And, that got your attention.

Shortly after the report was published in May 2011, you fired off an email to me, saying it was “unbelievable” we would focus on your cost-cutting efforts, disputing a quote that we did use and noting that, as a private company, you couldn’t tell us more. You also invited me to look at your company’s internal data, but under the umbrella of a strict nondisclosure agreement (which I wouldn’t sign). Finally, you did email me this prediction: “We will be within 1 percent of replacing every lost print ad dollar this year with digital ad dollars. A first anywhere.”

That prediction didn’t come true, and I’m sorry it didn’t. You and your colleagues deserve a lot of credit for aiming so high.

I don’t think you erred in pushing your company so far, so fast. But I do think that your sell of statistics that were based in percentages, not hard numbers, provided a patina of optimism when a more realistic view—or even a less transparent one—would have better served your interests.

I am regularly amazed that so many journalists trumpet companies’ growth statistics with so little context. That tells me that reporters and editors aren’t pushing hard enough, and perhaps, journalism schools aren’t being rigorous enough. We need to do a better job of encouraging journalists to be skeptical, even when they’re writing about companies in the same industry that employs them.

I hope that Digital First can emerge from this latest challenge better equipped to cope with the significant headwinds that affect local media companies. That would be greatly encouraging to all of us who care about this business.

Best regards,

Bill Grueskin

(Further reading: Ryan Chittum digs out the numbers behind the JRC bankruptcy.)

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Bill Grueskin is the dean of academic affairs at Columbia University Graduate School of Journalism. He is a former editor at the Miami Herald and Wall Street Journal.