None of us has taken any significant profit, even as the paper has steadily become more profitable. We’ve invested virtually all profits in added equipment and personnel. When we took over, the paper issued 20 paychecks every two weeks; now we write 53, including part-timers.
We are running this paper the way news people think a paper should be operated, steadily improving it journalistically and technically. Our town seems to appreciate what we’re doing, too. Not only are we selling far more papers now, but new advertisers are coming to us steadily. Classified remains our single largest revenue stream. And our reporters tell us they get positive feedback wherever they go.
The more we spend, the more we seem to profit. It’s a model some other owners ought to try.
Not that non-profits and those that emulate them don’t have their own special flavors of stupid, of course, but I’ll take that over the rapacious corporate greed that says 20 percent profits aren’t enough and then blames the Internet for newsroom job cuts.