Posted on 10/17/2007 10:22:01 AM PDT by MrEdd
Ed Lasky The decline of the New York Times as a reputable newspaper has been matched by the decline of its business management. The running (or running down of the newspaper) by "Pinch" Sulzberger, descendant of the family which had purchased and remade the paper generations ago, has progressively destroyed the value of the Times (the apple does fall far from the tree-especially after several generations). The paper has suffered disproportionably more than its peers on the stock market. It will suffered another indignity this morning.
A huge block of shares was sold early this morning off the New York Stock Exchange. This source of these shares is probably Morgan Stanley, where activist fund manager Hassan Elmasry has been pressuring management to undertake changes at the company to boost its plummeting stock price. He has been stymied by the dual-class stock structure of the corporation, which grants to the Sulzberger family super-voting rights that have protected the position of Pinch. In any other corporation subject to the viscidities of value creation and destruction, he would have lost his job years ago. Instead he has been coddled and shielded from shareholder activism.
Today, in the face of a stock market that has been hitting all-time highs, the New York Times (stock symbol: NYT) opened at a brand new 52-week low.
Now, that is some news that is fit to print.
‘Rats leaving the sinking SCHIPP?..............
How low can you go?
Never invest in a company where ownership and control are separated. It is far too likely to be the personal toy of the controllers at the expense of the owners.
It will drop more. I wonder if it really ever was in years past a newspaper which sought to report facts instead of promoting just opinions of it’s editors?
The family will buy everyone else out when the price per share is to their liking.
Interesting to see how liberal theory collides with economic reality here.
Basically, the NYT has given Pinch ‘tenure’ with this structure.
Anybody that requires ‘tenure’ be it in academia or at a newspaper is admitting they can’t produce positive results.
How can they sell us out when that's OUR forte?
Timmmmmmmmmmmmbbbbbbbbber...............!
http://online.wsj.com/article/SB119263323873462040.html?mod=yahoo_hs&ru=yahoo
Morgan Stanley Sells New York Times Stake
By Sarah Ellison
Word Count: 168 | Companies Featured in This Article: Morgan Stanley, New York Times
A money-management arm of Morgan Stanley sold its 7.2% stake in New York Times Co. this morning, according to a person familiar with the matter, ending a more than two-year battle with the publisher’s ...
More:
With Morgan Stanley dumping its stake in New York Times, Elmasry is signaling defeat in his efforts to change the company, but he also is showing that he sees further declines in the company’s stock price.
Good news Bump!
Douche Baggio
Sinking of the USS New York Slimes!
If there is a seller there is a buyer. I wonder who the fool(s)was/were?
"Pinch" Sulzberger... has progressively destroyed the value of the Times...
The paper has suffered disproportionably more than its peers on the stock market.
It will suffered another indignity this morning.
.
Bwahahaha!
the NYT is not fit to read. I Hope it goes under and takes all it’s rats with it.
Try ten-year low.
Looks like Morgan Stanley hasn’t liquidated its entire position today. Looks like they didn’t want to totally crash the stock today.
Isn't that great? It's going to be a slow bleed.
What financial genius would try to keep the NYT alive if its not a viable profit making business. It's not because of financial acumen of investors of the NYT that keeps their support, it's access to propaganda. At the international level, the Leninists and the corporatists are connected in a symbiotic tie. The Leninists provide the wrath to make governments push tax revenue schemes such as global warming. The corporatists such as big oil are quick to buy press to show how compliant they are with innovation in green oil technologies. So while this hustle is going on, the political crooks like Clinton are getting their retirement kickbacks in high priced meaningless speeches.
Most journalists are about as objective as a trial lawyer. They line up their talking points to persuade the jury of public opinion. It seems that lawyers have to work harder because juries are forced to listen to them.
NY Times stock price is the same as it was in 1986!
True, they don’t want to accused by the cry baby leftest of “destroying” the NY Slime with capitalism.
But if you listen closely you can hear the gurgling sound of the NY Slime picking up speed as they circle the drain to hell.
I wonder who the fool(s)was/were?
Pinch et al
Yet Newscorp is near its 5 year high and not too far off of its all time high from back in the bubble days of the late 1990’s. The free market is speaking here.
So it begins.
From an old chartist’s perspective, the history of such major block sales is that if the stock does not soon recover to pre-block-sale trading levels, a large number of smaller block sales will quickly follow.
Morgan Stanley owns 10 million or so shares, while volume so far today is only 1.7 million over normal. I’m not totally sure how this works, but it looks like they’re trying to sell it off in waves. Maybe they’ve been liquidating quietly up until today and decided to go public on the sale today as a final fu to Pinch and his minions.
Very sound buckeye advice.
Bingo. FReepers really know their stuff.
I wonder who would buy it?
Hey guys lets keep this to ourselves, no need letting the urinalist in on it. Would like to know if urinalist working for NYT have invested their retirement funds in the stock. Imagine wailling we will be subjected to when a urinalist looses his entire life savings on the NTY!!!
” I wonder who the fool(s)was/were?”
Probably the families who own the controlling super shares.
Oh, that’s such unfortunate news... *chortle*
Keep in mind, Morgan Stanley will control even more shares in institutional accounts and they will make other holders very nervous by bailing out. There departure will also hurt the debt rating.
This maneuver may allow Morgan Stanley to pick up the NYT at bargain prices later on.
I think there is a pretty simple solution to saving the paper and keeping the company running, but it is radical.
What a nice chart.
Looks like Putz is buying back his own crap.
The NY Times has done everything they can to get in here!
The NY Times has become a sorry excuse of a newspaper, run by liberal hacks that are completely incompetent and unable to mask their bias in reporting.
You couldn’t pay me $100 to read that trash of a newspaper from cover to cover. Its highest and best use for mankind relegates it to toilet paper.
Do you think Soros will bail them out?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.