That is false. The clear impression of such a statement is that taxpayers' funds were used to finance the black press. The fact is that the loan is from the
When the Banner encountered financial difficulties with the onslaught of the recession and changing technological aspects of our industry,
One factor that made it relatively easy for the BLDC to approve the loan is that
With this relative certainty that the loan will be repaid, one has to wonder what the story is really about. The Globe knows that the Banner is the only journalistic voice for African Americans in
Now it seems the Globe intends to be the first to write the Banner's obituary with the strategy of defaming the publisher to ensure that the Banner's demise ensues. Relying on the advice of a media business analyst, the Globe predicts that the Banner's survival is "not sustainable." The Globe then proceeds to assassinate the reputation of the publisher by asserting that while obligations to BLDC languished, debts of the publisher were repaid. That was not possible. The accounts reveal there was inadequate revenue to do so. The
The journalistic independence of the Banner is well known. However, the Globe implies that Mayor Menino "threw a lifeline to the Banner" by using his influence with the BLDC "in the midst of a contentious reelection" to gain favor with the Banner. The Globe had the good sense not to suggest the alleged political strategy was effective because there was no evidence to support such false assertions.
Given the troubled financial history of the Globe, one would expect greater sensitivity for the present travails of the press. The former Boston Globe owners, the Taylors, sold the Globe to
But what will be the fate of the black press? For almost 50 years the Bay State Banner has diligently, faithfully and professionally represented the interests of those who would otherwise be overlooked. Why would the Globe publish such a negative and defamatory article despite the valiant efforts of the Banner staff, over a period of several years, to recover from the nation's worst recession? What is driving the negative attitude since it is highly likely that all Banner creditors will be repaid?
The Globe's lack of discernment is demonstrated by a telling mistake. No,
The loan fund is independent of
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