Posted on 04/26/2009 7:43:10 AM PDT by pissant
The nation’s largest left-wing newspaper and the bible for network news producers and bookers may be going under. This past week, The New York Times [NYT] announced more staggering losses: nearly $75 million in the first quarter alone. The New York Post is reporting that the Times Company owes more than $1 billion and has just $34 million in the bank. A few months ago, the company borrowed $250 million from Mexican billionaire Carlos Slim at a reported 14 percent interest rate. With things going south fast (pardon the pun), Slim might want to put in a call to Times publisher Arthur Sulzberger Jr.
The spin from Sulzberger is that the Internet is strangling the newspaper industry, and there is some truth to that. Why read an ideologically crazed paper when you can acquire a variety of information on your computer? But other papers are not suffering nearly as much as the Times, so there must be more to it.
There is no question that the Times has journalistic talent. This week the paper won five Pulitzers. It’s true that the Pulitzer people favor left-wing operations (the past eight Pulitzer Prizes for commentary have gone to liberal writers), but New York Times journalists often do good reporting.
The problem is that under Sulzberger and executive editor Bill Keller, the Times has gone crazy left, attacking those with whom the paper disagrees and demonstrating a hatred for conservatives (particularly President Bush) that is almost pathological. The Times features liberal columnists in every section of the paper, and they hit low, often using personal invective to smear perceived opponents.
(Excerpt) Read more at bostonherald.com ...
I predict that the Times will declare bankruptcy and default on its debt. Once that is done someone like Soros will buy up the pieces dirty cheap and fund the newspaper from there.
Goebbels wasn’t a journalist either, to the best of my knowledge.
On the plus side, it can’t get any more leftwing even if Soro’s buys it.
But on the negative side, a New York Times without its debt load and with the Soros billions behind it will be even more dangerous.
I for one will dance an Irish jig in the streets when the NYT goes under once and for all, never to resurface again.
Never happen. It will be “stimulated” back into production.
On the plus side, at least the claims of it being a socialist rag will be inarguable.
The Times is a sinking money pit. Their incredibly dishonest and unethical reporting standards sealed their fate. This though, is how capitalism should work. They put out a crappy product and very few want to buy anymore.
I hope Soros puts his greedy little communist hands into this disgrace of a company.
I think that you better save your dancing for a while, because even after bankruptcy, the NYT will continue, like one of the walking dead, eating the brains of its readers. It might even get a federal buyout. After all, it is “too big to fail.”
Bill’s rant, while enjoyable, is not accurate.
The NYT is not going down because it alienated its audience by being overly liberal. In fact, it tells its primary audience, the people of NY and environs, exactly what most of them want to hear.
There are lots of reasons for the decline and fall of the NYT, but ideological imbalance isn’t a primary factor.
That unfair and unbalanced approach has alienated a large number of readers and advertisers...46 percent of Americans define themselves as conservative, while just 34 percent say they are liberal.
insulting half the country on a daily basis may not be a great business plan.
There are incredibly devoted (or addicted) liberal readers of the NYT. Reading the Sunday Times is what they do while others are in church.
All week thereafter, they will spout what they read in the NYT. It is a way of life which has advantages, because the effort of any serious thinking can be avoided. From the Times, one’s intellectual food comes pre-chewed, and regurgitated like the fish-mush that a mother cormorant vomits into the mouths of her eagerly awaiting young.
Liberal zombie sheep printing propaganda and lies to more liberal zombie sheep.
I also imagine that the NYP, WashTimes and WSJ have gotten lazy, knowing that they need only assume that the NYT is 100% in order to determine how to correctly report a story.
That should have been “...need only assume that the NYT is 100% WRONG ...”
I think that you better save your dancing for a while, because even after bankruptcy, the NYT will continue, like one of the walking dead, eating the brains of its readers. It might even get a federal buyout. After all, it is “too big to fail.”
No, the Times isn’t too BIG to fail. It’s too valuable to the left/democrat party to fail.
I love reading the NYP and WSJ. Compared to the NYT, they are pinnacles of journalistic integrity!
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