The Death of the Newspaper
By Barry Ritholtz - September 26th, 2009, 4:00PM
Eighty percent of success is showing up. —Woody Allen
Macro Notes
Bernanke says…Peter Boockvar
Staying with the belief that the Fed can still do more, Bernanke said they are prepared for more accommodation if needed but he finally publicly acknowledges that "central bankers alone cannot solve the world's economic problems." He gives color on what left the Fed can do if circumstances warrant but acknowledges drawbacks to each perceived benefit. On the economy, "although private final demand, output, and employment have indeed been growing for more than a year, the pace of that growth recently appears somewhat less vigorous than we expected...Much of the unexpected slowing is attributable to the household sector, where consumer...
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September 26th, 2009 at 5:49 pm
For fun, here’s a post highlighting what turned out to be some highly accurate predictions made in 1993, one of which involved the demise of the news media (as Michael Crichton foresaw it!)
September 26th, 2009 at 6:24 pm
Yet the WSJ, The Minneapolis Star, The Washington Post and the Chicago Sun all did relatively well in a down advertising market. Maybe those management teams should be farmed out to other papers in order to teach the secrets of success. Similar to what winning football teams do after the super bowl
September 26th, 2009 at 8:55 pm
For some reason, all these databases have missed the EW Scripps spinout of Scripps Media, which included HGTV, Food Network, and their best cable assets. So the data is not entirely correct.
September 26th, 2009 at 8:56 pm
For that matter, they spelled “Gannett” wrong.
September 26th, 2009 at 9:12 pm
Secrets of success? They need to respect all of their readers, not just the ones who share reporters’ and editors’ liberal views. Yet, the people most likely to continue to subscribe are the older, formerly loyal readers – a large majority of which is conservative or moderate.
My own personal experience covering the Klamath Falls water cutoff of water for No Calif and So Oregon farmers in the Klamath River Basin during the spring and summer of 2001 for a small news service showed me that the AP was refusing to report on the contrary information the farmers were begging them to read and understand and write about.
The AP also went to the same well, source, for every story on the crisis to ‘get the side of the fishermen’ – one San Francisco lawyer purporting to represent commercial fishermen. The actual commercial fishermen told the Klamath farmers he didn’t speak for them.
The AP stories always led with the government position that fish were in danger, proceeded to quote environmentalists and that bogus ‘fisherman,’ and at the end of the story had a one-sentence quote from a farmer who was losing his livelihood due to the artificial drought caused when the government shut off the irrigation canals that the farmers had paid for themselves.
I doubt that any Klamath farmers get The Oregonian or the SFChronicle any more.
The magnitude of that tragedy still haunts me.
September 27th, 2009 at 3:36 pm
JoWriter,
see: “…The CIA effort to recruit American news organizations and journalists to become spies and disseminators of propaganda, was headed up by Frank Wisner, Allen Dulles, Richard Helms, and Philip Graham (publisher of The Washington Post). Wisner had taken Graham under his wing to direct the program code-named Operation Mockingbird and both have presumably committed suicide.
Media assets will eventually include ABC, NBC, CBS, Time, Newsweek, Associated Press, United Press International (UPI), Reuters, Hearst Newspapers, Scripps-Howard, Copley News Service, etc. and 400 journalists, who have secretly carried out assignments according to documents on file at CIA headquarters, from intelligence-gathering to serving as go-betweens. The CIA had infiltrated the nation’s businesses, media, and universities…”
http://community.freespeech.org/cia_media_project_operation_mockingbird_is_government_propaganda
http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=operation+mockingbird
September 29th, 2009 at 6:01 am
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