Code red: Utne Reader, one of those magazines I consider great but never look at and have no desire to, is undergoing some changes, according to the NY Times. I like its concept of being a Readers’ Digest for thinking liberals. I guess that’s a dwindling market, however. Or maybe, they now get all they need from the cash-flow positive folks at Slate. I know lots of magazines which could get to cash-flow positive after an investment of $20 million, if they didn’t have to service the $20 debt. Also, at Microsoft, I bet they spend $7 million a year (Slate’s revenues) on Twinkies. One last rant with the NY Time headline on the Slate story: The headline, “Slate Sets a Web Magazine First: Making Money,” is wrong. Flat out wrong.