Tuesday, May 5, 2009

Typical liberal math - Just like those in Congress the NY Times math is fuzzy

In an attempt to get Unions who are demanding more the Boston Globe is trying to avert its demise when the NY Times (who owns the paper) gave the negotiations another day to resolve the $20 million in cost savings or shutter its doors.The life of this liberal rag is being dragged under by expensive labor demands and sinking ad revenues as the Globe was operating in 2008 to the tune of a $50 million dollar loss and are expected to end 2009 to the tune of a $95 million dollar loss. So $20 million keeps its doors open?The NY times bought the newspaper for a whopping $1.1 billion dollars and has lost money ever since. Economists estimate that the value of the paper to be around $20 million today and declining every day.

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