This past Saturday The News & Record reported (but of course didn't post) that a new newspaper is starting up in Greensboro. The yet-unnamed weekly has ESP's former editor Ogi Overman as publisher, former head of the Rhino's advertising sales team as... uh... head of the new sales team and County Commissioner Mike Barber as investor-laborer-without-portfolio.
Shooting for a first publication date of March 10th, the new weekly expects "to take the best of the Rhino, ESP, Go Triad and embellish that - put our vision on it", according to Overman in the article.
In an unprecedented turn of events perhaps foreshadowing a circling of the wagons to stave off an impending assault on both of their readerships, the N&R actually acknowledged the existence of Rhino publisher Willie Hammer. Moreover, they quoted Willie about the expense of starting a new paper, "It's extremely expensive to start up a weekly newspaper. Your going to lose money for the first, sometimes, three years. Where's that money coming from?" Where indeed?
I was puzzled when I first read the article as to why reporter Alex Wayne kept harping on the venture's financing. He got a not-a-problem-this-time-around quote from Overman, "I've been in undercapitalized ventures and nine times out of ten they don't last."... in retrospect, I figure that Alex had already heard about a rumoured source of the paper's capital and was pressing for information to confirm.
The article goes on to point out that Barber doesn't seem too worried about finances either and has assured Overman that "the new venture had enough money" to make a go of it. Please know that Barber has been out of a steady job for some time, and Ogi is no venture capitalist, so where is "enough money" coming from?
Jim Melvin has "enough money", wouldn't you say?
10:15:11 PM  
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