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Mr. Jones traced the decline of Paper Mill audiences to the early 1990s.
"When debit cards were introduced in the early '90s, that was the beginning of the slow and gradual decline of paper checks and cash," said Red Gillen, a senior analyst at Celent, a research and consulting firm on technology and financial services, based in Boston.
The fact that a report like this can be published without any kind of bitter commentary on the decline of paper books is telling.
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As one longtime reporter for the paper, who asked to remain unnamed, told me on Wednesday, "It's not just the general decline of papers.
America's GDP growth rate was revised down to 1% at an annualised rate in the second quarter.Barnes & Noble posted another quarterly loss, dragged down by a continuing decline in sales of paper books at its stores.
The fate of Nokia and the decline of Finland's paper industry have forced the country to rethink its economy and revamp its culture to move towards a more daring approach to challenges presented by a highly competitive global economy.
His gains were tempered to some extent by the precipitous decline in the value of paper currencies, which he held in large quantities and speculated in.
Asked if such efforts could accelerate the decline of troubled Bay Area papers like The San Francisco Chronicle and The San Jose Mercury News, as some experts have predicted, Mr. Hellman said: "I think that's a reasonable question.
"Now, they have lost hopes and are in a state of decline," the paper said.
But, as sales of paper maps decline year-on-year, and usage of digital apps and devices rises, there is a sea change taking place in the way we consume and use geographical information.
The establishment of an Alcan aluminium smelting facility in the 1970s 5 mile north along the river slowed this decline, as did the import of paper from Finland.
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