News You Can Endow

New York Times by David Swensen, Michael Schmidt | Jan. 28, 2009 (Opinion)

Today, we are dangerously close to having a government without newspapers. American newspapers shoulder the burden of considerable indebtedness with little cash on hand, as their profit margins have diminished or disappeared. Readers turn increasingly to the Internet for information — even though the Internet has the potential to be, in the words of the chief executive of Google, Eric Schmidt, “a cesspool” of false information. If Jefferson was right ... Full Story »

Posted by Fabrice Florin

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Subjects: Politics, Business, Media
Topics: Media and Politics, Philanthropy, Journalism, Mainstream Media, Media Ownership, New Media
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Posted by: Posted by Fabrice Florin - Jan 31, 2009 - 11:42 AM PST
Reviewed by: Fabrice Florin (review)
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Edited by: Fabrice Florin - Jan 31, 2009 - 11:42 AM PST

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Fabrice Florin
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 by Fabrice Florin - Jan. 31, 2009

Thoughtful observations about the potential to fund newspapers with endowments, as non-profit organizations rather than for-profit ventures. The authors (Yale's chief investment officer and financial analyst) provide a well-reasoned argument based on factual evidence, analyzing a range of options prior to making their recommendation. Excellent article about an unsolved dilemna that affects us all in deeper ways than we realize. Be sure to read the letters to the editor about this piece (see link).

I was struck by the author's thoughtful observation that a $5 billion dollar endowment could pay for the New York Times $200 million annual budget. Given the choice between fundraising for such an endowment or losing the quality journalism that newspapers like the Times provide, my first reaction is: let's find the money and make sure we preserve at least a couple newspapers before they fall into oblivion. We need strong journalistic organizations more than ever, and I think they ... More »

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  • Imagining Newspapers of the Future

    New York Times by Lynn Klyde-Silverstein, Elliot Neaman, Tim Straus, Martin Kimel, Joel Kramer, Jessica Wanke, Louise Dufresne | Jan. 31, 2009 (Comment)
    () Re “News You Can Endow,” by David Swensen and Michael Schmidt (see link), which says endangered newspapers can be saved if we “turn them into nonprofit, endowed ...
    Posted by Fabrice Florin
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  • How to Save The New York Times, Let’s Buy the Newsroom

    PJNet by Leonard Witt | Jan. 31, 2009 (Opinion)
    () On The New York Times op-ed pages yesterday there was an opinion piece about setting up a $5 billion endowment to perpetually provide the Times with a $200 million annual ...
    Posted by Dale Penn
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