Brontausaurus tipping…. The New York Times mortgages the company headquarters to raise cash, while Tribune Co., owner of the Chicago Tribune and the Los Angeles Times, files for bankruptcy.
Glenn Reynolds – “Notice how little blame the declining quality of the news-media product is getting, as compared to discussions of the auto industry’s problems.”
More – a Canadian angle…
Now if we could only slow down the speed at which news travels on the net…Damn!
It is very sad.
These organizations prostituted themselves for decades to advance Democratic politicians and leftist ideas and just when victory seemed certain, they are left derelict, dying of starvation, and uncared for on the battlefield.
Whoever got the ball rolling to sell this load for top dollar not too long ago must be contemplating a very rosy future.
They’ll be next at Obama’s door-step for a bailout. They threw their chips in with Obama during the campaign and won the bet. Now its time for Obamarama to pay the piper. How much does anyone want to bet?
Funny how all these left-wing newspapers are going under.
Hey Kate, you should also mention the NYT had their stock downgraded to junk last month.
Any word yet on the Toronto Star?
Hears a thought, give me information. Sound well researched, unbiased information.
Stop trying to sell me on some college sophomores touchy, feely view of the world. I’ve been around long enough to take the information and decide for myself.
I remember years ago it used to be a real treat to pick up a Wall Street Journal. On a busy day in the world it could take hours to read that paper. The information was very deep and interesting to read it was so well written. The Journal although typically about money and markets was also very political astute.
What a joy to read.
Now we get Maureen Dowd and that Brooks fellow ugh.
[“So, how did we get here? It has been, to say the least, the perfect storm,” Zell wrote. “A precipitous decline in revenue and a tough economy have coupled with a credit crisis, making it extremely difficult to support our debt. All of our major advertising categories have been dramatically impacted.”]
Amazing !! They even spin the reasons – by omission;
Bias. Slant. Lies. Craigslist. In the tank. Derangement Syndrome. News dumb down. Falling Reeadrship. And, yes, errors by omission.
It didn’t have to be this way. Damaged goods now.
[“So, how did we get here? It has been, to say the least, the perfect storm,” Zell wrote. “A precipitous decline in revenue and a tough economy have coupled with a credit crisis, making it extremely difficult to support our debt. All of our major advertising categories have been dramatically impacted.”]
So it’s hard to pay the interest on their debt, so they go out and get another $250 million more of debt? NYT can keep their financial advice to themselves.
Front row at an extinction event of their own making.
This news is directly attached to the “So far there is no groundswell of feminist rage in the District of Columbia.” post above it.
The worst thing though is that they even had to sell those lovable losers, the Cubs.
They will probably never be the same.
The most interesting thing about all the hoopla in this blog is:
the backbone of the west (oil and gas and the industry that supplies the spin off elements)is almost dead this winter. Here in Provost very few people have gone to work. Tempco has 2 rigs out. Gray the water and vacuum hauler have very few trucks out, the companies requiring medics are desperate trying to get one contract. Thinks are slow almost stopping. So if you have such a great following and Harper’s ear, please plead with him to help us put some food on te table and some shelter over our heads.
It is a very difficult time on oil/gas country.
All this retoric is fine and dandy but we are all suffering with the price of a barrel being so low.
The de-leveraging of the infamous financial banksters is getting the dollar high and the price of oil to the dumps.
I don’t care who is in power, they are all against us and in favour of the rich, which is fine by me. I have no control over anything, but after 30 years working on the oil and gas, the only other time was this bad was around the NEP times.
So people need to live and cannot survive winter without heat and food.
You can see how desperate they are when the usurp portions of articles read on line (editorials), and then try to pass them off as newsworthy?
The days of good journalism died years ago. This is just the final nail in the coffin.
In the MSM, profitability and economic survival is secondary to their liberal (socialist) agenda.
You have to wonder who is really in control of the MSM and how are they able to find so many brain-dead journalists.
Anyone I know who escaped to Canada from eastern europe says that Canada has now become worse than the countries they fled.
Geraldine Baum of the Times doesn’t seem to understand the implications of an unelected socialist coup taking over Canada’s parliament where the consequences would be nothing short of an economic and political disaster right out of Chairman Mao’s Little Red Book.
It’s no mistake that the MSM supports the coalitions efforts and trying to make it look like a democratic response to “scary” Harper demonstrates just how perverted and corrupt the MSM has become.
They have been morally bankrupt for years so it’s fitting that their demise is forthcoming. Nature has a way of cleansing itself. Hopefully the CBC’s days are nearing an end too.
Justlaugh at – In Saskatchewan things in the patch have slowed somewhat although activity in the Bakken are still going quite strong. Is the period just before freeze-up not a little slow as a rule? Oh, there is also that new royalty structure in Alberta that can’t be helping either.
I’m thinking that OPEC will be cutting production significantly and soon to at least keep the price from falling any more. The moment the US economy shows some life you’ll see the price take off again. I see the price of oil at this level a temporary thing.
“I’m thinking that OPEC will be cutting production significantly and soon to at least keep the price from falling any more. The moment the US economy shows some life you’ll see the price take off again. I see the price of oil at this level a temporary thing.”
One the point of the price,you are right,different bob.But OPEC can cut production 100%,or raise it 100%,they still are not even close to controlling the price.That is now China’s decision,not the Yanks,not Canadas,not the EUs.
They all rolled the dice with their chips on the libs. Even though they believed the fix was in they have rolled snake eyes.
To the MSM: you’re broke. Go home.
Too funny! Now this is a rumour – and just a rumour – that flashed on CNBC. The Illinois governor (the man who will name Obama’s successor in the US senate – that’s democracy for you!) has been accused of threatening the Tribune with withholding state aid to Wrigley Field if the Tribune continues with a story regarding irregularities in state contracts (I think that was it; they flashed past the accusation pretty quickly, but the implication was the Trib was digging up some dirt on the governor’s office). And just this second, they added to it by saying that Dow Jones is reporting the governor is alleged to have threatened a “purge of the Tribune editorial staff”.
I have noticed that the “economic crisis” is an exellent scape-goat for failing companies.