Newscoma considers journalism's gilded age of greed, comparing Memphis and Nashville:
Here is what eats at my soul this week about the [Memphis] Commercial Appeal. The [Memphis] Flyer believes they aren’t losing as much money as you might think:
Apparently not everybody at The Commercial Appeal has been forced to cinch up their belts. Last March, after the newspaper’s largest round of layoffs, CA publisher Joe Pepe purchased a second home on Excitement Drive in Celebration, Florida. Documents (available here) show that Pepe made a down payment of $100,000, and took out a $279,500 mortgage through Countrywide Bank. The three bedroom, 2.5 bath home was built in 2005 and originally listed for $424,900. It’s Pepe’s second Florida property. He purchased an undeveloped parcel of land in Osceola County in 2005 for $305,000.
What would Edward R. Murrow say? I think he’d be pretty damned ticked off right now that the news he loved, and fought for,which has been compromised by greed, corporate indulgence and the pursuit of the all-mighty dollar over substance. And good for the Flyer and other media outlets for calling BS.