Thursday, January 15, 2009

Happy New Year -- The Media Economy Is Still Tanking

It's snowing outside, the doctor says my heart is fine (after a minor scare) and the news in the media world remains as awful as imaginable. Here are some headlines -- not, by the way, for you to get depressed over, but continue, unfortunately, to reinforce the idea that some believe that if only we look at the positive side of all things, all things will be ok. The glass, I assert, is only one-quarter full, and that's scary. For example:

New York Mag to Writers: You’re Keeping Your Jobs, Getting a Pay Cut

The Fall of the Almost-Rich (Gawker's version of the above-referenced story)

Gannett to Furlough Workers for Week
(Here are the first three graphs:

The Gannett Company, the nation’s largest newspaper publisher, said on Wednesday that it would force thousands of its employees to take a week off without pay in an effort to avoid layoffs.

Gannett, which owns 85 daily newspapers across the United States including its flagship USA Today, said it could not say exactly how many people would be required to take time off, or how much money the company would save. But it said it would require unpaid leave for most of its 31,000 employees in this country.

Also on Wednesday, USA Today notified its staff of a one-year pay freeze for all employees.

American Express Publishing Lays Off 33
Job Cuts Part of Parent Company's Effort to Reduce Head Count 10%

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