Hahahahahahaha! We could have told Standard and Poors that! Just remember Cindy McCain, the best revenge sometimes comes in profits sliding and credit downgrades. 🙂
NYTimes profits slide; S & P downgrades credit rating
The New York Times Co. reported a steep drop in third-quarter profits on Thursday, the latest gloomy earnings report in an industry battered by online competition and falling print advertising revenue. [And let’s not mention it’s complete and utter loss of any credibility].
The New York Times Co. said net profit fell by 51.4 percent in the third quarter to 6.5 million dollars, or five cents per share, from 13.4 million dollars, or nine cents per share, in the same period a year ago… Shortly after the release of its results, Standard & Poors said it was lowering the Times’s credit rating to “BB-,” or junk status, while Moody’s Investors Service said it was placing it on review for possible downgrade.
Some people still wonder why the NYT isn’t worried about its future ‘reputation’ as it shills for Obama and goes after the McCain and Palins with ridiculous and scurrilous attacks. It’s because, when you lose over 50% of your net profit in one quarter, you know in four years the paper itself and any influence you have will not exist. They literally are in self-destructive death throes.
As Cartman would say, “Sweeeeeeet.”
Comeuppance.
Lovin’ it. Oh, yeah.
🙂
But they were such a good source of stupidity. Now we’ll have to find a new source of blatant liberalism to ridicule. As long as Fox News is still around, who cares?
Not so much for it’s reporting but because it’s still the most popular and inspires so much liberal ire. 🙂 The truth hurts.
Tammy – the story also doesn’t mention what the “online competition” is – truth telling blogs like yours! by reading the piece one might assume it’s just newspapers going online that create the competition…but that’s certainly not the case…
Good! I’m glad NYT is going under. They deserve it.
Too bad for the ‘Times’. Mayhap we should say RII – rest in infamy.
Let’s hope their suicidal joining up with the vast left wing conspiracy is a lesson to others in the pulp press media.
Campaign biased choices just expanded the NYT’s gaping wounds from advertising losses which seem to have been laid at the feet of the internet, but they’ve likely lost many conservative and centrist readers through their seemingly biased reporting and editorials. They could have tried to go fair and balanced to try to recover; instead chose to lemming off the left side of the cliff. Did as well as the liberal talk radio shows – almost nobody wants non-stop hate spew. You’d think reporters and editors would study history as well as current events.
No more NYT for me – even if I need cheap lining for ‘Tweety’s’ cage – the best use for it. I’ll buy local and support my economy even if the cost per sheet is more.
I guess it’s now truly fitting to say “The New York Times” isn’t worth the paper it’s written on.
In Boston, The Times Company owns “The Boston Globe” (SURPRISE!), but still actively markets the ‘Gray Hag’. So we have two newspapers. One for people who can’t think; another for people can’t read.
Young Sulzberger is one of those obnoxious left wing creeps who is a prototypical “trust fund” baby i.e. inherits his undeserved position yet thinks that he is where he is because of his smarts and talent. He could not even run a bodega..