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Talk about high executive turnover: Since 2005, the Los Angeles Times has had three different top editors. James O’Shea, who took the top job 14 months ago, just became the third editor of the respected paper to depart after a battle over newsroom budgets.
The Wall Street Journal’s story on O’Shea’s departure said yesterday that O’Shea wanted to look for ways to grow revenue in different sections of the paper, noting a new fashion section that brought in revenues, rather than making $7 million in cuts. Newspapers are clearly having extraordinary trouble these days, and facing tough budgets is something they’ve gotten to know all too well. But O’Shea’s stance is an interesting one to consider now that it seems many industries will be facing tough times ahead. When are across-the-board cuts the right answer during tough times? Who will invest for growth while everyone else is down?
Innovation editor Bruce Nussbaum, by the way, is blogging from Davos. He wrote yesterday that the power of collaboration was the official theme of the World Economic Forum. “The unofficial theme, however will be recession and what to do to stave it off. Is it too late?”
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