Posted on 09/22/2005 3:30:00 AM PDT by jimbo123
The New York Times was hit with more bad news yesterday when Standard & Poor's Rating Services put the company's long term debt on "credit watch with negative implications" after the company lowered its earnings estimates once again.
The news follows by one day the company's announcement that it will slash 500 jobs over the next six to nine months, including 45 newsroom jobs at flagship The New York Times and 35 in the newsroom at the Times-owned Boston Globe.
"The Credit Watch listing reflects New York Times' lower earnings guidance due to a softer than expected advertising revenue climate," said S&P credit analyst Donald Wong.
(Excerpt) Read more at nypost.com ...
They have done this to themselves. Snicker indeed.
One shouldn't "snicker" at the venerable NYT in this period of their misfortune!!!!
One should LAUGH OUT LOUD!!!
BWAHHHHHHHHHHAAAAA HHHHHAAAAAAA!!!! :)
The "blogs" have done it to them.
Oh, Yeah a $50.00 a year suscription to pay for their moonbat editorials.
What comes around goes around.
So what happens with the Lame Stream Media when the OGW dies?
Maximum Schadenfreude. Maybe they'll be delisted
The good news is that there is no solution in sight for the liberals at the New York Times. The layoffs only buy them another 6 months before they'll have to start making cuts again. And the debt downgrade will only hasten future cuts. Its fun to watch when arrogant liberals are forced to fire fellow arrogant liberals.
Bash Bush in everything, especially for the WOT.
Highlight all negative stories on the military while we have boots on the ground taking fire.
Slant every story to the liberal left, even as conservatives win one election after another.
Raise prices.
Start charging for on=line sunscriptions.
And they don't understand why this recipe for success isn't working?
Like so many other business that fail to change the N.Y. Times as well as many other liberal antiAmerican, pro socialist pro gay news groups are failing.
GOOD.
Gotta think their stockholders are happy to continue their biased slant that drives away readers and add revenus.
somebody's got to say it...but its all W's fault!!!!!!
Just like anyone else, you lie and manipulate the truth enough to the point where people don't want anything to do with you. Hey Hey Hey Goodby
http://finance.yahoo.com/q/hp?s=NYT
Interesting to see that insiders were dumping NY Times stock a week prior to the layoff announcement. I would hope the SEC takes a close look at this and find out who was selling prior to the layoff announcement.
Date NYT Stock Volume
21-Sep-05 3,976,400 (NY Times stock hits new low)
20-Sep-05 858,200 (Layoff Announcement)
19-Sep-05 450,600
16-Sep-05 949,900
15-Sep-05 664,300
14-Sep-05 1,589,500 (Who was selling?)
13-Sep-05 1,279,300 (Who was selling?)
12-Sep-05 1,375,500 (Who was selling?)
9-Sep-05 2,556,500 (Who was selling?)
8-Sep-05 1,613,000 (Who was selling?)
7-Sep-05 744,000
6-Sep-05 604,100
2-Sep-05 674,600
1-Sep-05 881,900
This financial pinch must be like a punch in the gut.
Maybe they can hit up air america for a loan.
As the circle of wagons shrinks at the NYT, I suspect that their homoerotic-leftist pandering will increase, rather than decrease. Hubris, baby... hubris.
Talking about hubris, I wonder if any NY Times reporters will investigate the insiders who were dumping NYT stock a week before the layoff announcement? Very suspicious trading volume...
Perhaps someone will notice...like Donald Luskin.
Remember, insider trading isn't illegal if you are a liberal NY Times insider.
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