AOL CEO Tim Armstrong announced in a conference call with employees that about half of its 1,000 hyper-local Patch news sites will be closed or spun off over the next seven days, and that the reporters and editors at those sites will be laid off. (Romenesko)
Last week, you could have bought a replica NCAA jersey at Shopncaasports.com for about $60. All you needed to do was type in your school and your favorite college athlete’s name. The NCAA has discontinued the sales of that type of apparel, as part of its ongoing battle over the profits associated with the likeness of its amateur college athletes. (WSJ)
The year, in the movie “Elysium”, that Matt Damon’s character is struggling to live on Earth amid devastating income inequality and poverty. It may seem like a typical sci-fi dystopian epic, but there are clear economic themes. The New York Times explains, “the privileged few live in the ultimate gated community, a wheel-shaped space habitat, Elysium, that brings to mind an orbital Mercedes-Benz logo.” (NYT)
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