Somehow I missed this news about The Onion (via Tank Riot):
Andrea Hansen, advertising sales manager at Capital Newspapers, which publishes The Onion locally, sent out an email this week explaining that the newspaper was not renewing its contract with The Onion. Hansen could not be reached for comment. Todd Sears, Capital Newspapers’ general manager, did not respond to a request for comment.
Bob Marshall, a spokesman for The Onion’s corporate headquarters in Chicago, confirmed the news in an email.
“Unfortunately, yes, the Madison print edition will discontinue at the end of the month,” Marshall wrote. “The local readership of the paper remains strong, yet with the changing landscape of media, the advertising dollars needed to keep a Madison print edition going just weren’t there.”
I can’t help but lump this mentally in with the sale of The Washington Post to Jeff Bezos, and related developments, such as the blog, The Monkey Cage, moving from independent to WaPo listing (via Marginal Revolution). Leaving aside that The Monkey Cage‘s new paywall deal sounds improvised, Neil Irwin at Wonkblog explains the problems newspapers have today.
OK, timeliness is not my strong suit! If I didn’t make myself clear enough about the value of winning a chance to host the Olympics, The Onion skewers that pig nicely.
Beware too many metaphors, but what if only a few economic reports flowed like The Onion‘s prose?
“At sun’s crimson dawning, storm grumbles, mounting, ripples of the sky and sea reflected in late trading,” said Lee Woo-hyun, a strategist at Kyobo Securities in Seoul who had warned bankers in 2004 that the American real estate bubble was as artificially inflated and volatile as a gaily painted pig’s bladder played with by dust-covered street urchins. “Now the rain comes, from trees striking leaf and blossom both, uncaring. Not to mention gold will soon crest $950 U.S. an ounce as I grow old without grandsons.”
Still, some traders refuse to be affected by the gloom that hovers over the Eastern markets like mulberry smoke over an autumn hearth, maintaining that dramatic market corrections in an era of increasing globalization are only to be expected.