next to him is david calloway, editor in chief of marketwatch.com. next to him, sandy close, the director of new american media. she is also my executive editor and i get to hold the microphone up to her. let's begin the discussion. >> thank you. let's start with a question that is on many people's mind. with cutbacks and technology shifts, what has that done to the quality of news, barry parr? >> when i worked at the "mercury news" back in the 1990's, we were trying to compete with the paper. i am here to stay mission accomplished. it has been a tough 10, 20 years. i have to tell you, some of the greatest innovation and highest quality work is coming from the ground up. if you look back over the last year, one of the most crucial issues that has concerned in this country, health care reform, we really have to say the traditional media let the country down. it has been a significant problem in the country. in many ways, it is not perfect, it is never going to be perfect, but on the other hand, we have a lot of small innovators out there that are thin

. >> all right, let's move to david calloway. you are with market watch, owned by news corp.. is market watch profitable? >> [inaudible] >> absolutely. it was profitable when be sold to dow jones four years ago. it is more integrated now and it makes money. >> and general news operations be profitable online today? >> absolutely, really is not that hard. online news operations have grown in the last 10 years. they do not come from a large place that has to shrink. they can run their businesses to always have a profit. many of them got started during the internet bubble where they raised money from venture capitalists, overspending, never getting their revenues that they needed, then collapsing. but the ones that succeeded build a brand and had a product that people wanted. they were either sold or they remained making a profit. >> i imagine that there is a very intense conversation going on right now between types of funding. let's move on to sandy from new american media. how have these problems facing the mainstream set affected the ethnic media community and the jobs for et