Skip to comments.TIMES' 4Q PROFIT OFF (attributes costs of 500 job cuts)
Posted on 12/22/2005 4:43:56 AM PST by 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.
(Excerpt) Read more at nypost.com ...
Doug's got quite a catalogue of tunes, to be sure.
One of our sons attended a management seminar in Austin this summer. He said it was like visit San Francisco during a hot week with all of the hostile libs and deviants in Austin.
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.
Didn't the NYT get nailed within the past year for falsely inflating their circulation numbers, or am I thinking of some other large MSM newspaper(s)?
Yes, we demand to know their exit strategy and timetable!
Yes, achieving economies of scale would be a good strategy. NYT is nothing more than an echo chamber for the DNC.
Don't mean to butt in but the only one I've heard about recently was the Minneapolis (Red)Star Tribune, although there have been other rumblings. It was settled for $55,000 after an "audit" determined their circulation numbers were essentially accurate....FWIW.
I wonder how much the editorial board will pay itself.
The Stone Age Press is the only business that believes it can insult 60% of their customers. Here is proof you cant.
Pray for W and Our Victorious Troops
Basically every major fishwrap has been nailed for Enroning their ciculation and paid subscriber numbers, this past year.
Going down in flames, huh?
I stay away from the downtown area for the most part, and seldom spend money in Austin. Most of our shopping is in Williamson county, as we have to pass thru it to get to Austin. I understand his attitude about the hostile libs, and much of the problem lies in UT.
This son will not return to Austin.
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