TM need to take the initiative

http://www.guardian.co.uk/media/greenslade/2011/jul/31/trinity-mirror-piersmorgan
The drip, drip, drip of revelations surrounding Piers Morgan’s time at the Mirror could, if the reports quoted by Roy are to be believed, be damaging to Trinity Mirror.
If the police and/or judicial investigations into the behaviour of tabloid newspapers over the last 20 years show that now-repugnant activities went on while he was in charge, there could be some severe damage to the group’s brands. Never mind the compensation to all the victims who might be found.
Morgan’s comments over the years haven’t helped. They hint of an arrogance that speaks of a culture of impunity redolent of Leona Helmsley, the millionairess who famously said only “little people” pay tax. I fear the police investigations may show the same about The News of The World and some other NI titles.
TM needs to grab hold of this issue and show that it’s on top of it by taking the initiative. As I said before, the review of systems and processes really looks too feeble — just not facing up to the real risk that needs to be quantified and dealt with. And, more importantly from an investor point of view, be seen to be dealt with.
Yes, apologies and payouts may be tricky, but the sooner they can get any of that, if it has to be done, out of the way, the sooner they can move on and maybe even portray the group as the honourable face of tabloid journalism (which fits well with the legacy of Hugh Cudlipp) and hopefully reap a revenue boost from advertisers and readers fleeing from NI titles tainted by the years of revelations to come.
If they can’t do that and worse comes out soon, Sly Bailey’s future could be in doubt. She knows how important the brands are and she’s proven herself to be pretty shrewd in the past, so expect action soon.