I was irritated and cranky this morning. But I feel a bit better after doing my work is done I’ll wander web a bit browsing: The NY Times share values hit a low since 1991 today:
A debt to cash ratio almost “sub-prime”:
At the end of the quarter, the company had $46 million in cash and about $1.1 billion in debt.
And how about this jewel of good news:
September revenue fell 8 percent, and news media group ad revenue dropped 14 percent. Digital ad revenue also is slowing because of a decline in display advertising.
Take heart, Times management is on the case:
The Times said it has "little visibility" on how ad revenue will be in the fourth quarter, but said the October declines were similar to those in September.
It couldn’t happen to a worse bunch of fellows.