Then Jim Webb happened, and with a dose of Macaca, that was that. Wadhams slunk back to Colorado, where he took the helm of the state GOP and ran Bob Schaffer's unsuccessful Senate bid against Democrat Mark Udall. Apparently, screaming "Boulder Liberal" 17.5 million times wasn't enough to win the race.
Now, he's watching his state party self-destruct before his eyes, with all of its statewide candidates imploding in hilarious (and spectacular) fashion, giving Democrats a near lock on the governor's mansion and improving our chances of holding on to the Senate seat.
In any case, some Colorado GOPers are finally tiring of Wadhams' incompetence, and have launched an effort to oust him.
And it was all for naught. Trippi was fired.
Then Michael Steele happened.
That's probably why he clings to his gold scam.
Revenue dropped 38 percent between 2007 and 2009, to $165 million. Newsweek's negligible operating loss (not including certain pension and early retirement changes) of $3 million in 2007 turned into a bloodbath: the business lost $32 million in 2008 and $39.5 million in 2009. Even after reducing headcount by 33 percent, and slashing the number of issues printed and distributed to readers each week, from 2.6 million to 1.5 million, the 2010 operating loss is still forecast at $20 million.
The magazine has general administrative costs of $55 million per year, which is astronomical and well out of kilter with its size. New owner Sidney Harman apparently has no plan to turn the magazine around, buying the company for $1 and the assuming of all liabilities. Not that it matters, because there's nothing that would turn the magazine around. It's dead man walking, along with the also failing Time.