Times Publisher Compares Print Media to the Titanic
"We are trying to convert shipping companies to airplane companies," said Sulzberger. "Same business: transporting people safely across long distances. Different cost structure, different way of doing business, but the same core business. There is still a very vibrant business in shipping. It's just not taking masses of people across the Atlantic. It's now taking families around the Seychelles, or something like that. There will still be passenger ships, but they're not going to be in the same business. So print will still be here, I believe, decades from now. But will it be the driving force? No." (NY Magazine)
The News Business Fails the City
The Mayor's Press Pass The unexamined world of Mike Bloomberg One reason for the remarkably charmed life of Mike Bloomberg's administration as he sails toward re-election has been the waning of the city's news business. . . When this city enjoyed four fat daily newspapers, editors clamored for strong, tough copy to fill them. Whenever scandal hit—make that even a mini-scandal—each one scrambled after the story. Local TV news, which gets its morning bearings from the dailies, gleefully joined the hunt as well. This happy combination produced many full-strength media pile-ons and visible shivers in City Hall. . . We have the Web, with all of its many hardworking blogs, but most of these spend their energies keeping political scorecards with all the obsession of fantasy baseball addicts: Who's on first, and what coaches are in the dugout? The business of government and its many failings goes largely unexamined (Robbins Village Voice)
Tribune's Zell: Newspapers Can't Survive
Nobody Asked Me, But ... Everyone except the NYP editorial board knows that Quinn endorsement was all about trying to keep her speakers position. Brooklyn and Bill Lynch and others are trying to build a minority coaliton against her so not endorsing Thompson would just feed there effort Quinn's Double-Edged 'Endorsement' *** The Fog of Ethics in Albany The FBI released the tapes of convicted Assemblyman Tony Seminerio that showed how he turned his elected office into a lobbyist extortion bag man operation. There solution was to MONITORED the legislatures incomes better. Has the paper ever heard of cash? If you MONITORED Heveis income you would never have caught Hark Morris who is on trial for a nationwide organized crime operation to loot pensions. You would never have caught former Liberal Party leader Ray Harding who sold his party ballot line for cash. If you MONITORED income you would never find the money convicted Assemblyman Brian McLaughlin paid to his girlfriends. The NYT knows that today's elected offices in Seminerio own words don't give a shit and will find new ways to rip off the public. It was the FBI using McLaughlin that caught Fat Tony Semierio. What the NYT should be demanding is that the DA's and others local prosecutors do their job ***
Pay to Play
Comptroller ThompsonGMAC Mortage
I guess Thompson did get some personal help from his comptroller position Barrett: Bill Thompson Received Millions in Loans from the "Labor Bank" He's Promoted as Comptroller *** Thompson denies pay-to-play between his mortgages and his office
Swiming in Dark Pools of GMAC Tarp It is impossible to find our what is going on with our tarp money, because it flows into a network of financial companies who work together with each and the government behind closed doors. But if we follow GMAC and its third request for tarp funds we get clues. GMAC problems come from its commercial real estate arm Capmark Financial which may file for Chapter 11 bankruptcy protection any day. So the GMAC has more to do with commercial real estate than it does from selling cars, which is the given as the reason for the tarp loans from government. Kohlberg Kravis Roberts, Goldman Sachs Capital Partners, Five Mile Capital and Dune Capital bought GMAC’s commercial real estate businesses in 2006 for about $1.5 billion, with GMAC retaining a 25 percent stake in the operation. K.K.R. has already written down the value of its Capmark investment to zero. We also know that other big guys are involved. Last month, Capmark agreed to sell its mortgage loan and servicing business to Warren E. Buffett’s Berkshire Hathaway for as much as $490 million. That agreement carried a 60-day expiration date, or around Nov. 2 — unless Capmark filed for bankruptcy, which would give it another 60 days to complete the sale. Even Pension Czar Steve Rattner was an investor in the investment fund that controlled Chrysler and GMAC. Before Rattner was appointed Auto Czar Mr. Rattner had a relationship with Cerberus Capital Management, an investment firm in New York that owned the majority of Chrysler and GMAC, the financing arm of General Motors. Mr. Rattner invested $500,000 to $1 million in a Cerberus fund that invested in auto parts companies. GMAC eyes fed aid again Despite signs of an economic recovery for the stronger financial firms, GMAC Financial Services and Uncle Sam are in negotiations for a third helping of taxpayer money. The Treasury Department is likely to inject $2.8 billion to $5.6 billion of capital into the troubled Detroit company, on top of the $12.5 billion that GMAC has received since December 2008 Big Lender GMAC Asks for More U.S. Aid (NYT) GMAC Asks for More U.S. Cash (WSJ)
The Mayoral Debate Bloomy and Bill in Yankee basebrawl (NYP) *** Bloomberg Is Quick to Attack, Yet Vague on Mission *** Mayor Pounds His Opponent in the Last Debate (NYT) *** Thompson, Bloomberg pull out all stops: Debate *** Michael Bloomberg hit Bill Thompson for wanting to raise taxes and mishandling schools. Thompson got him on giving money to Cory Booker *** John Schiumo: “Bloomberg said his opponent will raise taxes. Thompson said his opponent HAS raised taxes.” *** Thompson “struggled to define himself” says the AP *** Michael Powell doesn’t see Bloomberg’s purpose, but catches this memorable line: “It’s very easy to say I feel your pain. That’s not what we need.” *** Mayoral Candidates Spar Over Taxes In Final Debate (NY!) *** Bloomberg keeps mayoral opponent on the defensive in debate; Democrat struggles to define self (AP) *** Bloomberg, Thompson in Final Debate (WNYC) *** Dissecting the Claims: Exaggeration Amid Truth (NYT) *** Bloomberg and Thompson Act Like Politicians on Taxes(Politicker) *** Today's Tip Sheet: Debate Continues After the Debate *** WABC poll finds 44% of debate watchers say Mayor Mike won. Only 30% gave the nod to Bill Thompson *** Aggression, a bad grade, a friendly handshake: What you missed in the spin room *** Bloomberg and Thompson: Whom Do You Believe? Gabe Pressman
Bloomberg: "The only jobs he's ever created are the patronage jobs in the old Board of Ed and maybe some jobs for some money managers and placement agents."
Thompson: "This is just another example of the mayor's giveaway to another one of his developer friends in the city."
Road to City Hall ACORN: Vann, go In a stunning move, the Rev. Al Sharpton and Councilman Charles Barron joined ACORN to backed Griffith. Sharpton said it was time for the 74-year-old Vann to make way for "a new generation." *** Thompson now sees it Rudy's way *** Bloomberg Campaign Spends $37,000 an Hour for Three Weeks *** Newark Mayor Backed Bloomberg, Then Got Funds (NYT) *** Poorest schools didn't get Fed cash for Reading First: Audit *** Charges sprayed in Rockaway City Council showdown *** Bloomberg Beats a Dead Horse (Observer) *** Bill Thompson got a loan from a bank connected to big labor *** Michael Goodwin calls Thompson a hypocrite for criticizing, then echoing, Rudy Giuliani *** Tom Ognibene doesn’t like party labels, and Dan Holloran is complaining about the Queens Tribune *** Hizzoner wins big with NY's undecided *** Catsimatidis Splits the 2010 Baby *** Bill Thompson said the Village Voice article about his mortgage isn’t true, and that the Times investigated, but didn’t run a story on it *** Queens Democrats Back Challenger to Monserrate
Gov of La Mancha Gov off hook in Caroline flap(NYP) *** No Ethics Inquiry Into Kennedy Leaks *** Gas Company Won’t Drill in New York Watershed *** More praise from White House for possible New York governor candidate Andrew Cuomo *** Paterson bungles an endorsement of Democratic candidate Bill Owens. (WDT) *** Paterson’s effort to full the DOT Commissioner role hits a snag. (NY Observer) *** "We have no idea who the commission interviewed, if anyone, about our complaint," said NYPIRG's Blair Horner. The determination was sent to groups, and not made public. Nothing about the inquiry is public *** Paterson's spokesman said he "is pleased that this matter has been investigated and that the Commission on Public Integrity has determined that no one in his administration violated the Public Officers Law." *** Paterson says New York is at a "seminal moment," financially speaking
New York Economic Melt Down The never ending joke of affordable housing in NYC From Economic Policy Journal *** New Jersey Extends Inviting Hand Across the Water *** California Would Lose Seats Under Census Change *** Bargains Abound in New York’s Sublease Market *** Survey finds 601 troubled condo projects (Crains) *** World Series ticket prices falling *** NYC businesses poised for world-class payday from World Series *** Judge orders DC37 union to put up $800K to cover aides' cost *** Citing a lack of a pay raise, Chief Judge Jonathan Lippman announces that judges around the state will see their lump-sum stipends doubled to $10,000. (TU) *** Locals protest new hikes in DMV fees. (Did you know that to keep your license number, you have to pay 20 bucks on top of the new $25 fee?) (TU) *** People are leaving New York for Florida, according to a new report. (TU) *** Gov. David Paterson warns that the state faces a cash crunch. (GNS) *** The state teachers’ union, NYSUT, starts a campaign against mid-year education cuts. (Legislative Gazette) *** On CNBC, Paterson once again warned the state could run out of money by December *** The Pension Rate of Return Swindle (Room 8) *** Bloomberg Saw Development as Future, and Future Is Stalled *** Welcome! New MTA chief called a 'doody-head' by union official *** PM A Candid Ravitch Warns of $25 B. Budget Gap, Hints at Tax Overhaul *** NYSUT Blasts Paterson Plan *** It’s a Bargain! For Now. Those tax breaks that kept condo fees low? They’re expiring—and buyers are noticing ***State Senator Carl Kruger told David Paterson he's not coming around to all his proposed spending cuts *** Ravitch Says States Face Total Deficits of $500 Billion in 2011
Law and Order Hiram gal: Let me be his love again *** NYPD racial clash probed: white, black officers in standoff *** Developers with mob ties paid $5.5M for east Bronx land - then sold to city for $46M *** Cuomo's office reviewing pension cases for fraud *** Kerik Lawyers Set To Appeal Decision To Revoke Bail *** Bernard Kerik’s Disgrace ***PM Judges Refuse to Free Kerik Before Trial *** Former NYC-TV Official Pleads Guilty to Conspiracy *** Former Bank Employee Is Charged in Fraud Scheme
More City News Good for some, good for all: Anti-charter school diehards are stripped of their last argument(DN Ed) *** New Database Will Allow New Yorkers To Compare Health Care Costs
White House Oval Man Cave After getting knocked for being traditionally male and for stories about a frat-house atmosphere, the president is finally willing to let women in on the games (Dowd NYT) *** Obama Stumps for Deeds in Va. *** Blast Rocks Pakistan Amid Clinton Visit *** Obama Pay Czar Actually RAISED Base Pay At Bailed Out Firms
*** Barack Obama Is Doing My Job; Why America Needs Him to Do His Arianna Huffington *** The New York Federal Reserve under Tim Geithner pushed AIG to make full payouts to banks. (WP) *** 1-Year Poll Shows Changed Views on Obama - Susan Page, USA Today *** Troop Level is the Easy Part - Doyle McManus, Los Angeles Times *** Obama Says No Rush on Afghanistan. There Should Be - Iain Martin, WSJ *** $250 Checks for Elderly Overlook Reality - David Leonhardt, NY Times *** Michelle Obama and Jill Biden will be at Yankee Stadium tonight *** Market Bombing Greets Clinton *** ComedyWATCH: Daily Show Investigates Bush's Motivational Speaking Career
Pay to Play WH Democratic donors are reportedly given exclusive access to the White House. (WT)
Congress Deals with the devil NY GOP's Dem-lite candidates ***Lieberman health dare *** Delicate Dance for 2 Lobbyists on Health Bill *** Democrats Divided Over Reid Proposal for Public Option *** Bill Seeks to Shift Rescue Costs to Big Banks *** Democrats Propose Bill to Thwart Overseas Tax Dodgers *** Lieberman threatens to sink health plan with public option *** “Albert Einstein once defined insanity as doing the same thing over and over again and expecting different results. By that standard, the New York Republican Party has surely lost its mind,” writes Fred Dicker about the GOP’s decisions to run moderate Republicans in the 23rd Congressional race, and others. (NYP) *** GOP Must Embrace Voters' Passion - Tony Blankley, Washington Times *** A Midterm Message in Virginia and New Jersey - Robert Shrum, The Week *** A GOP Health Plan - Chicago Tribune ***Traitor Joe - Paul Begala, The Daily Beast
Wall Street and the Economy No bad blood: pay czar *** Galleon Group sells majority of holdings *** Goldman unit takes shine to inner city *** AIG shares slide, report speculates on brain drain *** Hilton Debt Weighs on Blackstone *** Ex-AMD Chief Ruiz Tied to Galleon Case *** 'Jobs Created or Saved' Is a Political Fantasy - Caroline Baum, Bloomberg *** The New Red Ink Scare - Robert Borosage, Huffington Post *** Paul Volcker and Mervyn King Are Slapped Down - Thomas Cooley, Forbes *** Wall Street Begins To Play New Game of Risk - Paul La Monica, CNNMoney *** Who's Telling on the Stock Market? - David Weidner, MarketWatch *** Steve Forbes on the Economy, Media & Future of GOP - Matt Welch, Reason *** Economic Freedom Fighters Must Unite - Larry Kudlow, RealClearMarkets *** Economic Freedom Fighters Must Unite - Larry Kudlow, RealClearMarkets
International Brother of Afghan Leader Is Said to Be on C.I.A. Payroll *** U.N. Building in Kabul Is Attacked *** Don’t Build Up The U.S. does not have the Afghan partners, the allies, the domestic support or the financial resources to justify a nation-building effort in Afghanistan (Friedman NYT) *** Islamic Countries Push Global 'Blasphemy' Law - Christian Science Monitor *** Showering With Hugo - Investor's Business Daily *** Why Russia Won't Cooperate on Iran - Seth Robinson, The New Republic *** Iran: Delay, Confuse and Backtrack - Frida Ghitis, Miami Herald *** Cubans Debate Future of Socialism - Nick Miroff, Global Post *** Chinese Suspicious of Charity *** Britain Trades Favors for E.U. Presidency
Terror Plot 'Hezbollah' dad tried to help thugs *** Queens' very own illegal alien terrorist *** Men Accused of Trying to Supply Hezbollah *** PM F.B.I. Raid Kills Islamic Group Leader Near Detroit
National Christie surges in polls *** California Would Lose Seats Under Census Change *** Alabama Pension Fund Plows Millions Into Property in Its Own Backyard
Baseball Playoffs Robin Roberts remembers Phillies vs. Yankees, 1950
Twitter Message SteveScottWCBS RT @lapresmidi Sadly, I have been laid off. My expertise is fashion/retail but I can write about pretty much anything. --> Good luck, Lauren
Media and New Tech For Memoir, Palin Received $1.25 Million 'Retainer' ***Newsman to Speak at Events of Group Opposed to Health Care Plan ***Promoting Gourmet, Even After Its Death in Print Media ***French Papers Aim at Younger Readers *** Fox 5 wins with the World Series *** Facebook to keep profiles of dead people ***WATCH: Shep Smith Apologizes For "Lack Of Balance" In Fox News Report *** As of today, it is no longer free to read Newsday on-line. (It costs $5 a week) *** What Turns Programmers Into Hackers? *** Dr. Oz Ratings Continue To Impress *** Tom McGeveran Is Leaving The Observer ***
Politico Owner Launching Local DC News Site With Ex-Washington Post Online Editor: MEMO
*** Google Boss: Chinese Language Will Dominate Web Also in 5 years: social media will rule
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