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In Despair, New York Times Pens Suicide Note

Joe40 Wrote: Oct 29, 2012 12:09 PM
Prestige doesn't count for much when there are bills to be paid. This is the situation facing the once mighty NY Times. Unfortunately for the libs out there, their precious ideology will fail to withstand the relentless march of the economics. For proof, just ask any Soviet citizen.

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...