Skip to comments.Not A Parody: Op-Ed Suggests Making NYT An Endowed Non-Profit–For Only $5 Billion!
Posted on 01/28/2009 4:02:43 AM PST by governsleastgovernsbest
An op-ed in the New York Times suggests turning the paper into a non-profit. Hey, the gurus of the Gray Lady have already accomplished that, thank you very much!
But seriouslyat least I think they were being seriousthe authors, two Yale investment officials, propose transforming the Times and other struggling newspapers into nonprofit, endowed institutions like colleges and universities.
Great idea. Just like the rich sons of Eli turn up to root the football team to victory against Harvarddropping the odd million into Yales endowment while theyre at itso too will the Times benefactors head out to Central Park to watch the papers softball team take on the NY Post.
Theres just one nagging little detail in the authors otherwise brilliant plan that could present something of an obstacle. According to their calculation, in order to throw off the $200 million in annual income required to operate the paper, the endowment required would be . . . $5 billion.
(Excerpt) Read more at finkelblog.com ...
Make your tax-deductible donation to the NYT ping to Today show list.
so, it would be a lot like Pravda under USSR?
I hear there's a guy, can't recall his name exactly, Markoff or Madouf or something like that, cranks out 12% a year.
Invest the endowment with him and they only need $1.5 billion. ;-P
Why didn’t the buggy whip makers think of this?
While the ‘Rats are busy designing ways to Hush Rush, they want to use public money to ensure their House mouthpiece continues.
Which circle of Hell is this?
As long as it’s not my tax money. Let the Libs put up their own....
UH, we already have that: NPR
Oh they didn’t really suggest the ‘endowment’ is to be made by public money !??? Whaaat ?
All endowments I know of have been privately put together as donations to particular schools. So, if someone is CRAZY enough to gift $5B of their own money in order to keep the propaganda machine going, fine.
Not a dime of taxpayer money should go into creating ‘non-profits’. I’m not sure you could squeeze creating companies under the commerce clause either.
What do they care? OPM!
What is this Grandpa?
Its called a newspaper. Its how we used to get our news!
Pray for America, Our Troops and Obama’s Guidance
“As long as its not my tax money. Let the Libs put up their own....”
Not to be rude, but when was the last time that the libs put up their own money for anything? They believe in funding things as long as they use someone else’s money. Federal tax dollars fund ACORN, Public Television (DNC-TV), abortion, affirmative action, social services/welfare for illegals. I can see them applying to the National Endowment for the Humanities (http://www.neh.gov/) for NYT money.
Very true.Pinch should try a little pillow talk- Caroline
could you lend me......
If they had, and the Congress of the day had been stupid enough and corrupt enough to establish a buggy whip bailout, we would still be stuck driving horse-and-carriages.
I can hear the chanting.
One constraint on an endowed institution is the prohibition in the same law against trying to influence legislation or participate in any campaign activity for or against political candidates. While endowed newspapers would need to refrain from endorsing candidates for public office, they would still be free to participate forcefully in the debate over issues of public importance.
In other words: they would still try to influence legislation and participate in any campaign activity for or against political candidates, only now they would do it even less on the "editorial" pages and even more in "straight news" sections.
“we would still be stuck driving horse-and-carriages. “
But they would now be environmentally friendly carriages and be built by a diverse workforce.
So then they would be fair and balanced like NPR. /s
LOL: nicely done!
“so, it would be a lot like Pravda under USSR?”
It has already accomplished that distinction on its way to bankruptcy.
- poor car company couldn't make it because they put out crappy cars.
With enough taxpayer dollars they could put out cars NO ONE WANTS forever. This is the same.
I hear "bailout" sounds coming from the rats by the weekend. Along with that word, and 10 billion, they'll use words like 'historical', 'vital', 'heart and soul', and 'national treasure' to soften up the hearts of patriots to convince them to agree to bailing out the NYT with taxpayers money which will never be paid back because of the other word "forgivable" slipped into the bill but not mentioned to the public.
What's another 5 billion. We'll just defer it until our great grandchildren are entering the slave... er job markets.
I am please to say that it looked like not one had been purchased.
Meh, Slim is getting an 11-13% dividend return from the NYT for his 250 mil.
Somehow my pings fell out during the posting on this reply.
“I was at the grocery Monday here in central Indiana and there was a brand-new, fancy cardboard display with “official New York Times Obama commemorative Inaugual edition” papers on sale in plastic sleeves.”
“I am please to say that it looked like not one had been purchased.”
Double good news:
#1. Even the liberals didn’t want to buy it.
#2. That had to cost the Ny Slimes a lot of money, which they don’t have a lot of.
I still say the beginning of the end came when Punch’s assinine judgement became apparent when he advanced Jayson Blair to a top spot at the NYT.
Blair proceeded to fake stories-—writing about events from a coffee shop, as if he was there.
Punch’s “tolerance and compassion” turned the NYT into a business flop.
THE SINKING OF THE USSR NEW YORK TIMES
What is it with liberals and bankruptcy? Air America in the toilet, now newspapers- most of which are pure liberal rags sinking fast. Isn't the Free Market blind to ideology? Is success that unattainable by liberals in all things? This doesn't sound like the Midas touch.
Consequently, given Obysmal's election to president, I'd say we are in serious jeapordy of becoming a nation gone bankrupt.
Without a subsidy, America can't exist- no different than NPR and other subsidized businesses.
Hey! That prick and his crowd won’t be happy till American is just another run-of-the-mill country!!!
Wouldn’t that be grand, Maureen down fist, followed by the putrid scraps of paper left over.
We know what floats to the top and is flushed down, last.
Just let Yale put up $5 billion from its own shrinking endowment for this purpose —— move the Times staff to New Haven and re-brand it as the “New Haven Times”......
It would be a great extra-curricular activity for all the young Yale liberals who could displace a lot of the expensive “professional” journalists.......
A great educational move for Yale!
"Subscriptions?/donations?/graft down? ('cept in Chicago), not to worry- we can still tap the taxpayer, fool!" /Mr. T
"America has already become so socialist I'd like to shove my boot up it's ass."/budwiesest
"Look, if we didn't have a crony at Treasury, we'd never convince the useful idiots to pay the taxes we need to implement our socialist plan." /Step and Fetch It
"Blagojovich got caught trying to sell a senate seat. I'm selling the country and I ain't gettin' caught!" /Kingfish Obama
"It's no longer the party of the working man, it's the party of the non-working man." "Democracy has met it's match."/budwiesest
“All the news that fits the agenda of our socialist masters, we’ll print.”
Of course, that’s more or less their motto right now anyway.
The NYTimes is already not-for-profit.
It’s just unintentional.
What a profoundly truthful statement, budman!!! Power to the BUDMAN!!
Just Awful...but not surprising.
Because the electorate hadn’t been dumbed down enough in those days.
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