Even as we count down to the demise of the P-I, and do so without gloating, none other than Time magazine is offering some advice on the declining state of the newspaper industry. Walter Isaacson says that if you love the P-I (or any paper) and want to see it stay in print, then we've all got to "micropay" for the stories we read. Instead of registering to read something online, which we all hate to do, Isaacson envisions something like the iTunes model, where we just click once for our micro payment on a newspaper Web site, which keeps the printed version alive. Um, maybe. I'm not sure I'd go to Time magazine for advice. In a recent, depressing NYTchart (which works way better in print, BTW), the magazine is shown to have dropped 24 percent in ad pages over the past four years (the industry average is down 11 percent). I think that's the problem for the P-I, Time, and everybody else. Web revenues just can't keep up with the decline in traditional print advertising, no matter how good the underlying editorial product. In other words: micro payments from readers can't offset micro revenues from advertisers.