The Boston Globe is about to undergo another round of buy-outs that will be devastating to what was once a great newspaper -- before The New York Times came to town.Pulitzer Prize-winning columnist Eileen McNamara is bolting for academia. That moves follows a similar one in the last round from investigative reporter extraordinaire Walter Robinson. Also rumored to be looking to the door are veteran reporters and editors such as Steve Kurkjian, Charles Radin, Bob Turner and Peter Howe.
The NY Times is killing the Boston Globe, that much is for certain. They're turning it into a regional paper at best - and not a very good one at that. Mass Lib is right: these cuts are a self-fulfilling prophecy - by creating these cuts, the paper has a smaller depth in the news it covers, therefore less people will read it, necessitating even more cuts.
I can't remember where I read it - which is truly a shame - but there was an interesting article I read within the past year on a new trend in businesses: leaving publicly traded status to return to private hands. Why? Because when you're a publicly traded company, not only is there a responsibility to bring profits, but rather large ones at that. Newspapers are still profitable across the country, but not to the tune that makes investors happy. A 5-10% profit just isn't going to move the stocks up - and in fact could very well go way, way down. However, a private owner may be more than happy with 5-10% profits, especially when that 5-10% could be millions of dollars. An insulated environment would allow those companies to grow, in both profitability and what they deliver to costumers - and you just can't get that when you're pressured to axe jobs and cut expenses.
It's well past time for the NY Times to sell its subsidiaries - at least the ones that were once great papers, like the Boston Globe. The Times has forced the Globe to cut all of its international bureaus, national desk and much, much more. They've cut great columnists like Thomas Oliphant - and now people like Eileen McNamara. When does it end? When will the Times just sell the company, hopefully to someone from Boston - who cares about Boston having an established, at least national newspaper. The people of Boston - and the investors of NY Times, who clearly aren't getting their money's worth - deserve no less.