Bloomberg reported yesterday:
New York Times Co., the third- largest U.S. newspaper publisher, will consider cutting its dividend after reporting a loss on severance costs and a steeper drop in advertising sales.The rest of the story’s here.
The payout will be reviewed ``to determine what is most prudent in light of the overall market conditions,'' Chief Executive Officer Janet Robinson said today in a statement. Standard & Poor's cut its debt rating on New York Times to junk after the results, increasing the pressure on the company to reduce the dividend that pays the controlling Ochs-Sulzberger family $25.1 million a year.(emphasis added)
Comments:
If you’re so cash strapped now you can’t afford even the NYT’s junk bonds, don’t be downcast.
The Times has plenty of junk you can have at no cost.
Yesterday, for example, as Standard & Poor’s was downgrading its bonds, the NYT published its editorial page endorsement of Sen. Barack Obama.
That endorsement, which the paper considers its “official” endorsement, comes months after the paper began publishing Obama endorsements in its news columns. The Times' officially terms those endorsements “news articles.”
Hat tip: BN
2 comments:
This article reveals another good reason why the biased MSM is on life support. Multiply this dishonest reprobate Michael Hastings, by the thousands of others, and it becomes clear our election system is in near ruin.
Little creeps like this man had a hand in deciding our candidates for us. I still think the American people can see through an underground marketing scheme. Even a slick snake oil salesman, is still selling snake oil in the end.
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FOXNews.com
"Former Newsweek Reporter Admits he wanted Giuliani off the trail.
A former Newsweek reporter admitted in an article this week that he has no objectivity and imagined disabling Rudy Giuliani so he wouldn’t run in the presidential primary race last year.
Michael Hastings wrote in GQ magazine that he had a “recurring fantasy” that he could somehow stop the former New York City mayor in his tracks."
The NYT is its own worst enemy. The further left it goes, the more its readership declines. Is NYT really THAT stupid? Yup.
Tarheel Hawkeye
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