Swimming Against the Tide

Bailout madness reached a new high (or is it low?) with the Democrat delegation from Bristol and New Britain seeking to bailout the failing New Britain Herald and Bristol Press.  Their owner, the Journal Register Co., has stated that, unless a buyer is found, the papers will close by Christmas, a victim of the nation-wide advertisng decline, the slumping economy and the national trends in the print media.

If a tree falls in a forest with no one to hear it, then does it make a sound?

If that tree is then ground up to pulp and turned into a newspaper that no one reads, does it report the news?

If a state with a budget deficit spends money it doesn’t have to save these papers, does it make any sense?

Read it all:

State legislators seek to save local papers

13 replies
  1. Steve Collins
    Steve Collins says:

    Nobody is seeking a bailout for these papers. What's sought, by Republicans and Democrats alike, is for the state to help find a buyer for the papers and to let the new owner know of any existing programs that might help.
    Your readers should know that many GOP officials, including Gov. Jodi Rell and former state GOP chairman Bill Hamzy are among those seeking to lend a hand to the papers. The current Republican state chairman has called the current owner of the papers "evil," which should give you an idea that perhaps new owners would benefit partisans of both parties. This is not a political issue. It's a simple push to help newspapers that might fold without that assistance — and one that doesn't cost the taxpayers.

  2. jvicevich
    jvicevich says:

    I am not sure Steve you understand. Republican or Democrat Dave and I stand on principal, not politics. Thus it does not matter which party backs a bailout. If the solution does not involve taxpayer money then I am fine with it. If it does, then its using taxpayer money to reward bad business practice and interferes with the marketplace. Cars made buggy whips obsolete. Fashion relegated top hats to the scrap heap. If the marketplace thinks the papers are relevant, as is suggested, they will survive. Obviously these papers need a new business plan and my guess is its a long time coming.

  3. David in EH
    David in EH says:

    Steve Collins: "What’s sought, by Republicans and Democrats alike, is for the state to help find a buyer for the papers and to let the new owner know of any existing programs that might help."

    Who wants to buy into a failing industry, Steve? What can the state offer a buyer to make them take on what, given the business climate and the industry trends, is a losing proposition?

    What we have is an all-Democrat delegation looking to government to save jobs in a dying industry. Why New Britain paper and not, say, the Middletown Press?

    Steve: "The current Republican state chairman has called the current owner of the papers “evil,” which should give you an idea that perhaps new owners would benefit partisans of both parties."

    The current Republican state chairman, given the straits of the Republican party in CT, has no real room to talk in criticizing how anyone manages anything. Likewise, the overwrought hyperbole does nothing to add to his credibility. Businesses aren't charities, Steve. Failing businesses should be allowed to fail, not to be temporarily propped up through state intervention, regardless of the form that intervention may take.

    Steve: "This is not a political issue. It’s a simple push to help newspapers that might fold without that assistance — and one that doesn’t cost the taxpayers."

    It is an intrusion of government into the marketplace. It is an all-Democrat delegation going to bat for a failing business. It is a "quid" looking for a "pro quo."

  4. David in EH
    David in EH says:

    Prospects of that bail-out / "assisted sale" would seem to be becoming bleaker…

    Newspaper Ad Revenues Take Even Bigger Fall

    The news about newspapers just keeps getting worse and worse. The Newspaper Association of America reports that newspaper ad revenue fell nearly $2 billion in the third quarter — a record 18.1 percent decline.
    http://www.cnbc.com/id/28005346

  5. Gary the socialist
    Gary the socialist says:

    Yes let them fail and let the auto company go under and newspapers and tool makers and all bussinesses then local and states and finally America.But what ever we do lets make sure citi bank and there 28 percent credit cards survive.Lets let the country fail and watch all the fun. Quick buy guns and annumation because you will soon need to kill to survive. Oh to much Gary. Well did you thing 3 months ago the president of these here Untied states would say we are going under as a nation unless we get 700 billion well folks some reports say we have now spent 8 trillion and down and down we go.

  6. Gary the socialist
    Gary the socialist says:

    David in EH . Hey that is a long post how did you not get a letter from Jim saying shorting your comments?

  7. Dimsdale
    Dimsdale says:

    It seems like everywhere I look, I see government welfare. Everyone has their hands out. What happened to personal responsibility, rugged individualism, and personal pride? Did that die out in the fifties?

    Capitalism is economic Darwinism: only the strong survive. The weak fall by the wayside. Better things replace that which is weeded out. Nobody mourns the buggy whip maker.

    We are funding the survival of economic dodo birds.

  8. David in EH
    David in EH says:

    Gary: "Yes let them fail and let the auto company go under and newspapers and tool makers and all bussinesses then local and states and finally America.But what ever we do lets make sure citi bank and there 28 percent credit cards survive."

    Tsk tsk tsk… Gary, you really haven't been paying attention, so permit me to spell it out for you.

    The government should not be in the business of bailing out *any* business, period, full stop, do not pass go and sure as hell do not collect $200.

    Newspapers are going extinct for a reason and, ultimately, short of making them an adjunct / pet mouthpiece for the state, there is no saving them.

    As Dimsdale said, the business environment is adapt or die. Newspapers refuse to do the former.

  9. Gary the socialist
    Gary the socialist says:

    the business environment is adapt or die.. Oh I so agree and they are getting quite good at that as they continue to fire the left over workers that they did not fire after 9-11 and are now moving in mass to fire millions more and move more jobs and companies overseas.. So yes thats right it is- adapt or die …

  10. Gary the socialist
    Gary the socialist says:

    So remember if you work for a living your company will adapt to survive and if that involves firing you and millions more once more in a handfull of years from the last time despite spending and borrowing trillions and trillions and trillions you the workers better adapt too. Join a union fight, for yourself for a change, demand job protections, demand the same company fairness your grandparents got when the differences in owners and workers was minor.Do not be affaid when they say well thats why company are firing you because you make too much and cost to much compared to workers in south America or Asia.. Opps thats right you did vote for a better tommorow and throw out these same people who have feared you into a business submission.

  11. Gary the socialist
    Gary the socialist says:

    I just after 1 hour on the phone with unemployment reopened a claim. The normal time would be 10 minutes max on a bad day.. I asked her and she told me since July of this year it has been non stop new filings and normally there would be a spurt and die off again, but it is not stopping or slowing down in the least bit.My co worker called 3 weeks ago to inform them he was working again and it was a 28 minute hold time.Oh yes companies are adepting quite well. I walked the mall after work yeasterday and was suprised to see so many stores closed from a month a go. I recall a week ago before thankgiving that woleworths across europe went under to the shook of all the european countries.. Yes the survive of the fittest begins and if you work for a living you better thank me and those like us faught to keep the safty net there when your business adapts on you.

  12. David in EH
    David in EH says:

    Gary: "they are getting quite good at that as they continue to fire the left over workers that they did not fire after 9-11 and are now moving in mass to fire millions more and move more jobs and companies overseas."

    No one keeps a business open to lose money year after year, Gary.

    Gary: "Join a union fight, for yourself for a change, demand job protections, demand the same company fairness your grandparents got when the differences in owners and workers was minor."

    You really are ignorant of history, aren't you? "Job protections," such as the GM "jobs bank" are what have brought the corporation to the edge of destruction, what with having to pay workers for not working. As for "fairness," life never was fair, never will be fair, isn't even fair where socialist governments are in power. Get used to it.

  13. Gary the socialist
    Gary the socialist says:

    Another company learns to adapt. As told by Hartford couant columist George Gombossy… Tweeter..I am out 4500 and 6000 dollars the manager fired said. ..Employees were told stick with us and we will pay you, give you everything we promised you..Go stand in line they are now told with everybody else that got stiffed they are now told… Payments and deposits seized ,useless warranties sold..The one thing everyone has in agreement here is they are all going to turn to the goverment for redress.. The workers to wage unforcement and unemployment and job training, the company to the courts for protections the customers to consumer protection and also everyone will have to Answer to Connecticuits Attorney General for there part in possible criminal acctivites during the last several weeks .Be it owners or mangement or sellers on the floors or the companies accountants. They will all now seek out there Goverment for justice and protections and help..Adapt or die.

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