The Boston Red Sox principal owner, John W. Henry, is on top of the world right now with his team winning the World Series.
But Henry is also just starting another very important job as the new owner of The Boston Globe at a time when newspapers are suffering from declining revenue and profits as certain advertising either switches to the Internet or dries up completely.
Despite negative trends in the trade, Henry recently wrote an optimistic essay that is worth reading.
Compared to other industries, journalism is an unusual business because many of the employees aren’t thinking on a daily basis about making profits.
“I haven’t met anyone in the business whose main reason for being there is to make money,” Henry wrote.
He added, “Make no mistake: The Boston Globe will survive. There is too much talent at the paper, too much passion among its readers and advertisers, too glorious a history and too great a need for its journalism to ever think otherwise.”
Regarding the blizzard of misinformation spewing out today on the Internet and in other places, Henry said, “There is no shortage of information today, but much of it is unsubstantiated, too voluminous to understand or presented in entirely self-interested ways.”