Wednesday, 03 December 2008

The Press

Remember this when they come asking for bailouts

Paul Oberjuerge:

The biggest problem for American newspapers is this: It isn’t that they all are unprofitable, because even now most of them are. It’s that they are not profitable enough...

People go nuts when Exxon or other oil companies report billions of dollars of profit. But that profit almost always is 10 percent or under. The profit itself is huge because the numbers are so big.

Gannett papers worked on smaller scales, but the percentage of what was taken out of each of its communities and sent off to Arlington (and, later, Reston) was staggering. Not even the oil companies expect, ever, 40 percent profit.


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Posted by: Old Grouch in The Press at 19:05:37 GMT | No Comments | Add Comment
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