A low whine from the Naked City (II)

Alan Mutter, one of the best newspaper analysts in the blogosphere, shares Adam Reilly’s and my skepticism about Douglas McIntyre’s list of doomed newspapers. Mutter calls McIntyre “a friend,” but adds that there is “no hard data or deep analysis to support his findings.” He continues:

Although some of the papers one day may succumb to anemic readership and revenues, there is not enough information or analysis underlying the scary list to support the proposition that the publications are more or less doomed than any of 10, 20 or 30 other papers that might have been named, instead.

What Mutter’s got to say about Boston is especially interesting:

Even though weak economies are hardest on the No. 2 papers in two-newspaper towns, Doug predicts the demise of the print edition of the Boston Globe while saying nothing of the apparently fragile financial status of the far smaller Boston Herald.

Over at the Phoenix, Reilly responds to the Inside Track’s criticism.

Update: Paul McMorrow nails it.

NewsTrust J-hunt: The final five

My stint as host of NewsTrust’s journalism topic area comes to an end today. Here are five stories I submitted this morning:

I could write an entire post on the last item, but I’ll just say this: Stewart is perhaps the best and most important media critic we’ve had since A.J. Liebling.

His dissection of CNBC’s Jim Cramer last night — as well as his two eight-minute pieces lampooning the so-called experts of CNBC (here and here) — will have, I predict, a major and well-deserved negative effect on the network.

A low whine from the Naked City

Is this what the Boston Herald calls a correction?

The Herald’s Inside Track chides the Phoenix’s Adam Reilly and Media Nation today for questioning a blog post by financial analyst Douglas McIntyre placing the Boston Globe on a list of 10 newspapers that may go out of business or go online-only by the end of the year.

What’s really amusing, though, is the way the Track quietly corrects an error made earlier this week on Jessica Heslam’s Messenger Blog. The error — which had Time magazine predicting the Globe’s demise — remains uncorrected.

As Media Nation was the first to report, Time, like several other media outlets, was merely running the feed from McIntyre’s 24/7 Wall St. blog on its Web site. Naturally, the Track takes Reilly and me to task for not doing any “reporting,” which it conveniently defines as not calling the Globe in order to get a “no comment.”

Finally, the Track manages the neat trick of lampooning Reilly’s and my skepticism over McIntyre’s claim that the Globe is worth only $20 million while simultaneously acknowledging that the paper’s real estate and other assets are probably worth more than $100 million.

The plain fact is that the most recent analysis anyone has seen is one put out by Barclays Capital analyst Craig Huber, who estimates the paper’s value at $192.8 million.

The newspaper business is in unimaginably bad shape, and the Globe is as vulnerable as any paper. If being cautiously optimistic about the future of the Globe makes me hopelessly naive, then I offer my deepest apologies.

Then again, I’m also one of the few media-watchers I know who predicts that the Herald will also survive. I suppose I could be wrong about that, too.

More: WBZ Radio (AM 1030) still has a Tuesday report up on its Web site wrongly attributing McIntyre’s item to Time magazine. Come on, folks. This isn’t that hard.

Nice guys finish first

Paul Levy, president and CEO of Beth Israel Deaconess Medical Center, is one of the Boston area’s great managers and leaders of the past generation. So I’m not surprised — as Boston Globe columnist Kevin Cullen reports — that he earned a standing ovation when he suggested that high-paid people at the hospital sacrifice in order to save low-paid jobs.

On and on the NewsTrust J-hunt goes

But it all ends tomorrow! Today’s five six picks:

Here, once again, is NewsTrust’s journalism topic page. Please consider taking part.

The M-word makes an ugly appearance

It’s hard to believe, after all these years, that the word “midget” would pop up in a front-page story in today’s New York Times. David Segal writes:

After the Depression, Congress formed what became known as the Pecora Commission, which grilled top financiers. But the point was mostly to embarrass them, and the upshot was to set the stage for stricter regulations. The most indelible image of the commission’s hearings was a photo of J. P. Morgan Jr. with a midget who had been plopped in his lap by an opportunistic publicist.

The American Heritage Dictionary makes it clear that the M-word is “offensive.” In my book, “Little People,” I trace the history of this unfortunate word, possibly coined in the 1860s by Harriet Beecher Stowe and inextricably tied up in the idea of putting someone on public display.

NewsTrust: The J-hunt continues

Five more stories on journalism for your perusal:

If you’d like to join in the fun, sign up for NewsTrust and visit the journalism topic page.