A number of listeners have asked us to look at what's happening inside our own industry — media. Magazines have been shutting down, newspapers are canceling home delivery and furloughing staff, publications are moving online, radio networks are laying off workers. Which is just the half of it, really.
Today on Planet Money:
-- A newspaper carrier says the print edition he delivers is now too light for him to throw it onto porches properly.
-- Economist Anita McGahan, author of How Industries Evolve, studies what's known as punctuated change. She says the line between shifting and dying is not always apparent, at the time. But the first company to figure out what comes next wins.
Bonus for the Twitter crowd: Follow @themediaisdying.
Download the podcast; or subscribe. Intro music: Billy Joel's "We Didn't Start the Fire." Find us: Twitter/ Facebook/ Flickr.
About today's picture, Michael writes from Minnesota:
It is layoff day here at Seagate Technology.
. . .
Those of us who are left are subjected to a pay cut of at least 10%. I am an engineer who designs computer chips and never in my 20 year career have I been subjected to an outright pay cut.
CNN has more news on this particular layoff/pay cut story.
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