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Archive for April 19th, 2008

NYT’s 1Q profit bombs: Now what?

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In the first quarter a year ago, The New York Times Co. made $23.9 million in profit. This week, the company reported a loss of $335,000. That’s about the worst quarter-to-quarter loss the company — and the news biz — has ever seen.

In a story by The Times‘ Richard Pérez-Peña, president and CEO Janet L. Robinson said “it was ‘a challenging quarter, one that showed the effects of a weaker economy,’ compounded by ‘a marketplace that has been reconfigured technologically, economically and geographically.'”

That’s Robinson-speak for “Holy crap! We’re screwed!”
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Written by Dr. Denny Wilkins

April 19, 2008 at 3:26 pm

Posted in Uncategorized