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Old 07-24-2008, 06:14 AM   #1
Drysdale
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Default Couldn't happen to a nicer bunch of Bumblers...

http://www.breitbart.com/article.php...show_article=1
NEW YORK (AP) - New York Times Co. says its second-quarter earnings fell 82 percent from the year-ago quarter boosted by a one-time gain. Meanwhile, print advertising revenue continued to shrink.

The New York-based newspaper publisher says its quarterly net income dropped to $21.1 million, or 15 cents per share, which included 11 cents per share in buyout costs.

Analysts polled by Thomson Financial expected income of 22 cents per share in the latest quarter. Analyst estimates typically exclude special items.

Revenue dropped 6 percent to $741.9 million, missing the average Wall Street estimate for $754 million. Ad revenue slipped down 11 percent, hurt mostly by fewer classified ads.

Chief Executive Janet Robinson says business was hurt by the "U.S. economic slowdown and secular forces playing out across the media industry."
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Old 07-24-2008, 06:20 AM   #2
Pafuna
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Kinda explains why Marxists hate capitalism...
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Old 07-24-2008, 07:13 AM   #3
Hormadrune
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More that they hate new media. The newspaper business is simply an awful, awful place to be in today's world. Who has time (or makes time) to sit down and read an actual paper anymore? Children of boomers simply don't buy newspapers for the most part. There's a real generational gap in newspaper readership and the problem will get worse long before it gets better.

But hey, spin it politically all you want. I hadn't rolled my eyes all morning, good to get my retinas stretched out.
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Old 07-24-2008, 07:20 AM   #4
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Hormadrune, you may have a point. But that doesn't change the fact that conservatives love seeing the NYT fail.
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Old 07-24-2008, 07:35 AM   #5
Pafuna
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Originally Posted by Pafuna View Post
A wry joke.
fixt.
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