December 26, 2008
And another one bites,
And another one bites,
Another one bites the dust!
Quote: "Online sales and revenues continue to grow at double-digit rates. Our percentage of revenue from online leads the industry (excluding, perhaps, the national papers) and continues to grow."
Yeah, ok, from 60 cents to 78 cents a share. Now that really makes me want to invest. Heck, that and my GM stock and I might be able cobble up enough for a Timmies and a donut (or at least the hole...).
Posted by: Skip at December 26, 2008 10:39 AMWhere will all the angry faced "pundits" go, after all it is Christmas, something they don't believe in albeit, but I worry as to who will hire people that look like these self loathers, yea right, looks good on the liars.
Posted by: bartinsky at December 26, 2008 11:21 AMA newspaper executive wanting to put the best spin on his industry will always talk about the growth in online revenue, or he will blame his troubles on the current economic climate. Though technically accurate, these arguments ignore the real causes of doom in the newspaper industry. The main revenue sources for papers have always been advertising, especially for cars, real estate, and retail stores, as well as want ads and subscriptions. Newspapers had a near-monopoly in these areas until the internet came along, and online revenue will never replace that. Now they have Craig's List, Ebay, and all the rest to compete with. It is not a fair fight. Modern newspapers, despite all the layoffs, are burdened with massive overhead that their competitors mostly lack. For those who used to read the editorial page, blogs like this one are infinitely more interesting than the pc rot that newspaper editors call "opinion". The massive drops in print media stock prices make sense given their sinking prospects.
Posted by: Mike Kelley at December 26, 2008 1:12 PMnews paper execs are a perfect example of management "stuck on stupid". seen much of this when I travelled to fix production/technical problems, often their own "floor" workers knew what the causes were, but management wouldn't listen to them so I just acted as a conduit for the workers opinions to reach managers.
Posted by: GYM at December 26, 2008 3:34 PMThis will be there end.
http://www.youtube.com/watch?v=Z2bwLOagul8&feature=related
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