Friday, November 02, 2007

On Writers & Strikes—Mining gold?

In Jonathan Tasini's article, Greed Is Good: How Big Media Wants To Steal From Its Workers, he makes a point that rings true, even if not backed up by cold hard facts:

While the media titans like Murdoch and Iger run around crying poverty, out of one side of their mouths, and an inability to pay writers, they run to Wall Street, investors and media analysts and speak a different tone: they claim, individually, that their company is on the leading edge of new media and can be counted on to continue to capitalize on the explosion in new media uses...and, therefore, the Street, investors and analysts should have great faith in their leadership...and value their stocks accordingly. They sell advertising based on flogging their companies as the leaders in the business. So, in one place they cry "uncertainty"—when it comes to paying writers their fair share—and in another forum they cry, "we are future-looking geniuses cashing in on the Internet gold." Link.

I'd really like to see are the balance sheets of all the Big Media companies. If they're really keeping 99.7% of the the pie, where in the hell is it going? Into an ING savings account to weather this uncertain future they keeping talking about? Into the pockets of the CEOs? (Quoting a Forbes article, Tasini reveals the average 2006 annual income of CEOs at Time Warner, Disney, CBS, and New Corp. is $20 million. That's average.)

So which is it, AMPTP? Are you mining gold or not? I have yet to hear the AMPTP's side of the story. Somebody please help me out here.

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