Two events rocked the newspaper industry last week. One was positive, the other negative. Both happened on the same day, but guess which one got the lion’s share of attention?

     Doing what good newspapers do, the New York Times broke a story about still-evolving plans of the venerable Times-Picayune in New Orleans to reduce its publication days from seven to three – Wednesday, Friday and Sunday.

     The announcement was one of those that takes one’s breath away, a crack in the foundation, if you will, or maybe a sign of the future – but frankly, not surprising, for the world of big city newspapers is different.

     There has been an uproar in the Big Easy – subscribers and readers are upset, the business community is upset. Even politicians are upset! Online petitions are popping up asking for people to sign them in hopes the owners of the 175-year-old newspaper will rethink their strategy.

     At almost the same time, another dramatic but positive newspaper-related story made the news. Unfortunately, it was overshadowed by the announcement in New Orleans. In recent weeks, Berkshire Hathaway made a major foray into the newspaper business with the purchase of 63 community daily and weekly newspapers. The suburban and rural newspapers they purchased have a strong presence in each of their respective communities.

     In a letter to the editors and publishers of his newest acquisitions, Warren Buffett told of his reasoning behind purchasing the community newspapers. He told them of his belief in the community newspaper industry and the strong future he believes community newspapers have and the opportunities before them.

     Buffett, of course, is the world-renowned investor also known as the “Oracle of Wall Street.” He and his stockholders have made billions investing in companies and industries that he believes have a strong ability to grow. When Warren Buffett speaks, the stock market listens. Mr. Buffett said in this letter that Berkshire buys for keeps and that they would likely buy more community newspapers in the coming years.

     The digital era has everything in flux. Not only newspapers, but also radio stations and TV stations, have been impacted. The entire media landscape is trying to figure out which way to go. Even Mark Zuckerberg at Facebook is scratching his head these days.

     Prior to 2009, the term “newspaper” was inclusive of every newspaper, from the smallest community weekly to the largest metro daily. In the last few years, the definition of newspapers has been divided into two distinct groups – metro newspapers and community newspapers. The announcement at the Times-Picayune and Buffett’s letter further shows the distinction.

     The Times-Picayune and papers like the Clarion-Ledger in Jackson are metro newspapers. The DAILY LEADER is a community newspaper.

     Mr. Buffett’s opinion is not startling to us, for we in the community newspaper business have known that all along. We are just delighted to receive some confirmation.

     However, we have some lessons to learn from our big city newspaper friends, which Mr. Buffett points out to his editors. We cannot forget our community; we have to provide information that is indispensable to our readers. We have to cover all aspects of our readership area’s life. We have to be flexible.

     We think we do a pretty good job, but we know can do better. You can help us do so by telling us what you think we are missing. Story or photo suggestions are always welcomed. Send me an email – bjacobs@dailyleader.com – and give me your suggestions.     

     You can help us in another way, too. When you shop in this area please make it a point tell the local manager/owner you saw his/her ad in The DAILY LEADER. They need your feedback; advertising is expensive and they want to know the impact of their marketing investment.

     We think Warren Buffett is a pretty wise man. Our goal is to prove him right.

     Write to Bill Jacobs at P.O. Box 551, Brookhaven MS 39602, or send e-mail to bjacobs@dailyleader.com.