Why business journalism is in trouble

Kyle Austin, a PR person, has an interesting take on David Carr‘s column in Monday’s New York Times about the demise of business journalism and why some business stories just don’t connect with readers.

Austin writes, “It’s a valid argument. Heck, TIME is trying to leverage the resentment as a way to make money on its business coverage (cover above). Unfortunately, that isn’t a good story for TIME’s colleagues at Fortune, the Bill Bulkeley’s of the world or CEO’s looking to get their name in print –- or even Google searches. Those that consume business media consume, as Carr notes ‘hope and aspiration.’

“The issue of Fortune on newsstands now, adorned with a digital image of Obama and Google glasses will probably be one of the best-selling issues of the year. Just like this Economist cover probably was. Therefore, when I look back a few weeks ago to Bulkeley telling me in advance of a briefing that he and the WSJ Boston office were kept away from Obama’s cleantech discussion at MIT ‘because DC owns all Obama coverage,’ it was probably a bad sign on a variety of fronts.

“There just isn’t much hope in business journalism these days, unless you’re working on cable TV.”

Read more here.