In Open access jeopardises academic publishers, Reed chief warns, The Media Guardian reports,

The rise of open access publishing of scientific research could jeopardise the entire academic publishing industry, according to the chief executive of Reed Elsevier, the world's largest publisher of scientific journals.

Writing in the company's in-house Review newsletter, Sir Crispin Davis warned that asking researchers to pay for their work to be published but then making it freely available on the internet "could jeopardise the stable, scalable and affordable system of publishing that currently exists".

Uh-huh. And if Elsevier's contribution is so "stable, scalable and affordable" then why is it that major academic institutions have drafted policy statements condemning Elsevier (either directly or through implication) in response to high individual journal prices and costly journal subscription packages? But I guess it is a stable system for making them profits, whereas open access does threaten the "commercial" publishing system.