bitterlyclingin
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- Aug 4, 2011
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[Powerlineblog comments on the financial travails of the "Newspaper Of Record" and "All The News That's Fit To Print" as it slowly gets drawn into the same financial whirlpool that consumed the Tribune Companies.
Its sort of poetic justice for the company that bought the Boston Globe primarily for the purpose of instituting same sex marriage in that state, hoping that the disease, once established in Massachussetts, would then spread like the bubonic plague across the nation.
Fortunately its spread has so far been circumscribed, and limited to the anal fornicators in the orginal state and its neighbors, Connecticut, New York, and of course how can you forget Gavin Newsome's California and the land where undiscovered and uncounted Democratic ballots somehow apparently grow in its trees, Christine Gregoire's Washington State.
May Pinch's faithful wife somehow mysteriously come down with a treponema pallidum infection.]
"The personal anecdotes are interesting, of course. But the real story here is an economic one: the drying up of advertising revenue that has brought the once-profitable New York Times Company to its knees. The papers most recent effort to restore profitability is its second attempt at erecting a pay wall:
With the success of the pay wall in the summer of 2011, it seemed the paper was turning a cornerwhich made what came afterward even worse. Between the About.com debacle and the sudden *decline in print advertising, the paper was headed toward a 3 percent drop in revenue and an overall loss of almost $40 million in 2011. Since Robinson began as CEO in December 2004, the Times stock has lost more than 80 percent of its value. And this was significant not only for the business but also for the family that owns it. The Times has always had conflicting business prerogatives: to turn a profit, yes, but also to supply the family with what amounted to a trust fund by churning out several million dollars a year in stock dividends. At one time, the family received upward of $20 million a year, which served as a kind of Ochs-*Sulzberger operating budget. But when the dividend was suspended, the family were left with only their stock wealth and whatever they had in trust funds and savings. That was fine for Sulzberger and the five other *family members with salaried positions at the company, but the wider family of sons and daughters, nieces and nephews were now forced to sell stock at a historical low to raise money. Most of them have admirable if low-wage jobs as academics, novelists, musicians, and psychotherapists, but the money also funded second homes and hobbies such as underwater exploration."
The New York Times At Twilight | Power Line
Its sort of poetic justice for the company that bought the Boston Globe primarily for the purpose of instituting same sex marriage in that state, hoping that the disease, once established in Massachussetts, would then spread like the bubonic plague across the nation.
Fortunately its spread has so far been circumscribed, and limited to the anal fornicators in the orginal state and its neighbors, Connecticut, New York, and of course how can you forget Gavin Newsome's California and the land where undiscovered and uncounted Democratic ballots somehow apparently grow in its trees, Christine Gregoire's Washington State.
May Pinch's faithful wife somehow mysteriously come down with a treponema pallidum infection.]
"The personal anecdotes are interesting, of course. But the real story here is an economic one: the drying up of advertising revenue that has brought the once-profitable New York Times Company to its knees. The papers most recent effort to restore profitability is its second attempt at erecting a pay wall:
With the success of the pay wall in the summer of 2011, it seemed the paper was turning a cornerwhich made what came afterward even worse. Between the About.com debacle and the sudden *decline in print advertising, the paper was headed toward a 3 percent drop in revenue and an overall loss of almost $40 million in 2011. Since Robinson began as CEO in December 2004, the Times stock has lost more than 80 percent of its value. And this was significant not only for the business but also for the family that owns it. The Times has always had conflicting business prerogatives: to turn a profit, yes, but also to supply the family with what amounted to a trust fund by churning out several million dollars a year in stock dividends. At one time, the family received upward of $20 million a year, which served as a kind of Ochs-*Sulzberger operating budget. But when the dividend was suspended, the family were left with only their stock wealth and whatever they had in trust funds and savings. That was fine for Sulzberger and the five other *family members with salaried positions at the company, but the wider family of sons and daughters, nieces and nephews were now forced to sell stock at a historical low to raise money. Most of them have admirable if low-wage jobs as academics, novelists, musicians, and psychotherapists, but the money also funded second homes and hobbies such as underwater exploration."
The New York Times At Twilight | Power Line
