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| Economy |
| NYT Sitting On $686 Million It Could Give the Homeless |
| 2020-05-11 |
| The New York Times is deeply concerned about the homeless, as we know from the heart-rending articles it runs about them.But when push comes to shove, it tells the government and the public (quietly) that it doesn't have to worry about the virus, because it's sitting on a big pile of cash. Hypocritical bastids. From page 20: [SEC.gov] The worldwide economic slowdown caused by the pandemic also led to a decline in our first-quarter 2020 advertising revenues, and to the extent conditions persist, we expect that our advertising revenues will continue to be adversely affected, including in the second quarter of 2020. However, our strong balance sheet has enabled us to continue to operate without the liquidity issues being experienced by many other companies. As of March 29, 2020, we had cash, cash equivalents and short- and long-term marketable securities of $686.9 million, and we were debt-free. We believe our cash balance and cash provided by operations, in combination with other sources of cash, will be sufficient to meet our financing needs over the next twelve months, enabling us to continue hiring in our newsroom, and in product and technology and continue investment in important growth areas. |
| Posted by:Matt |
| #3 Lying is their business and business is good... |
| Posted by: M. Murcek 2020-05-11 07:53 |
| #2 Actually they grew subscription revenues y-o-y by nearly 20%. Ad revenue declines were almost entirely offset by screaming fur theyr subscription-paying left-lib base. Plus their office rental increased by $8m, enabling total revenues to increase slightly. Essentially this business operation resembles a Church that caters to the Faithful: revenues consist of 1) tithes and 2) rental income on the Church's valuable real estate holdings. |
| Posted by: Lex 2020-05-11 06:59 |
| #1 our strong balance sheet has enabled us to continue to operate without the liquidity issues being experienced by many other companies. As of March 29, 2020, we had cash, cash equivalents and short- and long-term marketable securities of $686.9 million, and we were debt-free. Anybody who can read a fuckin' balance sheet can see this is bullshit - $100 million in accounts payable? A $300 million pension obligation? A total of $200 million in short and long-term 'other' liabilities? Trying to blow smoke up our asses again? More Fake News, that one. |
| Posted by: Raj 2020-05-11 06:35 |