Portfolio Group Publisher: ‘It’s the Job of Your Competitors to Do Everything They Can to Slow You Down’

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Nary a week goes by without some item — brimming with shadenfreude — comes across our radar screen painting a grim picture of chaos at Portfolio magazine. David Carey, the group publisher of Conde Nast Portfolio/Business Media, knows media criticism. At the 2007 Folio: Show luncheon at the Marriot Marquis, Carey, to his credit, gamely returns fire. From Folio:

”Carey said that dealing with the criticism and nay-saying he experienced working with Smart Money and House & Garden prepared him for much of the negative reaction to Portfolio from the competition and bloggers. ‘It’s the job of your competitors to do everything they can to slow you down,’ Carey said. ‘Your job is to use the flexibility of your new product to outthink the legacy competition.”’

Carey also noted that we are watching the newspaper industry ”write its own obituary” and that magazines should look to that to avoid those same mistakes.