Posted on 07/22/2007 2:29:41 AM PDT by abb
HERE’S a story I’d like to read — and I’ll bet you would too.
One of America’s leading companies, a world-famous brand, has hit a rough patch. Its revenues and profits are declining, its debt rating has been downgraded, and a leading Wall Street house has advised investors to dump their shares. With sales of its core product falling, the company is raising the price and investing heavily in new technology that is slow to pay off.
A major outside shareholder has been agitating to end the stock structure that has allowed one storied and powerful family to run the company for four generations. As another family in the same troubled industry appears ready to throw in the towel, will this family be able to stick together and find new success?
This is dramatic and important stuff. And it’s the kind of story you often read on the front page or the Sunday Business front of The New York Times.
But you haven’t read this one in full, sweeping style because the company is The New York Times, and the family is the close-knit and extraordinarily private Ochs-Sulzbergers, descendants of Adolph Ochs, who came up from Chattanooga, Tenn., in 1896, bought the failing New-York Times and put it on the path to greatness.
“The Times is a huge story,” said Alex S. Jones, a Pulitzer Prize winner who covered the press beat for the newspaper for nine years and wrote with his wife, Susan E. Tifft, “The Trust,” the definitive book on the Ochs-Sulzberger family. “It’s the most important news organization in the world.”
snip
(Excerpt) Read more at nytimes.com ...
ping
Perhaps it is time to bury the “Old Gray lady” as it has turned into a 2-bit whore.
At least Fox News will have some company on the street corner.
We can always hope they loose it all, but no doubt they have plenty of cash squirreled away, and own plenty of other media that they use to deceive people in other countries and bash America with.
hey! may we wish that they fail.
but seriously, they’re not dead, yet.
with bush-boy’s help the nyt will probably launch comrade hillary into the presidency.
si.
p.s. in case you didn’t notice, the “dinosaur media” helped elect a democrap u.s. congress in 2006.
Now, that is interesting. Here's Wiki on why Mr. Ochs was in Chattanooga in the first place:
They are Democrats through and through.
ping
Business historians will look back at this decade as the Enroning of the fishwraps by these elite liberal families.
Any other businesses diving into the septic tank of history would have constant front page screaming headlines of evil corporate CEO’s. Yet, there is minimal coverage of these familial failures in the fishwrap industry. The liberals still don’t want to admit the buyout of the WSJ is happening.
Hoyt forgot the "Pinch"
Note self deception that NYT success primarily came from objectivity rather than a price decrease.
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