For some reason, the headline “Why journalists deserve low pay” caught my attention (via Roy Greenslade) and I have read the essay on the topic by Robert Picard.
I think his analysis that the economic value of general news content has diminished because local papers no longer have a distribution monopoly is correct. However, I am not sure about his solution – that such papers should reconfigure themselves as digital providers of specialist information. Read more >>
The financial crisis has at least had one good effect, finally pushing over the top the right of US shareholders to nominate directors to company boards. I am not sure whether that is strictly logical, since there has not been a broad failure of corporate governance – just one on Wall Street – but so be it.
Since I hail from a country where shareholders have more explicit rights than in the US, I have always found the US system of corporate governance hard to grasp. In particular, the notion that investors need either to sue or to mount a public battle to displace directors in order to be heard strikes me as odd. Read more >>