't noticed that, of late, the narrative has changed subtly: It's all about how power is devolving away, how we've lost our credibility and perhaps our position as the national hub of finance, culture and news. Washington and therefore the country at large owns our great investment houses, while the Internet has atomized the music business and is fragmenting our print news institutions. The U.S. Senate now debates what to do about newspapers. There's even talk of a government bailout, which would surely spell the end of independent news as we know it.

[beckett]

Very smart analysis that should be appreciated here at FR. And as distasteful as it may be, follow the Frank Rich link. Rich actually wants "us," a sly way of saying the taxpayer, to "put up or shut up" about hard news gathering, which means he wants public funding for media companies.

[eyedigress]

As far as I’m concerned, a world-wide blog would have no detrimental effect as the assinine opinions of the AP or any other leaning co-op seems to want to steer opinion.

[chickadee]

"There's even talk of a government bailout, which would surely spell the end of independent news as we know it." giggle

[skinkinthegrass]

Rich actually wants "us," a sly way of saying the taxpayer, to "put up or shut up" about hard news gathering, which means he wants public funding for media companies.

*SNICKER*
What Free Press?
We been bombarded by the NYT Liberals' "vaulted political opinions"
for what 40+ (since 1969) years....it hasn't reported "the real political news" honestly for a long time....its nothing more than an DNC Political Rag.

"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators." - P. J. O'Rourke
“The problem with socialism is that you eventually, run out of other people’s money.” - Margaret Thatcher
"There are two sets of rules. One set for the rulers and another for the rest of us." —Richard Yancey, former IRS tax collector

[Cicero]

Yes, a surprisingly good analysis. Especially interesting is the point he makes that the news industry got so parochial and out of touch with most Americans that it was killing itself even BEFORE the internet came along.

[AAABEST]

From the irresistible rise and fall of real estate to Wall Street's meltdown to the tottering of print media, the epicenter of history seems always to hover around New York--or so New Yorkers always think. We haven't noticed that, of late, the narrative has changed subtly: It's all about how power is devolving away, how we've lost our credibility and perhaps our position as the national hub of finance, culture and news.

Didn't read the whole article, but thought I'd comment on this.

New York became a great city initially because of it's geographical attributes as an ideal port city. Everything revolved around shipping until the middle of the last (20th) century. In the early 20th century, it derived much of it's power because of attributes like being an industrial, cultural and financial "tributary" to the nation at large. The last part of the 20th century it mainly thrived by living off it's established roll of having Wall St. as the financial center of not only America, but the world. It was also the heavy on all forms of media - radio, print and TV.

That's all going away now. We no longer need NYC to have our goods shipped through. With the digital age, the disintegration Wall St. and the emergence of numerous global financial hubs, we no longer need NY as a financial center. With the internet, cable and modern technology, the Big Apple media domination is now a thing of the past.

Additionally, the city, and to a large degree the state, is broke. The region is run by leftists whose only solution is to suck their citizens, property owners and economic producers for everything they have by taxing and regulating their businesses, homes and property into oblivion.

New York city has nothing to offer the world any longer. It produces little of anything of REAL value (food, goods, resources etc.), and depends on the graces of the real producers to enable their uber civilization.

It won't be long before NY resembles the decrepit, dead cities of the middle ages. As a native New Yorker who is glad to be gone, I say they deserve everything they have coming and more.

[Nosterrex]

I have no sympathy for the MSM, which certainly includes the political propaganda rag called the New York Times. I find more news on the Drudge Report than I do watching cable or reading the newspaper. The only thing worse than no news is perverted news (liberal propaganda).
I have taken the task of finding for myself trustworthy sources of news. That is not as easy as it sounds. Trust is something earned, not given.
As far as New York City goes, if it can sink to the bottom of the ocean, and the world would be a better place. The Big Apple is rotten.

[GOP Poet]

bookmark

[eyedigress]

I find that I trust my instincts more than some 25 year old reporter. I’ve seen enough to know when the left or right needs to spin. It’s a record they play over and over.

[TASMANIANRED]

The news business is learning the hard way what happens when you piss your credibility away.

[blam]

"The news business is learning the hard way what happens when you piss your credibility away."

For years...and now, the bill must be paid.

[Political Junkie Too]

It would be unconstitutional to bail out newspapers. The First Amendment forbids the kind of control that went with the bailouts of the auto and banking industries.

-PJ

[TChad]

From the Forbes article, worth repeating:

Let me present those examples starkly in bullet points so they can be virally transmitted à la Colbert. They are not mere journalistic mistakes or minor oversights. They suggest huge systemic flaws. The media did not foresee:

--The collapse of the Soviet Union
--The fall of the Berlin Wall
--The 9/11 attacks
--The 2008 Wall Street meltdown

There is another collapse that the news media did not foresee--its own. Also easily enough predicted, you might think, considering the sorry record above. But predictably, it didn't foresee that either. As far as one can tell, nobody in the industry has a plausible sense of how or why or when the slow fade began. Why would they? Insularity and collegial ignorance are the wares they peddled in the thoroughfares. They believed in their product.

[2nd Bn, 11th Mar]

Thanks for your excellent analysis. I have only visited NYC once - had to see a game in Yankee Stadium - and was struck by the physical decay. You have put sound thinking to my ‘gut feel’ and listed the factors behind the decline of the city. Well done.