Laurie Garrett and Newsday

Democracy Now! directs me to this: Laurie Garrett has resigned from Newsday, and on her way out wrote a memo (scroll down) that blasts the idea of journalism as a profit center:

Ever since the Chandler Family plucked Mark Willes from General Foods, placing him at the helm of Times Mirror with a mandate to destroy the institutions in ways that would boost dividends, journalism has suffered at Newsday. The pain of the last year actually began a decade ago: the sad arc of greed has finally hit bottom. The leaders of Times Mirror and Tribune have proven to be mirrors of a general trend in the media world: They serve their stockholders first, Wall St. second and somewhere far down the list comes service to newspaper readerships. In 1996 I personally confronted Willes on that point, and he publicly confirmed that the new regime was one in which even the number of newspapers sold was irrelevant, so long as stock returns continued to rise.

The deterioration we experienced at Newsday was hardly unique. All across America news organizations have been devoured by massive corporations, and allegiance to stockholders, the drive for higher share prices, and push for larger dividend returns trumps everything that the grunts in the newsrooms consider their missions.

Firesign Theater once released an album: "Everything you know is wrong!"

This time, unfortunately, something we know is right.