Profits

Nothing really surprising here, but I was caught simply the juxtaposition of these two stories today:

Profit Declines 31% at Gannett
"Gannett, the country's largest newspaper publisher, said on Friday that its fourth-quarter profit dropped 31 percent because of a decline in broadcasting revenue and weak newspaper ad sales."

Exxon Sets Profit Record: $40.6 Billion Last Year
"By any measure, Exxon Mobil's performance last year was a blowout."

The company's sales, more than $404 billion, exceeded the gross domestic product of 120 countries.
Exxon Mobil earned more than $1,287 of profit for every second of 2007.
Like most oil companies, Exxon benefited from a near doubling of oil prices, as well as higher demand for gasoline last year. Crude oil prices rose from a low of around $50 a barrel in early 2007 to almost $100 by the end of the year -- the biggest jump in oil prices in any one year.

Google to buy New York Times?

Last Thursday's Daily Buzz included a segment titled If Google Bought the NYT, based on this article in realclearmarkets.com. The essence of it is that the Sulzberger family needs a shooter (like Google) if the Times is to survive against the Rupert Murdoch-owned Wall Street Journal.