Henry Blodget’s Mean Breakdown Of The Newsweek Numbers: Blame Burgers

So Newsweek’s financial information is circulating in advance of the magazine’s pending sale to somebody.

And Business Insider’s Henry Blodget thinks he’s figured out why Newsweek is losing money: burgers.

And salads and coffee and those delicious banana pudding cups with the vanilla wafers at the bottom that seem to be a staple of every cafeteria.

Yes, Blodget is blaming Newsweek’s six cafeteria staff for the magazine’s decline. And the 17 employees in IT, and the 19 in accounting.

Really now?

How much do you make as a cafeteria worker? Probably less than what a company saves by offering an on-site cafeteria as a benefit instead of paying higher salaries or whatever.

Sure, it’s not a 1:1 tradeoff. But neither is it entirely ridiculous to think that a magazine of Newsweek’s size would have 17 IT professionals. You should see how often newspaper editors break their PCs.

photo: billaday

Publish date: May 24, 2010 https://dev.adweek.com/digital/henry-blodgets-mean-breakdown-of-the-newsweek-numbers-blame-burgers/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT