The Discerning Texan
-- Edmund Burke
Wednesday, July 02, 2008
Hard (LA) Times; but not for Limbaugh
The Los Angeles Times fades to black. From the WSJ.com:Amazing isn't it; some people actually want to be told the truth.. The laws of supply and demand apply to the marketplace of information too, and when it comes to Big Media, the truth is an increasingly scarce resource. And, like any scarce resource, the market will value most the people who can best bring the scarce resource to where it is needed.Expect even deeper cuts ahead, with perhaps as many as 300 fewer editorial employees when the slashing is done. Very few people read anything but the Sports and calender sections. Once you drive a paper so far to the left that its news is no longer trusted, you can't rebuild the brand, period.
Tribune Co.'s largest newspaper, the Los Angeles Times, plans to cut about 15% of its news staff and news pages as part of the newly private media company's mandate to slash costs.
The Los Angeles Times, the country's fourth-largest paper by weekday circulation, plans to eliminate about 150 positions from its editorial staff, according to a memo released Wednesday by the paper's editor, Russ Stanton. The newsroom currently has about 840 people, a spokeswoman said. Mr. Stanton also said the number of pages published each week will be reduced by 15%.
It isn't exactly apples and oranges, but it is relevant to this topic to point out that today Rush Limbaugh signed a contract to continue his radio show through 2016 for a reported $400 million. What isn't being reported is that it is Clear Channel who was the biggest winner today. When there is any scarcity, enterprises and individuals who work to fill that need are rewarded by the marketplace. That is basic economics. Today Clear Channel signed Limbaugh to fill a need.
In an electoral atmosphere where the Left's big money power brokers ensure that pro-Obama media bias becomes de-facto "policy" for the News networks and large American dailies, the truth is the most highly-valued commodity, because it is increasingly scarce in these arenas. This is the reason Clear Channel signed Rush Limbaugh. And today the LA Times is finding out for themselves just how valuable the truth is.
Will the Leftist power brokers succeed in using mass media to place a Marxist ideologue into power? Possibly. But they are losing money and influence hand over fist in the attempt. MSNBC is taking on water like there is no tomorrow. FOX is gaining market share; it already far surpasses CNN domestically.. The money goes to where the information is.
Not the propoganda--the truth.
The Soviets also tried to suppress the will of the marketplace (which is the economic expression of the will of the people). They held power for almost an entire century. But gradually the lie collapesed onto itself. Marxism is the lie. And to a free people, the truth is the most valuable asset of all. To those content to live under tyranny, truth can become extremely rare.
Isn't that why they tore down the Berlin Wall?