Regionals showing 'economics of the madhouse'

Pithy comment from NUJ general secretary Jeremy Dear on the state of the regional press, from his blog: "It is to borrow a phrase the 'economics of the madhouse' that an industry which has had 15 years of huge profits and which is still for the most part profitable is hacking at its very core, axing hundreds of journalists and in effect destroying the ability of many of their titles to be able to thrive the other side of a recession."