A few minutes ago, The New York Times Company shares were traded for less than $14.
This is a 52-Week low.
New York Times Co. dropped the most in almost 10 years after Lehman Brothers Holdings Inc. lowered its earnings estimates for the third-largest U.S. newspaper publisher.
The company market value is now only $2 billion (The Washington Post Company’s value is $5.70 billion, and Gannett is $4.44 billion)
The NYT newsroom is doing a great job, producing a first-class online and off-line paper.
But the business management side is doing a terrible job.
They — including the Sulzberger family — must be held accountable for such a mess.
And it seems that this third-world performance will get worse and worse.
So, don’t buy NYT shares now… they will be quite a bit cheaper in the next weeks.
So far this year, shares have lost 14 percent of their value.