Media Reporter Stockholm Syndrome: 'Newsweek' Edition
They cut their rate base in half in under two years. They lost 30% of their ad pages this year. They are on their third set of layoffs in two years. Its corporate division has lost almost $30 million this year so far. How to characterize this… oh, hmm, how about a Times article headlined "Glimmers of Progress at a Leaner Newsweek"! Sure, why not?
While a–what was it? $1.2 billion?–who the heck's counting?!?–loss at GM for the 3rd quarter is "promising."
The good news is, while we're still bleeding to death, we'll have more time to get into it.
Meanwhile, Time is busy explaining why everyone's just so damn optimistic these days. I had not noticed this particular mood much myself.
http://www.time.com/time/magazine/article/0,9171,1938719,00.html?xid=rss-topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+time%2Ftopstories+%28TIME%3A+Top+Stories%29, I suppose because we can