The Bergen Record: "Are We For Sale? Sure, For 50 Cents"
Last September, Malcolm A. "Mac" Borg, publisher of The Record in Bergen County, N.J., announced to his 1,400 employees that the company's profit-sharing program would probably be suspended. It looked like advertising revenue for the year would likely fall short of targets. How could that be? After all, the economy was red hot, advertising dollars were flowing, and the newspaper served one of the most affluent counties in the country. Borg would later blame the problem on morale issues among advertising staff, but bottom line, The Record missed out on 1999's boom. "It was a very, very unpleasant year," says Borg.
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