Floundering in a sea of change (UPDATED)

From you local newspaper…The Sydney Morning Herald:

Once again in America, fiction flounders in the wake of reality TV. So does the traditional media. When I wanted to get an unfiltered measure of Governor Palin, the last object I was going to trust was the world’s most famous news brand, The New York Times.

By the way, how are US papers fairing financial nowadays?

UPDATE: Answer – for crap.