Saturday, November 22, 2008
Start your day off right with a New York Times investors digest!
Here's something to start your day off right: all of the news at our beloved New York Times is bad news.
On a day the market surged nearly 500 points (or 6.5%) the Times shed 7.7% of its already dramatically reduced value.
And the five-year NYT stock chart looks like something only a cliff-diver would love.
The Wall Street Journal is aggressively pursuing the Times' advertisers; the Times was forced to reduce its dividend, and the only son of publisher Arthur Sulzberger, Jr. was just recalled from his Portland, OR reporting job.
I give 'em three to six months before we get the inevitable "we're exploring all options" line.
Ahhh... doesn't that feel better?