From Jeff Jarvis:

The newspaper industry is spending $75 million to argue that it’s not screwed. How much better it would be to spend $75 million on innovation so, indeed, it won’t be screwed.

Well said. I recently talked with somebody who was spending a few hundred thousand a year on advertising, even though their research had shown that two-thirds of their new customers came from word-of-mouth/referral. Like above, how about spending that money to improve your product/service. Just a thought.