New York Times threatens to shut Boston Globe

I found it shocking how quickly the newspaper industry has fallen with the ultimatum that the New York Times let out yesterday. I cannot believe how one of the largest newspapers in the country can lose $85 million and still be conducting business as usual. Unfortunately, what that means is there definitely has to be some changes made for the Boston Globe because there is no way that I could see the New York Times continuing to subsidize such a large loss given the state of the economy and the failing industry. Unions are going to have to give up concessions whether they like it or not because that is just about the only way the paper can stay in business. Although I see it as disappointing that people would have to give up pay and lifetime positions, if it is in the best interests of the paper, there really seems to be no other way to get around the situation. People need to value their jobs, but also be preparing for the future and what this should do for the Boston Globe employees is let them know that their job is not guaranteed and unless the advertising revenues start matching the levels of the past, eventually there will the same company as when they started out. Looking towards bettering themselves with new skills and knowledge is important because it is never too late to consider all of your options.