Eugene David
...The One-Minute Pundit

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THE NEWS HACK'S CREED:
I know more than you.
I make lots more money than you.
I'm smarter than you.
I'm sexier than you.
I appear on TV all the time.
I work ten minutes a day.
I rule the universe.
I'm going to live forever.
You are an idiot.

THE NEWS HACK'S CREED, No. 2:
A lie isn't a lie when it tells THE TRUTH.

THE NEWS HACK'S CREED, No. 3:
I've come to realize that the looseness of the journalistic life, the seeming laxity of the newsroom, is an illusion. Yes, there's informality and there's humor, but beneath the surface lies something deadly serious. It is a code. Sometimes the code is not even written down, but it is deeply believed in. And, when violated, it is enforced with tribal ferocity.
--JOHN "OMERTA" CARROLL.

THE NEWS HACK'S CREED, No. 4:
News isn't news when we don't report it.

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Thursday, January 23, 2003

Posted 8:53 PM by Gene

AOL will not magically return to its shareholders' favor with puny asset sales. King Richard must admit that the days of $90 a share are gone forever; that "synergy" is a sham; and that the company and its shareholders would best be served by tripartite break-up: the cable systems, with an Internet stub; the movie, TV and record businesses; and Time Inc. reconstituted with CNN. Big media are antithetical to a democracy, and have been a business failure. Time to swallow hard and divest.

The same with Disney. It too should break up into three parts: the theme-park business, reorganized as a REIT; ESPN as a stand-alone outfit; and the TV and "adult" (ha ha) film businesses. The company should also sell its retail stores and shut down Michael's largely unsuccessful social experiments (restaurants, book publishing, "adult" records).

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