Hinterland Diary

The terrible consequences of the short-sighted management of daily newspapers . . .

Through this kind of management, they've told their employees they don't care about them, they've told their readers they don't care about them, and they've sold out their duty to serve as the Fourth Estate for a quick buck. But even more than that, these CEOs have justified it all by claiming it's their fiduciary duty to stockholders that's made them do it. I don't agree. To defend themselves under the guise of protecting the stockholders makes no sense. If people bought in at $50 per share and the changed economic realities mean that shares are worth only $40 apiece, squeezing out short-term profits to artificially raise the stock price only means that people are going to get screwed if they don't sell their stock in time. Is it a CEO's responsibility to help his current boss (read: shareholders) swindle his future boss (read: shareholders) by stripping all the future value out of a company? I don't think so, and I think what's happened is morally reprehensible.

From "Greedy Vultures: Why corporate management of daily newspapers spells disaster for the news business, community debate and our way of government" by Jeff vonKaenel, published in the Sacramento News & Review in December 2006.

August 23, 2007 2:22 PM | | Comments (0)


Leave a comment


About this Entry

This page contains a single entry by FlyOver published on August 23, 2007 2:22 PM.

Generational differences was the previous entry in this blog.

Hinterland Diary is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

AJ Ads

AJ Blogs

AJBlogCentral | rss

About Last Night
Terry Teachout on the arts in New York City
Artful Manager
Andrew Taylor on the business of arts & culture
blog riley
rock culture approximately
critical difference
Laura Collins-Hughes on arts, culture and coverage
Richard Kessler on arts education
Douglas McLennan's blog
Dog Days
Dalouge Smith advocates for the Arts
Art from the American Outback
Life's a Pitch
For immediate release: the arts are marketable
Mind the Gap
No genre is the new genre
Performance Monkey
David Jays on theatre and dance
Plain English
Paul Levy measures the Angles
Real Clear Arts
Judith H. Dobrzynski on Culture
Rockwell Matters
John Rockwell on the arts
Straight Up |
Jan Herman - arts, media & culture with 'tude

Foot in Mouth
Apollinaire Scherr talks about dance
Seeing Things
Tobi Tobias on dance et al...

Jazz Beyond Jazz
Howard Mandel's freelance Urban Improvisation
Focus on New Orleans. Jazz and Other Sounds
Doug Ramsey on Jazz and other matters...

Out There
Jeff Weinstein's Cultural Mixology
Serious Popcorn
Martha Bayles on Film...

classical music
Creative Destruction
Fresh ideas on building arts communities
The Future of Classical Music?
Greg Sandow performs a book-in-progress
On the Record
Exploring Orchestras w/ Henry Fogel
Harvey Sachs on music, and various digressions
Bruce Brubaker on all things Piano
Kyle Gann on music after the fact
Greg Sandow on the future of Classical Music
Slipped Disc
Norman Lebrecht on Shifting Sound Worlds

Jerome Weeks on Books
Quick Study
Scott McLemee on books, ideas & trash-culture ephemera

Drama Queen
Wendy Rosenfield: covering drama, onstage and off
lies like truth
Chloe Veltman on how culture will save the world

Aesthetic Grounds
Public Art, Public Space
Another Bouncing Ball
Regina Hackett takes her Art To Go
John Perreault's art diary
Lee Rosenbaum's Cultural Commentary
Modern Art Notes
Tyler Green's modern & contemporary art blog
Creative Commons License
This weblog is licensed under a Creative Commons License.