Warren Buffett "would not buy (newspapers) at any price"

Well, nobody ever accused him of being an idiot.<blockquote>Warren Buffett has long held himself out as a newspaper man. As a child, one of his first jobs was delivering newspapers. An Omaha newspaper Berkshire owned, Sun Newspapers, won a Pulitzer Prize in 1973 based in part on a tip Mr. Buffett provided. One of Berkshire’s biggest investments in the 1970s was the Buffalo News, which it still owns.

But his view on the future of the newspaper industry is dismal. “For most newspapers in the United states, we would not buy them at any price,” he said in response to a question about whether he would consider investing in newspapers. “They have the possibility of going to just unending losses.”

The problem, he said, is that newspapers were once essential to the American public. As long as newspapers were essential to readers, they were essential to advertisers, But news is available in many other venues, such as the Internet, which means a dramatic drop in advertising revenue.</blockquote>http://blogs.wSportsJournalists.com/marketbeat/2009/05/02/buffett-sees-unending-losses-for-many-newspapers/

 

saw that and my soul froze.
buffett is a big newspaper guy, reads five papers a day, and owns them as well.
if he's turned, that's big trouble and since so many people do whatever buffett does, the end is nigh.

 

People will just get their news elsewhere! You known, from all those fucking blogs and sites like "the google" who make rounds and rounds of cop calls and attend city council meetings to make sure no one is dumping lead paint into your well water.

So tired of people saying "people are just getting their news elsewhere." Yes, they're getting it elsewhere from people who are grabbing original reporting and giving it their "take" and then posting it between pictures of Kate Perry's tits.

Hey readers! Glad you continue to thumb your nose at the mainstream media and visit my site! Here's my take on this NYT story about what's going on in Tikrit. I bet it was reported from a balcony in Amman. Anyway, I can't read the Times anymore because it has so much bias, so if I want to read about what's going on in Iraq, I'll just Google it.

 

He was sucking 35 percent profit margins out of the Buffalo News in good times, so fuck him. He was part of the problem, bleeding the golden goose dry without any real investments in building for the future.

 

I really couldn't give less of a rat's ass about what Warren fucking Buffett has to say about the future of newspapers.

 

I understand the sentiment, but you should care, if only because so many other people will let him do their thinking for them.

 

I should do a lot of things. I'm still standing.

 

Buffett, in his Berkshire Hathaway annual report of 1992, said much the same thing. The only good news is, he hasn't yet bailed. Owns the Buffalo News, is deep into The Washington Post company (on the board, owns 18 percent of the stock).

 

That seems like more of an indictment against the management instead of the newspapers themselves. He's right -- many papers right now are fucked. But is he selling the Buffalo News?

 

Any links to Kate Perry's tits? The statement is useless without photos.

 

He can write the losses off. The Buffalo News is a mere pimple on the Berkshire empire.

 

I know what you're saying, but what he says and thinks can have a substantial impact on others and could dicate their way of thinking. And that could cost a lot of good newspaper folks their jobs. (I know, I know....as if they're not losing their jobs already.)

I don't know what to think. And I'm not really sure it matters what anyone thinks at this point. Sad.