SULZBERGER No cutbacks.
Posted on 03/23/2006 8:01:07 AM PST by Liz
SULZBERGER No cutbacks.
The New York Times Company yesterday warned of a first-quarter slump, pinning the blame squarely on weak advertising business at the Boston Globe and other Times-owned papers in the region.
The warning came as company chairman Arthur Sulzberger Jr. planned a trip to Boston next week, creating anxiety in the newsrooms of the Globe and other New England Newspaper Group papers.
The company had said last year that it planned to cut 500 jobs companywide, primarily in the fourth quarter of 2005 and the begining of 2006.
The warning was a "disaster," according to Ed Atorino, an analyst at Benchmark Inc. "The Boston Globe seems to be having some major problems in help wanted, retail, across the board."
Atorino said the group's 12 percent decline in February ad revenue was "probably the worst of any major newspaper group."
The Times said that job reductions will cost $8 million to $10 million in the first quarter that ends March 31.
(Excerpt) Read more at nypost.com ...
...calling for the Schaudenfreude (sp?) graphic
Nobody want to read those rags...........ad money is moving elsewhere.......maybe to cable TV.
Isn't the Times projecting a 2 cents to 4 cents charge in 2006 for layoffs? My guess is the high end of this range is too low.
Further, if turns out too low, we can all say PINCH LIED.
Luckily, the keeper of the Schadenfreude happens to be here at the moment. ;OD
As they agressively move to cut costs to stop the hemmoraging on the balance sheet, their quality of product will decline and further depressing sales. The flush handle has been pulled, and the water is beginning to circle the bowl...
Laying off the telegraphers once again.
The lib journalists should be thrilled, fewer trees are dying to spread their lies!
Couldn't happen to a more deserving newspaper. I pray that it folds, or comes over from the dark side.
It is fun to watch this lib rags go down the tubes and blame their socialist and anti-Americn editorial policies for the decline.
That is some of it I'm sure but the move of advertising bucks to the Internet and the rise of the Internet as THE real-time news source that complements 24/7 cable news and talk radio addressing the issues of the day are making printed news just yesterdays news. That's not good enough for me and I suspect it is not good enough for most Freepers. Slowly but surely it is becoming not good enough for anyone.
Ping
Happy days are here again.
Calling Sarbanes-Oxley.
Woohoo!
To think of all those PWMs (People Who Matter) losing their jobs... It's enough to bring a tear (of joy) to one's eye...
I was glancing at the NY Times last Thursday, and the front page of the Metro Section had a big story bemoaning the fact that some PWMs at Conde Nast Publishing (publisher of The New Yorker, perhaps the PWM who M most of all P) were losing their views of Bryant Park because of the construction of an adjacent office tower. There was no mention of the people who were evicted from their business by the NY Times under a ruthless Eminent Domain proceeding to make way for the construction of their new skyscraper and all the little people who will have their views obstructed.
These idiots richly deserve their fate.
I like real-time and I really like the variety of Internet news sources. Print just can't keep up.
The next sound you hear is f-l-u-s-h.
Pinch lied while journalists died.
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