UPDATE/CORRECTION: While I strive to be as accurate as possible in this blog, the second paragraph of this post contained an inaccuracy, which I have since rectified.
I have to say that my heart rejoiced yesterday when I saw the news that Torstar, the parent company of The Toronto Star, has increased its quarterly earnings over the year by about 100%, an unequivocal confirmation that quality, in-depth journalism for the social good can still very much be a profitable enterprise in the 21st century.
I also have to admit to an almost equal delight in the news I received from my son that the Globe and Mail, by contrast, is not faring so well. The Earnings Per Share (EPS) profit that the Globe and Mail contributes to Bell Canada, its parent company, is off by 0.23.
I interpret this profit reduction as an indictment of the direction in which John Stackhouse has taken the paper since assuming the mantle of editor-in-chief. It is a direction that has seen such betrayals as unequivocal editorial endorsements of the Harper regime, an inhouse apologist for all things Harper named John Ibbitson, and the continued employment of unoriginal thinkers like Neil Reynolds and Margaret Wente who, one suspects, would have great difficulty recognizing an original thought, should one occur to them, an admittedly unlikely event.
The one group for whom I feel sympathy at the Globe is the rank and file, who are now being asked to take unpaid leaves this summer in an attempt to temporarily reduce costs.
Oh, and I almost forgot. In either a very desperate grasping at straws for financial salvation or a very public display of delusions of grandeur, The Globe announced today that it is instituting a paywall. If you read the article, I strongly encourage you to also peruse some of the readers' comments that follow, comments of such withering contempt that one might infer that this 'Hail Mary pass' from the Globe is too desperate by anyone's standards.