Posted on 09/21/2006 11:09:09 PM PDT by RedCell
NEW YORK (Reuters) - The New York Times Co. (NYT.N: Quote, Profile, Research) on Thursday forecast sharply lower third-quarter earnings because of a "challenging" print advertising market, sending shares down nearly 5 percent in after-hours trading.
The publisher of The New York Times newspaper and the Boston Globe forecast earnings of 8 cents to 10 cents per share, compared with 16 cents in the same quarter last year.
"The print advertising market has been very challenging during July and August and remains so in September," Chief Executive Janet Robinson said in a statement.
(Excerpt) Read more at today.reuters.com ...
That little faggot Sulsberger is the culprit. I hope he stays on : )
I love articles like this. Makes me feel all warm and fuzzy to imagine that anti-American and anti-military little Pinch trying to keep the stockholders from scalping him at the next annual meeting.
Although the New Yuk Times editorial policy makes me want to vomit more often than smile, its demise would not make me happy.
The Times news gathering organization is unparalleled anywhere (at least in the US). They slant the News and their reporters occasionally manufacture news but I do not see any other organization out there that is going to step in to the Times shoes any time soon.
The failure of the Old Grey Lady should not make any of us rejoice. We should hope that the old harlot will mend her ways and grow strong again.
Did that ever occur to them as the reason why they're in trouble?
Regards, Ivan
The Times is idolized by probably a majority of what passes today as print and broadcast journalists. The networks and editorial writers across the country take their cues from the Times. They are a herd of sheep. The guy who sits on top of it all is a pampered, spoiled, middle-aged hippie who wouldn't last five minutes in a real job. And apparently he doesn't have a clue about running a profitable business.
Well considering that earnings are falling let’s hope that the stock holders ask for his head.
Agree. In the competitive marketplace of ideas I want more choices and voices - not less.
Of the three 24/7 cable news channels I tend to watch MSNBC but I certainly want the other two to remain in business.
I'm guessing that it will drop about $2 today.
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