The latest from Cheese Station C | Bleader

Tuesday, August 11, 2009

The latest from Cheese Station C

Posted By on 08.11.09 at 11:53 AM

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In case you missed it: on Friday night, Michael Miner posted an update on the Reader's bankruptcy situation, the latest twist being a nascent deferred-compensation-for-equity swap.

Ben Eason, as quoted in the Washington Post in a short oral history of the Washington City Paper, remains confident with two weeks to go until the auction:

"Anybody who is going to introduce changes to the City Paper is going to take heat. That's Number One. Number Two is, anybody that is operating a largely print business going through the transformation is going to take the same heat. I basically say it's 'Who Moved My Cheese?'* across the industry. People either want to empathize, or they think you are doing something wrong. The position we are in now is not ideal, but I am comfortable with what we have gotten ourselves into. "

*A harrowing, Kafkaesque fable about the bottomless mystery of Fate and the ambivalence of the universe

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