Thursday, February 3, 2011
The buzzards are circling
New York Times Co. reports 26% drop in 4Q profit. Actually, the Times is in much better shape than most. I was raised reading newspapers, and the inexorable decline is depressing. I get a good portion of my news online, but I think the newspapers will continue to have difficulty turning the online news into revenue. I have always been entertained by various newspaper names (The Blade, Post-Intelligencer, Bee), much like the multitude of strange trade union ( Bakery, Confectionery, Tobacco Workers and Grain Millers International Union) and religious order (Congregation of Sisters, Servants of the Immaculate Heart of Mary) names. None of these groups is thriving. But, the Courier-Journal, the Post-Dispatch, the Journal-Constitution and others are a reminder of the last era of failing newspapers.
Labels:
general economy,
Rust Belt
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