Job application for CEO of Tribune

Dear Sam Zell, I recently noticed that your company has filled for bankruptcy protection. I think I can help. Can I turn things around? No, but I think I can run things less poorly. You and your management team managed to sink Tribune into bankruptcy in less than two years. Those are skills far beyond …

This is how it’s done (executive bonus style)

“Bankrupt newspaper companies are following the lead of AIG and Lehman Brothers and rewarding executives with large bonuses. The Tribune Co. is trying to pay out $13 million in bonuses, the Journal Registers Co. is trying to pay $2 million, and Philadelphia Newspapers has already given hundreds of thousands in bonuses to its corporate officers.” …

It’s time to reinvent the newspaper industry

The Internet didn’t bring the newspaper industry down. Debt didn’t bring the newspaper industry down. Declining advertising rates didn’t bring the newspaper industry down. Complacency did. When an industry goes from so high to so slow, so fast, it’s ultimately because its leaders became complacent. They never thought that the monster profit margins would end. …