Quote Of The Day — Creative Destruction Edition
The FCC is looking to relax some of their rules regarding media cross-ownership, in order to give fishwrap media a chance at survival. To do so, they need to be lean and efficient. One way to do so is to share their reporting staff with television news, to ensure the job is not needlessly duplicated. Yet a FCC Commissioner doesn’t agree:
“In this era of consolidation in so many industries, isn’t cutting jobs about the first thing a merged entity almost always does so it can show Wall Street it is really serious about cutting costs and polishing up the next quarterly report?” said Commissioner Michael J. Copps, who voted against the plan. “These job losses are the result of consolidation. And more consolidation will mean more lost jobs.”
Perhaps he’d prefer to hire on these journalists to dig holes, and then fill them up? After all, it doesn’t matter if someone’s job is useful, just so long as they have one!