Regarding the New York Times, America's 'newspaper of record.'

[PatrickforB]

Warning: I'm going to be talking about policy!

I cancelled my NYT subscription a couple of months ago due to their 'Biden old, Biden old, Biden old' drumbeat.

Because of the legal doctrine of shareholder primacy, established through a MI Supreme Court ruling back in 1919 against Henry Ford in favor of the Dodge brothers, AND Reagan killing the Fairness Doctrine back in '87, the fiduciary responsibility of executives at these publicly traded 'news' organizations is ONLY to generate shareholder profits, with NOTHING...

I repeat NOTHING requiring them to report the truth...

virtually all of the reporting we get from ABC (Disney), CBS (Paramount), NBC (Comcast), NYT (Ochs-Sulzberger), CNN (Warner Brothers Discovery) is ALWAYS going to be BIASED in such a way as to generate and maximize shareholder PROFITS.

This is why we have a 'horserace' folks. It is better for PROFITS.

This is why Trump is being 'sanewashed'. It is better for PROFITS.

This is why all the lies he and Vance tell are being glossed over. Again better for PROFITS.

And finally, it is why X, Fox and other right-wing 'news' sources keep their audience is a complete bubble of conspiracy theories. Because they can (no Fairness Doctrine) and because it is good for PROFITS.

There are two major PROFIT centers here:
1. Ad revenue based on ratings, and
2. Campaign ads - due to Citizens United, we have THE most EXPENSIVE political campaigns in the world. Billions of dollars.

You want to change that?

One little rule-change in corporate governance - instead of the interests of shareholders being held above everything else, we could require an expansion of the fiduciary responsibility of media executives (and every other corporate officer in a publicly traded company) to consider the interests of workers, consumers (including truth in news reporting), and the environment EQUALLY with the interests of shareholders. A stakeholder approach to corporate governance.

If we had our members of Congress legislate that, as well as making the changes required in the Supreme Court so they are no longer so partisan, and if we ENFORCED this new rule of corporate governance, we would save the republic for years to come.

Oh, and let's not forget legislation that reverses the most recent Supreme Court rulings - Dobbs, the ruling against Chevron, and Citizens United.

Then the billionaire parasites would have to play their 'long game' again to undermine the republic. Heck, with any luck it would take them fifty or sixty years to get us to the stage we're at now - the verge of a fascist dictatorship.

Oh, I know it is wonky. And as an experiment, if you have read this far, please either 'rec' this post or reply. Most people won't, I know because policy is BORING. This is why we've been so thoroughly fucked by Wall Street and the billionaire parasites. You know that, right? Look at Project 2025. BOR-ING!!! But if they put it in place, our republic will be history.

[EverHopeful]

1. Thank you

An excellent explanation and good advice about the work we need to undertake.

I've been trying to find a way to explain why we saw, day in and day out, hour after hour "Coverage" of President Biden's mental acuity when that threat to our republic struggles to form complete words, let alone complete sentences or coherent statements.

Was bordering on thinking we were watching an authoritarian coup but, of course, it's the old "Follow the Money" explanation.

[PatrickforB]

6. You know, I heard on MSNBC that the Trump campaign admitted they had spent millions on

casting this doubt on Biden's mental acuity and age. But again, is it the truth? Probably...

[Silent Type]

2. NYT has an overwhelmingly high percentage of readership by Democrats. Making a profit, requires readership.

[a kennedy]

4. Yup, my friend thinks the NYT is gospel.......

very strong Democrat, registers folks to vote and will be working at her polling site.

[cutroot]

3. Calling it a horse race would indicate that they would promote the losing side to keep things even

We know that is not true. They would continue to pound the Democrats either way. Let’s call it what it is…. Right wing fish wrap.

[FHRRK]

33. Yup

The horse race is a common theme.

I am opened minded though, so anyone who can provide a single instance of National Media propping up a Dem, I will reconsider.

[CTyankee]

5. I find the NYT to be different from what you are saying here. I find nothing outrageous about their reporting or about

their editorials and political writers. I agree with them more than I disagree. When I read some columns I disagree with I find that LTTE often agree with me. There are differences of opinion, of course, but that is going to be life.

On balance, I agree with, not disagree with, most of what editorials and column writers express. I expect there to be differences of opinion, though. By contrast, the NY Post, once a fine newspaper, has over the years, become now simply unreadable.

[Voltaire2]

7. Ochs-Sulzberge family holds 90% of the voting shares of the NYT

The company is pretty much immune to shareholder opinions or lawsuits, and should be viewed as a private company. They have no excuse other than 'this is what we want to do'.

[paleotn]

24. Money, money and more money. That's the point even with supermajority owned companies.

Today, online ad revenue drives everything. Use to be, the kid selling subscriptions door to door generated significant newspaper revenue, plus the local grocery ads in the back, the classifieds added some, etc. Not anymore. In this cyber world, awash with endless things to clamp our eyeballs on, generating ad rev., the only way to survive is to get eyeballs and the only way to do that is gin up controversy. That's what's driving the NYT editorial board. Today, controversy and clickbait is the only way to survive. Not an excuse, mind you, it's just the fucked up world we live in.

[sarchasm]

8. So good! Thank you!

Can I share this in quotes?

[PatrickforB]

57. Sure, if you wish. n/t

[h2ebits]

9. Spot on!! Posting on Facebook.

Spot on and I'm posting this on Facebook. Thank you!

[Towlie]

10. See "NY Times finally details Trump's cognitive decline in scathing article"

You're disparaging the credibility of NYT while DU is also offering NY Times finally details Trump's cognitive decline in scathing article

NYT: Trump’s Speeches, Increasingly Angry and Rambling, Reignite the Question of Age

It's a rather awkward situation, don't you think?

[erronis]

13. And how long did it take the NYT to come around to this point?

They've been very anti-Biden for years. You need to look at more than just a couple of recent articles and DU postings.

[PatrickforB]

58. No, not at all. Because it was a long time coming, and I'm considering the coverage for the entire year,

at least until I pulled the plug shortly before Biden stepped down.

And in fact, if you look at the thread you are citing, I had nearly this exact post on there. Too little, too late.

I just decided the bit about imposing a new Fairness Doctrine for this century by changing the rules of corporate governance to a stakeholder approach rather than one of shareholder primacy merited its one OP.

[hatrack]

61. Yes, and it only took them nine years.

.

[erronis]

11. You wrapped up the major points very succinctly. Thanks!

[Montauk6]

12. SAY IT!!!

[Farmer-Rick]

14. Yeah that works temporarily

Like you said, "Then the billionaire parasites would have to play their 'long game' again to undermine the republic. Heck, with any luck it would take them fifty or sixty years to get us to the stage we're at now - the verge of a fascist dictatorship."

So you know it's a temporary fix. A permanent fix would be NOT allowing inheritance at all or so severely taxing it that the filthy-rich won't be able to live off of it forever.

Inheritance of wealth comes with inheritance of privilege, jobs, political control. And then you're back to feudalism.

[Wild blueberry]

15. Great idea!

Would add the power to disincorporate businesses that violate the common good.
Since we currently cannot hold corporations (falsely held as "persons&quot liable for murder or other crimes, we could at least have the power to disincorporate their corporate charters so they can no longer do business.

[Felicita]

16. Great post about policy

Your post was not boring at all! I am saving it for future reference. I just wrote a letter to the NY Times scolding them for their "normalization" of the mentally deranged 34x felon/sexual offender/fraudster/pathological liar candidate during their discussion of foreign policy of the two candidates, and how dangerous that is.
Keep up the progressive rhetoric, PatrickforB.

[BattleRow]

23. One of the best posts I've read recently.

MANY thanks!

[KPN]

17. It is also why billionaires buy news organizations. They profit in many other ways than just ratings or clicks/

hits/subscribers.

But excellent post Patrick. Corporations have been promoting their even-handedness in looking out for the good of workers and the communities they and their workers reside in forever, and now even meet annually to do so at a global level. They know if they can buy some of the people and fool enough of the others with gimmicks like trickle-down theory, cheap flat panel TVs that flow from the wonderful free-trade agreements, and their stark misery and evils of "socialism" rendition, they can perpetuate their game indefinitely.

[BattleRow]

20. More circus than bread nowadays...

[Dave Bowman]

18. They sure are toxic waste.

[DENVERPOPS]

19. Great comments

In my opinion, the major kiss of Death was the USSC ruling on "Citizens United" in 2010, and, like you mentioned a few others.

"Then the billionaire parasites would have to play their 'long game' again to undermine the republic. Heck, with any luck it would take them fifty or sixty years to get us to the stage we're at now - the verge of a fascist dictatorship"

They HAVE BEEN playing their long game for the past 45+ years, which has put us a hair away from a Corporate Fascist Dictatorship.

And I guarantee you, these "New" Republican Politicians, the Republican owned/operated mass media, the UBER rich Republican Oligarchs, the Red States, the 70+million Trumphumping voters, the massive tampering of election results, the dominant force of Corporations, the interference by NKorea, Putin/Russia, China, and Iran in this election and past elections, and everything else,.........
.
These corrupters, this time around, WILL STOP AT NOTHING.

Katie Bar The Door

I have to say, as I have said many times before, the perfect title for a book about the past 45+ years would be:

WHILE THE NATION SLEPT

[BattleRow]

21. After Project 2025..

While the Nation Wept.

[DENVERPOPS]

40. Good one

and don't forget their PNAC..........which I believe foreshadowed their intentionally ignoring all the warnings of 9/11.......

[BattleRow]

41. Oh,YES! And for a slightly off topic..another

blast from the past (allegedly) worth review..Operation Mockingbird.

Veddy interesting..

[Blue Full Moon]

22. Absolutely agree

[Timeflyer]

25. Thank you for a great post. You are an excellent teacher.

[megapuzzler]

26. Most excellent post! Thank you

Always wonderful to see potential solutions to our complaints.

[PortTack]

27. Kudos to you! I used to read the NYT front to back..not the sports, and loved it. Gave up on them a few yrs back

I hope they continue to lose support for their continued “editorial reporting.” Which…is not the news!

[HappyLarge]

29. Exactly.

And this is why down ticket races are important. Without a functioning legislative branch, everything is fucked and ripe for authoritarianism.

[paleotn]

31. Absolutely! And welcome to our little party.

[paleotn]

30. Fairness Doctrine was just icing. Dodge v. Ford Motor Co.

fucked things up in vastly more ways. Giving us directly or indirectly.....nicotine isn't addictive, humans can't affect the climate, skip the safety checks - just get the damn planes built, just dump it in the river - shareholders don't drink the local water....and on and on. It opened the door for modern, shareholder primacy to become the rule which has killed innumerable people and caused unimaginable suffering.

As for elections nearly everywhere else in the democratized world, they're quick and rely heavily on public funding. Not dark money from the likes of Elmo, Darth Bezos and "I wish I was a real boy!" Zuckerberg.

[Escurumbele]

32. "AND Reagan killing the Fairness Doctrine back in '87" It is amazing how much damage Reagan did to the USA

And they talk to him as if he was a great president...He is the reason so much is still going wrong in the USA.

It is easy to destroy, very difficult to build back, and that is why it feels like we move one step forward and two back constantly.

The real "Economic Cycle" (excuse republicans always use to justify their failures with the economy every time they are in power):
1. republicans in power...Economy suffers, the country goes on high deficit and debt.
2. Democrats in power...They fix the destruction republicans made on the economy, and more.
3. republicans in power...Economy suffers, the country goes on high deficit and debt.
4. Democrats in power...They fix the destruction republicans made on the economy, and more.
5. etc., etc., etc.

Why can't most people see this?

[FakeNoose]

34. Yes ... add to that the economic realities of the newspaper business

It costs money to print ink on paper. They have to pay salaries, they have to own printing presses and pay for electricity to run them, they buy supplies such as paper, ink, etc. A lot of money goes into printing those rolls of newsprint, whether people buy the papers or not. Generally when people DO buy the newspapers, it's to read "yesterday's news" because they already saw it all on TV the night before. It's difficult and cut-throat for these newspapers to stay in business and turn a profit.

On the other hand, I do believe that professional journalists who went to school and earned a journalism degree - many of them - do have standards for truthful, responsible reporting even if their employers and managers don't. We should recognize and reward those professionals who are trying to do their jobs responsibly, and hopefully share that recognition here on DU.

[BattleRow]

42. I recall when Seymour Hersh worked for them.

Now THAT is an investigative journalist..still doing his thing,but doesn't get a lot of play in media,sadly.

[tritsofme]

47. He doesn't get much play because he went off the deep end. Embracing conspiracy theories, Putin,

and even making excuses for Trump.

He should have retired a decade ago.

[BattleRow]

48. We all have our opinions as to when

people have exceeded their expiration dates.

Perhaps many of us should check our own,don't you agree?

[tritsofme]

49. So you think the pro-Putin nonsense, making excuses for Trump is...good journalism?

Interesting.

[BattleRow]

50. I am unaware of that which you speak

perhaps you could provide links,which I would appreciate greatly.
Thank you.

[tritsofme]

51. There has been lots written about his fall.

This is a good one, google will find you plenty.

https://jeremyfassler.medium.com/the-sad-downfall-of-seymour-hersh-4397459dba31

[BattleRow]

53. I certainly will review this. Thank you.

[infullview]

35. I like Maines approach.

Cap the total amount that can be contributed to the super pac to 5k from any corporation and show how unlimited funding has had quid pro quo consequences. It will take time as a court challenge will have to be made before it can be sent to SCOTUS.

[markodochartaigh]

36. You make very good points. But.

I think that the sine qua non of a well-functioning democracy is an educated and engaged electorate. Without this I think that any other measures are only half measures that treat symptoms, but not the disease. I think that fashioned and apathy are the Achilles' heels of democracy. In the US it is fashionable to be ignorant of politics and disengaged from the political process. It isn't cynicism. One can be completely convinced that the majority of politicians are motivated by their own interests and the interests of their donors and still believe that that is exactly the reason that we must work even harder to hold the politicians to account in working for the public interest.
In the US a negative and unproductive cynicism holds sway. This cynicism has a lazy form which dictates that because either "both sides are the same" or "nothing that one person does has any effect" the individual is justified in disengaging from the political process. This lazy form is the only form available to the vast majority of the population. And there is an active form of this cynicism practiced by our oiligarchs in which politicians and judges are bought like prize hogs at the state fair.
I think that only the education and subsequent engagement of the electorate will be effective in remedying what is wrong with our democracy. I think that everything else is taking pain medicine for cancer. Important steps, but without treating the disease itself, ineffective.

[misanthrope]

45. I would say it isn't just the cynicism

it is the accompanying complacency that creates what you describe. Don't forget that too much cynicism, or all the "wrong kind" at least, will create a distrust in the surrounding system which could then lead to citizens questioning consumerism itself. Those who turn the marketing wheels in America aren't going to stand for that, if they have any say so. They want citizens who are content to think, "Screw it, then. My only option is make myself comfortable."

[markodochartaigh]

46. Like Juvenal said two thousand years ago,

"Already long ago, from when we sold our vote to no man, the People have abdicated our duties; for the People who once upon a time handed out military command, high civil office, legions — everything, now restrains itself and anxiously hopes for just two things: bread and circuses."

[thesquanderer]

37. Sidenote: Fairness doctrine only applied to over-the-air broadcasts.

It never applied to any other media, so even if it had not been done away with, it would not apply to the NY Times, Fox News, X, etc., to use your examples.

[misanthrope]

44. Granted but talk radio was the most pervasive method

used to disseminate this propaganda.

[littlemissmartypants]

38. Social media in particular is designed to give us more of

What we want. We're slaves to corporate media algorithms.

Folks say that they're worried about AI. Too late, fellow time travelers. AI has had us wrapped around its virtual pinkie for years.

Thanks for the post, PatrickforB. ❤️

[LetMyPeopleVote]

39. I cancelled my NYT subscription back in 2015 due to Clinton email coverage

I remember the attacks on President Biden's age by the NYT

Link to tweet

[misanthrope]

43. Saddest of all is that none of this is hidden knowledge

or requires special insight. I saw it as a young man 40 years ago, yet recall how frustrated I was when other college students couldn't connect the dots.

[bif]

52. I enjoy the Times

Been a subscriber of the Sunday edition for years.

[Just Jerome]

54. Dodge v Ford,

Buckley v Valeo, FNB Boston v Belotti, Citizens United, McCutcheon, ALL OF THEM GOTTA GO!!!!!!

[PatrickforB]

59. 100%! n/t

[pecosbob]

55. Take the money out of elections and the MSM's motivation and actions become irrelevant.

Democracy cannot function when oligarchs make the rules.
Simple solution...

1. Outlaw political contributions.
2. Public financing for elections.

[raccoon]

56. Great post.

[ScubaSteve]

60. Agree

Fuck the NYT...Citizens United has destroyed everything politically, as money corrupts absolutely.

It must be overturned.

[pandr32]

62. I am happy to rec.

[c-rational]

63. K&R, great post and I love your idea...one little rule change, and some tweaks to the SC and their

abhorrent rulings you cite.