Choices for Changing Times

Without doubt or hesitation, I can say with certainty, the toughest thing for me to do as a news executive was firing an employee. I bring this up now because so many people are facing lay-offs and dismissals as the economy struggles. We had an unwritten rule that if somebody had to be laid off or fired, we would not do it during the holiday season. As I write those words this simple courtesy seems almost quaint. Every day we learn of more people losing their jobs with much of the tough news being delivered right now, just a little more than a week before Christmas. And that is strangely emblematic of how things have changed.

The backdrop to the real stories of workers at every level struggling because of lack of work is stark and filled with greed. When we read about a governor trying to sell the public trust to the highest bidder, and elite financial managers ripping off billions, as highly paid corporate executives use private jets while they beg for even more billions, it’s hard not to become angry. The problem with anger is that it’s most useful when it motivates profound strategic change, as opposed to revenge and justification for even more bad behavior.

Economists like to talk about corrections. The idea being that the market will adjust to changes and move ahead after down cycles. But even Alan Greenspan admits that he made a mistake in relying too much on this process. So now our only recourse is bailouts that cost billions and eventually may be in the trillions.

There is a spiritual dimension to our current situation that doesn’t get enough attention. We have to change the way we regard each other and the idea of public service and what we value. I’m reminded of this notion by Anna Quindlen’s current column in Newsweek. Being close in age to Ms. Quindlen, I, too, remember saving for something we wanted and not relying on credit. I also remember the first time my parents received a Master Charge (that’s what it was called then) card in the mail; they cut it up, immediately. If we can't pay for it, we shouldn't buy it. The point is that when we start to value things, more than people and ideas, we wind up where we are.

So as we collectively struggle through these economically tough times we need to take stock of what is really valuable to us and how we can add even more value in ways that matter, in contrast to acquiring more things. Perhaps the anger we feel at the excesses exposed by our current crisis can be directed toward positive purposes that celebrate our common concerns. The media might help if we demand more than the current menu that passes for entertainment. A little mind numbing crap—as I call it in our household—has its place; in small doses, escapism can help us get through the day or night. But a steady diet will lead to psychic disease and death of the spirit. And for the media business that’s the real problem. With all the cutting and layoffs, the efficiencies that save money, we are missing opportunities to build and innovate. Good programming, and well-produced content, still draw an audience. Fortunately, there are still some excellent programs and movies. The challenge is to constantly improve and use the new technologies to inspire and lead. The real value in presenting quality content will be rewarded and help more than the “bottom line”. By being a positive force we become part of the solution to our own and larger problems. But if it's just about cutting the payroll, media companies will wind up in the same situation as the banks and car makers.