The Bancroft family will send its proposal for a board to preserve the Wall Street Journal's editorial independence to Rupert Murdoch as early as today. In the wake of yesterday's organizational realignment by new Managing Editor Marcus Brauchli—which sends Jim Cramer into paroxysms of fury—the paper announced it will raise its newsstand price to $1.50 an issue, which is less significant than it seems because no one actually buys the Wall Street Journal, they get it free at work. As the union representing Dow Jones employees flails about in its efforts to find an alternate bidder to Murdoch, the Guardian's Roy Greenslade defends the News Corp. head: "He knows how to run papers."

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