Word: knightly
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...been a big week for Death Row Records owner MARION ("SUGE") KNIGHT, one of the most controversial impresarios in an industry not known for blandness. First, he was arrested for failing to take a drug test that's part of his probation requirements on a 1992 assault charge. (He has been scarce since Tupac Shakur was shot in a car he was driving.) Then the Los Angeles Times disclosed that the prosecutor overseeing his case, Lawrence Longo, had been removed, after the D.A.'s office learned that Knight had given Longo's daughter a record deal and had rented...
...long ago) parents fondly told their sons and daughters that they could grow up to be President. Nowadays the option is still there, but Mom and Dad would generally prefer that Ashley shoot for dental school instead. In two recent polls, one conducted for CNN and the other for Knight-Ridder Newspapers, only about a third of parents said they would steer their kids toward the White House. The parental attitude is, it's a dirty (and thankless) job and someone else should...
...trying to save money in the newsrooms, but they are undercutting the quality of their news reports. It's taking the life right out of them." The San Francisco Examiner, for instance, still runs foreign news, but without a single overseas correspondent on staff. Under instructions from parent company Knight-Ridder to boost its margins from 16% to 18%, the Miami Herald will cut 300 jobs by the end of this year. Once considered a competitor of the New York Times and the Washington Post and famed for winning seven Pulitzers in the 1980s alone, the Herald has responded...
...problem, though, is that for many newspaper owners--and their stockholders--12.5% margins are no longer good enough. Tony Ridder, CEO of Knight-Ridder's 17-paper empire, explains that he must answer to many masters. "I've got a number of constituencies: the customers, the communities in which we do business, and I've got the shareholders." And some shareholders remember the boom-boom 1980s, when newspaper profit margins routinely approached 20%. Cold reality hit along with the recession in the early 1990s: retailing, then retail advertising, then newspapers dependent on such advertising suffered, and profits fell. Ridder insists...
...many newsrooms, however, morale is hitting an all-time low--though journalists are famously cranky. For example, at the Philadelphia Inquirer, which is under pressure from parent company Knight-Ridder to boost profit margins from 8% to 12% this year and 15% the next, staff members cite with dismay the collapse of the time-honored wall between "church" and "state"--the editorial side and the business side--which is meant to ensure journalistic integrity. The head of circulation now sits in on story meetings, while reporters and editors must take "business literacy" classes to learn how the publishing side works...