TIMES' 4Q PROFIT OFF (attributes costs of 500 job cuts)

NY POST ^ | December 22, 2005 | Bloomberg

[Liz]

New York Times Co. said fourth-quarter profit will fall to around 45 cents a share because of costs to cut jobs.

The declining profit outlook underscores the difficulty The Times is having as advertisers shift to the Internet.

In September, the company said it will cut 500 jobs, or about 4 percent of its workforce.

"They need a better advertising environment," said Edward Atorino, managing director at New York-based research company Benchmark Co.

He rates the shares "hold" and doesn't own them. .........shares fell 37 cents to $26.61 in extended trading after the announcement.

Because it can't predict next year's ad market, the company won't provide financial forecasts.

[Fawnn]

Thank you!

[joebuck]

I note the article doesn't mention that the Times' earnings per share dropped about 50% from this same period last year.

[ChadGore]

Why not just print the truth?

[stocksthatgoup]

Advertising for elections will help the Times earn more next year. Soon they will be telling us all about the big turn around. It will be good for one year.

[ncountylee]

Nice little surprise Christmas present.

[MortMan]

So the sinking ship is blaming the water?

[Liz]

{{{{Chuckle}}}}}.....that's too much to ask of a lefty.

[Liz]

Thanks for the links-----Grampa Dave has the best charts on this story.

[fhlh]

hmmm , if the times keeps the employees they lose money, if the fire them, they lose money.
Why won't the TIMES admit the reason for their woes is that no one is buying their worthless liberal fishwrap?

[Liz]

The NYT's worst nightmare----having their books audited. tremble}}}}}enronenronenronenron{{{{{{tremble

[Liz]

Only thing MSM is good at.

[Arrowhead1952]

That vulture waiting for the NYT to die is applicable to almost every major paper today.

[Grampa Dave]

"That vulture waiting for the NYT to die is applicable to almost every major paper today."

I have been posting the charts of the NYT, WPO and TRB from most of the year and some starting right after the 2000 election.

All three of these rags look like turkeys with bird flu.

I "borrowed" the Vulture chart from For God's Sake. It is an instant hit here and away from Free Republic.

[Liz]

That vulture waiting for the NYT to die is applicable to almost every major paper today.

I don't even feel like crying (snicker).

Maybe we oughta get devolve to post a funeral dirge.....to get us in the proper mood.

[Grampa Dave]

I have been thinking about Doug from Upland doing one of his midi ditties to go with our charts.

[Grampa Dave]

"If you cannot believe their front page stories, any question the books might be cooked too?"

Bingo. If these perverts will lie on their front pages, oped pages and editorial pages, they will lie about their paid circulation numbers in a heart beat.

Their book cooking probably makes Enron look like kids in kindergarden.

[devolve]

  must be sumthin' rattlin' round the ol' grooveyard..... 

         

[Proud2BeRight]

They should just merge with the DNC and cut the costs of duplicating the same garbage.

[Arrowhead1952]

Thanks. I wish the libs in Austin TX would realize the MSM is basically DEAD.

[Liz]

O-o-o-o-o.....scary.