When Bad Things Happen to 'Good' People

Good magazine was founded with the best of intentions -- to help its readers make a positive difference in the world -- but that's scant protection against the harsh forces in the media economy. Earlier today the two-year-old independent title laid off seven people, with the cuts coming at its offices in New York and Los Angeles. Founder Ben Goldhirsh confirmed the move and explained the rationale via email:

The logic is preemptive. We know there will be a contraction in advertising revenue in the coming year and we know we can be more productive and relevant with a lower budget. This did require some hard decisions. I'm proud that we have made them. It is an interesting time. While the seas have never been rougher, the wind has never been stronger nor more at our back. This is our time. Our strategy has to simultaneously batten down the hatches, while also keeping the sails out. We're fortunate to have a fair deal of cash in the bank, and I believe that 2009 will be a defining year for our company.