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May 02, 2007
Don't Give Up the Day Job
My, my, hasn't Punch done well for his shareholders:
So the building the Times no longer owns is worth more than the Boston Globe, according to most valuations.
In the time the Times Company has owned the Globe, its value has gone down by 50 percent.
In the Times Company has not owned its building, it has increased in value threefold.
May 2, 2007 in Media | Permalink
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Comments
I think the gentleman's nickname is actually 'Pinch'.
http://en.wikipedia.org/wiki/Arthur_Ochs_Sulzberger_Jr.
Pedantic, I know, but...
Posted by: Martin | May 2, 2007 1:28:07 PM
Not being entirely fair, I think. A newspaper company hasn't done as well as real-estate in the middle of a real-estate bubble? Well duh.
Posted by: Kay Tie | May 2, 2007 3:04:47 PM
The New York Times is always predicting that the Wicked Dubya Administration will lead the country into economic ruin. So why would they not sell prime Midtown Manhattan real estate? Office rents are sure to crash in the Greater Depression that Bushitlerburton's policies are 100% guaranteed to cause any day now...
In a world of Gulfstream environmentalists and abstinence-czar whoremongers, it's kind of refreshing to learn that there are still some people who actually practice what they preach.
Posted by: xj | May 3, 2007 12:23:17 AM
