Somewhere, Bruce Springsteen and the E Street Band must be playing a sad song. The Asbury Park Press joins the litany of newspapers cutting stock listings.
The Press stated in today’s paper: “Beginning this weekend, the Asbury Park Press will no longer publish mutual fund tables on Saturday and will no longer publish stock tables on Sunday. Stock listings will be published Tuesday through Saturday. Mutual fund listings will be published Tuesday through Friday, and on Sunday. An expanded stock market highlights package, which will include listings for the Asbury Park Press/Bloomberg 75 index, will run on Sundays. These changes will help the newspaper avoid duplicating the weekly closing prices of both stocks and mutual funds. Readers also may visit our Web site, www.app.com, for the latest information about stocks and mutual funds. On the home page, scroll down and enter your stock or mutual fund symbol in the Quotes box for the latest price and statistics.”
Some brimstone baritone anti-cyclone rolling stone preacher from the East. He says: “Dethrone the dictaphone, hit it in its funny bone, that’s where they expect it least.”
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There's nothing I like better than the feel of a newspaper in my hands. Yet I disagree with the idea that an elegy needs to be written for the decision not to include stock tables.
I say this because of two reasons, one based on the need and one based on something else:
1. I discover, the longer that I'm a business journalist, that everyone I meet -- young and very old -- with an interest in the market, follows it on the Internet. Newspaper Web sites provide that data, and even if they don't, finance.yahoo.com and other Web sites offer plenty of it for free.
2. It is an environmentally sound decision in that fewer trees will be cut down.
I am not an expert, but I'll even try to argue against myself just to play the devil's advocate. I imagine that such a decreased use of newsprint could hurt newspapers because it would shrink the market for their suppliers. I don't know how to solve that problem, but the presentation of information is mutable, and this seems like a natural course of events.
On the other hand, I am an amateur on this topic, so I would appreciate it if periodically you could remind readers of your blog why stox should be in the papers.
Thanks very much, and I enjoy the blog! There is no other service like yours on the Internet of which I am aware.