Rewarding failure in print publishing

I know this blog is about magazines, not newspapers, but this short article by Robert Picard about management failure in newspaper companies is so well worth reading – and so applicable to magazine publishing companies – that I have to recommend it here.

Sample quote:

The bonus debacle is yet another indication that the bankruptcies were created in the board rooms and corporate offices, not by the economic downturn. Poor corporate and management decisions are their root problem.