Steve Green writes, “They Don’t Like Profits Anyway“:
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?
Well, that’s a relief.