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In Despair, New York Times Pens Suicide Note

grich903 Wrote: Oct 29, 2012 7:12 PM
Suddenly, the FedGov had a lot of worthless mortgage papers on their hands, and so bundled them and sold them as if they had value, when most of them were going to end up in foreclosure. The banks bought them thinking the gov was telling the truth, when they weren't. So, we had the housing bust - thanks to LIBERAL policies on housing. The rest is history. Except, the libs who didi it keep blaming the BANKS instead of government interference in the market.

The common stock of the New York Times (NYSE: NYT) plunged from $10.87 last week to a close of $8.19 on Friday after the liberal mouthpiece announced that its 3rd quarter net income dropped 85 percent.

While analysts are blaming soft advertising revenues, I think something more ominous is happening at America’s national, bleeding-heart newspaper.

For sure, advertising revenues are dropping nationally as economic conditions have deteriorated over the last two quarters.

Newspapers in general are struggling still as advertisers turn more money over to digital. Unlike newspaper display ads, which are just dead print on a...