Comments on: Tribune Co. files for Chapter 11 and other woes http://dailycartoonist.com/index.php/2008/12/09/tribune-co-files-for-chapter-11-and-other-woes/ The source for industry news for the professional cartoonist Sun, 12 Feb 2012 00:54:39 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Ted Dawson http://dailycartoonist.com/index.php/2008/12/09/tribune-co-files-for-chapter-11-and-other-woes/#comment-78253 Ted Dawson Tue, 09 Dec 2008 16:02:12 +0000 http://dailycartoonist.com/index.php/2008/12/09/tribune-co-files-for-chapter-11-and-other-woes/#comment-78253 Just as consumers have had to face fiscal responsibility for the past few years, now corporations are as well. The media corporations like these have been using credit to acheive their goals of establishing local media monopolies, after getting Congress to approve JOAs and crossover media ownership (TV, radio, newspapers). Their levels of debt are staggering. The abuse of credit has not only contributed to this financial crisis but also to the media crisis. Low-interest loans for the Connecticut newspapers! The Journal Register, already in forebearance, is already unable to pay its debt, which is already ten times their revenues! To me, the recession is actually growing pains. The next year will be all about companies, and even governments, that have been surviving on credit. Unless the government ends up running all the corporations that they continue to bail out, we'll be weeding out irresponsible corporations and getting back to more localized and personally run businesses. That's what we need to see, especially when it concerns the Media and Free Speech. All of this is about personal responsibility, and the nature of a large corporation proves this to be an absent quality. We desperately need more personal responsiblity in this country on all levels. Just as consumers have had to face fiscal responsibility for the past few years, now corporations are as well. The media corporations like these have been using credit to acheive their goals of establishing local media monopolies, after getting Congress to approve JOAs and crossover media ownership (TV, radio, newspapers). Their levels of debt are staggering. The abuse of credit has not only contributed to this financial crisis but also to the media crisis.

Low-interest loans for the Connecticut newspapers! The Journal Register, already in forebearance, is already unable to pay its debt, which is already ten times their revenues!

To me, the recession is actually growing pains. The next year will be all about companies, and even governments, that have been surviving on credit. Unless the government ends up running all the corporations that they continue to bail out, we’ll be weeding out irresponsible corporations and getting back to more localized and personally run businesses. That’s what we need to see, especially when it concerns the Media and Free Speech.

All of this is about personal responsibility, and the nature of a large corporation proves this to be an absent quality. We desperately need more personal responsiblity in this country on all levels.

]]> By: Howard Tayler http://dailycartoonist.com/index.php/2008/12/09/tribune-co-files-for-chapter-11-and-other-woes/#comment-78251 Howard Tayler Tue, 09 Dec 2008 15:40:36 +0000 http://dailycartoonist.com/index.php/2008/12/09/tribune-co-files-for-chapter-11-and-other-woes/#comment-78251 <i>Rep. Frank Nicastro understating the importance of media said, “Quite frankly and honestly, if it’s the newspaper today, what’s to say it won’t be the TV stations tomorrow?”</i> Well, I suppose any economic analyst worth his salt could look at the two industries and compare the numbers. And that might be better than this kind of fear-mongering from elected officials. Rep. Frank Nicastro understating the importance of media said, “Quite frankly and honestly, if it’s the newspaper today, what’s to say it won’t be the TV stations tomorrow?”

Well, I suppose any economic analyst worth his salt could look at the two industries and compare the numbers. And that might be better than this kind of fear-mongering from elected officials.

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