This week Postmedia CEO Paul Godfrey announced another round of sackings in the troubled downward spiral of the one-time media conglomerate, including several publishers at various major titles in the chain.
That means those interns working out of the donut shop are going to have to pull up their pants and tighten their belts even more than before.
Because everybody knows that news gathering, investigative reporting, thought-provoking editorial writing, and newsworthy content don't mean shit if the bond-holders aren't being paid in full on the "equity" they bought for pennies on the dollar.
When Godfrey bails you'll know there's not enough juice left in the old cow to pay his seven-number salary.
And the new CEO will be an unpaid intern working out of a Tim Hortons in Burlington.
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