Bezos buys the Washington Post

 
 

Well, no one saw this one coming. Amazon.com founder and CEO Jeff Bezos is buying The Washington Post, according to the newspaper, which has been owned by the Graham family for four generations.

The Post reports that Bezos will pay $250 million in cash for the Post and affiliated publications. Amazon is not involved in the deal. The Post quotes Bezos as saying he does not have a concrete plan for the newspaper going forward and that it is “uncharted terrain.”

Bezos continued: "There would be change with or without new ownership. But the key thing I hope people will take away from this is that the values of The Post do not need changing. The duty of the paper is to the readers, not the owners.”

Bezos says he plans to remain in Seattle and will delegate operation of the newspaper to current management.  

Donald Graham, CEO of the Washington Post Co., said the newspaper’s financial situation dictated the sale, which was handled in utmost secrecy by the investment firm Allen & Co.

Check out the Post's story here.

Virgin on Business: Celebrating Boeing and the Interstate

Virgin on Business: Celebrating Boeing and the Interstate

If nothing else, significant anniversaries give us reason to pause and ponder.
| FROM THE PRINT EDITION |
 
 

Round-number-anniversary stories are an overused tool in the journalism workshop, maybe because they’re still helpful in pausing to assess where we are, how we got here and where we’re going.

In the case of two such round-number anniversaries being marked this year, those questions about where we’ve been and where we’re going have literal application because they pertain to two hugely significant developments in transportation, both important to this region, although only one is closely identified with it.

This year, Boeing celebrates the 100th anniversary of its founding and the interstate highway system marks 60 years since its official launch.

It is possible to overstate the significance to Seattle of Bill Boeing’s venture into aviation. It’s not true that without Boeing there wouldn’t be a Seattle, at least one that anyone would have heard of. Seattle was already someplace by 1916, thanks to the port and the railroads — the earlier contributions of two other modes of transport to Seattle’s creation — and events like the Klondike gold rush. Boeing didn’t emerge as the world’s preeminent commercial-aerospace company until well into its middle age.

But would the Seattle region have grown to the size it is and the importance it claims without being one of the world’s centers of aerospace design and production? Would it have developed the tech industries it thrives upon today without the foundation Boeing laid? Would it be a home to a thick portfolio of nationally significant companies? That’s highly debatable and quite doubtful.

As for where we’re going, wherever it is, we’ll likely get there by plane for a long time hence. For all the talk of hyperloops and other technologies, the airplane is still a remarkably efficient, productive and safe method of getting people and stuff from one place to another. There may be revolutions in design, materials and propulsion to rival the transition from propeller to jet, but short of teleportation, the airplane’s place in transportation is secure.

Much less secure are Boeing’s and Seattle’s places in that future. A lot of airplane-building rivals have come and gone in 100 years, and more are coming. It would be nice for both if Boeing and Seattle were still relevant to the discussion of the aerospace industry when the 200th anniversary of Boeing’s founding occurs. 

Meanwhile, the interstate highway system gets little love and a lot of abuse these days, credited with urban demolition, suburban sprawl and desecration of the countryside, not to mention the intangible crime of encouraging Americans to race to their destinations while ignoring the joys and sights of the journey.

Some of the blame is earned; much of it is silly. For people and things, the destination usually matters more than the journey. The interstates rendered the destination possible by making the journey faster and safer, even more enjoyable. And lamentations about not seeing or appreciating the country when viewed from the interstate are sometimes wrong. Take the drive on I-82 between Ellensburg and Yakima, or on I-90 just west of Snoqualmie summit, and try not to be impressed by either the scenery or the engineering feats.

Your cargo, however, is not on a sightseeing trip. It has places to be and work to do, which underscores the massive contribution the interstate system has made as an incredibly powerful economic engine. The modern American supply chain is a wondrous thing; it doesn’t happen without a network of limited-access divided highways, which, by the way, took a lot of traffic off city streets and rural roads, improving life for many.

Unloved as Interstates 5, 90 and 405 are for their congestion, noise, unsightliness, etc., and as expensive as it’s going to be to expand, rebuild and maintain them, give them credit for making urban life possible.  

Monthly columnist Bill Virgin is the founder and owner of Northwest Newsletter Group, which publishes Washington Manufacturing Alert and Pacific Northwest Rail News.