So I'm gone a week and like 5 newspapers go under...

Where to begin? 

I take a week off and I can't even keep up with the collapse of the dead tree media. 

Gannett cut its dividend by 90%, and then Moody's cut Gannett's bond rating to junk.  GCI Stock continued its collapse and is now trading at $3.57 a share--down another 5% today alone.  It's been nearly a year since I pointed out that the stock was collapsing.  I called that post "Never Trust Anyone Under 30."  Since then the stock has fallen nearly 90%.

Real Clear Politics has a good summary of recent industry news that includes a list of the Top 10 Newspapers in trouble. 

The Seattle Post-Intelligencer, Rocky Mountain News and Tucson Citizen all might not see April Fools Day. Then yesterday, the San Francisco Chronicle hinted that it could be going away soon as well. Even the Washington Post, one of the most stable papers, reported a 77% drop in earnings in the fourth quarter of 2008. In todays gloomy newspaper landscape, no one is safe.

But who will make the Buggy whips?

Meanwhile, the legacy journalists continue their lament that without newspapers, there will no longer be actual news.

To produce news, you need professionals who understand the standards needed to research, report and write on what happened. If newspapers die, reliable information dries up.

Whatever.

Finally, the folks at "the Arizona Guardian" no longer have press credentials because they, like you know, no longer work at a newspaper.  That means that they don't enjoy special access to the secure areas of the House and Senate and it also means that they can't rent space in the press room.  

Intent on turning the Press Room into a Woolworth's counter, they have decided to squat there despite not having a lease and being told to leave. 

Dude, who do you guys think is the Senate President now?  Fun loving, music playing, Softball champion Ken Bennett has moved on.  Crying on the Senate floor, press fawning Randall Gnant has moved to Arkansas.  Black Heart Bob Burns runs the Senate now, so when those really big guys from DPS show up, better have your stuff in a box that's easy to carry and remember the phrase that pays.

Comments

[Scott Bordow]

Greg, my name is Scott Bordow and I'm the sports columnist for the East Valley Tribune. We've never met, but I often take a look at your site.
I have to say, I'm a bit disappointed at the tone you take when discussing the potential demise of the newspaper industry. You almost sound as if you're gleeful.
In January, 142 of my colleages were laid off. I have two friends at the Rocky Mountain News who no longer have jobs, including one who is battling cancer.
I will not disagree with you that our industry is in serious trouble. I live it every day. But, I would hope that in the future you at least acknowledge the pain that is being felt and the hardships that are being endured.
Respectfully,

Scott Bordow

[Craig]

Scott,

Although you are too modest, you are also a damn good sports writer.

[ron]

Greg, you wrote, "Black Heart Bob Burns"

Seems only yesterday you didn't like my characterization about Mr. Burns. Hmmm, I don't think I called him, 'black heart'.

[Dewey]

Scott: I too have really enjoyed reading your columns through the years. I too regret the human suffering that goes with the closing of these newspapers.

Don't know if you saw this post, but it's a good synopsis of why Greg and many others aren't in mourning over the fall of the industry in general.

http://coaching.typepad.com/espresso_pundit/2008/02/why-the-glee.html

[Tom]

Scott,

As many regular readers know, Greg actually wrote an entire post explaining why he is "gleeful" about the demise of the newspaper industry. Now, you cover sports, so perhaps you don't get the opportunity, as much as some other reporters do, to engage in the types of behaviors that Greg cites in the post. I think you would do well to read Greg's post explaining his glee and then maybe you will have the answer to your question about Greg's gleefulness and understand the why it's hard for many of us to dredge up much sympathy for the downturn and maybe demise of the newspaper industry.

[BobH]

Interersting item here on the newspaper biz:

http://adage.com/mediaworks/article?article_id=134795

It makes the point that newspapers still make money. The average profit during the first three quarters of last year was 10.8% -- no doubt that's down now, but it does not signify a moribund industry.

The problem is that profits used to be 20%+ (bear that in mind the next time you read an editorial denouncing excessive profits), and many companies have debt structures based on 20% profits. They can't pay off their loans at 10.8%.

Which means a lot of pain is still to come while the industry restructures, but it also means that there will still be a place for newspapers -- it will just be a smaller, humbler place.

[AJ]

Leave it to a liberal loser like Jay to toss out the race card.

[Marizco]

"Whatever" doesn't cut it, Greg.

With some exception, your postings are simply your interpretation of an event that's been reported on by one paper or another.

I'm looking at your Web site now and out of nine stories on your main page, only two were originally reported by you. One was about tax dollars used for a school issues protest at the Capitol. The other was about Snuggies.

Now don't get me wrong, that doesn't make Espresso Pundit any less valuable. You're a good watchdog of the Phoenix-based media.

But "whatever" doesn't begin to explain how this Web site will continue to exist without raw, free information.

[Michael Woodman]

I'm glad someone finally took Mr. Patterson to the task for his awful choice of words. Whatever. Newspapers have set a standard of research and writing, factual presentation, and yes, efforts at fairness and balance. They've repeatedly achieved landmarks in investigative journalism. They've done so for over a century, and made it available to the public for very little cost or absolutely free. No one else out there-television, the internet, blogs, or radio, is going to be able to step up and meet this standard. If newspapers disappear, it's a big loss to an institution that's vital to our democracy.

"Whatever" is a completely juvenile response. It's what you expect to hear when you tell a teenager to do their homework, drive safely, and don't go to parties where there's drugs and alcohol. Teenagers are supremely confident that they are always immune from the consequences of anything bad. Whatever, dude. Gimme the car keys.

The reckless driving that results from this juvenile attitude is on display on EspressoPundit.com, furiously and persistently, day after day. Newspapers are going down!! Hurray hurray, they're too liberal and they deserve what they get! The sports reporters and business reporters and other employees who have nothing to do with any sort of political content? Oh well too bad. They'll just lose their jobs. Cheering for failure is the new theme of the Republican party, isn't it? We don't care about real people getting hurt, our political beliefs are more important.

Mr. Patterson's prolonged rant on what he perceives as liberal bias in newspapers is a perfect example of why we might actually need newspapers. As a liberal I could write a far longer, more intricately detailed and much more realistic rant about the conservative bias of the mainstream media. I might have to mention the Starr Report, the Downing Street Memo, weapons of mass destruction, absolute lies told by the White House about the role of Libby and Rove in outing Valerie Plame, torture, spying on citizens in their own country, secret prisons, "I'd like to know who the leak was myself," aluminum tubes, the mushroom cloud smoking gun, signing statements, I think I'd better stop.

I'm still not rooting for newspapers to perish. I think Ford and GM are awful, too, and I'm tempted to cheer for their demise. I've been an adult too long. Too many bad consequences for innocent people, too many bad consequences for our country. Cheering for failure just doesn't seem to be a liberal value. It's too much like cheering when the other team's star quarterback gets hurt. Juvenile.

Mr. Patterson is so blinded by his own extremist right wing bias that he can't see beyond it. He's actually suggested that newspapers are failing BECAUSE they're too liberal. People are "voting with their feet." When real people voted with real ballots, Obama won 374 electoral votes, Janet won every county in the state of Arizona, and the Democrats gained 14 seats in the Senate and 50 in the House in just two years. But newspapers are too liberal for most people and they're voting with their feet. Whatever, dude.

By the way, the current stock price of any company in any business is generally a poor indicator of the long term value of that company, and an even poorer indicator of the viability of an industry as a whole. I bought stock in Apple long ago. Back when the company was reeling from the onslaught of cheap mass produced PC's and the dominance of Microsoft. Back when the chairman of Dell said they should just shut down Apple and "give the stockholders their money back." They were a good company in a good business. Quality products. Attention to detail, devotion to making their products user friendly. And a huge corporate climate of innovation. Imagine that, innovation, they actually valued it and encouraged it, unlike their competitors. Their falling stock prices didn't bother me at all. It made their stock cheaper so I could buy more. Want a share at the price I paid for it in 1995? Want an iPhone? How about an iPod?

Don't count newspapers out. Don't root for failure. Don't say "whatever" when you're over 17.

[Peeves]

Investigative journalism? HAHAHAHA The Arizona Republic is so depressing these days because it seems to get thinner and thinner and apparently is written entirely by college interns because the staff is on furlough (or updating their resumes). Seriously, do you really think there's any investigative journalism going on when most reporters these days are trying to find a life raft off the sinking ship? It's also amusing that no one seems to mention the pressmen, the ad sales reps, the designers and, yes, the janitors who have to clean up after the noble reporters and editors, who also are seeing their incomes decimated. Us Luddites will continue to enjoy reading a newspaper, but get real. It is just sad.

[Michael Woodman]

I got a chance to see the Newseum in Washington DC while I was there for the inauguration. The Datsun 210 in which Arizona Republic reporter Don Bolles was murdered by a car bomb is on display there, in an exhibit devoted to slain journalists.

Yes, investigative journalism. There was and still is such a thing. Mostly practiced by newspapers. The newspaper is getting thinner, idiot, because there's less advertising.

When there's a museum in our nation's capital devoted to bloggers killed in the line of duty, I'll give up on newspapers.

What is it, Peeves, that you find "amusing" about no one mentioning the pressmen and ad reps and the janitors? One of my points is that Mr. Patterson is cheering while real people are getting hurt. Mr. Bordow above points out the gleeful tone and complete lack of respect for the hardships that are being inflicted on people who have absolutely nothing to do with the political content of the newspapers that employ them. I'm not sure why you're amused, another than to take a sarcastic jab at reporters and editors. It's not funny, Peeves.

Cheering for failure while people are getting hurt. Bad idea. Almost as bad as Bobby Jindal the other night.

[br_gal]

What do you mean the Arizona Guardian reporters don't have press credentials?
They don't work for a newspaper but they do work for an online publication.
And, yes, they do have press passes.
What you wrote on your blog is factually wrong.

[Peeves]

Whatever ...

[Barney Miller]

I see loyal Obambot CiC is back as "Michael Woodman." Who will it be next week? Mr. Kotter? Vinnie Barbarino? Juan Epstein? Some other bad 70s television character?

[Name:]

Scott, no one takes pleasure in seeing people losing things they love and are good at. But if you were still retailing music on eight-tracks, you can still love the music, as well all do. But it's the delivery that's going to get you down. And in both cases today's delivery is somehow cleaner, sharper, more diverse. And then it's harsher, filled with garbage, cheaper, and takes more time to find.

But please don't use your cancer-stricken friend who happens to be a jobless reporter as bait to get people to support your industry.