We journalists have our faults, but we also have a lot to offer. Too often we've been dismissed as budgetary adolescents who can't be trusted to conserve our resources. That is wrong. Journalists and not accountants should seize responsibility for the financial health of our newspapers so journalists can make decisions about the size of our staffs and how much news remains in our papers and web sites.

The biggest challenge we face -- journalists and dedicated newspaper folks alike -- is to overcome this pervasive culture of defeat, the psychology of surrender that accepts decline as inevitable. This mindset plagues our business and threatens our newspapers and livelihoods. I believe that when Sam Zell understands how asinine the current budgetary system is, he will change it for the better, because he is a smart businessman and he understands the value of wise investment. A dollar's worth of smart investment is worth far more than a barrel of budget cuts.

This company, indeed, this industry, must invest more in solid, relevant journalism. We must integrate the speed and agility of the Internet with the news judgment and editorial values of the newsroom, values that are more important than ever as the hunger for news continues to surge and gossip pollutes the information atmosphere. Even in hard times, wise investment -- not retraction -- is the long-term answer to the industry's troubles. We must build on our core strength, which is good, accurate reporting, the backbone of solid journalism, the public service that helps people make the right decisions about their increasingly complex lives. We must tell people what they want to know and -- even more important -- what they might not want to know, about war, politics, economics, schools, corruption and the thoughts and deeds of those who lead us. We need to tell readers more about Barack Obama and less about Britney Spears. We must give a voice to those who can't afford a megaphone. And we must become more than a marketing slogan. I know I can rely on this newsroom to do this.

If you have to consider closing foreign bureaus and cutting back in other parts of the paper to free up the money needed to cover the Olympics and the most historic political campaign in modern times, well to me that's no plan for the future, that is not serving the interest of readers. It is simply stupid.

Even though we face tough and demanding times and I sympathize with those who face daunting revenue challenges, I don't believe that we will succeed long term by giving up; by taking steps that I think will gradually diminish newspapers. I decided to take my stand and say: Change the way we do things. I made that decision and I will live with the consequences. And when I walk through the Globe Lobby for the last time, I can guarantee you that I won't regret taking that stand. I believe history will prove me right. When this industry stops relying so much on cuts and starts investing in Journalism, it will prosper because it will be serving the best interests of our readers. That's when we will prosper.