http://www.jewishpress.com/news/breaking-news/debt-ridden-ny-times-squeezing-writers-golden-parachuting-ceos/2012/11/01/
IMAGINE NEWS WITHOUT PAUL KRUGMAN, TOM FRIEDMAN, MAUREEN DOWD AND THE OTHER ASSORTED “CALUMNISTS”…..RSK
Debt Ridden NY Times Squeezing Writers, Golden Parachuting CEOs
Remember how the NYT lionized the Occupy Wall Street vigilantes? What a shock to learn about the barrels-full of money it has thrown at its own bigwigs.
Is it time to say kaddish for the New York Times?
Investors in the paper may already be doing so. The last time they received a dividend was in late 2008.
The NYT, considered by many to be the global paper of record, has incurred more than $300 million in net losses since 2005, and its advertising revenues have been declining for five consecutive years.
In fact, the paper’s own financial report made headlines when its third quarter revenues were so much worse than expected that the value of its shares plummeted 22 percent, its biggest one-day drop in at least thirty years. Investors were warned to expect dismal news for the next quarter, as well.
But while the newspaper industry as a whole has been in a funk for years – with Internet news, blogs, and other ’round the clock news sources available—many for free—there are elements of the NYT‘s precarious financial position that make it unique.
The most significant is the stench of hypocrisy hovering over the differences in the way the NYT handles its executives versus its writers.