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As several of my columns illustrate, I spend a lot of time traveling.

Wednesday, 10 March 2010 13:40

Tracking how decisions are made at newspapers

Written by Marcus Augustus

Ever wonder how decisions are made within a newspaper?

It's said a picture is worth 1000 words. Well, on Wall St., a chart is said to be the sum total of all the thoughts, feelings, emotions and opinions about a company, and that the chart is always right.

Airports are strange places.

And I’m not talking about the sea of humanity that passes from gate to gate on the way to see loved ones, visit exotic vacation locales or travel for work.

No, I’m talking about the built-in audience the media has. It’s a captive one, and anyone who has ever sat in an airport waiting on a delayed flight knows exactly what I’m talking about.

When I last covered the newspaper stocks four weeks ago, my conclusion was that they were nicely trending up but were too far gone to chase. Gannett, McClatchy and The New York Times have broken out and rallied in the weeks prior; only Lee remained in its pattern. Given the lack of upside potential, there was nothing we could do but wait to enter on a pullback or wait for consolidation patterns to form. Today we'll review the charts to see if either of these two criteria has been met.

One thing's for certain.

Newspapers are a way of life for their communities.

That seems to be a common theme as I travel around the country going from newspaper to newspaper. The pundits say print media is dead. Well, before the naysayers put the final -30- on newspapers, perhaps they should visit small town America and see what newspapers mean there.

One thing newspaper people around the country LOVE to do is complain.

We complain about everything. Every day. Just like the product we produce, you can count on newsies complaining.

Too much work. Impossible deadlines. Sales reps. Ad builders. Editors. Management. Readers. Lousy press work.

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