Thursday, July 24, 2008
Today's headlines read: "New York Times to raise newsstand price to $1.50" and "S&P may cut New York Times debt into junk territory" and "Profit Plunge at the New York Times"
Here's more: "The New York Times (NYT: 13.20, +0.34, +2.64%) fell as low as $12.38 this morning after its second quarter earnings missed estimates. Profits plunged 82% to $21 mn versus the $118 mn posted in the same period a year ago, a period that was helped along by the one-time sale of an asset."
So, if the New York Times is crashing and burning what are we going to use to line our bird cages when they finally stop publishing printed newspapaers? Maybe it's time to free the birds? After all the rest of us are going to be free of the New York Times!