Friday, June 05, 2009

Simple Analyst

Robert MacMillan over at Reuters MediaFile observes some facile 'research' from Moody's on the future of newspapers (which he cites) and then concludes with this:
This seems to leave managers with only one way to stay in business for now. If you want your credit rating not to fall further, lay off a few hundred or thousand more employees and make sure the newspaper features a bunch of under-edited news, lame stories and mostly wire copy. Repeat process as often as possible until shareholders and bondholders have a chance to cash out. Then look for another job, maybe as a McKinsey-style efficiency consultant.
Well done. It's no wonder these rating agencies contributed to the mess we are in. I do hope no one pays for this report.

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