I’ve always wondered about those guys selling the Evening Herald at busy traffic junctions. The Herald costs €1, 23% is VAT which leaves 77 cents gross profit. Lets allow 30c per copy for their cost of production- i.e. printing, journalists, copy editors, editors, office rental, rates, ESB, broadband, phone bills and other expenses.

That leaves a net profit of 47 cents per copy. So if the sellers are on minimum wage of €8.65 an hour then you have to add employers PRSI of 10.75% on top, bring the real wage to about €9.50 an hour. At 47 cents net profit they would have to sell 20 papers per hour just to break even on the sellers salary. But selling 20 per hour isn’t credible with traffic moving every 2 minutes, I just don’t buy it and more often see them sell none than sell one.

So one of two things is happening; either A) The Herald is subsidised and is making a drastic loss or B) the sellers are being paid less than the legal minimum wage.

If it is B) then I would suggest that the Journal has an investigative opportunity into wage exploitation in the print media. If it is A) the effectively the Herald is like our banks- a zombie being propped up.

You didn’t account for advertising there, Derek. Increased circulation and readership has its own benefits.

You must have very little idea of how the Chinese media is regulated to say that!

The online version of the indo has got worse and worse and the paper version will no doubt follow suit. Also this coincides with Denis O’Brien getting control of INM – he doesn’t waste anytime.

That was the point I was making.

I’ve been to China and work for a Chinese company so I’d say I know exactly what I’m talking about.