Absentee ownership works well for some industries, poorly for others. The mass media biz is a prime example of the latter.

Acquisitions of individual news properties and large news groups have exploded during the past decade. Gone are the days when people get to know a newspaper owner. The Dick Palmers and Morgan Murphys of the world are only a memory.

The same can be said of homegrown reporters. They’re gone, gone, gone. Most of today’s crop moved directly from journalism schools to unfamiliar markets. Their goal was not to plant roots, but to enhance resumes.

Few stay long enough to become familiar with local residents or their cultures. At the first opportunity, they move on to bigger, more prestigious organizations. Few could stay even if they wanted. Once journalists gain tenure and reach the top pay scale, cost-conscious media groups view them as a liability, despite their acquired experience.

None of this has gone unnoticed by customers. Advertisers are growing acutely aware of drastic circulation declines, which shamelessly are accompanied by rate increases. Subscribers, meanwhile, are fed up with shallow news coverage that often trails what they’ve heard on the street. They also resent poorly researched attack stories written by reporters who seldom remain in town long enough to suffer the consequences.

The craft of journalism was better served when publishers, editors and reporters held a substantial and long-term stake in their communities. Following in the footsteps of BusinessNorth founder Wayne Nelson, we pledge to embrace the practices that for 18 years have well served our customers and communities.

It won’t be easy. Conducting business in Northeastern Minnesota and Northwest Wisconsin has its challenges — high taxes, strong regulation, considerable distance from markets and an investment philosophy that leans more toward public than private.

But rewards far outnumber the challenges. Our region is blessed with a clean environment, fabulous natural resources and the wisdom to properly balance our needs and opportunities.

We welcome the chance to analyze and weigh in on the important business issues that affect our region and its people. And we pledge not to abuse the trust you have traditionally placed in this fine publication.

—Beth Bily and Ron Brochu

• Like our customers we are stakeholders -2/3/2010
• Pawlenty’s magic…trick -11/24/2009
• Scraping bottom -10/27/2009
• Crumbling street bricks: Metaphor for region’s lagging income -9/29/2009
• Addressing the real issues with the new appraisal rules -9/9/2009