Editors, and how bad ones are ruining the newspaper business
"With straight faces, the chiefs of McClatchy Co., the New York Times Co. and other major publishers told investors that things were looking up for the newspaper business because their sales would be down 'only' 20% to 25% in the fourth quarter of the year after tumbling as low as 30% in prior periods."They forgot the other catch phrase: "Key metrics are up!"
Then they adjourned to the hotel bar on their expense accounts, where they compiled their next list of reporters and copy editors to lay off, as they waited for the valets to bring 'round their company cars...
Flint Journal announced this week that they are now making a profit. Not much of a surprise since the paper is mostly ads, little news and those who work there are paid little. But then it's about profit, not quality...just read a paper to learn that. It's not a "news"paper. It's an advertiser with a few stories.
Hopefully, they will take those new profits and invest it back into the product by paying the workers there a proper wage and restoring some of the benefits that have been cut.They deserve it.
I wouldn't count on it, Jim. I think the pay and benefits have been permanently reset to that lower level.
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