Wall Street sees more problems in newspapers' future

Today's Wall Street Journal weighs in with an investors' view of the newspaper industry, and it isn't very good. The problem, according to the story, is that newspapers have cut almost all the costs they can so they need to show revenue increases and advertising isn't recovering. It's a grim picture, viewed this way. (Yes, it's grim any way, but see Kathleen Parker's column on the strength of newspaper readership to see the glass half-full, not half-empty as is Wall Street's view).