Why "Rescue Memo?" Why Murdoch?

Jack Flack posted his first "Rescue Memo" on Friday, addressed to none other than the trodden wallflower Rupert Murdoch.

E-mails have already surfaced two good questions.

1. What's a "Rescue Memo?"

The memo is Jack Flack's loving little device for administering counsel to those who are having a hard time managing their own story. Sometimes they are already taking a brutal beating in the headlines, and sometimes they are simply whistling along, unaware of the angry mob that awaits them around the corner.

Seldom does any CEO get unvarnished feedback from anyone other than their spouse, particularly when it comes to the behaviors that get them roasted in the media. So Jack Flack seeks to fill that void.

2. But why debut with Rupe?

Good question. After all, as Michael Wolff explained, the man actually seems to enjoy his image just the way it is. And besides that, why would anybody want to rescue the guy Jack Shafer affectionately calls the "rotten old bastard?" Particularly for free?

Well, more than anything, the Rescue Memo is all about taking on a challenge, and Jack Flack is completely intrigued by what may be in store for his favorite newspaper.

By bagging Dow Jones, Murdoch has strapped himself to the highest profile deal of his life, paying a heavy premium for what most people consider a future dinosaur. Cutting staff and replacing the A-Heads with gob-smacking headlines will not be sufficient. Neither will thumping the NYT, given the limited upside of national newspapers.

So why'd Murdoch do it? If he fails, he'll be just another run-of-the-mill titan saddled with an embarrassing trophy purchase. But if he succeeds, then he will likely be the genius who cracked the code of monetizing news content in the digital world.

It all begs the question -- What must Murdoch do to make sure the story plays out happily ever after?

In the future, you'll see Jack Flack offer his free advice to all kinds of business biggies -- wretched villains, tin-eared good-guys, ambitious knuckleheads and brilliant over-achievers cursed with unfortunate blind spots.

Jack Flack welcomes your suggestions for future addressees.