They Don’t Like Profits Anyway
January 29th, 2009 - 11:43 am
Via Melissa Clouthier comes this tasty little item from Gawker:
…today the NYT runs an op-ed from Yale’s hallowed money manager David Swensen, in which he recommends that newspapers turn themselves into non-profits with endowments (we agree, philosophically at least). “As long as newspapers remain for-profit enterprises, they will find no refuge from their financial problems.” He’s talking to you, NYT!
The NYT is already headed towards zero profits for as far as the eye can see — so why not make it official?
Once they turn themselves into offical non-profits*, then they’ll petition the government for bailouts.
*All a non-profit really means is that all of the money gets spent on things like salaries. There are a lot of non-profits where the senior executives pull in huge paychecks. There are several universities where the head honcho pulls in a million dollars a year. Being a “non-profit” doesn’t mean anything noble.
Gee, why don’t they try writing something that people want to read?
Frank, you madcap!
You see frank, they write what people are supposed to want to read. The problem is that the people are too stupid.
So it’s really our fault if you think about it.
The NYT is already headed towards zero profits for as far as the eye can see — so why not make it official?
When did the NYT’s financials improve that much?
Making the NYT (or should it be NYFT?) a non-profit would also put it on the same footing as those other bastions of leftist ideology, the universities.
Except that universities tend to be taxpayer-funded.
The surest way to win right-of-center support for a Fairness Doctrine would be to go that route. <shudder>