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...contracting a debilitating secondary illness," researchers at the Project for Excellence in Journalism write about the news media's long-overdue embrace of the Internet in 2008, just as a global recession began wreaking havoc on the industry's biggest advertisers. "This is the sixth edition of our annual report," the authors begin. "It is also the bleakest." From magazines and newspapers to local television and radio to the ethnic and alternative presses, it seems that all media took a hit last year, and some aren't bouncing back. The carnage is far from over. "In trying to reinvent...
...including the idea of micro-payments - one-time, monthly or yearly fees for online access, a model that "was already tried and rejected by users early on" - and nonprofit financing, which is doomed to fail because there simply isn't enough funding there to become a sustainable solution. The report's authors instead suggest the news industry should adopt a "cable model" that draws upon a monthly fee built into Internet access, or the creation of "online retail malls" within news sites so publications can draw revenue from "point-of-purchase fees." (See the top ten television feuds...
...Real estate price war!" the headline in a local paper blared. "Prices continue to move lower." It's a "great time to be a buyer," another story reads. If there was something plaintive about those stories, it is because buyers seem to be in hibernation these days. In a report published earlier this month, the country's central bank said the "number of residents willing to buy a home in the next three months is at a record...
...long-running boom in the construction of new apartments and houses across urban China ended abruptly last year and is now unwinding. Deflation is evident in Beijing and Shanghai in particular, where real estate developers and brokers report prices will likely be down 15% to 20% this year. Prices in the once booming city of Shenzhen are down more than 18% from year-ago levels. Nationwide, according to a recent forecast by economists at the Chinese Academy of Social Sciences, housing prices in China may decline 10% to 15% this year, as the overall economy struggles amidst the global financial...
...ramped up its online program within the last year: "They're coming back for Child No. 2 and now saying, rather than work with that slightly more expensive, one-on-one tutor, they would like to try the online situation now," says CEO Matthew Pietrafetta. (See TIME's special report on paying for college...