Survey shows social networking sites are costing U.K. firms $2.3B a year, but they shouldn't be banned.

According to a Forbes Magazine's article, Social media costs U.K. companies $2.3 billion annually in employee time and work resources. Quite a lot, according to a new survey by TNS. From the 1,460 office workers surveyed by TNS, 57% said that they used social networking sites during the working day for personal use, and were on average spending 40 minutes on these sites each week, according to the survey. That equates to just under a full working week being spent or "waste" each year on social networking sites during working hours.

U.S. newspaper circulation falls again

According to the Audit Bureau of Circulation, the average weekday circulation of nearly 400 dailies slid 10.6% from April to September 2009, compared with a 7.1% decline during the previous six-month period. The Los Angeles Times indicates that newspapers have seen their circulation decline sharply in recent years as readers increasingly have turned to online sources for news.

How a Beverly Hills bakery is keeping up with customers on Facebook

Sprinkles Cupcakes in Los Angeles is building buzz for its sweet treats by posting a secret word -- such as "ganache" or "love" -- on Facebook that fans can whisper in a store for a free cupcake. The company uses its fan base of 70,000 to decide its next location, as well as address customer feedback. "Requests. Complaints. We're watching. It's not just me, it's our entire team," said bakery President Charles Nelson.

Make-A-Wish Foundation is using social media sites

A Miami Herald's article mentions how Make-A-Wish Foundation of Southern Florida is taping into social media sites by using YouTube and Twitter to share the wishes of children with terminal illnesses and encourage people to donate to their cause. "We're looking to share our stories and our mission -- and if fundraising comes with it, that's great," said Richard Kelly, the foundation's chief operating officer.

Thrillist's Jamaica Trip

Mike Albo, The New York Times Freelancer Loses Gig Over Thrillist/JetBlue's Jamaica Trip. He was among the 150 journalists and guests who enjoyed a free round-trip from JFK International to Montego Bay (in Jamaica) last weekend for free with complimentary food, drink, 2 nights lodging at the Iberostar Rose Hall resort, where they had beachfront balcony rooms and personal butlers, courtesy of the consumer e-newsletter Thrillist and JetBlue (JBLU), among a host of other sponsors. All they had to do was to repay with tons of tweets and Internet hype. Apparently Kurt Soller, a Newsweek's staff writer who took up the invitation had been given permission by his editor and the publication is still planning to reimburse Thrillist for the trip, since the invitation stated that "Media rates are available for reporters who feel obligated to pay for the trip. Tell us if you're interested and we'll let you know what they are." Fox joined CNN in saying the trip violated standards and that they would also pay for the travel costs.

2009 - Time for Cuts

According to WWD, Time Inc. is gearing up for what has been a recurring autumn event at the publishing company — a round of layoffs across multiple magazines and divisions. But when are the cuts coming? According to several sources, the company is expected to make a 6% staff reduction across the board next week. It will follow Condé Nast. The New York Times. Forbes. By the end of the year, all of these media organizations will have cut their staffs to meet the challenging economic times facing the entire industry. These are just the realities of the fourth quarter, readers of the bottom line tell us.