Washington Post

On May 21, Los Angeles voters will go to the polls to select a new mayor. Who will govern Los Angeles, however, is only the second-most important local question in the city today. The most important, by far, is who will buy the Los Angeles Times.

The Times is one of the eight daily newspapers now owned by the creditors who took control of the Tribune Co. after real estate wheeler-dealer Sam Zell drove it into bankruptcy. Others include the Chicago Tribune, the Baltimore Sun, the Orlando Sentinel and the Hartford Courant. The Tribune board members whom the creditors selected want to unload the papers in favor of more money-making ventures.

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For decades, U.S. corporations have been told to slim down. Not to abandon corporate jets or cut CEO pay, mind you, but to produce more with fewer employees. The conventional wisdom couldn’t have been clearer: The minimum number of required workers yields the maximum level of profits, all else being equal and the creek don’t rise.

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Have American liberals moved too far to the left? That’s long been the contention of conservatives contemplating liberal positions on a host of social issues, such as gay marriage and the legalization of undocumented immigrants. But opinion polls on these issues show that yesterday’s far-out liberal positions are quickly becoming today’s conventional wisdom.

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To the let’s-cut-entitlements crowd, what’s wrong with America is that seniors are living too high off the hog. With the cost of medical care still rising (though not as fast as it used to), the government is shelling out many more dollars per geezer (DPG) than it is per youngster (DPY). The solution, we’re told, is to bring down DPG so we can boost DPY.

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A Mediterranean diet, the New England Journal of Medicine reported Monday, can lengthen one’s lifespan. So inhabitants of southern Europe can look forward to long lives — of anxiety and privation.

Already mired in a depression comparable to that of the 1930s, Spain, Greece and Portugal are going to see things grow worse this year, according to an annual economic forecast released by the European Commission on Friday. Unemployment rates in both Spain and Greece — where a quarter of the populations are unemployed and the share of jobless young people exceeds 50 percent — will rise to 27 percent.

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Big business is beginning to move its money around again. In just the past couple of weeks, Comcast has bought the remaining stake in NBC Universal from General Electric. With all that newfound cash, GE is buying back stock and upping its dividends to shareholders. Warren Buffett has bought the world’s largest ketchup stash; US Airways and American Airlines have agreed to merge. Meanwhile, Apple, so far an exception to this rule, is sitting on $137 billion but has been sued by a hedge-fund operator who wants more and better dividends.

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