The Grey Lady must turn to Wal-Mart and oil company gurus to appease shareholders who think the paper is "underperforming" in the New Media age. Funny, the NYT doesn't think Wal-Mart and oil company execs are nearly so evil when they're making profits for the paper:
When a director of an oil company tries to make profits for his shareholders, he is accused of "greed." When a Wal-Mart director tries to make profits for her shareholders, she is lectured about being "tight-fisted." But when The New York Times Company's shareholders start getting restless for profits, where does Arthur Sulzberger Jr. turn to for "exceptional individuals"? Why, to veterans of the boards of Wal-Mart and Chevron. When it is the Times that is hoping to make the profits, somehow it isn't "greed" but, as Mr. Sulzberger put it, "skills, expertise and leadership qualities." We couldn't have put it better ourselves.Nice to see the paper of record finally knows a capitalist hero when it sees one. Don't expect it to last.
H/t Club for Growth.