lostseal93 | Chicago Reader

Recent Comments

Re: “Pioneer Press's Angel of Death

Tyree and those "financiers" deserve all the help they can get. Help the poor rich guys make at least 20% ROI you lazy journalists.

"The Journalists need to go out of their way to look for other information to put these quotes into context and to show if they are not telling the whole story"

Just like the consummate professionals at Fox News.

"They displayed a huge sense of entitlement to all the work rules and benefits that came with their job even as the company lay a few inches from its death bed."

They actually had the gall to demand to be paid for their work. Unbelievable. Unions, eh?

Front loading debt liability to inflate and sell off portions of the holding company to private equity firms or embezzling funds like Lord Black put most newspapers in their death beds.

Then supposed financial experts can't find ways to adjust to new media in order to deliver journalistic content despite its constant production.
Which, of course, news "aggregators" and blogs take advantage of and tout as "news" while not producing anything and while news companies, again, fail to protect the work of their staff (hey, WE'RE exploiting them, why shouldn't everyone else, amirite?)

Loot the newspaper companies because they're "rivers of gold" (and rivers never dry up!) goose the stock price by faking the numbers instead of putting in actual work to drive up circulation (whether on the web or on the street) because you're going to make "cuts" and break up the company (which jacks up the debt to capital ratio, which might otherwise not have forced a given piece of company into bankruptcy) then cash out and sell the debt on to someone else.

Who then does the same thing: get a bank loan, make "cuts" (apparently business schools teach cutting production as a means to make wealth), break off pieces and sell them, goose the stock price, sell to someone else, who gets a bank loan, makes cuts, breaks it up .... ad infinitum, until the horse drops dead.

Generally speaking, 50 million+ consumers consciously decide to buy a Sunday paper. More than 400 million every week decide to purchase a daily or weekly newspaper.

The most successful consumer driven business relationship for any product or service in history, that has survived a plethora of other mediums throughout the years (radio, movie news reels, television) and still is most trusted source of news and has the highest audience brand loyalty, are set up to fail by investors and - out of their field and their depth - managers who pile debt on shrinking industry believing that this is how businesses create value, and these companies have failed because of - the journalists?

Sam Zell, who, of course, as a real estate magnate should have a genius for the news industry (!?), strangely, didn't. At least as far as producing actual news.

He did make money by flipping the paper just as he did with real estate.

He can put down only 4 percent of the purchase price of the Tribune (in 2007), borrow the rest, lay that purchase debt off on the company, then have the company file bankruptcy (in 2008) then skip away giggling like the Joker with his money.

More specifically in this case: The Sun Times News Group, run into the red by convicted felon Conrad Black by siphoning tens of millions directly and causing enormous legal debt and stockholder pessimism indirectly still manages to float up without bond or bank debt, but faces losses in operations and back taxes (again, thanks to Conrad Black).

The irony is, through the deep cost cutting and suicidal level of staff layoffs, the Sun Times won a Pulitzer Prize for local reporting.

Let me just emphasize that last bit there: LOCAL REPORTING.

Clearly newspapers in general and the sun times specifically are being run into the ground by those damn oblivious journalists.

1 like, 0 dislikes
Posted by lostseal93 on 06/26/2012 at 1:30 PM

Favorite Places

  • None.
Find places »

Saved Events

  • Nada.
Find events »

Saved Stories

  • Nope.
Find stories »

Custom Lists

  • Zip.