I know this is an odd title for a post, but there are a multitude of things that are happening around us and some are worth mentioning. This is one of them. Today the media giant became the first major newspaper or chain to file bankruptcy in the modern era. This tactic is aimed at relieving financial pressure while the Tribune works out arrangements with it’s creditors.
The Chicago-based company owns a coast-to-coast empire with television stations and newspapers in most of the nation’s largest cities. Its holdings include the Los Angeles Times; cable television superstation WGN in Chicago; the Baltimore Sun; and WDCW-50 in Washington, the CW affiliate. The company also owns the Chicago Cubs.
The reason this is important is that it signals a trend that has been in the background for a while. The old ways of receiving and dispersing information are no longer financially viable and will cease, eventually.
Real estate mogul Sam Zell engineered an employee-owned transition to private ownership one year ago this month. He says, “We believe that this restructuring will bring the level of our debt in line with current economic realities, and will take pressure off our operations, so we can continue to work toward our vision of creating a sustainable, cutting-edge media company that is valued by our readers, viewers, and advertisers, and plays a vital role in the communities we serve,” Zell said. “This restructuring focuses on our debt, not on our operations.”
With the President using the word Recession and the failings and moves by major businesses, the tempo of concern is speeding up among the consumer. The key in all this is to maintain a balanced personal outlook. The fundamentals are called “fundamentals” simply because they remain when everything else is failing. The fundamental of living in Today, the Present, is one we should keep in front of our eyes.
The past is gone, the future is not yet here. Change and Decision can only take place in the magical land of Now. You control Now; your reaction and action. Live on purpose and keep to the fundamentals.
christopherhildreth 