The Post, according to its own announcement of its sale for $250 million, has suffered a 44 percent drop in operating revenue over the past six years. Like other once-prosperous big-city dailies, it has been wounded by the defection of readers and advertisers to Internet competitors. No major U.S. newspaper now claims to have a business model that would guarantee its survival, let alone its success long-term.
But the “long-term” is where Bezos’ mind naturally likes to go, says Brad Stone, senior technology writer for Bloomberg Businessweek. Stone’s forthcoming book “The Everything Store: Jeff Bezos and the Age of Amazon” will be out this October
I have been a fan of Amazon since its inception in 1994. Jeff Bezos, who founded the company, was unlike almost everyone in the corporate world. The Wall Street Journal was constantly lambasting him because he seemed totally unconcerned the Amazon was not making a profit for several years. But as this article above states Bezos is one of those few corporate leaders who focuses on the long term.
Instead of making a quick and large profit Amazon he focused on doing things right for the customer and growth. I don’t believe anyone in the business world is as customer focused as Amazon. They simply do it right. They almost always exceed my expectations.
Most CEOs around today are focused on their future options. That is they want to show a big profit early, collect their stock options, and then get out with the MEGA-bucks golden parachutes.
There are a few fundamental reasons that American industry is losing it hold on the corporate world. One is the lack of long term thinking. Another is that the larger companies are stuck paying for an ever increasing medical insurance for their employees where their international competitors are not holding that burden. We are about the only country in the world that requires their businesses to take on that load. For the most part we learned our lessons about producing quality products in the 1970s and 80s but many are now falling back into low quality by accepting some Chinese goods made at extremely low labor costs and very thin quality.
When our companies finally start thinking long term and we recognize that tax payer funded health care should be a right not an entitlement to an ever increasing few, we may just find our way back to the top of the heap.
I’m not sure how Mr. Bezos is thinking that the Washington Post buy is good for the long term? Maybe he is looking more that their talented reporter pool instead of the paper product they put out on a daily basis. After all, it takes grunts-on–the-ground to come up with all the stories and info in the on-line world.