Romenesko

Romenesko Memos
The Star Tribune has hired consulting firm Restructuring Associates to help "get our business on the right track to meet the significant challenges we face," writes publisher Chris Harte in a staff memo. "As a result of rapidly declining revenue - and expenses that haven't been cut anywhere nearly as fast - our operating cash flow has declined dramatically since 2000. Operating cash flow, which is the cash we have left after paying cash expenses, and which we then use to invest in everything from new equipment and computers to new products, and to pay our debt, has declined 50 percent in just the past two years and more than that since 2000."