Herald's parent company stock has taken a nose-dive according to a small article buried in the Herald today. The McClatchy Co. revenues declined 14.4% over January 2007. They fault the real estate downturn which caused ad sales to drop 29.3% in Florida.
The bad news: They are cutting costs. This will make the struggling paper even worse. What is a reader to do, it is the only game in town. If declining readership doesn't kill the paper, the declining ads, based partly on readership, will. Catch 22? The real estate lobby must control the paper's content to a certain degree. It is economics 101. Maybe that is why the paper walks on eggshells when producing Real Estate articles and why most readers were surprised at the suddenness of the downturn -- the warning signs weren't being reported aggressively.
(I moved my post below Gimleteye's piece above: It is just too good! Read it, Gimleteye has written a fine analysis that dovetails to the specifics of this post and the one following.)
2 comments:
It seems that the ones paying the revenues are also the ones that should be reported about. It is the Fox Guarding the Hen House.
What is with the arrests of those working on the Seijas recall campaign? Her lawyers must have been pounding on the investigation.
Not much news just puff on many local levels so value goes down in news business when its more business than news.
Surfside is an example. Superficial reporting, no in de;pth analysis and no accountability. What happened to the fourth branch?
Town hall press releases tell something less than the real story about what is going on there. Surfside Voters have a choice. Surfside matters to places way beyond it Contact or see, for more information, You can contact Randi MacBride: Randi4Surfside@aol.com See the web site at JoeGraubart.com A choice is what its all about but staying home is not avoiding a choice it IS a choice by letting things get worse and worse. Know & Vote
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