This blog is mainly about the spectacular train wreck at The Sacramento Bee and its parent company, the McClatchy Company. But I also post about current events, the Iraq and Afghanistan wars, politics, anything else that grabs my attention. Take a look around this blog, hope you enjoy it.
...Often, a company files for bankruptcy seemingly out of the blue and we are all taken aback. Then the story comes out that the management was all smooth and cozy with assurances while behind the scenes they sold their stock and begged for loans. Because of the internet, and blogs like this one, the newspaper industry is revealed for all it's chicanery and mismanagement as it occurs. Who didn't see the Tribune bankruptcy coming ? Who can't see the McClatchy bust in the making ? Four days before Enron imploded it got a AAA rating. That isn't going to happen here. Forwarning is a rarity in business. Only a total moron would invest in McClatchy. Only a blind, deaf, stupid employee would stay on the sinking ship to the end.
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...Often, a company files for bankruptcy seemingly out of the blue and we are all taken aback. Then the story comes out that the management was all smooth and cozy with assurances while behind the scenes they sold their stock and begged for loans. Because of the internet, and blogs like this one, the newspaper industry is revealed for all it's chicanery and mismanagement as it occurs. Who didn't see the Tribune bankruptcy coming ? Who can't see the McClatchy bust in the making ? Four days before Enron imploded it got a AAA rating. That isn't going to happen here. Forwarning is a rarity in business. Only a total moron would invest in McClatchy. Only a blind, deaf, stupid employee would stay on the sinking ship to the end.
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