In case you missed it, there are other problems for the First Family at Happy Hollow. Among other things:
Ochs Sulzberger family members pressured NY Times management to restore dividends
Less than three years after the New York Times Co. was forced to slash its dividend to save cash, members of the paper’s founding family pressured management to restore the rich payout.Members of the Ochs Sulzberger clan are reportedly unhappy that the once-mighty and now struggling company has not been able to dole out the dividend, which was a major source of income for the family whose trust controls the company through a dual-class share structure.
Some family members had put pressure on Chairman Arthur “Pinch” Sulzberger, Jr. and recently ousted CEO Janet Robinson to reinstate the dividend, according to a new report.
Sulzberger Family Place Sells for $10.25 million on Central Park West
Seems like granny passed away last February and that triggered a boatload of estate taxes. Thus, the need for even more filthy lucre.
Not to worry, however. At least the money-losing side of the business, their Internet site, is growing. Maybe they can eventually make things up in volume eventually, providing they don't go broke first.