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Home Front: Culture Wars
New York Times Q3 profit plummets by 95.7 percent
2016-12-28
HT AOSHQ sidebar
This may have been reported last month, but it's still joyous news to be spreading during the yuletide.

The New York Times Co. reported an astounding 95.7 percent drop in profit in the third quarter, Reuters reported. Buried way, way down in the Nov. 2 article, the third-to-last paragraph to be precise, it states:

Net profit attributable to the company fell 95.7 percent to $406,000, or break-even per share, hit mainly by restructuring charges related to headcount reductions.

In other words, profitability for the parent company of the rotten, anti-American New York Times was more or less eliminated.

Wow.

Keep up the good work.
Posted by:Frank G

#8  lord garth - that rental won't help for a while. They have 8 floors of dead space (actually, have - I understand these floors have been empty for the better part of the year), then it'll take them 6 months (best case scenario) to renovate to the new lessee's specs, all the while getting no $ from it. It's worse than it looks until the space is rented.

Yes I do follow this closely - why'd you ask?
Posted by: Raj   2016-12-28 19:08  

#7  This is old news, guys - wait for next month's Q4 shitshow...
Posted by: Raj   2016-12-28 19:05  

#6  To quote Insty...."Faster please."
Posted by: AlanC   2016-12-28 16:37  

#5  Next stop - penny stock
Posted by: M. Murcek   2016-12-28 16:22  

#4  less here than meets the eye

Q3 in 2015 had an extra ordinary gain which makes the comp look bad.

Once the NYT rents out the bottom 8 floors of their biz, they will have a nice revenue flow not related to the journalism biz (other newspapers have done this). Of course the newspaper business model is failing but that's for almost all newspapers.
Posted by: lord garth   2016-12-28 15:39  

#3  Board must be reading Krugman's articles.
Posted by: swksvolFF   2016-12-28 13:06  

#2  Search Results -
headcount reduction. Process in which the number of employees at a specific organization are reduced due to a change in circumstances. This reduction in the number of employees may be attributed to a drop in sales or other services.
Posted by: Procopius2k   2016-12-28 12:24  

#1  HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!

Die you evil bitch!!! DIE!!!!

I may be getting waaaay to much enjoyment out of this...
Posted by: DarthVader   2016-12-28 12:19  

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