Kevin: "My answer to the beat reporter was that she should reassess what she does to figure out how she can best serve the audience. It could be that writing two or three stories a day is the answer. Or blogging may provide a way to develop a closer relationship with that audience. The digital revolution is less about adding multimedia tricks than it is about reinventing the role of the journalist."

Kevin: "The New York Times is the latest to report Q2 profits mainly due to cost cutting. And like Gannett, McClatchy and Media General, and Journal Communications executives with the New York Times said the chilling ad revenue losses are starting to subside a teeny-tiny bit."

Kevin: "Certainly, U.S. newspapers are in a mature industry with low growth potential once recovery from the recession occurs. Most companies will performance reasonably well after the recovery, but certainly some companies will have difficulties because of imprudent strategies and choices. Nevertheless, the industry as a whole will still remain in place producing revenue for many years to come."