"A few weeks ago, over dinner with half a dozen entrepreneurs and venture capitalists, the question came up again. The table, which included a few people already worth more than $100 million, went quiet. One man in his late 30s twirled the stem of his wine glass as he thought. Then he tipped back his head, downed his pinot noir and said, 'one billion,' his glass landing back on the table with a thud. 'That’s it. That’s my number. One billion dollars.' The others nodded." —How much money would you take to [...]
If I worked at New York magazine, I'd spend the day cross-referencing people hair-rending on Twitter about the magazine going biweekly with the subscriber list. Just saying.
Looking at the MPA data for New York magazine gives one small side of the story. Sampling Q1 and Q3 data since 2006, actual reported print revenue doesn't change that radically, at least since the Great Downturn or whatever we're calling it.
But total ad pages per quarter does change.
What's interesting is that the magazine, like, you know, lots of magazines, makes lots of money. According to the Times, going biweekly "will yield about $3.5 million in savings." [...]
It's the post-primary, pre-convention part of the election cycle, where a poll "can find" that Mitt Romney and Barack Obama are in a DEAD HEAT for the presidency of the United States! Flap your hands in a panic, Mittens could be the president! Everyone panic! Just kidding, Romney will lose quite handily, let's just flash-forward 119 days.
The IRS did an analysis of the 2009 tax year, and some interesting and not surprising things happened!
• More than 3% of households that had job income in 2007 had none in 2009.
• America's average household income fell 13.7% from 2007 to 2009.
• Two million fewer people filed tax returns from 2007 to 2009.
Goodbye! America doesn't need you.
"Magazine Shutdowns Slow Drastically" go the headlines today-or also "Magazines Are Starting To Come Back To Life." That's from a new survey that says only 87 magazines shut down in the first half of 2010, while there were a whopping 279 magazine shutdowns in the first half of 2009. (No reporter revealed this survey's sample size.) For some more history: 525 magazines closed down in all of 2008; 591 in 2007. Now, the Magazine Publishers of America, in their own just-released comparison of the first half of 2010 to 2009, only tracks 226 magazines-the big ones. And one of them is Cookie and one is [...]
I started this decade out as a 15-year-old kid, and now I'm a 25-year-old adult. I've gained 20 pounds and about 30 gray hairs. I've grown one bra size and two dress sizes. I've gained an unquantifiable amount of self-esteem.
I've lived in five cities, in twelve houses, and had 24 roommates. I've had nine paying jobs and three non-paying ones. I've written for free for seven publications, and been paid to write for two. I've had three cars, four bikes, and six pairs of running shoes. I've had seven cell phones, four iPods, five blogs, and eight email addresses. I've been in three car accidents, gotten one speeding ticket, [...]
Why is the unemployment rate staying relatively level (actually, a little bit "down") at 6.7%? That's because there is a shrinking pool of people who consider themselves workers. Almost 100 million Americans aren't in the workforce.
People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels http://t.co/pgrHr9k1SR
— zerohedge (@zerohedge) January 10, 2014
And who's in the labor force but not working? Well, one way to slice that is by education level. (You can also slice it by race, which provides equally disturbing numbers.)
Unemployment by education: No HS diploma (9.8%), high school graduates (7.1%), some college (6.1%), college or more [...]
Left: Dallas Cowboys Quarterback Tony Romo, age 17. Right: Irish Sweeper in Fall River Iron Works, age 17, circa 1900.
Dallas Cowboys Arlington, TX Attendance: 87047 Emigrants from Ireland in one year after the most recent recession
Washington Redskins Landover, MD Attendance: 83172 Number of people employed by the coal mining industry in the United States
New York Giants East Rutherford, NJ Attendance: 79019 Number of Americans the government was unable to recover and identify immediately after WWII
New York Jets East Rutherford, NJ Attendance: 78596 Number of people who applied for a one-way trip to Mars [...]
"Since employment peaked in September 2008, local government has lost 550,000 jobs."
—Hooray, America got its smaller government! Of those jobs, 345,000 disappeared in a year. But let's not even get into these August employment numbers, just released. Why bother? It's a long-term trend, the not-working, and that's the way they ("they"!) want it.
It should perhaps however be noted that the August report does some serious correction on the June and July reports: "The change in total nonfarm payroll employment for June was revised from +46,000 to +20,000, and the change for July was revised from +117,000 to +85,000." So yeah, strike those 58,000 jobs [...]
About.com, the content farm owned by the Times and one of the worst things on the Internet, looks like it's finally in trouble, due in large part to Google taking action against the Garbagenet. (These outfits depend on search results.) And also: advertisers realizing there are better ways to spend money than advertising against an empty void. In the second quarter of this year, About.com shed staff and now their real operating costs are $13.1 million; their operating profit is down 24% from last year, to $11.6 million. (That's less than $4 million a month.) To be fair, this is still a "real business": The About Group had [...]
The "real" unemployment number fell from 16.7% to 16.1% in January. The "actual" unemployment number went down to just 9%—even though there weren't a lot of jobs created in the month. The current number of unemployed people is now 13.9 million people. (Just FYI, Canada created 69,000 jobs in January!) People are still making sense of these job numbers. One thing that helps make sense of them is that the actual number of people in the labor force is now smaller, by half a million people. So yes! Unemployment is down! Fewer people consider themselves workers.
One person who went through some recent jobs data says that: "the average length of unemployment is always higher for the older cohort (45+) regardless of the level of education; generally the more education an individual has, the higher the average length of unemployment." But, but, but what about all those factories who were telling the Times they just can't find anyone to hire?
Well, we beat the forecast for October: we were only supposed to lose 175,000 jobs last month, and we did 190,000! Which really isn't very much. 190,000 people is the entire population of Little Rock, Arkansas (which is the 118th largest city in the United States!), or Mobile, Alabama. 190,000 is just slightly more than the entire population of Salt Lake City. Hmm. If every person that was laid off in October were a penny, it would be a stack of pennies almost a thousand feet high-as high as the tallest building in California, the US Bank Tower in Los Angeles. If everyone laid off in October were a [...]
— Jon Bruner (@JonBruner) December 18, 2013
"In comparative terms, almost nobody on Twitter is somebody: the median Twitter account has a single follower. Among the much smaller subset of accounts that have posted in the last 30 days, the median account has just 61 followers. If you’ve got a thousand followers, you’re at the 96th percentile of active Twitter users."
"For the full year of 2012, digital advertising revenues increased 0.2 percent to $214.8 million from $214.5 million in 2011. Excluding the additional week [in 2012], estimated digital advertising revenues decreased 1.7 percent in the fourth quarter and 1.9 percent for the full year of 2012." —The New York Times Company released its 2012 results this morning, if you like that kind of thing. Lots of fun stuff, like the $4.5 million cost for a "retirement and consulting agreement" for departed CEO Janet Robinson. How do you like your buyouts now, staffers?
"The prison population of England and Wales has hit a new record high of 86,608 people," thanks to several hundred young rioters being held in the system. Yup: 86,000 people are in prison out of a population of 53,390,300. Yeah… so that's .0016% of England and Wales. (The U.S. has about 2,300,000 people in prison, out of 307,006,550 people—almost five times as many, by population.)
Guess what? This means England has surpassed its tragic colony, old Prisoncrime Island, in rates of imprisonment—with all of 22 million people, Australia has only like 30,000 people in prison. (Though they're trying desperately to up their rates!)
The June unemployment numbers came out this morning and everyone is like, woof, this is horrible. The Department of Labor can't even make it look all that good in the press release: "The number of persons unemployed for less than 5 weeks increased by 412,000 in June. The number of long-term unemployed (those jobless for 27 weeks and over) was essentially unchanged over the month, at 6.3 million, and accounted for 44.4 percent of the unemployed." Right. The "underemployment" rate is now 16.2 percent, essentially as high as it was a year ago. 14.1 million are officially unemployed, a rate of 9.2%. And the average unemployment period is [...]
As things are currently set up, people with iPads who want to buy a magazine on their shiny device have to go searching for it. There's no magazine rack, or what have you. Still, I'm not sure you can put that sunny a face on the figures for sales of magazines on the iPad, as reported by Ad Age. Wired at least started extremely strong, at 100,000. Now they do about 30,000 an issue. Still pretty good! People is doing 10,000 an issue (and that includes free digital issues to print subscribers). Vanity Fair does about 9000 an issue. Other magazines are doing even fewer sales; many are [...]
And also in further data-crunching, this analysis of the New Yorker's fiction section. "Just 10 writers account for 82 (or 23%) of the 358 stories to appear over the last seven years. Just 18 writers account for 124 (or 35%) of the stories." That is almost okay, since there were 12 Alice Munro stories published in the last six years. (Which serves to assist in getting their lady-boy ratio up to 36.6%.)