Wednesday, April 23, 2008

Old Gray Lady Denies Being Old, Gray

As much as economic downturns are generally bothersome to me, I must admit; watching the New York Times' self-vaunting, journalistic Babylon come crashing down has all the hallmarks of a vicarious schadenfreude:

"New York Times Co (NYSE:NYT - News) Chairman Arthur Sulzberger Jr told shareholders on Tuesday the company is not for sale, disputing media reports.

This company is not for sale," he said, calling recent media reports suggesting otherwise "ill informed."

Speculation over a sale has dogged the company over the years, most recently resurrected as its share price falling close to 20 percent in the past 12 months.

The cutbacks and stock losses suffered by the paper in the last few years will of course, be fully attributed to whatever economic blame can be leveled at a sitting president, but no matter. Any paper that pats itself on the back for compromising our national security simply needs to die off--even if they again, deny the presence of the weapons--of their own mass destruction.

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