Media news 1: Liberal radio’s “bad jokes and worse taste”

May 13, 2004

CONTENTS

1. "[America's new] Liberal radio is airing bad jokes and worse taste" (New York Daily News, May 12, 2004)
2. "BBC considers ombudsman following criticisms" (Financial Times, May 10 2004)
3. "Clinton working 'around the clock' to get memoirs done" (AP, May 3, 2004)
4. "Tom Brokaw signs 10-year deal with NBC News" (Reuters, May 12, 2004)
5. "BBC introduces flexible TV with online trial" (The Independent (UK) May 3, 2004)
6. "Work to start soon on New York Times new flagship building" (New York Times, May 13, 2004)
7. "New York Sun looking for $40m" (New York Observer, May 12, 2004)


[Note by Tom Gross]

Because there are a very large number of journalists on this list, and the list concerns not only Middle-Eastern and related politics, but the way the media works, I am today starting an occasional series of dispatches dealing with developments in the news media in general.

While some items will pertain directly to Mideast issues, others are for background only and at most have only indirect consequences for reporting on the Middle East. Reporters, producers, columnists and opinion editors on this list come from over 35 countries, but stories will generally concentrate on the US and Middle Eastern media.

Below are summaries of the articles, and then the stories in full.

 

SUMMARIES

LIBERAL RADIO NOT SO TOLERANT

"Liberal radio is airing bad jokes and worse taste" (By Michael Goodwin, New York Daily News, May 12, 2004). The United States "is on the slippery slope to theocratic fascism." "The Catholic Church has been secretly encouraging oral sex for years." Defense Secretary Donald Rumsfeld "ought to be tortured." President Bush should be taken out and shot. Those are a few nutso nuggets from the hosts of Air America Radio, which calls itself the new liberal voice... Take one host's linking the talk of "pulling out" the troops [from Iraq] with the claim that "that's what the Catholic Church says about premarital sex." Ha, Ha... The signing of comedian and best-selling author Al Franken gave Air America a liberal drawing card. But if his three-hour show on Monday was typical, he could sink the ship instead of saving it... The church was a day-long obsession, as were comments on Rush Limbaugh. He is an "awful man," "a pig" and "a Nazi."... GM's manager of marketing communications, said yesterday that: "GM will [no longer] advertise on any Air America affiliates."

BBC OMBUDSMAN

"BBC considers ombudsman following criticisms" (Financial Times, May 10 2004). The BBC is considering appointing a "controller of complaints" or ombudsman to implement a new complaints regime following criticism of the corporation's editorial processes in the Hutton report [over its Iraq coverage]. The BBC board of governors will decide next month whether to appoint a senior executive to oversee an independent department handling complaints about output from the publicly-funded broadcaster.

[Tom Gross adds: This story should be read in conjunction with items about BBC reporting contained in several previous dispatches, the latest of which was "BBC Governors admit program last year was biased against Israel," contained in the dispatch titled "Schwarzenegger, Russell Crowe, Colin Powell, Robert Fisk, Mussolini, others" (April 30, 2004)]

BILL CLINTON'S MEMOIRS

"Clinton working 'around the clock' to get memoirs done" (Associated Press, May 3, 2004). Former President Clinton's much-anticipated book, "My Life," will settle some scores, starting with the "supine" press, according to a report in the June issue of Vanity Fair. "He feels severely misinterpreted by the media," an unnamed author friend told the magazine. "The memoirs are an opportunity to set a lot of things straight." Booksellers expect huge sales for "My Life," for which Clinton received a reported $10 million to $12 million advance. The book is due out in late June... the book will include few mea culpas about Clinton's role in the Monica Lewinsky scandal or other matters, Vanity Fair said... After his failed attempt to promote the presidential candidacy of fellow Arkansan Wesley Clark, he has become a weekly phone pal of Sen. John Kerry, the presumptive nominee, the magazine reported. [Tom Gross adds: Clinton is also expected to write about Israel and the Palestinians.]

ANOTHER 10 YEARS OF TOM BROKAW

"Tom Brokaw signs 10-year deal with NBC News" (Reuters, May 12, 2004). Veteran TV journalist Tom Brokaw, stepping down as anchor of the "NBC Nightly News" in December, has signed a 10-year contract keeping him with the network as a documentary producer and host through 2014. In addition to his documentary work, Brokaw, 64, will contribute to NBC's coverage of major news events as an analyst, the network said Wednesday... Last month, Brokaw announced that he would preside over NBC's evening newscast for the last time on Dec. 1, to be replaced as anchor and managing editor by Brian Williams... Some analysts predict that NBC could lose ratings, at least in the short term, after Williams takes over, allowing No. 2 ABC's "World News Tonight" with Peter Jennings to climb past NBC to the top.

BBC INTRODUCES FLEXIBLE TV WITH ONLINE TRIAL

"BBC introduces flexible TV with online trial" (The Independent (UK), May 3, 2004). "The future of television is almost upon us: the day when we spend our train or bus journey to work catching up on the shows we missed the night, or even several days, before. Later this month, the BBC will launch a pilot project that could lead to all television programmes being made available on the internet. Viewers will be able to scan an online guide and download any show. Programmes would be viewed on a computer screen or could be burned to a DVD and watched on a television set. Alternatively, programmes could be downloaded to a Personal Digital Assistant (PDA), a hand-held computer that is becoming increasingly popular in Britain and sells from about 70.

"... Mr Highfield said the quality of the programmes will be so high that the experience of watching a show on a PDA will be similar to viewing an in-flight film on screens in the backs of seats on passenger aircraft... By launching iMP, the BBC hopes to avoid being left at the mercy of a software giant such as Microsoft, which could try to control the gateway to online television."

NEW YORK TIMES NEW FLAGSHIP BUILDING

"Construction of Times Building Is Scheduled to Start in Summer" (New York Times, May 13, 2004). "The New York Times Company and its partner plan to begin construction this summer of a long-awaited 52-story skyscraper at Eighth Avenue and 40th Street, where workers are now dismantling the vacant buildings on a two-acre site. The Times and its partner, Forest City Ratner Companies, have tentatively scheduled a groundbreaking ceremony for late June on what will be an $850 million tower, the newspaper's third home in the Times Square neighborhood over the last century... Under the partnership, The Times has a 58 percent stake in the project and will occupy 825,000 square feet of the 1.5 million-square-foot tower... Under the deal with the state, The Times also got $26.1 million in tax breaks."

NEW YORK SUN LOOKING FOR $40 M

"Refinancing Sun Begins Hondling New $40 Million" (New York Observer, May 12, 2004). "Last month, The New York Sun celebrated its second anniversary. And the toddler daily broadsheet knows just what it wants for its birthday: $40 million. Mr. Lipsky and his companions are seeking ambitious, if not fearless, investors. Fly-by-night types hoping to cash in on the daily-newspaper bubble need not apply. The memo explains that "no Member may transfer Membership Units without the prior written consent of a majority of the Managing Members" and that "[n]o Member may withdraw from the Company without the consent of a majority of the Managing Members." In exchange for that commitment, investors will get a piece of a newspaper that lost $12.8 million last year, according to the memo.

"But they will also get the opportunity to express their faith in the newspaper's self-identified market niche: "a high quality newspaper on the center right." A helpful matrix divides up the New York dailies to show The Sun in its own cell: next-door to The New York Times (Quality, Left-of-Center) and just upstairs from the New York Post (Popular, Right-of-Center)."

 



FULL STORIES

FOUL AIR AMERICA

Foul Air America
Michael Goodwin: Liberal radio is airing bad jokes and worse taste.
New York Daily News
May 12, 2004

The United States "is on the slippery slope to theocratic fascism." "The Catholic Church has been secretly encouraging oral sex for years."

Defense Secretary Donald Rumsfeld "ought to be tortured." President Bush should be taken out and shot.

Those are a few nutso nuggets from the hosts of Air America Radio, which calls itself the new liberal voice. The fledgling network is carried in New York on WLIB, 1190 AM. With the Iraq torture scandal everywhere, I tuned in, expecting to hear sober policy analysis mixed with glee over President Bush's political pickle.

Instead, I got 10 hours of rancid venom directed at the President, Rumsfeld, Rush Limbaugh, the Catholic Church and anyone else the hosts felt like slamming. If you're a card-carrying lib who likes crude sex jokes and a cartoonish echo chamber, Air America is for you.

Take one host's linking the talk of "pulling out" the troops with the claim that "that's what the Catholic Church says about premarital sex." Ha, ha.

The network aims to give Dems a media organization to counter Limbaugh and others on the right who dominate talk radio. (What, National Public Radio and The New York Times aren't enough?)

The signing of comedian and best-selling author Al Franken gave Air America a liberal drawing card. But if his three-hour show on Monday was typical, he could sink the ship instead of saving it.

Two attempts at humor were offensive. In his "oy, oy show," set to Israeli music, a sidekick reads news reports - in this case, the murder of the Russian-backed president of Chechnya. Franken's role is to pipe up with a lighthearted "oy, oy, oy." Yep, nothing tickles the ribs like assassination.

Franken also imitated a priest giving Communion, saying "Body of Christ" when an imagined pedophile priest was in line but "not for you" when pro-choice politicians came up.

The church was a day-long obsession, as was Limbaugh. He is an "awful man," "a pig" and "a Nazi."

Color me confused. If Franken & Co. hate the pill-popping Limbaugh so much, why imitate his tarpit tone? Sounds like Limbaugh has simply driven them nuts.

Missing was the tension that comes from honest debate. Only Franken had guests voicing even slight distance from the party line, which is that John Kerry is perfect except he should attack Bush more.

The queen of venom, Randi Rhodes, followed Franken in the host slot. Her imitation of a cracker military type telling a soldier to "insert this fluorescent light bulb into that man's buttocks" was revolting. She compared U.S. prisons in Iraq to the "Nazi gulag" and said, "The day I say thank you to Rumsfeld is the same day I'll say thank you to the 12 people who raped me."

Rock bottom came when she compared Bush and his family to the Corleones in the "Godfather" saga. "Like Fredo, somebody ought to take him out fishing and phuw," she said, imitating the sound of gunfire.

During a day of torture by radio, I heard ads for Hewlett-Packard, Greyhound and, especially, General Motors. I asked GM why it appeared in such shows.

Ryndee Carney, GM's manager of marketing communications, said the ads were wrongly picked up from an earlier deal with WLIB. She said the station was ordered to "cease and desist" yesterday, and added: "GM will not advertise on any Air America affiliates."

 

BBC CONSIDERS OMBUDSMAN FOLLOWING CRITICISMS

BBC considers ombudsman following criticisms
By Tim Burt, Media Editor
Financial Times
May 10 2004

The BBC is considering appointing a "controller of complaints" or ombudsman to implement a new complaints regime following criticism of the corporation's editorial processes in the Hutton report.

The BBC board of governors will decide next month whether to appoint a senior executive to oversee an independent department handling complaints about output from the publicly-funded broadcaster.

BBC executives warned of "significant changes" in the handling of complaints, even though an internal disciplinary inquiry yesterday cleared several editors of wrong-doing over last year's controversial report on Radio 4's Today programme suggesting intelligence on Iraq had been exaggerated.

Lord Hutton criticised the BBC for editorial lapses and management failures in his report into the death of David Kelly, the government scientist who committed suicide after being named as the source for reports.

But an internal investigation effectively dismissed some of the judge's findings by deciding that the report by Andrew Gilligan, former defence correspondent, had been properly prepared and cleared by editors.

The inquiry - headed by Stephen Dando, BBC director of human resources, and Caroline Thompson, head of public policy - also found that Lord Hutton had mis- interpreted an internal e-mail raising concerns about Mr Gilligan.

In the e-mail - disclosed during Lord Hutton's inquiry - Kevin Marsh, editor of Today, told Stephen Mitchell, head of radio news, that Mr Gilligan had produced "a good piece of investigative journalism marred by poor reporting".

He added: "Our biggest millstone is a loose use of language and lack of judgment in some of his phraseology."

The BBC disciplinary investigation, which was launched following January's resignation of Gavyn Davies and Greg Dyke as BBC chairman and director-general, decided Mr Marsh's views were well-known to senior editors and dismissed criticism suggesting that his concerns were ignored.

Richard Sambrook, BBC director of news, welcomed the findings. He said the investigation "concluded that Kevin Marsh and Steve Mitchell acted properly and that all those involved were acting in what they believed were the BBC's best interests".

Other executives, however, said the inquiry failed to consider whether Mr Gilligan's report had been correct.

In spite of the findings, the BBC board of governors will consider a new complaints procedure next month.

They will also debate separate recommendations on new editorial guidelines, likely to be contained in a report by Ronald Neil, the former BBC production chief.

 

CLINTON WORKING "AROUND THE CLOCK" TO GET MEMOIRS DONE

Clinton working 'around the clock' to get memoirs done
NEWSDAY / The Associated Press
May 3, 2004

Former President Clinton's much-anticipated book, "My Life," will settle some scores, starting with the "supine" press, according to a report in the June issue of Vanity Fair.

"He feels severely misinterpreted by the media," an unnamed author friend told the magazine. "The memoirs are an opportunity to set a lot of things straight."

Booksellers expect huge sales for "My Life," for which Clinton received a reported $10 million to $12 million advance.

The book is due out in late June; Clinton told Vanity Fair he is working around the clock to finish it.

"I am killing myself ... because I want it done," he said. "Hard enough to live my life the first time. The second time has really been tough."

Clinton said that his memory of events from 20 years ago is sometimes better than his recollections of the White House years, "because from the get-go so much happened in such a compressed amount of time. Under so much pressure. I have to slowly unpack it."

Where it does cover his presidency, the book will include few mea culpas about Clinton's role in the Monica Lewinsky scandal or other matters, Vanity Fair said.

An editor who has been briefed on the manuscript said that it veers too often into blame and self-justification.

When not writing, Clinton maintains a busy schedule of giving speeches and brokering AIDS treatment in Africa and the Caribbean while still playing an active role in Democratic politics. After his failed attempt to promote the presidential candidacy of fellow Arkansan Wesley Clark, he has become a weekly phone pal of Sen. John Kerry, the presumptive nominee, the magazine reported.

 

BROKAW SIGNS NEW 10-YEAR DEAL WITH NBC TO HOST DOCUMENTARIES

Tom Brokaw signs 10-year deal with NBC News
Reuters
May 12, 2004

Veteran TV journalist Tom Brokaw, stepping down as anchor of the "NBC Nightly News" in December, has signed a 10-year contract keeping him with the network as a documentary producer and host through 2014.

In addition to his documentary work, Brokaw, 64, will contribute to NBC's coverage of major news events as an analyst, the network said Wednesday.

Last month, Brokaw announced that he would preside over NBC's evening newscast for the last time on Dec. 1, to be replaced as anchor and managing editor by Brian Williams.

Brokaw, the former host of NBC's "Today" show and a White House correspondent who joined NBC News in 1966, took over as sole "Nightly News" anchor from John Chancellor in 1983.

"Tom's passion and professionalism has been the hallmark of this news division for more than 20 years," NBC News president Neal Shapiro said in a statement. "We look forward to Tom contributing to all of our programs."

The announcement came as NBC, a unit of General Electric Co , and Vivendi Universal Entertainment, formerly part of French media company Vivendi Universal, completed a merger to form NBC Universal.

It also comes as rival ABC, owned by the Walt Disney Co. , has made strides in closing the gap with NBC in the network news ratings war.

NBC has been No. 1 in evening news ratings among the Big Three networks since 1997, but Brokaw's impending departure as "Nightly News" anchor could change the equation.

Some analysts predict that NBC could lose ratings, at least in the short term, after Williams takes over, allowing No. 2 ABC's "World News Tonight" with Peter Jennings to climb past NBC to the top.

Nielsen Media Research reported on Tuesday that for the first time in nearly three years, Jennings scored a weekly victory over Brokaw in total viewers and in the key news-watching demographic of viewers aged 25 to 54. For the week of May 3, ABC's newscast averaged 8.9 million, compared with 8.7 million for NBC.

Brokaw has said he wanted to step down as anchor to devote more time to other pursuits, including writing books.

 

BBC INTRODUCES FLEXIBLE TV WITH ONLINE TRIAL

BBC introduces flexible TV with online trial
By Ian Burrell, Media Editor
The Independent (UK)
May 3, 2004

The future of television is almost upon us: the day when we spend our train or bus journey to work catching up on the shows we missed the night, or even several days, before.

Later this month, the BBC will launch a pilot project that could lead to all television programmes being made available on the internet. Viewers will be able to scan an online guide and download any show. Programmes would be viewed on a computer screen or could be burned to a DVD and watched on a television set. Alternatively, programmes could be downloaded to a Personal Digital Assistant (PDA), a hand-held computer that is becoming increasingly popular in Britain and sells from about 70.

The revolutionary plan has been drawn up by Ashley Highfield, the BBC's director of new media and technology. He revealed details of the project to The Independent last week. He said: "If we don't enter this market, then exactly what happened to the music industry could happen to us, where we ignore it, keep our heads in the sand and everybody starts posting the content up there and ripping us off."

Mr Highfield said the quality of the programmes will be so high that the experience of watching a show on a PDA will be similar to viewing an in-flight film on screens in the backs of seats on passenger aircraft.

The three-week pilot, called iMP (Internet Media Player), will allow 500 of the corporation's staff to step into this new world of viewing. They will be given PDAs and access to a range of BBC programmes, which will include the soap EastEnders and the hospital drama Holby City. Also available will be the series One Life, the dramas Cutting It and Grease Monkeys, the motoring show Top Gear and news bulletins.

Sneak previews of parts of programmes will also be offered, but no full shows will be viewable until after they have been broadcast. The programmes will then be available online for a week.

"We might get an over-positive response because I think a lot of BBC staff would love to be able to catch up on the programmes they missed last night on the bus or on the train," Mr Highfield said. "The quality is staggeringly good. It's slightly better than you get on the seat-backs if you are in a plane, although PDAs have a slightly smaller screen."

After the BBC pilot, an external trial will be launched with 1,000 people selected from subscribers with the broadband service providers AOL, BT and Tiscali.

The trial will examine whether people watch more television with iMP and if they change their viewing patterns, such as "starting to watch EastEnders in the morning", Mr Highfield said.

"If it seems that for a substantial part of the audience this is a very valuable way to consume media, then this is something we are going to have to take seriously," he said. "We will have to take some punts but if the feedback is strongly positive we will have to look at how we clear bulk content and how we start to roll this out widely."

The plan is to make all television programmes from the previous week available on the internet, using a programme guide similar to that already used on digital television.

The inspiration for the idea is the BBC Radio Player scheme, which has made the corporation's radio content available online for listeners unable to catch programmes at their scheduled times. The service was expected to be popular with fans of late-night shows, such as Radio 1's dance music programme Essential Selection, but has also been embraced by fans of Radio 4. "We knew it was going to appeal to the downloading generation. The surprise was that we serve several hundred thousand fans of The Archers every week," Mr Highfield said.

The iMP project is driven by research showing that people increasingly find it difficult to align their highly valued free time with fixed television schedules. Homes with personal video recorders (PVRs), like Sky Plus, already "time-shift" 70 per cent of the programmes they watch to more convenient viewing times.

"Amongst younger audiences television is having to compete against other media as well, not just different channels but trying to get eyeballs away from PlayStations and the internet," Mr Highfield said. "The fundamental shift in the music industry and the audio-radio industry to people consuming what they want, how they want, when they want, has given us a pretty clear idea that this is something that's going to happen to video."

He said putting certain types of programmes, particularly sports events, on the internet presented problems over legal rights, but the difficulties were not insurmountable. By launching iMP, the BBC hopes to avoid being left at the mercy of a software giant such as Microsoft, which could try to control the gateway to online television.

 

WORK TO START SOON ON NEW YORK TIMES NEW FLAGSHIP BUILDING

Construction of Times Building Is Scheduled to Start in Summer
By Charles V. Bagli
New York Times
May 13, 2004

The New York Times Company and its partner plan to begin construction this summer of a long-awaited 52-story skyscraper at Eighth Avenue and 40th Street, where workers are now dismantling the vacant buildings on a two-acre site.

The Times and its partner, Forest City Ratner Companies, have tentatively scheduled a groundbreaking ceremony for late June on what will be an $850 million tower, the newspaper's third home in the Times Square neighborhood over the last century.

Forest City also expects to agree in the next month on about $300 million in financing for the tower from the GMAC Commercial Mortgage Corporation, according to real estate executives and government officials.

"They expect to close within the next 30 days on financing," one executive said. "Then the project will take off."

Under the partnership, The Times has a 58 percent stake in the project and will occupy 825,000 square feet of the 1.5 million-square-foot tower. Forest City and its partner, ING Financial, have the remaining 42 percent. The Times expects to occupy the building early in 2007, more than two years later than planned.

Forest City's pending deal with GMAC ends a degree of uncertainty that arose in October, when The Times announced that it would delay construction until its partner could obtain financing. Last year, Forest City asked the Bloomberg administration for $400 million in tax-exempt Liberty Bonds, which were designated for rebuilding New York after the attack on the World Trade Center.

City officials balked, not wanting to reopen a deal that was struck in 2000. Under the terms of its land lease with the city and the state, The Times and Forest City were required to begin construction by September 2004. Forest City subsequently pared its request to $150 million, but made little progress on the bonds. The developer then turned to GMAC.

The partners took possession of the site, between 40th and 41st Streets, across Eighth Avenue from the Port Authority Bus Terminal, in September 2003, after the 55 businesses there had moved out. Several months ago, demolition began. Only four buildings, all shrouded in black safety netting, remain on the site.

The Times and Forest City posted a $134 million letter of credit covering acquisition of the site, but they are liable for only $85.6 million. Anything above that will be refunded over time as a credit against the land rent paid to the state. Under the deal with the state, The Times also got $26.1 million in tax breaks.

 

NEW YORK SUN LOOKING FOR $40 M

Refinancing Sun Begins Hondling New $40 Million
In 2008, for the first time, The Sun expects to turn a profit of $1.316 million.

By Tom Scocca
New York Observer
May 12, 2004

Last month, The New York Sun celebrated its second anniversary. And the toddler daily broadsheet knows just what it wants for its birthday: $40 million.

In late March, the paper put forth a private-memorandum offering of 4,000 shares in its parent company, One SL L.L.C., at $10,000 per. Currently, The Sun is backed by $25.6 million, according to the report; its leading investors are chairman and Alliance Capital Management vice chair Roger Hertog, who, with his investment of $3.75 million, serves as chairman of One SL; Caxton Corp. chairman Bruce Kovner at $3 million; and Loews scion Thomas Tisch at $2.85 million.

Sun editor Seth Lipsky, who is president and chief executive of One SL, declined to comment about the offering or about his newspaper's future goals. By way of discussing the plans, Mr. Lipsky referred Off the Record to the paper's April 16 anniversary editorial, which described Mr. Lipsky's three-for-three record of success in helping to start the Asian Wall Street Journal, the Wall Street Journal/Europe and the Forward in English.

To make it four for four, Mr. Lipsky and his companions are seeking ambitious, if not fearless, investors. Fly-by-night types hoping to cash in on the daily-newspaper bubble need not apply. The memo explains that "no Member may transfer Membership Units without the prior written consent of a majority of the Managing Members" and that "[n]o Member may withdraw from the Company without the consent of a majority of the Managing Members."

In exchange for that commitment, investors will get a piece of a newspaper that lost $12.8 million last year, according to the memo.

But they will also get the opportunity to express their faith in the newspaper's self-identified market niche: "a high quality newspaper on the center right." A helpful matrix divides up the New York dailies to show The Sun in its own cell: next-door to The New York Times (Quality, Left-of-Center) and just upstairs from the New York Post (Popular, Right-of-Center).

To secure its ideological position, the memo promises an overhaul and expansion of the op-ed pages, accompanied by the hiring of "a full-time, seasoned editorial page editor." To take care of quality, The Sun proposes improving the business page, having a column a day on the society page, finding a new art critic and beefing up the sports section.

It also has to upgrade its audience. So far, the memo confesses, The Sun has found "potentially negative" readership data: Its readership appears to be older and poorer than anticipated.

But the paper is eagerly adaptable. Already, in two years, the memo recounts, the paper has changed its slogan from "New York on Page One" to "Expect a Different Point of View."

"More recently we have been testing the slogan 'Illuminate Your World' to signal that the newspaper is hospitable to a broader audience," the memo adds.

The memo also signals The Sun's intentions to change its underlying income structure. According to the cash-flow statement, the paper is currently circulation-driven rather than ad-driven, with last year's income divided roughly 58-42 between circulation revenue and advertising revenue.

The Sun's financial projections call for that difference to narrow to 54-46 in 2004 and then to reverse-to 57-43 in favor of advertising-in 2005.

That doesn't mean, however, that circulation will be stagnant. The memo predicts that circulation revenues will grow four times over by 2005. Advertising will come out ahead by the simple trick of growing from $794,000 to $5.9 million in those same two years-more than a sevenfold increase.

Such explosive growth will launch a rocket ride: The table projects revenue gains between $6 million and $7 million for each of the next three years. It culminates in 2008, when revenue tops $30 million. Then in 2008, for the first time, The Sun expects to turn a profit: $1.316 million, to be exact.

Even with four significant digits tempting investors, though, The Sun maintains its scruples.

"When we use the words 'will likely result,' 'may,' 'shall,' 'will,' 'believe,' 'expect,' 'anticipate,' 'project,' 'intend,' 'estimate,' 'goal,' 'objective,' or similar expressions," the memo cautions, "we intend to identify forward-looking statements. You should not place undue reliance on these forward-looking statements."


All notes and summaries copyright © Tom Gross. All rights reserved.