Monday, December 1, 2008

The Bailout Breadline Hits The Newspaper Industry

Brought to us by Michelle Makin:

So yes, it is starting. Everyone is jumping on the bailout bandwagon. Now a Connecticut Newspaper is jumping right in line with the banks, the auto industry and states across the union.

In a letter written to Commissioner Joan McDonald of the Connecticut Department of Economic and Community Development, seven state representatives please for help regarding funding for two newspapers in New Britain and Bristol. The letter states that the communities would be devastated by the job loss that closing the doors of these papers would incur. There is also a mention of the Bill of Rights and Freedom of the Press.

Strangely, or maybe really not so strangely anymore, missing from this letter is any kind of insight into why the papers have failed to stay fiscally sound or what, if any plans, the papers have to repair their operations and regain their economic feasibility.

One thing is for sure, this bailout thing has definitely become somewhat of a slippery slope. Corporate welfare has indeed become the norm.

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