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The stabilization fund is intended to help states and school districts meet payrolls as tax revenue plummets in the recession.
Their company, Journalism Online L.L.C., aims to supply publishers with ready-made tools to charge Internet fees, an idea that has gained currency as advertising revenue plummets, but whose prospects of success are doubted by many media analysts.
When the inevitable recession hits, state revenue plummets much more precipitously than the economy, forcing painful cuts in government programs that benefit mainly the poor and middle class.
Despite a surface sense of normality in the capital, there is growing fear of an economic crash, as oil revenue plummets and foreign aid dries up.
Similar(51)
Revenue plummeted.
As a result, Internet ad revenue plummeted.
Fixed-income trading revenue plummeted at UBS and Merrill Lynch.
Hardware revenue plummeted 25percentto to $6.41 billion, compared with the first quarter of 2001.
Net revenue plummeted to $4 billion in 2010 from about $6.5 billion in 2006.
In Pontiac, tax revenue plummeted as General Motors pulled out and workers left.
Investment banking revenue plummeted 44percentt and its equities business income dropped 45percentt.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com