The head of Cannell Capital hedge fund wants Jim Cramer to consider two options: quit CNBC and focus on at significantly reduced pay; or sell the 18-year-old financial news website.

J. Carlo Cannell writes:

You have already extracted more than $14 million dollars from TST. Think about your legacy.cramer In the very best years for the shareholders of Apple Inc., Steve Jobs was paid only $1.00 per year. Warren Buffet’s salary has been $100,000 for more than 25 years. Why in the very worst years for TST shareholders must you pay yourself more than $3.5 million per year? …

In addition, you have enjoyed considerable non-pecuniary compensation such as perfumed sedan driver(s) and assorted assistants who spray ionized lavender water on your barren cranium.

Cannell asks the 59-year-old Cramer: “When you lie upon your deathbed, how will you reflect upon on your legacy? Once a $70 stock, TST is now $2.20. You have done well, but how has the common shareholder done?” Not well.

The letter is after the jump. Read More

Gannett recruiter Antje Spethmann sent this to Richard C. Arthur on Tuesday:

Dear Rick,

Good afternoon, I found your profile on LinkedIn while searching for an editor to fill one of our Content Strategist roles. We have openings for a newsroom leader – essentially managing editor – at The Asbury Park Press, The Cincinnati Enquirer, The Des Moines Register, The Springfield News-Leader and The Salem Statesman-Journal.

Antje Spethmann

Antje Spethmann

As part of our “Newsroom of the Future,” we have organized ourselves to keep pace with news consumption, become a digital-first news institution, and let our reporters own and drive their coverage.

As such, leadership positions are more coaching and strategy oriented.

In Salem, Asbury Park and Cincinnati, we are looking for investigative/watchdog/accountability coaches to guide reporters during and after the creation of content. Needless to say, this person has to live the Fourth Estate./CONTINUES Read More

David Wallis interviewed The Marshall Project editor-in-chief Bill Keller for this week’s New York Observer. Here are a few quotes from the ex-New York Times executive editor:

images-1* One piece of advice [for new editors] is to try and bring out the best in the reporter and let the reporter get the credit and have the reporter do the work. You know making stories better is great, but making reporters better is much more enjoyable.

* One thing that made me defensive [as executive editor] was the notion that The New York Times was this citadel of liberal activism—the whole notion of trying to be impartial was a fraud or a façade.

* I’ve never punched a hole in the wall. I’m famously Zen. I mean I compartmentalize well — or so I was told once by a shrink.

Not all of Wallis’ interview made the Observer. He sends these unpublished questions and answers:

Have you ever had a brush with the law? Did Bill Keller ever tip a cow at Pomona [College]?
I’ve never had a brush with American law. I had an occasional brush with Soviet law, largely by virtue of going places that were supposed to be off limits to foreign reporters. I got called in and got a finger waved at me.

President Obama recently made history, signing an executive order which profoundly changes this country. What is the next executive order you would encourage him to make regarding the criminal justice system?
My heart goes out to the people who can now all come out from the shadow of fear and live their lives, but I think we want to be a little wary of executives using or stretching the limits of their power. But you know, there’s probably a bunch more that Obama could have done. Starting with attempting to get more money put into the system to lighten the loads of prosecutors so they can make good decisions of who’s good to prosecute and who’s not, instead of making decisions on the fly by plea bargain. . . .Most of the criminal justice system is the 50 states’ systems, followed by the innumerable county and urban systems. So what the federal government does, and what the president has authority over, is a relatively limited slice of it. Where he does have a slice of it, he can A) do more, and B) lead by example. I think he probably could have done more with clemency powers that he has available to him./CONTINUES Read More


Letter to Romenesko
From DAN MITCHELL: Why are so many news organizations reliably publishing garbage on Facebook and Twitter? When it’s not sub-literate or full of typos (like this example [above]), it’s silly and inane, like the drivel pumped out by Mother Jones, Slate, and many others.

From what I’ve been able to tell, news managers tend to put interns and junior staffers – people with little or no journalism experience – in charge of social media and let them go hog wild with little or no supervision or editing. When are these managers going to realize that social media is now their most public-facing venue? Would they put inexperienced kids in charge of front pages, homepages, or magazine covers?

Care to respond to Mitchell? Post in Comments or send me an email and I’ll post for you.

New: Comments from my Facebook friends and subscribers

* Dallas restaurants vs. Dallas Morning News critic Leslie Brenner. (
* NBC’s Dr. Nancy Snyderman apologizes for violating her Ebola quarantine. “Good people can make mistakes,” she says. (
* Labor reporter Steven Greenhouse, who has been with the New York Times for 31 years, takes the buyout. ( | “Say it ain’t so! We’re losing invaluable voice on workers’ issues at a critical time. No one probed labor with keener insight.” (@patrickgaspard)
* Another big NYT loss: Advertising columnist Stuart Elliott says he’s “taking part in the (generous) buyout.” (@jeremymbarr) | “Mad Ave without @stuartenyt is as hard to imagine as, say, NYT without @stuartenyt.” (@davidjoachim)
* Poynter’s paper loses another veteran: “After 750 food sections (yes, I double-checked my math), I will be stepping down as food editor of the Tampa Bay Times at the end of December to join the faculty of the University of South Florida St. Petersburg as a visiting professor,” writes Janet Krietemeyer Keeler. ( setting)post2
* [RIGHT] New York Post’s thinking. (@nycjim)
* Vice Media eyes “distressed media asset” HLN. (
* Jill Abramson investigates pedestrian traffic deaths. (
* NPR warns about $5 words – esoteric and ubiquitous, for example. (
* A Ferguson exhibit is coming to the Newseum. (
* Philadelphia magazine’s Victor Fiorillo launches a $10,000 Kickstarter campaign for his play, “The Bill Cosby Assault.” (
* Pierre Omidyar and The Unmanageables. (Not a rock-and-roll band.) (
* The Medill Medal for Courage has been renamed the James Foley Medill Medal for Courage. (
* Was longtime Reuters reporter Pascal Fletcher booted for asking tough questions of the boss? (
* Faces of the Philadelphia Inquirer buyout. (
* Former Page Six writer Paula Froelich, who now runs Yahoo Travel, says “I feel like Cinderella.” (
* CJR: Be extra careful when reporting on rape. (
* “Black intersection”: Unfortunate Knoxville News Sentinel typo. (
* Jeff Bezos wants the Washington Post to be “a national and even global publication.” (
* Quartz and other homepage believers. (
* Wanted: A journalism professor (one or two year position), and a radio news director. (Romenesko Jobs)

Nobody’s wondering, Ken, but the figure is already out there.

* “One of the oldest holiday cliches in the book,” and other comments (

- Photo on the front page of Monday's Providence Journal

– Photo on the front page of Monday’s Providence Journal

Romenesko reader Mark Hertzberg saw Monday’s Providence Journal and its lead story about trying to slow down drivers. “There is a file photo of a terrible accident mentioned in the story,” he writes. “The byline on the nighttime accident photo is Karen Bordeleau. I wondered if ProJo had a new photographer because I don’t recognize her name … but she is the Senior Vice President & Executive Editor, according to the executive listings on page 2.”

What is the top editor doing taking car-crash photos at night? She explains:

I stopped to take the photos when I saw the accident on my way home from work. I asked a couple of questions and texted the information to the newsroom. It was no big deal — I’m drawn to flashing lights and sirens like any other journalist.

* Front page of Monday’s Providence Journal (

New: Read comments from my Facebook friends and subscribers (

The executive editor at Gawker – a new position – will “provide editorial direction and drive coverage of major stories,” while the group managing editor will handle personnel.

The memo from boss Nick Denton, sent to staff this afternoon:

Hard to imagine, but 2015 is going to be even more intense than this year. Our editorial leadership will be up against pros like Buzzfeed’s Ben Smith and Vox’s Lockhart Steele — with a phalanx of VCs behind them.
They will outspend us next year; but we can outplay both incumbents and cash-rich ventures, as we have in the past. Our talent selection and development, and our editorial plays, must be as shrewd and accomplished as the baseball management popularized by Moneyball.

In that, we have one great asset that no money can buy: an independent spirit and willingness to defy conventional wisdom.

To that end, we’re strengthening core management within Editorial and creating two new positions: Executive Editor, to provide editorial direction and drive coverage of major stories, and a Group Managing Editor handling personnel. (That’s a division of responsibilities much like that in a newspaper.)

Both the GME and the incoming Investigations Editor, more familiar to you as John Cook, will report to the Executive Editor, as will the EICs of Gawker, Gizmodo and the other sites. We trust the core of the new executive team will be in place in the new year.

It’s my hope that Joel will continue to provide the link between our journalism and our software product development.

The mobile app project — known in the product team as Spark — owes much to Joel’s insight into how blogging and commenting feed off each other. He’s key to the 2015 design project. And his writing on media ecosystems reconciled our advertising sales leadership to a software future, which is a really big deal. We need Joel’s mind, and we need it free of everyday distractions.

Interviews for the new Executive Editor position will start this week. The position will report to me. It is well compensated, commensurate with the responsibility, the motivation of the company’s largest department. Candidates will be asked how they intend to sustain our traffic momentum in 2015 — while producing the scoops and pungent opinion that have made the reputations of our eight flagship titles.

(By the way, November’s audience number is in, 76m in the US, up 19% on a year earlier. io9 has doubled in reach. Not bad! Oh, and for what it’s worth, we draw no less than a third of that elusive demographic, the Millennials that Vice pretends to speak to.)

There are already a couple of strong contenders in the mix. If there are other nominations, for candidates either internal or external, please send the names my way. Interviews will be conducted — swiftly — by me, Heather Dietrick and others. Once you’ve talked with Joel, I’ll be speaking with you in person to answer questions.


* Joel Johnson has been stripped of his Gawker editorial duties (


Businessweek national correspondent Joshua Green (above, with glasses) tweets: “When I was 7, I started a ‘newspaper’ w/twins next door. Mom just sent yellowing clip. Pull quote is priceless.” Green writes in an email: “I think the lifespan of the River Ridge Press was fairly brief… Neither of the Frasure twins wound up in journalism, alas, but we’re all still friends. …Bill Frasure is a parole officer, Dan a truck driver.”

* Read the story about young Green and his newspaper colleagues (Google Drive)