FT.com / Companies / Media & internet - Subprime crisis hits newspapers’ revenues
En daar komt ie…
Uit de Financial Times:
‘The subprime mortgage crisis is tearing through the newspaper industry as US papers suffer sharp falls in real estate advertising.

The extent of the damage was visible this month when Tribune Company, which owns the Los Angeles Times and Chicago Tribune, reported a 40 per cent decline in November for its real estate classified advertising revenues.

Gannett, the largest chain, said recently it was on track for a 27 per cent drop in real estate advertising for the fourth quarter after reporting a 23 per cent slide in the third quarter.’

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Quote, The Bankwatch:
‘Why does the whole thing feel like Nero fiddling while Rome burns? Of all the points in the article, the reference to the lack of connection between the financial economy, and the real one befuddles me. There must be a connection, and at best a lag. Losses are losses, and someone has to pay. Losses breed layoffs. Layoffs breed consumer spending reduction. Or are corporate and bank profits so large, that losses can be absorbed, and capitalisation retained?’

Toch bizar dat een nagenoeg ‘virtueel’ kunstmatig eigenlijk door de banken zelf gecreeërd probleem de echte wereld gaat raken.

Maar misschien is er meer aan de hand… Wat als dit niet het enige probleem is?

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Forrester Research:
by Carey Schwaber
with Mike Gilpin, John R. Rymer, David D’Silva

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