I have been writing about the scandals roiling the newspaper business for some months now. Circulation fraud, which means that advertisers have been charged for readers not seeing their advertisements, is rampant. This is theft.

Today's New York Post carries shocking allegations of circulation fraud on the part of its compettitor, The New York Daily News.

Needless to say, the press which gets indignant at the likes of Enron doesn't have a lot to say about their own dirt. The sad fact is that daily newspapers are a dying industry, thoroughly outmoded by the rise of the internet. It is desperation which causes these scandals to be so widespread.

Word has reached me of other, even bigger newspaper scandals which have not yet become public. Stay tuned. The degree and extent of corruption in the newspaper industry is worse than almost anyone realizes. This is an industry in crisis.

Thomas Lifson   10 26 04