The New York Daily News has made the news by cutting half of its reporters and journalists this past week. There has been much of an outcry demonizing the CEO for bad business decisions and for bringing the paper down from its more exalted state. The state of newspapers in general have been declining over the years and the improvements in technology and how information is received have had something to do with that. Mayor of New York, Andrew Cuomo, has offered to bailout the newspaper with state funds, which money would have to be in the millions and millions to pull off. The government should not be a fail safe where private organizations can get funding and bailouts when business decisions go awry or when the public decides to go in a different direction then what the business is selling.
We might not be able to exactly point out who or what is to blame for the collapse of the paper, whether it be external or internal, but we can rest assure ourselves that the government, federal or state, cannot be a supplier of funds to businesses that are struggling. If there were acts that were illegal from an outside force that precipitated the collapse then there could possibly be an argument made, but this is a slippery process. If one business is to be bailed out, and it would probably be because of their size, then why should another one not receive the same treatment? The state of New York is facing its own financial woes and owes around 300 million dollars itself. Where it would get the money to be able to fund this enterprise is beyond me or any sort of rationale?
It is the free market that ultimately decides which companies should stay in business. If their product or service they provide is exceptional in the public eye then that business will be profitable. Businesses come and go and the resources those businesses once used will go to aid another business and therefore will be maximized. It is sad to see people lose their jobs and that is a difficult thing to process, but as more resources are freed up like I said they will be taken up elsewhere. If the government would get involved that not only sets up a bad practice, but it also sets the stage for a government sponsored press. They would have an influence in the news and that would defeat the whole purpose of news, which is to keep the government in check. The government should recognize that the taxpayer’s money is not something that they should be meddling with. They have meddled long enough and we are all worse off for it.