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“In towns and cities... there is no more important institution than the local paper.”
Warren Buffett
The Wall Street Journal is reporting that AOL Inc. Chief (Ignorant) Executive Tim Armstrong is resorting to major cuts at the company’s Patch local news unit in a last-ditch effort to turn it into the profitable enterprise he promised it would be by the end of the year.
Taps are starting to play to the delight of many local print newspaper publishers.
AOL Chief Ignoramus Tim “don’t call me Lance” Armstrong waving bye bye to Steve Kalin his top exec and all Patch sites. Good riddance.