The New York Times Company reported a sharp drop in net income in the first quarter as the print advertising market remained stubbornly depressed for newspapers.How long before the Times ownership is outsourced to Mexico?
The company said net income fell 57.6 percent, to $5.4 million, compared with $12.8 million in the quarter a year ago.
The weakness in print advertising, coupled with an unexpected drop in revenue at About.com, led to earnings of 4 cents a share before special items were excluded, compared with 8 cents a share in the period a year ago.
Saturday, April 30, 2011
Ha, Ha
As recently as 2008, the New York Times' average weekday circulation was over 1.1 million. By the third quarter 2010, it had dropped to 876,638. So, no wonder:
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1) "Voting Subordinated"? Is this guy stupid? He basically gave them an unsecured loan. There's a Dilbert from some time ago, where The "Dogbert Investment Firm" sells someone some non-voting stock in his company. I forget the exact phrase used but it was something along the lines of that. The real punchline was a moment later, when Dogbert goes. "Ouch! It *hurts* when my tail wags that hard!" It was one of Adams' better ones.
2) I wonder if Pinch is thinking he can tell Mr. Slim to stuff it when Slim wants his money back with appropriate interest.
Because I'm thinking you don't get to the top in Mexico without getting connections to the Mexican drug cartels. I wonder if the Times headline of a year or more hence isn't mourning the shocking death of Mr Pinch to "street gang violence" when, while walking down to his limo one day, he gets caught in "automatic weapons crossfire" between two "strangely unidentified gang vehicles"
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LOL -- I sh** you not -- word verif is a great big "phaile"
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