For many decades, while The London Free Press was owned and operated by Walter Blackburn, the newspaper was not involved in a strike. Blackburn kept unions at bay by forming his own in-house organization to look after employee concerns and complaints. Under Blackburn it worked.
Under Walter Blackburn the newspaper did not have a layoff, even when the economy was in recession. Blackburn said when times were tough the employee who could best weather a downturn in the economy was him, the newspaper owner.
If he laid off a pressman, that man's life would be in tatters. His family would suffer. Walter Blackburn, on the other hand, kept his chauffeur driven car, he and his wife wouldn't lose their home nor would his children drop out of university.
Once when a longtime employee had a death in the family, a death in England, the employee was given time off to attend the funeral and the money to cover the trans Atlantic flight home. Blackburn was a capitalist, a generous, caring capitalist.
After Walter Blackburn died things changed around the paper. Slowly at first and then the paper was sold to an expanding chain. And then that owner, a rather small fish, was gobbled up by a much bigger company, a much larger fish. Today the paper is but a small memory of the local media empire Walter Blackburn built during his lifetime.
My gut feeling is that if local newspapers had remained under the control of owners like Walter Blackburn and others of his ilk, daily newspapers would be much different today. Walter Blackburn was a visionary. This is not a word I would apply to the hedge fund owners of today.