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Elsewhere,
the stock market plummeted again today and a new Forbes
Magazine article says the credit crunch
that is behind the market collapse could hasten the slide
of newspapers into oblivion. The Forbes article
said "The cash-starved New York Sun
went under Monday and on Wednesday the Minneapolis
Star Tribune said it was skipping a $9
million quarterly debt payment, prompting worries of a
potential bankruptcy. But that's not the worst of
it. Standard & Poor's put newspaper giant Gannett
(publisher of USA Today) on credit watch,
concerned revenue declines could accelerate at the
newspaper giant...With the nation's financial system in
the grips of a credit crunch, Gannett and the rest of the
already-weak newspaper industry are in a tough spot. With
sinking credit ratings and tight debt markets will make it
tougher for them to invest and survive."
Of course more and more
people now turn to the Internet for news. In
addition to the usual sources, blogs and RSS feeds
making it easy to assemble electronic versions of your own
personalized newspaper. Speaking of RSS, Sedo
announced today that it would be auctioning off RSS.com
through their GreatDomains
platform on October 16th. The reserve price will be
$750,000.
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Scene
from T.R.A.F.F.I.C. New York 2008 |
One other note, our
new October
Cover Story has just been published.
The article contains our comprehensive review of
the 2008 T.R.A.F.F.I.C. New York conference
that ended just a few days ago. The new conference
venue in Brooklyn presented a striking
dichotomy between two different worlds. Just
across the river, Wall Street giants were
caught in a free fall that forced taxpayers to
cough up $700 billion for a bailout. Yet
only a stone's throw away, unbeknownst to the
outside world, 350 visionary people were tending
to thriving businesses in an industry that
continues to have an exceptionally bright future. With
the rest of the financial world in crisis, you
will want to read this story to see what other
industry pros have to stay about the future of
domains. Our definitive show review is also loaded
with exclusive photos that you won’t see
anywhere else.
(Posted
Oct.
6, 2008) |
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