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...parent of the papers in Philadelphia declared bankruptcy, as did the Journal Register chain. The Rocky Mountain News closed, and the Seattle Post-Intelligencer, owned by Hearst, will almost certainly close or only publish online. Hearst has said it will also close the San Francisco Chronicle if it cannot make massive cuts. The most recent rumor is that the company will lay off half the editorial staff. Still, that action may not be enough to make the property profitable...
...Philadelphia Daily News. The smaller of the two papers owned by Philadelphia Newspapers LLC, which recently filed for bankruptcy. The company says it will make money this year, but with newspaper advertising still falling sharply, the city cannot support two papers, and the Daily News has a daily circulation of only about 100,000. The tabloid has a small staff, most of whom could probably stay on at Philly.com, the Web operation for both of the city dailies...
...company said it made $26 million last year, about half of what it made in 2007. The odds are that the Star Tribune will lose money this year if its ad revenue drops another 20%. There is no point for creditors to keep the paper open if it cannot generate cash. It could become an all-digital property, as supporting a daily circulation of more than 300,000 is too much of a burden. It could survive if its rival, the St. Paul Pioneer Press, folds. A grim race...
...Francisco Chronicle. Parent company Hearst has already set a deadline for shuttering the paper if it cannot make tremendous cost cuts. The Chronicle lost as much as $70 million last year. Even if the company could lower its costs, the Northern California economy is in bad shape. The online version of the paper could be the only version by the middle...
...Traveling in India and China, I cannot help but feel that some life is cheap there. The agrarian poor do not benefit from investment, and the backward castes are left behind. It is nauseating to think how much genius lies fallow between the Indus and Yellow Rivers. It is even more revolting to consider how many simply charitable and industrious citizens and workers are outside the system...