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WPO Message Board

  • sage2123 sage2123 May 25, 2012 9:53 AM Flag

    Buffett On Buying More Papers

    The old guy may be losing it. Nostalgia.

    Our local paper is just like the ones he's talking focused. Strong local economy. They moved to a new location maybe ten years ago and installed new state-of-the-art Japanese presses. Then the bottom fell out. Dozens of layoffs. Even cancelled the Monday edition for a few years before recently reinstating it's publication.

    I really like papers too, but it's not a business model that workes in today's economy. Free digital news may be unsustainable also, but people can get news from so many sources now that papers will have a very tough time competing. Our papers editor was just replaced after only a few years at the helm.

    They are even picking up any other printing jobs they can find as their equipment is state of the art. Also sub-letting space in their new headquarters of help pay the note on the building.

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    • Buffett has gone from value investor to bailout investor. Like his sweetheart deal to grab BAC shares (or was it debt?), he's snapping up positions in politically connected businesses. Then if/when the feds lavish more taxpayer $$ on them, he'll cash out at a huge profit. The guy who bought Newsweek from WPO for $1 had the same idea.

      Sure wish WPO had options.