Archive for the ‘Principles’ Category

Service of Saving Money

Thursday, July 26th, 2012

savingmoney

Who doesn’t want to save money, especially these days?

My friend Clotilde, [she asked me to use this pseudonym], told me about how some in one industry are approaching this objective although she didn’t cotton to the approach. Clotilde heard the story on NPR. I read David Folkenflik’s coverage in “Fake Bylines Reveal Hidden Costs Of Local News” on wbur.org.

oldfashionednewsroomFolkenflik wrote that major newspapers in Chicago, Houston and San Francisco admitted that they published print and/or online items under fake bylines.

That’s the least of it. According to Folkenflik, “As was first disclosed by the public radio program ‘This American Life,’ the items in question were not written by reporters on the staffs of the papers at all but by employees of what is effectively a news outsourcing firm called Journatic.

“‘How do you get police blotters from 90 towns? It’s not easy. But that’s what we do,’ says Brian Timpone, a former television reporter and small-town newspaper owner who created what became Journatic six years ago.”

strapped-for-cashFolkenflik continued, “Journatic has dozens of clients, many of them strapped for cash but all hungry to serve up local news for their readers.”

Worth repeating: I’ve found that daily newspapers are turning to syndicated stories to fill their pages rather than to spend money for reporters to cover local business news.

Back toFolkenflik:  “‘It’s a short-term cost-cutting measure, and that’s all it is,’ says Tim McGuire, the former editor-in-chief of the Minneapolis Star Tribune, who now teaches media business and journalism ethics at Arizona State University’s Cronkite School of Journalism and Mass Communication. ‘It’s not a long-term solution to providing local news to people who want it.'”

Journatic has 60 employees and 200 freelancers but what most caught my friend’s attention was that the company hires 100+ people from abroad to write copy. One employee who rewrites the foreigners’  material told Folkenflik that these writers are paid “a pittance.”

Since I began to write this post, the Chicago Tribune, a Journatic client, suspended its relationship when it learned that “the company had published stories with fake bylines and that a writer there had plagiarized a story on TribLocal, the network of suburban papers and hyperlocal websites Journatic published on behalf of Tribune,” according to Julie Moos on pointer.org. The Tribune has brought in a former editor as a consultant to help “the outsourcing company on its processes and standards.”

Are cut-rate solutions like this better than nothing? Do you think such cost-cutting measures will help save newspapers? 

costcutting

Service of Buying on Principle

Monday, April 23rd, 2012

nestegg

The other week, NYC introduced its “Taxi of Tomorrow” and public advocate Bill de Blasio [Photo right, below] howled. I heard him talk about the city’s choice of foreign partner on the radio and on his website he noted that the billion dollar contract for “the exclusive right to manufacture New York’s taxis” is going to a business that operates in Iran. It’s one of a dozen car companies on de Blasio’s “Iran Watch List” that “targets businesses that operate in Iran and undermine economic sanctions.”

bill-de-blasioThe website quotes de Blasio: “You cannot do business with the people of New York City with one hand, and prop up the dangerous regime in Tehran with the other. For our billion dollars, taxpayers and taxi riders deserve a guarantee that ____ will stop selling its vehicles to Iran.” I put the space in the quote although de Blasio identifies the company on his blog.

When I’ve met investment advisors, they’ve asked me if there are any companies or industries I wouldn’t want to support. It’s a good question for many reasons. Some might forget and inadvertantly invest in–and be accused of insider trading–stock in a company the firm they work for advises. Cigarette or arms manufacturers might be on the “no” list for others.

made-in-usaThere’s a side issue to de Blasio’s point that’s worth a mention even if off-topic. I identified the car manufacturer to a friend who observed: “Why didn’t the city pick an American brand?” As I began to write I also remembered a buy American initiative where participating manufacturers hung the red, white and blue “Made in America” tag with logo on clothing, appliances and other products. Would this be unfitting today?

In wartime, many won’t buy anything made by their enemy. Some have longer memories than others and children often keep up their parents’ boycotts. Is such a consideration anti-business and therefore inappropriate in a tight economy? Or do we have no enemies?

Are there things you won’t invest in, buy, attend or support on principle, or is such thinking so yesterday?

picket-line

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