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• Newspapers beaten to a pulp

  Posted Oct 02 2008, 12:27 PM by Todd Harrison
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  Filed under: Internet, News Corp., stock market, online video, Todd Harrison
  Money Blog: Top Stocks Blog - MSN Money

  On the wall of the lobby of the Baltimore Sun is a quote, reprinted in large type, from its great columnist H.L. Mencken. It reads:

  "As I look back over a misspent life, I find myself more and more convinced that I had more fun doing news reporting than in any other enterprise. It is really the life of kings."

  The quote is nostalgic and romantic, and I’m reminded of it every time I read another death notice for newspapers: Indeed, they're in bad shape, knocked flat on the canvas and in danger of staying down for the count.

  While Mencken and the reporters of past generations dreamed of being newspapemen, the idea is anathema to younger generations -- they either read the news online, or not at all. The shift has been calamitous: Newspapers have as yet been unable to monetize their online operations.   Read More...

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• Next Forecast: You'll review Markman's '07 predictions

  Posted Jan 04 2008, 11:35 AM by Jon Markman
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  Filed under: investing, Internet, Amazon, News Corp., Yahoo, stock market, Ford
  Money Blog: Top Stocks Blog - MSN Money

  

  Whenever your job is getting you down, just be glad you aren’t a financial journalist who has to make annual predictions that live forever on the web.  Since the advent of MSN Search and Google, there is no hiding my most unfortunate calls in the drawer anymore.  It’s all out there.  So as an addendum to my 2008 forecast, which you can read right here, here’s how my '07 predictions fared.  

  1. Bull market, year 5.  Well, sort of.  I forecast an S&P 500 gain of 13% on 2007.  We got 3.5%.  The Nasdaq 100 did go up 19%, though, so let’s average them out and call it good.
  
  2. Goldilocks lives!  I forecast modestly rising inflation, modest job growth and below-trend U.S. economic growth of 2.6%. This was right on, as annualized growth came to 2.8% in 2007.   Read More...

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