Blogs get a lot of the blame for the destruction of the newspaper business. As a form of communication, they are quicker, easier and more effective than newspapers. This we know.

In a Reuters article discussing the decreasing number of newspaper analysts, Robert MacMillan offers another explanation of bloggers on the newspaper world: "In the absence of critical analysis from Wall Street, bloggers and industry executives have grown in importance." In essence, the opinions of the blogsphere take on more importance in the absence of more traditional expert advice.

What came first: the lack of advertising or the doom and gloom of the blogosphere? Probably the former, but the latter is increasingly hurting the industry.