Some Industries Will Never Bounce Back, But Not Media
Hooray! The New York Times reported on Saturday about the industries that will probably not survive the recession, at least in the forms that we know them. Among them: the auto industry, killed by weak sales (the piece notes that auto sales have dropped to nine million annually from 17 million in 2007; “even if sales increase considerably, that is likely to leave a lot of unneeded auto factories”); the financial industry, which is still trying to figure out how to get out of the mess it made; retail, which can’t sell American consumers shiny gadgets on credit now that we don’t have any credit; and–not journalism, PR, publishing, or advertising.
Maybe the Times is just sick of reporting on the doom and gloom of its own industry, or maybe they’re of the opinion that people are always going to need us.
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