Tuesday, March 24, 2009
Monday, March 23, 2009
Postcard from Sacramento
SACRAMENTO
A few miles from the state Capitol, on a pasture of land bounded by a railroad track and the tranquil American River, a large cluster of homeless men and women has settled in what's been dubbed "Tent City." With perhaps hundreds of makeshift tents, no running water or bathrooms, and trash strewed everywhere, the encampment conjures up images of Third World living in America.
La Kafetera Presenta:
What’s Happening To Newspapers?
• The Journal Register Co., owner of the New Haven Register in Connecticut and 19 other newspapers, filed for bankruptcy.
• The Hearst Co., owner of the San Francisco Chronicle, announced that if it doesn’t find a buyer, it will shut down that city’s only daily newspaper.
• The Philadelphia Newspapers Co., owner of both Philadelphia papers, the Inquirer and the Daily News, filed for bankruptcy.
• The Washington Post Co., whose newspaper of the same name, and its stable-mate, Newsweek magazine, announced that its fourth quarter profit plunged 77%. (This is the company whose largest outside stockholder is the fabled Warren Buffet.)
• Gannett Co., owner of our Palladium-Item and Indianapolis Star among about 90 other daily newspapers, slashed its quarterly dividend by 90% to save $325-million a year! And this came after a previous announcement (as some of your friends may have told you) all Gannett employees were given a one-week “holiday” without pay to save cash. (Strangely, I don’t remember reading anything about any of this in either the P-I or Star.)
All in one week!
-Read more on: "thegraphiconline."