from e-mail --
Greed is Destroying TV and Newspapers
You would think that $200-million a year profit for one newspaper (The Los Angeles Times) would satisfy Wall Street's lust for profit.
No, each year the corporate barons want more and more, and they are perfectly willing to kill the $200-million a year golden goose to get it.
To meet constantly increasing profit goals the Wall Street-corporate toadies must continue to cut expenses -- primarily by firing employees. So while profits increase the "product" suffers and subscriptions continue to decline.
It's the same story for the other media conglomerate newspapers -- the source of 85% of this nation's hard news.
This is also happening to TV in the United States -- especially TV news. Staffs are being cut, facilities are being closed, and at the same time there are more and more commercials per hour and (surprise!) frustrated viewers are tuning away in ever greater numbers.
The emphasis on greater and greater profits is like a parasite killing the host.
I wonder: Is what they teach in business school these days limited to adding up quarterly bottom line figures?
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