This mid-sized newspaper tried to report its way out of decline and failed

The Reading Eagle example shows that putting out a good paper just isn't enough anymore

Peter Barbey’s great-grandfather John started the Reading Glove and Mitten Manufacturing Co. 120 years ago. Known today as the VF Corp., it owns outdoorsy brands like Timberland and North Face. In its last fiscal year, VF reported nearly $14 billion in revenue and $1.5 billion in net income. Its market cap hovers around $35 billion. The Barbeys, who still own around 20 per cent of the company, are very rich.

Barbey, 62, went to the University of Arizona. He met his wife, Pam, there. They planted roots in Phoenix, where he invested in commercial real estate while also running the