10:29 AM

3.8.07 Valleywag: Red Herring on its death bed

ValleyWag says that Red Herring magazine will shutter the doors anytime now.

Claims that the magazine had a $1 million infusion of cash coming in was a "lie." Staffers' paychecks arrived late and/or the magazine didn't print.

The magazine has failed to print several issues.

Caulfield's out. Managing Editor Eric Wahlgren is rumored to be heading out too (going to something science-related), which would leave quite a hole at the top of the masthead. Of course, the cash-starved RH keeps hiring new Editorial Assistants and promoting them to Journalists -- the perfect solution to fill the dying ranks from the bottom, i suppose. Journalist Jennifer Kho is likely heading out too, if I'm correct. There goes the energy reporter! The HR director (Kevin Lee) quit a few weeks ago too. I think that, at this point, virtually everyone is shopping their resume out... at least, I should hope they are.

In true publishing industry fashion, one day the doors will just be locked.