Fun at the New York Times
What was once our Nation's Newspaper of Record is a pale shadow of itself and the stock prices reflect that.
From the
New York Post:
NY Times Co. shares tumble 22% on dismal ad sales
It was an ugly day for the New York Times Co.
Shares of the newspaper publisher finished down $2.38, or nearly 22 percent, to $8.31 � the biggest one-day drop in nearly three decades, according to Bloomberg data.
The Times reported a worse-than-expected drop in ad sales for the third quarter, dragging down overall results.
Not only today's losses -- the NY Times has been in
steady decline for at least ten years. The link shows the NY Times stock closing around $45/share in 2003
which is about $56 in today's dollarettes.
The photo accompanying the article shows Publisher Arthur �Pinch� Sulzberger sporting quite the black eye. Must be brutal out there...
Posted by DaveH at October 27, 2012 6:55 PM