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Conservative Reform Network

Conservative Reform Network

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Conservative Reform Network
The Newsletter for Independent, Conservative Political Activists

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Conservative Reform Network

Time is Running Out

Tierney Rips Time

Unprofitable Operations

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Dear Lowman,

It appears that Inquirer/Daily News are not profitable on operations and may have to discontinue publication. The Journal Register Newspapers declared bankruptcy and those papers are profitable on operations and continue to operate. Those newspapers not profitable on operations will have to close. Profits pay people, salaries, wages, benefits, taxes, and interest to lenders who invested. Without profits, there is no business.

And the days when newspapers were primary sources of news and information are gone. Cable and talk radio are even challenging Big Three of broadcasting. Yahoo and Google News and aggregators like Drudge and Grassrootspa are more efficient and cleaner ways to stay connected and informed. How much worse off would we be without the Inquirer/Daily News?

You can view more posts on my blog.

Time is Running Out

Profits pay people and when Profits Run Out, People Lose Jobs and Consumer Loses Goods and Services. Inquirer/Daily News are Bankrupt. What does that mean for their employees and users of their products and services? And what does it mean for Toomey v. Specter 2010 Republican Primary?

This is major story in southeast. The Inquirer is venue for Establishment GroupThink, including Specter Candidacy. The Bulletin is the Toomey paper. Looking at the financials presented at the Bankruptcy Court, it appears that the Inquirer/Daily News is burning through $2,000,000 cash a week and that it has about $13,000,000 in bank as a few weeks ago.

For some context see: More Bad News For Philadelphia Inquirer Creditors

Inquirer's Brian Tierney Rips Time Blog

My understanding is that the Teamsters' Delivery Union is the key to viability of Daily News and Inquirer. The debt is overwhelming and we watch the drama of liberal newspapers collapsing because of finances, you know, heartless capitalism destroying the news or could it be that the newspaper made tons of money for years because it was a virtual monopoly? Some of see this as "creative destruction" that Joseph Schumpeter describes. Brian Tierney does add drama if not much else to the newspaper business.

Tierney rips Time blog He rebuts 'report' that Daily News is teetering.

"Brian Tierney, chief executive officer of Philadelphia Media Holdings, blasted Time magazine's Web site yesterday for a blog post that described the Daily News as the most endangered newspaper in America.

"I like catchy Top 10 lists as much as the next guy, but the Daily News is not going anywhere," Tierney said in a prepared statement. "It is beloved by its readers for its Philly attitude toward sports, entertainment and politics. . . . The fact that this 'report' can get such widespread coverage is a case study in why we need to preserve institutions like the Daily News, which has reporters who actually call sources and editors who actually check facts. If we hold up this type of blog 'reporting' as journalism, God save our democracy."

Unprofitable Operations?

The Inquirer/Daily News has long been liberal, even though now nominally Republican, Brian Tierney and Bruce Toll are definitely Specter RINOs and the demise of this vehicle for liberal and even Leftist message will be a relief and empowers the blogger networks.

The Debtor in Possession financing hearing is postponed to April 14th. The most recent budget shows the newspapers with negative cash flow of $3 million per week, not including payments to union health-care funds. This does not include any debt or interest payments and it seems to mean that Inquirer/Daily News are not profitable on operations. Which means the Inquirer/Daily News may go the way of some other big city newspapers. There are 14 union contracts expiring by August 31st, 2009 and the Teamsters do not seem to be inclined to make any concessions. Odd, it means rather than take pay cuts, they will have no jobs and no pay.

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