Business

What I Saw at the Hyperlocal Revolution

Much of this piece, which was intended to be about journalism, is instead about money. Perhaps that’s the ultimate message, as journalists everywhere are discovering. As journalists, we’re nothing if we don’t tell the truth, backed up by solid reporting. But unless someone, somewhere, is bringing money to the table, our political insights or critical acumen or familiarity with the machinations of city hall are mere dinner party—or Facebook—fodder. Without the money, we don’t have jobs. And “citizen journalism” notwithstanding, without journalism jobs, we don’t have journalism.

Ratings Agencies Seek a Dismissal

Moody’s Investors Service Inc., Standard & Poor’s and Fitch Ratings asked a judge today to dismiss a lawsuit filed by two California investors who claim the companies gave inflated ratings to inferior bonds. The companies named the bonds “investment grade” to achieve more sales of their rating services and didn’t downgrade the bonds until Lehman filed for bankruptcy in 2008, plaintiff Ronald Grassi said.

Tower Records up for Sale, 2003

The realization that Tower, which was born in Sacramento and grew to include stores all over the world, is not indestructible has prompted many to reflect on the pivotal role Tower Records has played in area culture – and in pop culture in general. In the ’60s, ’70s and ’80s in particular, Tower defined cool in Sacramento – though some may have seen it as arrogance – and it provided a unique common ground for people of varied tastes and interests. No one is more surprised at Tower’s impact than the man who founded it – Russ Solomon.