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General Motors announced 30,000 more job cuts. The company is under pressure from Kirk Kirkorian, who according to the Washington Post, owns 9.9% of the company's shares. This reminds me of another old economy company facing a shareholder revolt: Knight Ridder, owner of many newspapers and boss of me. Newspaper circulation is falling and ad revenue is being Googled. That's why you're reading this blog. Run out and ask about 10 million of your friends to do the same. Now. And while you're at it pick up a newspaper. After rebates and the extended employee discount you should find it very affordable.
KR would sell more papers if they hadn't become so extreme in their liberal editorials.
I for one still like to have a newspaper in my hand, even if it ticks me off. Most people are idiots. Bok is an exception.