Here is a passage from the 1984 Berkshire Hathaway Chairman's letter. You will find it very pertinent. It should answer all the complaints that many twitterati and others have about the editorial content of our local dailies.
The economics of newspapers are excellent, amongst the very best in the world. Owners, naturally, would like to believe that their wonderful profitability is achieved only because they unfailingly turn out a wonderful product. That comfortable theory wilts before an uncomfortable fact. While first class newspapers make excellent profits, the profits of third-rate papers are as good or better - as long as either class of paper is dominant within its community. Of course product quality may have been crucial to the paper in achieving dominance. We believe this was the case at the news (Buffalo Evening News - owned by Berkshire Hathaway), in very large part because of people such as Alfred Kirchhofer who preceded us.
Once dominant, the newspaper itself, not the marketplace determines just how good or how bad the paper will be. Good or bad, it will prosper. That is not true of most businesses: inferior quality generally produces inferior economics, but even a poor newspaper is a bargain to most citizens simply because of its "bulletin board" value. Other things being equal, a poor product will not achieve quite the level of readership achieved by a first class product. A poor product, however, will still remain essential to most citizens, and what commands their attention will command the attention of advertisers.
Since high standards are not imposed by the marketplace, management must impose its own.
Once dominant, the newspaper itself, not the marketplace determines just how good or how bad the paper will be. Good or bad, it will prosper. That is not true of most businesses: inferior quality generally produces inferior economics, but even a poor newspaper is a bargain to most citizens simply because of its "bulletin board" value. Other things being equal, a poor product will not achieve quite the level of readership achieved by a first class product. A poor product, however, will still remain essential to most citizens, and what commands their attention will command the attention of advertisers.
Since high standards are not imposed by the marketplace, management must impose its own.
In a nutshell, local newspapers can continue with their wrong grammar, inaccurate representations of facts, poor insight and analysis simply because it doesn't affect their economics.
sounds like kenyan newspapers in 2011. Nation tries but Standard, Oh my word, its like a blog by a bandit of part timers lol. cant they get some full time people with an education to write for them?
Well Kiterunner, we all read in shock at times. I guess as the Mr. Buffett suggests, it's the newspaper that suggests how good or bad it will be.