Craig Rentmeester's Blog

Hindsight

Today is the last day that the Seattle Post-Intelligencer is publishing its print edition. It will reduce its staff of 140 down to 20-25 employees as it moves to an online only newspaper.

Three years ago I received the letter below from the Seattle Post-Intelligencer. (click the image below to view the letter).

It notified me that I didn't get accepted to their internship program.

Around this time, I got the same types of letters from editors at Newsweek, the St. Louis Post Dispatch, and many other daily newspapers and magazines.

Hindsight has allowed me to realize that I applied to these types of internship programs for the wrong reasons.

1. I had no vision; I didn't know what I wanted to do or become.
2. I was denying the fact that newspapers were a dying industry, even though the writing was on the wall.
3. I was applying because it was safe. I had worked at magazine for 4-5 months and was a J-school student.

In retrospect, I was glad I caught on at a startup company called BuySelf Realty, and had the opportunity to change the way people sold their homes. This was in May 2006, around the time that flat-fee real estate services were becoming popular, and the housing bubble was in full swing. 

I learned more about business there than I would have doing fact-checking at the P-I. 

The takeaway

When you don't get what you were hoping for, try to remember why you wanted it in the first place.

Is it truly what you were looking for, or were  you trying to convince yourself it was what you wanted when it really wasn't.  

Hindsight brings clarity. Vision can do the same.

The numbers don't lie - Print is dying - Hooray for Online Ads

The newspaper industry has experienced the worst drop in advertising revenue in more than 50 years, according to the Newspaper Association of America.

Read the full article on Editor and Publisher.

Some Stats from the Article:

Print Advertising

• Total print advertising revenue in 2007 plunged 9.4% to $42 billion
• Classified plunged 16.5% to $14.1 billion.

Internet Advertising

• Internet ad revenue in 2007 grew 18.8% to $3.2 billion compared to 2006.

Advertising as a whole

• Total advertising revenue in 2007 -- including online revenue -- decreased 7.9% to $45.3 billion compared to the prior year.

Newspapers earning more of their money online

• The NAA reported that online revenue now represents 7.5% of total newspaper ad revenue in 2007 compared to 5.7% in 2006.

Tip of the Hat to The Cycle for pointing out the article.

Google, whose stock was trading at over $740 per share in Nov. 2007, had  no comment.

The Week of the Underdog?

Could this be the week of the underdog?

The Giants rallied past the Patriots.

Now, could Barack rally past Hilary?
Could McCain get the bid that was unforeseen only months ago?

Time, maybe even hours, will tell.

I think undecided Americans like rooting for the underdog.  It is a more compelling story than rooting for the favorite.

The question is, will they show up and support the underdog? A compelling story can get people talking. But, talk is one thing; action is another.

Here's an update on Super Tuesday's action.

Opening Up

At the Consumer Electronics Show (CES), Comcast announced its plans to release a device called "AnyPlay", a portable DVD/CD Player that will allow users to record and playback up to 60 hours of footage from cable TV using DVR technology via a docking station of sorts.

(see right for a picture of the AnyPlay from CNet, click to enlarge)

The device is being co-developed by both Panasonic and Comcast.

More on the AnyPlay device from CNet  and Reuters.   

PC World has Comcast's chief executive Brian Roberts quoted as saying,

"The era of closed cable is over and the era of open cable is here."

Talk about a (great) shift in mindset.

After Verizon announced its plans to open its networks to other cell phones later this year there is a definite shift in thinking taking place amongst executives at cable and cellular companies.

Rethinking your strategy, leveraging your assets and trying to serve your customers better is a great way to get ahead of the competition.

More of the same is usually a losing strategy.

Social Media and the Presidential Race

Ten republican hopefuls take the stage tonight for their first debate in New Hampshire. With the upcoming presidential election in mind, I decided to do a little social network research on Facebook. Here are a few things that I found.

1). Barack Obama has over 87,600 supporters on Facebook. He also has nine photos and some basic personal information posted on his profile. (education, personal interests, websites, etc.)

2). John McCain has over 3,000 supporters on Facebook. He also has basic personal information and 31 photos posted on his profile. He seems to use his profile more blatantly as a marketing tool than Barack Obama. For example, he has events posted for supporters to attend. Unlike Obama, Mccain's profile isn't written in first person so its easy to see that someone else is managing it for him.

3). There are tons of Anti-Hilary Clinton groups on Facebook, some with over 1,000 members. Also, Hilary Clinton does not have a profile on Facebook.

The Big Deal: Social media allows major political hopefuls a chance to position themselves to the public and those that usually don't turn out to vote, such as college-aged individuals. By utilizing social media and engaging constituents, a candidate can entrench an image of themselves among hard-to-reach groups. Also, social media provides a cheap, easy method for unlikely candidates to gain exposure and momentum. I wouldn't be surprised if all potential candidates utilize social media throughout their long-lasting campaigns.

Ricky Williams' behavior recap

After failing the NFL's substance abuse policy four times, Ricky Williams has violated the NFL's substance abuse policy  for the fifth time.  Williams' agent, Leigh Steinberg, has yet to comment on the situation. However, I think everyone can assume he is at least one of three things a) disappointed, b) stoned with Ricky, or c) trying to figure what five percent of Ricky's contract would have been.

Williams is someone who had evrything going for him. He won the Heisman trophy, rushed for over 1,800 yards in 2002 and had plenty of money (see Williams' career stats). Now, his reputation is tarnished forever and he'll fall by the wayside. While Cam Cameron, the Miami Dolphins new head coach, declined to comment on the matter, it seems to be a blessing in disguise for him that he drafted Lorenzo Booker from Florida State.

The Big Deal: Ricky Williams represents the ignorance and stupidity that a few athletes have. When people complain about athletes getting paid huge contracts, they complain because there are guys like Ricky Williams who are ungrateful of their situation.

The future of the American automobile industry

Barack Obama gave a speech (details and transcript) at the Detroit Economic Group today. Obama’s speech outlined a plan for automakers to invest in alternative fuel technology and receive financial support from the government.

This situation seems similar to the situation that automakers and the government faced in the 1970s, when the United States imposed trade restrictions on foreign automakers to allow American companies to catch up in terms of technology. However, the restrictions failed for many reasons, namely the lack of investment in research and development of four-cylinder technology. Today, and in the future, the automakers cannot work to impose restrictions on foreign automakers because they supply Americans with manufacturing jobs. Foreign automakers like Toyota invested in the American economy to secure distribution of their products in the event that a situation like the 1970s were to happen again.

Currently, Toyota and Honda have a stronghold on hybrid technology, with Ford, GM and Chrysler lagging behind. Now, as GM moves forward, with its E85 approach intact, will it attempt to catch up to Toyota and focus on hybrid technology? Or will GM invest in other fuel alternatives such as hydrogen fuel cells?

It is apparent that Toyota has first mover advantages in terms hybrid technology in compact cars (In March 2007, Americans bought 34,636 hybrid cars. Of those, 83 percent were Toyotas).

Will GM continue to serve the SUV market, a market that GM has dominated in recent years – 60 percent market share in 2005, while using hybrid technology in its vehicles?

GM plans to introduce hybrid versions of both the Yukon and the Tahoe later this year. Will this be a great business decision or will Americans shun the idea of a large SUV even though it is a hybrid?

With re-urbanization efforts and trends in metropolitan areas in mind, I think it’d be wise for GM, Ford and Chrysler to downsize the total number of models they produce, to lower production costs, and increase investment in hydrogen cell and hybrid technology for smaller cars and crossover SUVs. These will be sustainable products for the foreseeable future.

Please submit your suggestions for GM and Ford on how they should approach alternative fuels.

Naked People Everywhere

After checking the news today on a few sites, I came across this interesting story about Spencer Tunick. Tunick, a photographer from New York, assembled and snapped the largest nude photograph in Mexico City. 18,000 people were naked for the photo.

It's strange that throngs of people show up to help support this man's work, especially in traditional places like Mexico.

This is a photo taken by Spencer Tunick in Venezuela. The people are assembled in front of a statue of Simon Bolivar.   

Three easy ways to save money and reduce carbon dioxide emissions

With American media, government and citizens concerned over global warming,
I thought that I would present three actionable items that can save you money throughout the year and reduce your effects on the Earth. These are three items that require little time and money to implement into your routine. (the stats and items are from StopGlobalWarming.org - visit their website for more tips and information about Global Warming)

1. Clean or replace air filters regularly on Air Conditioning units.
    - Save up to $150 in energy costs and reduce carbon dioxide emissions by 350 lbs.

2. Properly inflate your vehicle's tires.
    - Reduce carbon dioxide emissions by 250 lbs. and save up $840 per year in reduced gasoline costs.
    - This will also help your tires last longer.
    - Check tires monthly as temperature affects tire inflation.

3. Replace used light bulbs with compact fluorescent bulbs.
    - Yes, the bulbs are generally more expensive than traditional light bulbs.
    - However, by replacing 3 bulbs, you'll save $60 per year and 300 lbs. of carbon dioxide.

These items can be done at work and at home. A great way to get on a boss' good side is to present ways to be more cost-efficient. They are quick and easy ways to help the environment and your pocketbook.