In space no one can hear Posted May 2, 2009 Share Posted May 2, 2009 LINKY Growing up in a family that worked at The Courier Express for a few generations- I already miss what once was. Excerpts: For most newspapers in the United States, we would not buy them at any price," Buffett said. "They have the possibility of nearly unending losses. ... I do not see anything on the horizon that sees that erosion coming to an end." Buffett said Berkshire would hold on to the Buffalo News, a daily newspaper in the New York state city of the same name, if only because Berkshire buys businesses for the long term and does not sell simply because the companies hit a rough patch. He did not rule out having to squeeze out excess costs, including possible job cuts, or eventually shuttering the paper if it goes too deeply into the red. "On an economic basis you should sell this business. I said I agree 100 percent but I am not going to do it," he said. "The union has been cooperative in having an economic model that will at least give us a little bit of money." Link to comment Share on other sites More sharing options...
BuffaloBill Posted May 4, 2009 Share Posted May 4, 2009 It is good of him not to just dump the News but his comments suggest that it is only an issue of time before it will likely die on the vine. The loss of local press and newspapers does not bode well for the citizens of this country. Free press has little impact when it is hardly free (controled by major corporations) and not understanding of the local / regional circumstances. Link to comment Share on other sites More sharing options...
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