But not everybody’s pessimistic about the future of the news business. In fact, there are quite a few optimists who believe the trauma hitting the industry will lead to new business models and opportunities for those editors, reporters and other workers who keep up with the changes.

Here’s just a sample of what commentators are saying about the transformation that’s now taking place, and why it could be a good thing:

Why we should feel bullish for the future of journalism – DigiDave, aka Dave Cohn, wrote this meditation on the future of the news biz from an airport lobby on little sleep. Put aside his youthful enthusiasm – and the f bomb he throws in for effect – and he makes an interesting point about experimenting with business models. Try enough, he says, and some will stick. Cohn doesn’t just talk the talk. With the grant money he won in a Knight News Challenge last year, he’s helped start Spot.us, a marketplace for news where readers can write in to request stories they’d like to see written and donate money toward making it happen.

For other business models, look at FieldReport.com, which is paying thousands of dollars for personal essays, or investigative news Websites such as ProPublica, Environmental Health News and BailoutSleuth, which are being funded by philanthropists or foundations – a throwback to the days when newspapers were owned by wealthy captains of industry.

The market and the Internet don’t care if you make money – News organizations can’t live by the same assumptions they always held about their business, says new media analyst Scott Karp, on Publishing 2.0. The market doesn’t care about traffic or eyeballs, it cares about networks, something Google, Facebook and YouTube have already figured out.

Why it’s a great time to get into journalism – To those who risk much will come great rewards, says social media expert Paul Gillin, who blogs at NewspaperDeathWatch. In this post from October, Gillin recounts the story of one enthusiastic college student who parlayed a summer intership with a major daily newspaper into a paid blogging/reporting gig there.

Which brings me to FieldReport.com. The Website has put out the equivalent of a casting call for personal essays, the more the merrier, and the best ones can win thousands of dollars in prize money. There are a few catches. Essays, or “field reports” to use the Website’s lingo, can’t have been published anywhere else and have to be written by and about the person submitting them. If you want to enter, you have to agree to review and rate essays written by other participants.

FieldReport.com is backed by several Silicon Valley entrepreneurs who believe they can eventually turn the essay Website into a financially self-sustained venture. Some of long-time freelance writers I know are skeptics, especially about copyright issues. But the site has recently been written up in magazines and newspapers including Time and SFGate.com, which lends it some credibility.

FieldReport.com is doling out $1,000 for the top essay in each of 21 categories in November and December, and will give away $250,000 to a grand prize winner announced in January. If you’re interested, you can read more about the contest rules and requirements here. Irish freelancer Beth Morrissey posted this convenient list of FieldReport.com’s 21 essay categories here.