Posted on 09/22/2005 3:30:00 AM PDT by jimbo123
The New York Times was hit with more bad news yesterday when Standard & Poor's Rating Services put the company's long term debt on "credit watch with negative implications" after the company lowered its earnings estimates once again.
The news follows by one day the company's announcement that it will slash 500 jobs over the next six to nine months, including 45 newsroom jobs at flagship The New York Times and 35 in the newsroom at the Times-owned Boston Globe.
"The Credit Watch listing reflects New York Times' lower earnings guidance due to a softer than expected advertising revenue climate," said S&P credit analyst Donald Wong.
(Excerpt) Read more at nypost.com ...
Maybe they can apply for public funding and become the "Public New York Times".
And they're just starting to build their giant glass-and-steel ivory tower across from the Port Authority terminal in Times Square. The Sulzbergers will sh*tting wolverines fretting over cost overruns on that boondoggle. And God help them if the NYC real estate market cools...
New stock lows, unprecedented layoffs, a bearish industry outlook, angry left-wing moonbats running the show... HEY, LET'S BUILD A GIANT XANADU NEXT TO THE PORT AUTHORITY TERMINAL! AT THE PEAK OF THE REAL ESTATE BUBBLE! WHEEEE!
NY Times stock is heading down to $10/share in the long term and the decline will be fun to watch.
It seems that the one virtue of evil is that it consumes it's own handmaidens.
Their profits were just fine a two years ago.
Wish I could say it has been good to know ya, but I can't lie as well as you can and would never get away with it.
Can't wait until the day that you wind up as a tabloid.
Could that have been short selling??? Somebody with insider knowledge can make a lot of money shorting her company's stock.
I was reading an exchange on PowerLine and some important person from the NYT was huffing that all print media was losing market share and heck, the "far right NY Post and Washington Times" were simply toys of rich owners who didn't care about making a profit.
He left out that circulation is up greatly in those publications while the Old Gray Lady has been losing market share steadily for years.
PS Liberal media guy apparently forgot who Pinch Sulzberger was. LOL
Is it time for them to get carried away in a fit of the vapors (old term for flatulence) ? :D
Pinch isn't likely to be pinched by all this. He has a NYC gun permit, after all.
The financial shock that produced the firing..... They held out too avoided the firings till after it was too late.
LOL! At least he bothered to get one. William Raspberry wrote anti gun columns for years and had a gun without a permit. We all found out when he used it when there was a prowler in his house.
We are free to do as we are told.
NYT Phila Inquier etc are screwed
They are losing readership because of their left wing BS BUT they can't moderate or they will lose their HUGE left wing readership
That's what happens when your habit is to print proveable lies on the front page and the inconvenient truth only occasionally, and then on page 36D.
In the recently opened marketplace of ideas, "what we have here is failure to communicate".
Couldn't happen to a better bunch of guys.
Pity party for the Slimes...NOT
It must be that old means/ends thing.
Oh you wily FReepers. You don't fight fair.
Does this mean the Boston globb goes with em?
oh yeah....
snicker, snicker, tee-hee, guffaw!
Cheers
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