Reader's Digest filed Chapter 11 thanks to decreased consumer and advertiser spending and a highly leveraged debt structure. They probably need to saw off a few branches of loser publications, chop out some editor jobs, reduce payments to contributors (gasp), and change their font. (I always kinda liked the big print)
The Digest is an institution and it's rather sad to know that it is a victim of the economy and probably readership in this instant communication world. Hopefully the company can get its act together, dig out of debt, and certainly maintain publication. I have not submitted to Reader's Digest, yet it's nice to know it's there with the corny true life tales and "laughter is the best medicine" yarns. What other magazine stands the test of time in a doctor's office?
Stimulus...cash for clunkers...dollars for digest........