Portfolio still living on smoke and mirrors until the circ numbers come out

Today's New York Post gives a very wide berth for Portfolio Publisher David Carey to post about the large amount of ads the magazine is getting, although the number is getting lower and lower each month.

While it's been well documented that the ad sales people have been doing their job and editorial people are abandoning ship, there's that little area of concern called circulation. It's an area Carey doesn't address this time out because it backfired on him when he boasted the first issue sold out (and we all know that was far from reality).

To borrow the financial terms of this magazine, the Reaper is short-selling Portfolio for the long run once the newsstand numbers start appearing. We shall see if the readers will continue to be there to support this beast, because if they don't, those ad page numbers will be dropping a lot steeper.