There was plenty of bad news fit to print this week: The New York Times will begin laying off 500 of its employees in just a few weeks after a painful decline in advertising revenues. Those staff cuts, which are scattered across the Times Co. and its papers, will include 45 newsroom jobs at the Gray Lady and 35 at the Boston Globe. On the same day, the Knight Ridder chain announced it would reduce the headcount by 100 at its Philadelphia papers, the Inquirer and the Daily News. Whatever it takes to prop up the stock...

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