Posted on 01/28/2009 4:02:43 AM PST by governsleastgovernsbest
An op-ed in the New York Times suggests turning the paper into a non-profit. Hey, the gurus of the Gray Lady have already accomplished that, thank you very much!
But seriously–at least I think they were being serious–the authors, two Yale investment officials, propose transforming the Times and other struggling newspapers into “nonprofit, endowed institutions — like colleges and universities.”
Great idea. Just like the rich sons of Eli turn up to root the football team to victory against Harvard–dropping the odd million into Yale’s endowment while they’re at it–so too will the Times’ benefactors head out to Central Park to watch the paper’s softball team take on the NY Post.
There’s just one nagging little detail in the authors’ otherwise brilliant plan that could present something of an obstacle. According to their calculation, in order to throw off the $200 million in annual income required to operate the paper, the endowment required would be . . . $5 billion.
(Excerpt) Read more at finkelblog.com ...
Make your tax-deductible donation to the NYT ping to Today show list.
so, it would be a lot like Pravda under USSR?
I hear there's a guy, can't recall his name exactly, Markoff or Madouf or something like that, cranks out 12% a year.
Invest the endowment with him and they only need $1.5 billion. ;-P
ping
Why didn’t the buggy whip makers think of this?
While the ‘Rats are busy designing ways to Hush Rush, they want to use public money to ensure their House mouthpiece continues.
Which circle of Hell is this?
As long as it’s not my tax money. Let the Libs put up their own....
UH, we already have that: NPR
Oh they didn’t really suggest the ‘endowment’ is to be made by public money !??? Whaaat ?
All endowments I know of have been privately put together as donations to particular schools. So, if someone is CRAZY enough to gift $5B of their own money in order to keep the propaganda machine going, fine.
Not a dime of taxpayer money should go into creating ‘non-profits’. I’m not sure you could squeeze creating companies under the commerce clause either.
What do they care? OPM!
Mission Accomplished
What is this Grandpa?
Its called a newspaper. Its how we used to get our news!
Pray for America, Our Troops and Obama’s Guidance
“As long as it’s not my tax money. Let the Libs put up their own....”
Not to be rude, but when was the last time that the libs put up their own money for anything? They believe in funding things as long as they use someone else’s money. Federal tax dollars fund ACORN, Public Television (DNC-TV), abortion, affirmative action, social services/welfare for illegals. I can see them applying to the National Endowment for the Humanities (http://www.neh.gov/) for NYT money.
Very true.Pinch should try a little pillow talk- Caroline
could you lend me......
If they had, and the Congress of the day had been stupid enough and corrupt enough to establish a buggy whip bailout, we would still be stuck driving horse-and-carriages.
I can hear the chanting.
One constraint on an endowed institution is the prohibition in the same law against trying to “influence legislation” or “participate in any campaign activity for or against political candidates.” While endowed newspapers would need to refrain from endorsing candidates for public office, they would still be free to participate forcefully in the debate over issues of public importance.
In other words: they would still try to “influence legislation” and “participate in any campaign activity for or against political candidates,” only now they would do it even less on the "editorial" pages and even more in "straight news" sections.
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