I go to http://www.nytco.com/
So what was the closing price of the NYT Company last night?
45 cents below $10.
$10 for me has always been the tipping point price.
With all the bad news from last week I blogged on, and more I am yet to do (notably the Moody's credit rating moves), and with a shocking Friday on WS (which surely anyone with a brain knew was coming), I can't say this is a surprise.
The question for NYT Company investors is quite simply this.
Fight or flight?
This company is in deep trouble.
They have to come up with a game-changing plan so good investors will go for it. Have they got one? I see no evidence.
They have to reduce debt and off-load some assets.
The Boston Globe? The regionals? The IHT? Who would buy them in this market and at what price? Who knows....
READ AN ALTERNATIVE IHT DAILY NARRATIVE AT
A PLACE IN THE AUVERGNE