The Other Bailout

Obviously, publishing Men’s Vogue never made a whole lot of financial sense (What’s your target demographic – men too metro for GQ?), but I really hope Conde Nast doesn’t fold Portfolio. Here, for example, is a great article from the magazine on why General Motors should restructure via bankruptcy instead of waiting on another government bailout:

Which brings us back to G.M. and the case for Chapter 11. A bankruptcy filing, if managed properly, might not be a death sentence for G.M. but instead a chance for it to streamline its operations. A desperate move? Sure, but less so than acquiring Chrysler, which is akin to tying two stones together to see if they’ll float. A G.M.-Chrysler merger, should it happen, would produce lots of fancy PowerPoint slides about synergies and savings. But it would also be an enormous distraction for a company that has dithered too long without addressing its urgent need to restructure and downsize.

Persuasive stuff. And they put out a high quality product on a regular basis. Here’s a quirky article from a few months back on the adult entertainment industry that I’ve been waiting to link to for ages. So my message to lawmakers in Washington is simple: bailout rescue high-quality niche magazines, not the auto industry!

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1 Comment

Filed under Economics, The Media

One response to “The Other Bailout

  1. Pingback: Worthy Links «

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