July 13, 2007

And then the REIC-advertising-supported newspapers started laying off their staffs

What's gonna disappear first, having been disintermediated by the internet, discredited by their lies and distortion, and absolutely crushed by the housing crash...

Realtors or Newspapers?

Well, now we know why the MSM were such active cheerleaders of the housing bubble at the time - look no further than their REIC-driven and desperately needed ad revenues which have now gone kaput.

Now we just need to figure out why the f*cked up so bad on Iraq.

Paper scratches 40 jobs - Soft real estate market impacts ad revenue

A steep but cyclical decline in real estate advertising has forced The Bakersfield Californian to eliminate 40 positions, 10 of them through layoffs, company President and CEO Richard Beene announced Tuesday.

Between 2004 and 2006, The Californian enjoyed strong profits largely because of an "exploding real estate market," Beene said. But recently, real estate agents, home builders and others in the industry have scaled back their advertising, he said.

The real estate market is not expected to rebound until 2009 at the earliest, he said.


Anonymous said...

Reporters and Realtors standing in line at the benefits office


Anonymous said...

Lay them ALL off they don't do anything anyway... oh wait they do report on Paris Hilton.

Stephen said...

Wow. Not until 2009? Estimates are being revised closer and closer to iTulip's date of 2012.

Anonymous said...

Too bad, that means less taxpayers and more debt to support them.

Anonymous said...

LauraVella said: Rebound somewhat in maybe 2020!

devestment said...

I was thinking of advertising in the newspaper this morning. Too bad it's an old world commodity with new world pricing.

Anonymous said...

Now we just need to figure out why the f*cked up so bad on Iraq. Follow the $.

RJ said...

The CEO, Beene, said that the RE market isn't expected to rebound until 2009 at the earliest. A little bit more pessimistic than the official "things will turn around in 2008" propaganda.

Shakster said...

Newsoutlets in this case MSM,will always be viable.They serve to distract sheep from reality.The reality news of blogs,and online independants will serve the rest of us well.It would be nice to see alll the sheep wake up,and protect themselves from the scams that the MSM helps to promote,but that will never happen.The entertaining mix of garbage distraction(worthless news),omissions,falshoods,and propaganda combined with how to get rich bullshit that CBSNBCABC,and FOKT push is just to mesmerizing for the majority of so called "Americans".
So relax and enjoy the show.
It is masterful how the MSM combines with the commercial Banks to push millions into the jaws of slavery.This episode was the HOUSING,and Loan Scam.Notice how they have Refinance,and low interest advertising as the majority of commercial spots,then take note of the distractions.Example-Today in LA they are devoting gobs of air time some Dickhead Soccer Player from England(Worthless),then they have there BS"We're Here to help you" financial hours.These are distrction combined with fill,combined with "stay in your investments" stuff,nothing really useful,but it all covers their ass.
Paris Hilton or Bear Stearns? You Guesssed it.
This is proof positive that sheep are here to stay,and that god put them on earth for one reason-To Fleece.

Anonymous said...

Keith, you still haven't figured out why the press lied about Iraq? The second I saw an embedded journalist, I knew exactly what had happened. The MSM sold us out for an idea they thought would mean stellar ratings, brilliant careers and lots of money all around.

The Pentagon knew exactly what they were doing when they thought up that little scheme.