Okay, I have a flair for the obvious. (Why else would I have felt at home in magazines?) So here’s my two cents.

The magazine industry’s current hell only starts with cultural tsunami stirred by the Web. Yes, there’s been a migration of eyeballs to the Web. Yes, there’s been a migration of advertising to the Web. And yes, yes, yes, the Web is becoming a favored source for information and ideas.

The deeper problem is the entrenched structures and conventional wisdom of the publishing industry.

For example,The overwhelming majority of marketing and financial decisions are based, in my opinion, on enticing advertisers and retailers. Not a sin, per se. But aren’t they forgetting something? Oh yes, the readership.I

I know firsthand that publishers like, respect, maybe even love their readers. They adore the reader’s passion, knowledge and commitment. But I think that ultimately publishers do not see readers as customers but as bait.