I was laid off by the Chicago Sun-Times Feb. 1 because I lacked seniority during a group layoff. In my column, The Right Place, and in our Real Estate section, we were regularly reporting on subprime mortgages, foreclosures and the credit crunch. Sad news, bad news and unwelcome news. It’s difficult to lose your beat when you are reporting on important economic events. Although I would like to do more, right now I have to satisfy myself by simply following the headlines.
Today, Louise Story of the New York Times reported on the Implode-o-Meter, the “brainchild of Aaron Krowne, a former researcher at Emory University in Atlanta. A computer scientist and mathematician, Mr. Krowne, 28, started the site in 2007, believing that the troubles in the housing market, and by extension the mortgage industry, would worsen, ” Story writes.
Today, the Implode-o-meter reports 265 lenders have gone under. When we reported on the Impode-O-Meter in March 2007, only 33 lenders had failed . . . that was back when this story was very new and most folks hardly knew the difference between a lender and bank. At the time, we were receiving dozens of tips a week that we could not follow up on and verify. But Mr. Krowne could and did.
Click through the Implode-o-meter About our lawsuit and Donations and you’ll see a fitting articulation of why blogging is so difficult to sustain.