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The New York Times Gets Life Support

OBAMA-DRAMA Wrote: Nov 11, 2012 10:26 AM
THIS WAS ENTIRELY PREDICTABLE IN 2008 ... even before the crash late that year. Note that since then the executives at newspapers are not themselves 'downsized' and instead the employee rank is... thus adding to unemployment nationwide.

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.

(Editor's note: I'm taking a few days off. I'll see you guys again on Tuesday with a crop of Email and Hate Mail)

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

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