With pink slips looming gives me a perfect opportunity to expand this concept that I came up with far too little dedication.
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The financial cuts and layoffs at the Sacramento Bee have been nothing new: two rounds of buyouts during 2008 led to a 20% decrease in the workforce and looking at the 5 year stock trend for The McClatchy Company, parent company of the Bee, resembles a double black diamond slope I rode in Breckenridge a couple of years back. Closing the year 2004 with a share value of about 70 dollars, you might want to forgo you Coinstar visit and partake in the 2-shares-for-a-dollar deal going on now at your local stock market. While some may voice their ignorant shock over such a predicament, this is extremely predictable given the means by which such industries receive their funding. The business of advertising is just as fascinating as its consumption. The print and television industries have become almost entirely reliant on advertising to fund their way of life: about 50% of magazine revenue, 80% of newspaper, and 100% of television come from advertising. Increasing costs for materials, labor, and resources has lead companies to a mild epiphany, whether it is just the monetary figures or they finally understand that advertising is a waste of capital. Cutting their advertising budgets is a very PR friendly way of pleasing the stockholders without contributing to unemployment. But now the lonely newspaper company, a fixture in local lore, is pale at the sight of their financial life support coming to a flat line. Reliance on a source of capital with very little proven tangible effects has placed them on their knees, with no bailout hymns to sing.
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