Report: Boston group may make bid for Globe

The best thing about Welch's cost-cutting statement is that it isn't true. Plenty of businesses have been ruined by cutting costs too much too fast, not just newspapers, either. Welch was blowing smoke to sound tough to Wall Street, whose investment ideal is a corporation with no employees at all.
I agree the Globe's decline in value is impressive. Remember, however, that the late '80s up to 1991 were the high point for local/regional newspaper circulation and revenue. Both the Globe and Herald sold more papers in that period than ever before or since. The Taylors sold at the top of what turned out to be a bubble.
The problem for Welch is, would he be buying at the bottom? More people went broke getting back into the market after they thought the Crash of '29 was over than during the crash itself.
We all have a rooting interest in the industry. Can't speak for others, but I'm not fit to do other work. Nevertheless, sitting here in my home, I come up with the following question. Would I spend half a billion bucks to buy a company that's having trouble selling its product for fifty cents a pop? My personal feelings about newspapers aside, the answer is expletive-of-your-choice no.