Catherine Spearnak 3:30 p.m., March 6
Do Manchester, Lynch Read Economic News?
New Union-Tribune owner Papa Doug Manchester and his chief executive, John Lynch, discussed their plans for the newspaper today (Dec. 15) on KPBS Midday Edition.
Manchester, local hotelier, and Lynch, radio entrepreneur, have had their ups and downs in business, and one wonders if they read economic news. The most interesting statement today was "There is no way to report the news if there is lots of negativity associated with that news."
Sorry. There is no HONEST way to report economic and financial news today without emphasizing the negative. The U.S. is recovering very slowly from its deepest downturn since the Great Depression. Europe and its banks are on the brink of the abyss.
These events, and more frightening ones, dominate any RELIABLE financial news. You can see that in the Wall Street Journal, Forbes, Fortune, Bloomberg/Business Week, Bloomberg News, Dow Jones newswires, MarketWatch, Yahoo! financial, and TV business/financial news coverage.
In today's show, Manchester and Lynch reiterated their philosophy of cheerleading for local business and institutions and emphasizing sports. It appears that these biases are already showing up in business, sports, and Chargers stadium-subsidy stories in the U-T.
The publication Poynter reported today that the USC Annenberg Center for the Digital Future says that most print newspapers will be gone in five years. Unless the Manchester-Lynch philosophy attracts advertisers who only want happy talk (especially about themselves), the U-T print edition may not make it through those five years.
The rumor is also making the rounds that KUSI-TV will take over SignOnSanDiego, which will be located on the first floor of the Mission Valley building. KUSI-TV has been late in its development of its own website compared with other TV stations.