Posted on 07/23/2008 8:16:25 AM PDT by LdSentinal
The New York Times (NYT: 13.07, +0.21, +1.63%) fell as low as $12.38 this morning after its second quarter earnings missed estimates. Profits plunged 82% to $21 mn versus the $118 mn posted in the same period a year ago, a period that was helped along by the one-time sale of an asset.
The share plunge is the lowest since July 1995.
Print ads dollars at the Times continue to shrivel, sending operating income in a nosedive, as ad dollars continued their inexorable march toward the Internet. Hotels, automakers, airlines, all hurt by high energy prices, have pulled back sharply.
Meanwhile, in news on another front, New York City mayor Michael Bloomberg and Bill Gates, philanthropist and legendary co-founder of software giant Microsoft (MSFT: 26.53, +0.73, +2.82%) have announced they plan to hold a press conference at the TimesCenter, run by the New York Times, to make an announcement today. In the past, Gates through his foundation has given tens of millions of dollars to help fix New York City schools.
Now if only the Times was on the list of the philanthropist’s handouts, as ad dollars continue to plunge at the paper. The Times is hoping against hope that its mix of assets, including The Boston Globe, the International Herald Tribune, About.com, regional newspapers and a classical music radio station in New York can pull it out of its corkscrew dive south. Stay tuned.
Darn.
Get a loan from our enemies you dirtbags..
buh-bye, Pinch Loafberger!
Couldn’t happen to a nicer fishwrap newspaper....! HA!~HA!
ROTFLMAO ... schadenfreude. And the best part is these people still don’t have a clue “why” this is happening.
My bet is they will eventually dry up since they cannot admit what is really going on. The Internet is drying up our business crap is not working. They are like an alcoholic in complete denial. How pathetic.
I had to laugh, the post below yours is the Rush Limbaugh Live thread....I could not help see who has the greater success
To quote Governor Richardson, “Stop whining!”
It’s time to Pinch this one off, and let it go.
Wow the "old gray whore" is hoping to be bailed out by a classical music station...I've heard those are real cash cows.
Yeah baby!
Here`s one major reason why:
” The last HonestReporting long-term analysis of the New York Times was released in November of 2007. At the time, we found that there were several disturbing patterns in how the Times reported events in the Middle East. Our conclusion was that the treatment of Israeli and Palestinian actions was so different, that there could be no question that the reporting was favoring the Palestinians rather than remaining impartial. We highlighted specific cases where headlines dealing with Israeli or Palestinian actions were written in different styles. We also noted that the vast majority of images used by the Times appears reflectively sympathetic to the Palestinians while virtually ignoring the greater context surrounding the conflict.
We have now concluded a broader survey of the Times. Specifically, we looked at 205 articles between July of 2007 and June of 2008. Using this much larger time frame, we found that our original thesis has only been strengthened. Specifically, when reviewing headlines and photographs, it is clear that there is an inherent bias in New York Times reporting about the conflict that favors the Palestinians.
THE NEW YORK TIMES: JULY 2007-JUNE 2008- SUMMARY OF FINDINGS:
82 percent of headlines that introduced articles describing Israeli military operations were written in a direct style in which the words “Israel” or “Israeli Forces” (or a similar phrase) were the subject. In the majority of these cases, no details were given as to whether the casualties were combatants or civilians. An example of this type of headline ran in the Times on January 4, 2008: “Israeli Forces Kill 9 in Gaza.”
Only 20 percent of headlines that introduced articles describing Palestinian attacks named the group responsible. Most of these headlines were written in a passive, less direct style that removes responsibility of the attack from those who caused it. An example of this type of headline ran on May 13, 2008: “Rocket Fired from Gaza Kills Woman in Southern Israel.”
75 percent of the photographs that could be objectively determined as drawing sympathy for one side or the other in the conflict favored the Palestinians. Palestinian casualties of Israeli military operations and pictures of civilians dealing with shortages in Gaza dominated Times coverage during the time period studied.
http://www.frontpagemag.com/Articles/Read.aspx?GUID=FCEB5FB0-50CD-45FE-A68D-4C68572E1B1B
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The New York Times Company Declares Regular Quarterly Dividend Thu Jun 19, 2008 5:47pm EDT
NEW YORK--(Business Wire)-- The New York Times Company's Board of Directors today declared a regular quarterly dividend of $.23 per share on the Company's Class A and Class B common stock. The dividend is payable on September 15, 2008, to shareholders of record on September 2, 2008.
There might be still time to save the paper, if only they can turn more left fast enough.
That this is happening in an election year, when they expect to make a lot of $$ from political ads, is devastating.
I’m sure they will get a donation from Al Qaeda since the Slimes is doing Al Qaeda’s bidding.
Why would The Anointed One's campaign buy any ad space in the NYT? It would be preaching to the choir. Why would any Dem do so? The only people who can stomach the NYT's contents are going to vote D anyway.
If the NY Times should ever close its doors, what will the networks do for news stories? Does ABC even have any actual reporters, or are they all news readers who simply reshuffle Times and AP articles? Oh wait...that’s right, the networks can just go to the DNC directly. NEver mind.
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