The New York Times Has A New Unhappy Distinction

Business Insider ^ | October 28, 2010 | Joe Weisenthal

[redfog]

According to CNBC, the New York Times is now the smallest company in the S&P 500, clocking in with a $1.11 billion market cap.

[redfog]

Too bad, so sad....

[MrEdd]

[mojito]

The incredible shrinking liberal newspaper!

[Uncledave]

Given NYT stock trajectory unless S&P has political reasons for keeping them in the index then they’ll soon be booted.

If that happens then mutual funds that mirror the S&P500 will need to unload NYT, further pushing it down.

[wideawake]

In 2002 they had a $7 billion market capitalization.

Pinch has managed to destroy about 85% of the shareholders' value.

Lucky for him he cannot be fired.

[Calvin Locke]

The Slimes bought the Boston Globe in the early 1990s for just about that amount.

[In Maryland]

The thing that amazes me is that no large stockholder has filed a class action against the Sulzbergers for dereliction of fiduciary duty. They own all the voting stock and I don't think it would take the most brilliant lawyer to show that Putz Sulz's use of the paper for his own political agenda has been fiscally irresponsible and a direct cause of the loss of stock value.

But, you would have to find a lawyer and with the professional courtesy among bottom-dwelling mud suckers, that could be hard.

[stylecouncilor]

[November 2010]

Heh. They’ll end up like Newsweek. Sold for $1.

[Grampa Dave]

In spite of this, the left wing controlled mutual funds are probably still holding on to NYT stock to help keep it afloat as they have with other left wing mediot companies.

Sticking it to those with 401ks and IRAs to keep their left wing socialist mediot friends afloat.

[Mobties]

Do any Freepers know if this S&P guideline includes all stock or just the stock that is regularly traded. The reason I ask is that the voting stock is closely held by the Sulzburger (sp?) family.

[kingattax]

[Grampa Dave]

It is the non voting stock owned by stupid outsiders.

[RingerSIX]

Traitorous commie bastards.

[Defiant]

On the bright side, they are soon to be the largest company not in the S&P 500.

[GeronL]

How much did that Mexican billionaire put into this company?

[PGR88]

Isn’t there a very close correlation between being kicked off the S&P 500 and then being bought-out or bankrupt within a very short amount of time? I can’t seem to find that statistic.

With NY Times, we can only hope

[Mobties]

Really! Hmm. I wonder which is worse, the NYT company or the knuckleheads who own its non-voting, no dividend common stock with a DNR tag on its chart.

Thanks, Dave. BTW How are the grandkids?

[November 2010]

How much did that Mexican billionaire put into this company?

---

I don’t know, but he loaned them 250 million at 14% interest (snicker). I think Slim’s doing ok.

http://dealbook.blogs.nytimes.com/2010/10/04/times-co-to-repay-slims-loan-early/

[Grampa Dave]

Important things first. The GrandKids are doing great.

I have been trying to alert people owing mutual funds that own large amounts of the non voting/dividend stock, their money is being used to this enemy of America, the NY Slimes alive.

Below is a link to the major holders of NY Slimes stock:

http://finance.yahoo.com/q/mh?s=NYT+Major+Holders