"We're all in this together," Schmidt was quoted by the Associated Press as having told the ink-stained wretches gathered at the annual conference of the American Society of News Editors (ASNE), aka the NewsNow: 2010 Ideas Summit, in Washington DC.

Grouping himself with the worthies who actually gather and publish the news, and not merely aggregate it as does Google, Schmidt said: "We have a business model problem. We don't have a news problem."

More ... http://www.theregister.co.uk/2010/04/13/schmidt_at_asne/