A Thirst for Black Ink From Good Papers (Richard Cohen Stuck Pig Squealing Alert)

The Washington Post ^ | June 13, 2006 | Richard Cohen

[abb]

The New York Times is once again under attack. This time, though, the attack is not related to its coverage of Iraq or to Jayson Blair or Judith Miller or even that ridiculous front-page piece it did on the Clintons' marriage -- an article that caused eyestrain from trying to read between the lines -- but to its stock price. Wall Street thinks it is too low.

The phrase "Wall Street thinks" is a tsunamic oxymoron because Wall Street, by and large, does not think. Instead, it is ruthlessly reptilian, instinctively striving only for profits, which means money, which means more money for Wall Street. In the case of the Times -- and also, by implication, the Wall Street Journal and The Post -- Wall Street does not like the way these companies are managed. Although they are publicly traded, they are substantially controlled by individual families. This is undemocratic and inefficient. Pray it stays that way.

The newspapers mentioned are among the very best in the country. I read all three daily, savoring the very inefficiency that so vexes Wall Street. I can rely on any one of them -- and some days all three -- to spend money in ways that keep me informed and entertained and that occasionally make me so angry that if I were not in the news biz myself, I would start a blog dedicated to mindless criticism of the media. It looks like it could be fun.

The initial shot across the bow of the Times came from Morgan Stanley Investment Management, which in April withheld its votes at the Times' annual meeting. Other shareholders joined in so that in the end about 30 percent of the votes were not cast. Then, last week, Goldman Sachs piled on.

[abb]

Yet more Good News!! Cohen braying and retching like the dying Dinosaur he is...

[abb]

Gloatfully pinging one more time...

[Rummyfan]

The phrase "Wall Street thinks" is a tsunamic oxymoron because Wall Street, by and large, does not think. Instead, it is ruthlessly reptilian, instinctively striving only for profits, which means money, which means more money for Wall Street. In the case of the Times -- and also, by implication, the Wall Street Journal and The Post -- Wall Street does not like the way these companies are managed. Although they are publicly traded, they are substantially controlled by individual families. This is undemocratic and inefficient. Pray it stays that way.

Cohen is such an ass. I guess he doesn't own any stock in the NYT - the value of which has declined almost fifty percent over the last five years, mainly due to the management of 'Pinch' Sulzberger.

[Rummyfan]

The newspapers mentioned are among the very best in the country. I read all three daily

Now I know the source of his dementia....

[atomicpossum]

Cohen celebrates the bad business decisions by the Dinosaur media, then, when they collapse, will demand an government bailout...

[RJL]

Wall Street does not like the way these companies are managed. Although they are publicly traded, they are substantially controlled by individual families. This is undemocratic and inefficient. Pray it stays that way.

Richard Cohen from the MSM favors "undemocratic and inefficient" who woulda thought...

/S

[Grampa Dave]

Cohen is one of the Girly Boys who must be having constant nightmares about his ego and paycheck.

[Restorer]

Look, you guys at Morgan Stanley and elsewhere, just admit you made a mistake by buying Times (or Dow Jones, etc.) stock in the first place. Sell and take a loss -- or stick around while America's quality newspapers, the ones Wall Street relies on for information, come up with a viable business plan that will drive up the price of the stock.

Actually very good advice. If you don't like the performance of a stock, sell it.

I wouldn't advise holding my breath while waiting for the second option to kick in. :)

[dblshot]

Mr. Cohen,
Perhaps you can tell me why I would give money to someone who lies to me, supports political views I find repulsive, and is a day behind the Internet with news. Apart from the utilitarian need to have something to protect my carpet from paint or perhaps for all those coupons it is worthless. And I would really appreciate it if my local paper would stop littering my driveway with free product that goes strait to the trash can and the land fill.

[talleyman]

The newspapers mentioned are among the very best in the country. I read all three daily

Now I know the source of his dementia....

Bingo!

[Ol' Sox]

So much material, but I'm at work so I'll just say this:

If Richard had enough time to read three full newspapers each day, he is either not working hard enough (as is evidenced by this trivial column), or is lacking in some other, vitally important aspect of his life.

As for the Times, economic Darwinism's gonna getcha - survival of the fittest and all that. Oooo, sounds like maybe Richard's making a pitch for subsidization? Make the Times the NPR of print journalism? Can't have the old gray lady going hungry, now, can we?

[rock_lobsta]

Once again, Cohen makes his lame attempt to smear the messenger rather than read a message he doesn't like.

Meanwhile, while the gray lady burns... Cohen whines.

[PLOM...NOT!]

I would start a blog dedicated to mindless criticism of the media. It looks like it could be fun.

Just a little hit and run criticism of the internet, which just so happens to be a large part of the reason their stock is tanking.

[TenthAmendmentChampion]

Keep 'em comin', ABB!!

[frithguild]

More like two years

[ccmay]

No noise is so pleasing to my ears as the death rattle of the dinosaur media.

-ccm

[Chode]

HA ha...
and the RATS take another one in the...

[Doctor Raoul]

Raoul's First Law of Journalism
BIAS = LAYOFFS

[muir_redwoods]

"The phrase "Wall Street The NYT thinks" is a tsunamic oxymoron because Wall Street The Times, by and large, does not think. Instead, it is ruthlessly reptilian, instinctively striving only for profits Leftist Causes, which means money Socialism, which means more money Socialism for Wall Street America."

Tuned up the accuracy