I got an e-mail last night from the L.A. Times with the subject line: “New Home Foreclosures—Northern California,” which contained a solicitation from something called Zetabid, which is running a Northern California foreclosed home auction on November 20th, 22nd, and 23rd. (Zetabid appears to be part-owned by the L.A. Times.) Spamming for foreclosure sales: now that’s a sign of the times (and, yes, of the Times, too).
He’s mostly right about Zetabid. The Times web site describes it as a “venture of the Los Angeles Times Media Group, GoIndustry-DoveBid and CataList Homes.”
Well, they have to cover Sam Zell’s debt service somehow. They’re sure not doing it with their ever-declining circulation.
P.S. When this venture launched, the editor claimed the paper was not connected to Zetabid:
The Los Angeles Times is part of Times Media Group but has no connection to the new venture, said Times Editor Russ Stanton.
“We will treat ZetaBid like any other real estate entity from a coverage standpoint,” Stanton said.
So far, the paper appears to be living up to the pledge of objective coverage; an October 5 story was pointedly critical of such online services.
But if the paper is really clogging readers’ inboxes with junk mail solicitations about foreclosures, it would see that there is some connection there, Mr. Stanton’s claim to the contrary notwithstanding.