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PatrickforB

(15,126 posts)
Sun Oct 6, 2024, 10:38 AM Oct 2024

Regarding the New York Times, America's 'newspaper of record.' [View all]

Warning: I'm going to be talking about policy!

I cancelled my NYT subscription a couple of months ago due to their 'Biden old, Biden old, Biden old' drumbeat.

Because of the legal doctrine of shareholder primacy, established through a MI Supreme Court ruling back in 1919 against Henry Ford in favor of the Dodge brothers, AND Reagan killing the Fairness Doctrine back in '87, the fiduciary responsibility of executives at these publicly traded 'news' organizations is ONLY to generate shareholder profits, with NOTHING...

I repeat NOTHING requiring them to report the truth...


virtually all of the reporting we get from ABC (Disney), CBS (Paramount), NBC (Comcast), NYT (Ochs-Sulzberger), CNN (Warner Brothers Discovery) is ALWAYS going to be BIASED in such a way as to generate and maximize shareholder PROFITS.

This is why we have a 'horserace' folks. It is better for PROFITS.

This is why Trump is being 'sanewashed'. It is better for PROFITS.

This is why all the lies he and Vance tell are being glossed over. Again better for PROFITS.

And finally, it is why X, Fox and other right-wing 'news' sources keep their audience is a complete bubble of conspiracy theories. Because they can (no Fairness Doctrine) and because it is good for PROFITS.

There are two major PROFIT centers here:
1. Ad revenue based on ratings, and
2. Campaign ads - due to Citizens United, we have THE most EXPENSIVE political campaigns in the world. Billions of dollars.

You want to change that?

One little rule-change in corporate governance - instead of the interests of shareholders being held above everything else, we could require an expansion of the fiduciary responsibility of media executives (and every other corporate officer in a publicly traded company) to consider the interests of workers, consumers (including truth in news reporting), and the environment EQUALLY with the interests of shareholders. A stakeholder approach to corporate governance.

If we had our members of Congress legislate that, as well as making the changes required in the Supreme Court so they are no longer so partisan, and if we ENFORCED this new rule of corporate governance, we would save the republic for years to come.

Oh, and let's not forget legislation that reverses the most recent Supreme Court rulings - Dobbs, the ruling against Chevron, and Citizens United.

Then the billionaire parasites would have to play their 'long game' again to undermine the republic. Heck, with any luck it would take them fifty or sixty years to get us to the stage we're at now - the verge of a fascist dictatorship.

Oh, I know it is wonky. And as an experiment, if you have read this far, please either 'rec' this post or reply. Most people won't, I know because policy is BORING. This is why we've been so thoroughly fucked by Wall Street and the billionaire parasites. You know that, right? Look at Project 2025. BOR-ING!!! But if they put it in place, our republic will be history.
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Thank you EverHopeful Oct 2024 #1
You know, I heard on MSNBC that the Trump campaign admitted they had spent millions on PatrickforB Oct 2024 #6
NYT has an overwhelmingly high percentage of readership by Democrats. Making a profit, requires readership. Silent Type Oct 2024 #2
Yup, my friend thinks the NYT is gospel....... a kennedy Oct 2024 #4
Calling it a horse race would indicate that they would promote the losing side to keep things even cutroot Oct 2024 #3
Yup FHRRK Oct 2024 #33
I find the NYT to be different from what you are saying here. I find nothing outrageous about their reporting or about CTyankee Oct 2024 #5
Ochs-Sulzberge family holds 90% of the voting shares of the NYT Voltaire2 Oct 2024 #7
Money, money and more money. That's the point even with supermajority owned companies. paleotn Oct 2024 #24
So good! Thank you! sarchasm Oct 2024 #8
Sure, if you wish. n/t PatrickforB Oct 2024 #57
Spot on!! Posting on Facebook. h2ebits Oct 2024 #9
See "NY Times finally details Trump's cognitive decline in scathing article" Towlie Oct 2024 #10
And how long did it take the NYT to come around to this point? erronis Oct 2024 #13
No, not at all. Because it was a long time coming, and I'm considering the coverage for the entire year, PatrickforB Oct 2024 #58
Yes, and it only took them nine years. hatrack Oct 2024 #61
You wrapped up the major points very succinctly. Thanks! erronis Oct 2024 #11
SAY IT!!! Montauk6 Oct 2024 #12
Yeah that works temporarily Farmer-Rick Oct 2024 #14
Great idea! Wild blueberry Oct 2024 #15
Great post about policy Felicita Oct 2024 #16
One of the best posts I've read recently. BattleRow Oct 2024 #23
It is also why billionaires buy news organizations. They profit in many other ways than just ratings or clicks/ KPN Oct 2024 #17
More circus than bread nowadays... BattleRow Oct 2024 #20
They sure are toxic waste. Dave Bowman Oct 2024 #18
Great comments DENVERPOPS Oct 2024 #19
After Project 2025.. BattleRow Oct 2024 #21
Good one DENVERPOPS Oct 2024 #40
Oh,YES! And for a slightly off topic..another BattleRow Oct 2024 #41
Absolutely agree Blue Full Moon Oct 2024 #22
Thank you for a great post. You are an excellent teacher. Timeflyer Oct 2024 #25
Most excellent post! Thank you megapuzzler Oct 2024 #26
Kudos to you! I used to read the NYT front to back..not the sports, and loved it. Gave up on them a few yrs back PortTack Oct 2024 #27
This message was self-deleted by its author Dan Oct 2024 #28
Exactly. HappyLarge Oct 2024 #29
Absolutely! And welcome to our little party. paleotn Oct 2024 #31
Fairness Doctrine was just icing. Dodge v. Ford Motor Co. paleotn Oct 2024 #30
"AND Reagan killing the Fairness Doctrine back in '87" It is amazing how much damage Reagan did to the USA Escurumbele Oct 2024 #32
Yes ... add to that the economic realities of the newspaper business FakeNoose Oct 2024 #34
I recall when Seymour Hersh worked for them. BattleRow Oct 2024 #42
He doesn't get much play because he went off the deep end. Embracing conspiracy theories, Putin, tritsofme Oct 2024 #47
We all have our opinions as to when BattleRow Oct 2024 #48
So you think the pro-Putin nonsense, making excuses for Trump is...good journalism? tritsofme Oct 2024 #49
I am unaware of that which you speak BattleRow Oct 2024 #50
There has been lots written about his fall. tritsofme Oct 2024 #51
I certainly will review this. Thank you. BattleRow Oct 2024 #53
I like Maines approach. infullview Oct 2024 #35
You make very good points. But. markodochartaigh Oct 2024 #36
I would say it isn't just the cynicism misanthrope Oct 2024 #45
Like Juvenal said two thousand years ago, markodochartaigh Oct 2024 #46
Sidenote: Fairness doctrine only applied to over-the-air broadcasts. thesquanderer Oct 2024 #37
Granted but talk radio was the most pervasive method misanthrope Oct 2024 #44
Social media in particular is designed to give us more of littlemissmartypants Oct 2024 #38
I cancelled my NYT subscription back in 2015 due to Clinton email coverage LetMyPeopleVote Oct 2024 #39
Saddest of all is that none of this is hidden knowledge misanthrope Oct 2024 #43
I enjoy the Times bif Oct 2024 #52
Dodge v Ford, Just Jerome Oct 2024 #54
100%! n/t PatrickforB Oct 2024 #59
Take the money out of elections and the MSM's motivation and actions become irrelevant. pecosbob Oct 2024 #55
Great post. raccoon Oct 2024 #56
Agree ScubaSteve Oct 2024 #60
I am happy to rec. pandr32 Oct 2024 #62
K&R, great post and I love your idea...one little rule change, and some tweaks to the SC and their c-rational Oct 2024 #63
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