All Signs Poyntering Downward

 (Photo credit: Wikipedia)

Reflecting the wobbly state of the profession it helps to train, the journalist-gestating, non-profit Poynter Institute for Media Studies lost a whopping $3.8 million in 2011, the last year for which its financial information is available, according to articles in the Saintpetersblog.com blog and the Tampa Tribune.

Compared to Poynter's Form 990 Return of Organization Exempt from Income Tax in 2010, when it operated in the red to the tune of $109,206, the 2011 losses are alarming. The St. Petersburg, Florida-based school reportedly still has more than $45 million in net assets to stay afloat, and last November hired a new director to head its new foundation and boost charitable donations.

Times Are Tough in St. Petersburg: Sagging Economy Prompts Staff Layoffs

Image via WikipediaOn the heels of a 5 percent salary reduction and a shake-up in severance payments, the Times Publishing Co.'s St. Petersburg Times has begun pink-slipping editorial staffers in response to a stagnant economy that has dried up ad lineage and reduced circulation.

The Romanesko Website reports that at least 8 staffers have been laid off, though the daily thus far has confirmed only 3 jobs lost. Times Executive Editor Neil Brown issued a memo to the newsroom explaining the economic need to trim staff.  The St. Petersburg Times is owned by the nonprofit Poynter Institute for Media Studies.