Posted on 10/23/2008 4:23:32 PM PDT by VOA
NEW YORK, Oct 23 (Reuters) - Standard & Poor's on Thursday slashed
its ratings on the New York Times Co (NYT.N: Quote, Profile, Research,
Stock Buzz) into junk territory and cited concerns about the
newspaper publisher's revenue outlook, after it posted a
third-quarter loss.
...SNIP...
It cut the Times' rating three notches to "BB-minus,"
three levels below investment grade, from "BBB-minus."
The outlook is negative, indicating an additional cut may
be likely over the next one-to-two years.
(Excerpt) Read more at reuters.com ...
Couldn’t happen to a nicer liberal rag. LOL
The junk rating matches the output of the newspaper. Well deserved IMHO.
Yo, Chode, you still have that fail pic?
Sweeeet!
There is a silver lining.
Let’s hope these commie, anti-American bastards choke on this big-time.
The NYT has been junk to most of us far longer than Oct. 23.
Good news tonight!
That righteous wind must be blowin’!
As promised in lead post:
additional info on the “junk” status of The New York Times.
Moody’s May Cut New York Times to Junk, Stock Dives
http://blog.wired.com/business/2008/10/moodys-may-cut.html
“
Things are looking grim at the Times today. The newspaper announced low
Q3 earnings and the possibility that the newspaper may default on
its debt today, and Moody’s says that they may downgrade
The New York Times’ stock to junk status.
“
Yeah!!!! We won. Conservative can prevail.
In that case, it should be a 'trash' rating.
LMAO someone gets it
I’ll be happy when they just close the doors and auction off the presses.
HEHEHEHE! I like it. Good job!
tip of the hat to another Freeper’s thread on this topic:
link to:
New York Times Stock below $10! (all-time low)
Posted on Thursday, October 23, 2008 12:33:52 PM by montag813
http://www.freerepublic.com/focus/news/2113314/posts
The NYT has been junk for many decades. It is nice to see that it’s credit rating has caught up with it’s credibility rating.
What am I gonna wrap my fish in?
This is the best news I’ve read all day.
Telling lies in the newspaper business......serious morons running the NYT.
...well, we could’ve given S&P that news about NYT being “junk” a long, long time ago!!!!!!!!!!!!
Amen to that!
Maybe Pinch will finally get the boot. It’s a mystery how he’s been able to go on so long. Maybe it’s because the next generation of Sulzbergers appear to be just as dumb as Pinch. Maybe the stockholders will finally be able to take control of the paper, replace the editorial page writers and install a credible CEO.
Socialists are not good at making a profit. To quote Barney Frank “Don’t worry there are still lots of rich people out there we can tax”. When given a choice to spend money on socialist programs people just say no. And the Times is just that...A Socialist program.
Here are a few interesting (and “I’m shocked, shocked!” to tell you
UNDER-REPORTED news tidbits from the MSM Deathwatch...that I
stumbled across in FR’s archives as I did “due diligence” to avoid
a double-posting of the downgrade of NY Times to “JUNK”!!!)
Granted these are from about 2 years ago...and maybe these dino-stocks
have recovered.
But I ain’t gonna’ waste time researching these losers.
Too much GOOD beaten-down stock is available on the NYSE and NASDAQ!!!
Moody’s cuts Tribune to “junk” on share buyback (Dinosaur Media Extinction Alert)
Rooters ^ | June 15, 2006 | Staff
http://www.freerepublic.com/focus/f-news/1649849/posts
Moody’s cuts Knight Ridder, McClatchy to junk (Dinosaur Media Extinction Alert)
Rooters ^ | April 20, 2006 | Staff
http://www.freerepublic.com/focus/f-news/1618566/posts
I can’t wait to there stuff on Ebay :)
Much like the product...
Presstitutes are troubled
this one??? 
hahahahahahahhaha
I thought it was a bottom for the bird cage, didn’t know it actually had some adds in it.
Don’t think it has too many...
ooops.... forgot to ping the mainman on the case
thanks to all respondents...just had to mention the NYTimes junk status
to the forum.
If you don’t see it in your local newspaper, it may indicate they
are too dependent of the news service from the NY Times.
And/or, their reporters don’t want to jeopardize any chance they have
of one day working at The Old Gray Lady.
In other words, their highest “professional” aspiration is to be
a high-level “presstitute”.
Not just a low-status prestitute at a small-circulation rag.
Time to do the Obama thing and euthanize her.
http://online.wsj.com/article/SB122478493122263159.html?mod=yahoo_hs&ru=yahoo
* OCTOBER 23, 2008, 3:46 P.M. ET
N.Y. Times to Review Dividend as Ad Slump Continues
By RUSSELL ADAMS
New York Times Co. said it will consider cutting its dividend as the publisher seeks to free up cash amid accelerating declines in newspaper advertising.
The company revealed its intentions as it reported a 51% decline in net income for the third quarter and said it could write down the value of the Boston Globe and its other New England media properties by as much as $150 million.
Net income was $6.5 million for the quarter, down from $13.4 million in the same period last year. Total revenue declined 8.9% to $687 million.
Also Thursday, Moody’s Investors Service put the company’s debt on review for a downgrade into junk territory in light of a dim outlook for newspaper advertising in 2009 and concerns about future liquidity.
snip
BooooHoooo.
A dividend cut would make it easier for the company to meet its credit metrics, said Moody’s analyst John Puchalla. But such a move also could damage the solidarity of the Ochs-Sulzberger family, which controls New York Times Co. through ownership of a special class of super-voting shares. The dividend pays family members over $25 million annually, an amount that has increased over the years in continuation of a tradition of richly rewarding shareholders at all costs. A cut could reduce some family members’ incentive to hold onto the company.
This is the slowest slow death I’ve ever seen. I’m not an euthanasia enthusiast but put it out of its misery already…geez.
If Obambi wins there will be a government bailout of the NY Times. They will get to “borrow” huge sums of taxpayer money. Pravda outlived the USSR and the NY Times will outlive America as we knew it.
pardon the ping...
just thought y’all might be interested in this snippet from today’s news
Sorry Steve0 but if the election goes the way the MSM wants, there will be no conservative victory for a long time. Lib Dems will run EVERYTHING and the NYTimes will get a breath of fresh air. Off goes talk radio as we know it and it’ll take another thirty years to recover, like after Carter - who’s still a hero to some - like the Nobel dopes.
Joseph Goebels is shedding a tear in his grave.
The rest of the world has known that for decades.
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