Monday, October 17, 2005

Keeping The Powder Dry....

Undoubtedly you've noticed the posting has been light recently. That's mostly because I've been extremely busy with work and travel, and partially because of the fairly flat news landscape over the past week or so. It seems the media is trying to fill this void with what's essentially speculation about the Plame investigation. Instead of spilling ink on warmed-over iterations of what we already know, I'd rather wait to see what Fitzgerald actually does. We're almost there, right? Regarding the New York Times piece, nothing I read began to repair the tattered perception of that newspaper I've had for several years now. I read the Times religiously for about twenty-five years. After Jayson Blair, I cut way back. After Judy's exploits, I stopped buying the print version completely and continued to read it on the internet only rarely. When they went to a pay version of the op/ed page, I laughed. The only reporter there I would pay to read is Gretchen Morgenson, who's world-class. The rest of the paper---via Blair and Judy and everything else---has shown utter contempt for its readers. There was a time when an institution like the Times could get away with that. No longer.

And I'm not alone, evidently. Seen the stock price of the Times recently? Here's a five year chart. Compare it to this five year chart of WaPo. Every picture tells a story, don't it?

88 Comments:

Anonymous Anonymous said...

I've always thought it was really too bad that they didn't sell the Sunday magazine alone. That I have loved for years.
(not enough to buy the paper though) ...
I'm not impressed by "a name"; slanted news I can get for free.

10/17/2005 10:44 PM  
Blogger uptowngbv said...

Eh, I kinda like Krugman. But I certainly wouldn't subscribe to their service. It seems like I've heard fewer references to Times op/ed pieces (in the MSM and blogs) since they started charging.

10/17/2005 10:49 PM  
Anonymous Doug said...

I've got my worries about the Times, too. On the other hand, I note that the people leading the charge against it -- particularly during the whole J.Blair business -- are not interested in a fair and disinterested press at all. They want movement conservative mouthpieces and nothing more. That's un-American.

10/18/2005 4:48 AM  
Anonymous Natasha said...

I have to agree with the most recent comment. A conservative propoganda machine is just as bad as one from the liberals. What the united states needs is some unbiased journalism. You know that long lost art of reporting the news...

10/18/2005 7:39 AM  
Blogger owenz said...

I have mixed feelings about the Times. While I agree with all of TCR's criticisms, the Times is the last of a dying breed...the family-owned media company. If and when the Times is "bailed out" by a mega-corporation, journalism as we know it will be changed forever.

What concerns me most about the Times is not just the disasterous editorial decisions, either. It's the impact of those decisions coupled with the fact that newspapers themselves are becoming a relic of the past. If the Times hopes to stay profitable, it must evolve and evolve quickly to adjust to the digital age.

10/18/2005 10:16 AM  
Anonymous Anonymous said...

ugh, the washington post is just as bad. The stock prices may be due to the WaPo company's other holdings such as the Kaplan Prep Schools, which is apparently doing very well. The newspaper has been losing subscribers and their attempts to attract younger readers are pathetic - dumbing down the paper and publishing this new lame daily called The Express that they give away free at the Metro stations. A joke, just really sad.

Hard to believe these are the papers that once had the courage to publish the Pentagon Papers and the Watergate stories.

10/18/2005 11:32 AM  
Blogger Daniel said...

Thank you very much for this post. Agree completely that the media should sit back and see what Mr. Fitzgerald actually does.

I also agree with your editorial assessment of the New York Times and found the stock chart comparisons amusing.

I'm not a financial professional like you are, but is it far to compare WaPo stock with NYT? As I understand it the company that owns the Washington Post also owns Newsweek, a chunk of MSNBC, and some other media properties, while the NYT is pretty much NYT. Is that right? If so, WaPo is more diversified than NYT and so the company's prospects are not strictly tied to the operation of the WaPo newspaper.

Please keep up the great work. You're an antidote to partisan shouting on both sides of the aisle!

10/18/2005 12:17 PM  
Anonymous Anonymous said...

Sounds like Miller's reporting on the UN oil for food and the anthrax investigation was not so hot either - at least according to Laura Rozen (via Kevin Drum post).

http://www.washingtonmonthly.com/archives/individual/2005_10/007360.php

I do wonder how the NTTimes can come back from the abyss. Seems like they were more interested in pampering the star than journalism. There seems to be some pathology at work that needs to be irradiated.

The WaPo a bit better but not by much. My issue with the Post is the editorial department though I am frequently dismayed about the softpedaling with article headlines and placement.

10/18/2005 12:30 PM  
Anonymous Anonymous said...

The decline of the NYTimes is sad indeed.

Why this has occurred?

In this era we hear about NEWS, Editorial & Op-Ed needing to be "Fair & Balanced".



Reporting should be:
Factual
In-depth
Relevant

and
should be supplemented with:
long-term tracking to follow developments related to the story and to post corrections as more details are available.

It seems to be a SYMPTOM of the NYTimes problems that they appointed a Public Editor. This is like placing a small BandAid on a large, unclean wound.

What is Management doing at the NYTimes?



One worry:
As part of the rise of the Neocons one of the early activities was the infiltration of the Republican/conservative foundations and publications. By controlling the flow of funds certain ideas were "developed" while others were left alone. See some of the work by Samuel Francis to back this up. SF is deceased to don't expect any recent writings.



Look what happened to the Editorial side of the Wall Street Journal. While the business side is top-notch the editorial side publishes some real trash.

Perhaps the NYTimes has been sabotaged.

10/18/2005 2:45 PM  
Anonymous Anonymous said...

Josh Marshall has been wondering about how Miller got the oil for food story after her disasterous WMD reporting.

http://www.talkingpointsmemo.com/archives/week_2005_10_16.php#006768

10/18/2005 2:57 PM  
Blogger 277fia said...

We so need need more newspapers. To rely on two publicly traded newspapers for so much of what we know about our government is not good for any of us. The stock market is fixed - someone or some organization doesn't like what the NYT publishes, the NYT stock takes a beating. Blackmail is the best way to describe it.

Don't get me wrong - I'm not saying that the NYT is doing a good job. I am sick to death of Ms. Miller and what she did or didn't do. I didn't even know who she was before the war and now she takes up valuable space in the paper.

I don't always notice the byline on stories. I'll always read a Charles Biaggi article because he knows the city inside and out. I'll go out of my way to read stories by either of the Leslies because past ones were informative.

I'm on the lookout for Paul Vitello's work at the NYT because he wrote a column for Newsday for years. He really belongs at Newsday, imo, because he writes like he is your neighbor which, in a way, he is. He was as indignant about the Roslyn school district scandal as I would have been if I lived in Roslyn.

Over at Newsday, Susan Harrigan and Knut Royce have been around a long time and I know I can rely on their work. The best part for me about Newsday is that if I wanted to talk to almost any one of their reporters, I could stop by or call Newsday.

On Long Island, like every place else, you can do the "I know someone who knows someone..." routine. That's why I am happy that Cablevision is a local company. I know where the Dolans live and I know people that work there.

Even if he was a little nutty about dogs on NYC sidewalks towards the end, I miss reading Jimmy Breslin. My sister and I got a big lift from his anti-war columns and he gave us something to talk about.

I went back not too long ago and read some old Murray Kempton columns and they were just as much fun to read as they were the first time.

I know something is wrong if I can, all by myself, figure out that Charlie Gargano is involved with a lot of really, really crooked business and nothing happens to him.

Gargano is just one guy and look what I know. Gargano was on the board of directors of Eagle Building Technologies, a phony penny stock company with ties to organized crime, when Eagle announced in May 2001 that it had invested in an Italian company that manufactures high tech bombproof doors.

How did Meyer Berman find his way to Eagle in February 2001 and bring along his phony company, Biosterile that just happened to manufacture cargo scanning machines?

Why did Rep. Gary Ackerman invest in Eagle in June 2001?

Anthony M.D'Amato, Eagle's president, got sent to prison for nine years yet apparently, D'Amato was working in a vacuum because no else except James "Cary" Parish and George Gazda was arrested.

Eagle's press releases left an audit trail. Russia, China, Mexico etc.

After the Eagle scandal was exposed, Meyer Berman became the chairman. One of the new directors was Howard Ash. Ash was a director of Edulink. Former CT governor, John Rowland, made $26k trading Edulink, another phony penny stock company.

Another director was Bruce Mauldin. I think Mauldin was in Army intelligence in the '80s but Seymour Hersh would know more about him than me. Mauldin shows up on the advisory board of another penny stock company in Texas with ties to China.

I don't live in DC and frankly, I could care less who spilled the beans on Valerie Plame and how many more bullshit stories am I going to have read about Harriet Mieirs?

Find out where Abramoff's money from Sun Cruz and the Indian tribes went and the whole government will come down.

I'm not an investigative reporter but I know that Gus Boulis's controller hates Abramoff. How do I know? She worked for Boulis for years. I was in Miami when Boulis got murdered and the story got my attention.

The employees at Sun Cruz were watching what was going on. I know from my own experience that employees don't like people who jeopardize their jobs so I know the Sun Cruz staff watched the bosses.

This whole Indian gambling business has been a sorry excuse for money laundering. Once any of those politicans in DC took money under the table from the gambling business, they were on the hook for blackmail.

Sam Gejdenson, former Democratic congressman from CT, came in as a director of Eagle with Meyer Berman. The CT gambling business is in Gejdenson's former district.

The Niagara Falls Reporter's editor, Mike Hudson, knows a lot about Foxwoods and the setup with a Malaysian gambling family. He wanted to know because gambling was coming to his neighborhood. The Malaysian gambling family holds a very lucrative mortgage on the Senecas' Niagara Falls casino.

The Klewin construction company of CT built both casinos. Klewin was a family business when sometime in the late '90s, Michael D'Amato took over. Klewin does a lot of business with NYS Dormitory Authority. As a practical matter, you pay bribes to get that kind of business but I'm guessing it is now centralized through Gargano.

A couple of years ago, Klewin showed up in Palm Beach County and started building schools there. I don't know about anybody else but I would prefer to give my tax dollars to local contractors.

John Rowland favored the Tommasso construction company. Was he set up to take a fall by someone who favored Klewin? Look at subsequent state business for a start.

I don't know how to link some of these names. For example, I don't know if Anthony M. D'Amato is related Michael D'Amato.

I suspected that something was wrong with my local FBI office because awhile back, they said the Lucchese family was out of business on Long Island. In the January 17, 2005 issue of NY magazine, Jerry Capeci wrote that Neil Migliore's business is in full swing.

So who do I complain to?

C.R., Again, I hope you don't mind me rattling on but I have been looking at this stuff since late 2001 and it still bothers me.

10/18/2005 3:19 PM  
Blogger copy editor said...

Maybe that is why the NYT wants to charge for Op-Ed access online. :-/

BUT, that just annoys me and now I am a WaPo Op Ed reader. (Plus NYT lost Safire.) WaPo also has those marvelous little Technorati links in their stories, and that keeps me interested in the page throughout the day.

10/18/2005 3:23 PM  
Anonymous howard said...

actually, the sports page remains first-class, and a good cross-section of the arts critics are top notch too.

but basically, yes, i think we can conclude that pinch sulzberger isn't qualified for his job.

10/18/2005 6:26 PM  
Anonymous Anonymous said...

I never forgave the NYTimes for buying a controlling interest in the Boston Globe (my local paper) & promptly gutting it. Every trumpeted "improvement" by the new editorial board was blatantly intended to wean readers away from the Globe & get us to read the NYT in its place. Of course, that's one way to increase readership... IF it worked... but from what I can see the marketing didn't develop any NYT readers and it DID cause a lot of Bostonians to stop buying the Globe, thereby killing the business advantage for the Evil Empire. I'm afraid the MBAs have overlooked the fact that 99% of newspaper buyers are interested only in the Three Cs: Coupons (advertising), Comics, and Columnists (including local reporters doing local news & "human interest" stories). The NYT has always always considered itself Too Good for supermarket sale flyers or funny pages, and I think they're finding out that not enough people care about its op-ed stars, good as they might be, to pay the NYT's premium charges. I still buy the Globe on Sundays, for the advertising supplements, but the rest of the week I read the Washington Post online & pay a subscription service for my favorite comics. Punch & Bill Keller have succeeded in curing my 40-year addiction to newsprint, which I really don't think was their original goal. -- Anne Laurie

10/19/2005 3:44 AM  
Blogger Roy said...

I get the NYT free at my school so I read it everday. While it is not without its flaws (serious flaws) they do cover the international news better than the local paper of tv news. Of course the Net is still the best place for news. The discovery-times tv channel really good though.

10/19/2005 4:59 PM  
Anonymous Anonymous said...

I like your musings, but your stock chart example isn't a good one.

WAPO has been driven solely by Kaplan as pointed out by other commentators.

If you want to do a comparison to a newspaper company that editorially got it right about the war, etc. --- that's Knight Ridder. Unfortunately, their stock price action looks similar.

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