{"id":4888,"date":"2005-09-21T12:57:00","date_gmt":"2005-09-21T12:57:00","guid":{"rendered":"https:\/\/tomfarandasfolly.com\/?p=4888"},"modified":"2025-09-24T00:01:27","modified_gmt":"2025-09-24T00:01:27","slug":"ny_times_going_","status":"publish","type":"post","link":"https:\/\/tomfarandasfolly.com\/?p=4888","title":{"rendered":"NY Times going in the dumper – firing 500 people"},"content":{"rendered":"
\n

 <\/p>\n

The NY Times is going in the dumper – yesterday
\nthey announced the firing of 500 employees. AND three years ago their stock
\nprice was $47.05. Yesterday it was 31.13. The S & P 500 over the same time
\nframe has risen just under 45%. The math is bad for the Gray Lady.<\/p>\n

Here’s
\nwhat the Company had to say: In a memo to staffers, company chairman Arthur O.
\nSulzberger, Jr. and CEO Janet Robinson wrote: "We regret that we will see many
\nof our colleagues leave the Company; it is a painful process for all of
\nus."<\/p>\n

How fair is this? The Sulzbergers are centi-millionaires – in fact
\nbillionaires. A quick back of the envelope calculation says that 500 employees
\ntimes $70,000 a year in salary and benefits (and that salary figure is probably
\nhigh) costs $35,000,000 a year.<\/p>\n

This is chump change to the Sulzbergers –
\nit’s probably the interest on a few of their treasury bonds. So why don’t they
\nshow some good example to the rest of the wealthy people in America and put a
\nkind of voluntary "Tax" on their wealth by putting the money into the Company to
\nsave these jobs?? "Painful process" indeed. Now that they are charging $50 a
\nyear to access the NY Times "Crown Jewels" – their op ed writers Krugman, Dowd,
\net al, they are sure to make up their shortfall in no time at all.<\/p>\n

The
\nNYT needs to hire Roger Ailes to get this mess cleaned up. Or maybe KKKarl
\nRove.<\/p>\n

My brother Phil says that the pink slipped employees "They were
\nfact checkers, many of whom worked for Krugman. Not needed."<\/p>\n

I wish I’d
\nthought of that line.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

  The NY Times is going in the dumper – yesterday they announced the firing of 500 employees. AND three years ago their stock price was $47.05. Yesterday it was 31.13. The S & P 500 over the same time frame has risen just under 45%. The math is bad for the Gray Lady. Here’s […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4888","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/4888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4888"}],"version-history":[{"count":1,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/4888\/revisions"}],"predecessor-version":[{"id":9917,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/4888\/revisions\/9917"}],"wp:attachment":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}