NY Times about to run out of money?

[villager]

New York Times (NYT) Running On Fumes
Henry Blodget | October 23, 2008 12:06 PM

Not sure how it came to this so fast, but the New York Times (NYT) is approaching the point where it will have to manage its business primarily to conserve cash and avoid defaulting on its debt. This situation will only get worse as advertising revenue continues to fall, and it will be very serious by early next year.

The company has only $46 million of cash. It appears to be burning more than it is taking in--and plugging the hole with debt. Specifically, it is funding operations by rolling over short-term loans--the kind that banks worldwide are cancelling or making prohibitively expensive to save their own skins

<snip>

http://www.alleyinsider.com/2008/10/new-york-times-nyt-running-on-fumes

[Winterblues]

1. Guvmint "bailout"...Guvmint has lots a money

:shrug: Gots to keep the propaganda happening.

[SammyWinstonJack]

5. ...

x(

[vditty1979]

2. Money to Lend

I am a mortgage broker and I do not think that they will run out of money with all of the money that is being pumped into the system. Despite all the racket there is money to lend and interest rates are low right now with a 30 year at 5.75 and a 15 at 5.25%

[kenny blankenship]

3. Countdown to Murdoch buyout offer 5-4-3-2-

[lynettebro440]

4. Their friends will bail them out

its party time for these folks.

[HeraldSquare212]

6. NYC used emininet domain and let them use tax-free bonds to build their new building,

so they've already gotten the help: they have a big asset to mortgage.

[pitohui]

7. i can';t figure out how they expect to make money

who buys a newspaper anymore? it is just a waste of trees

i know, they try to sell content online but all they did was make themselves irrelevant since there is plenty of other news content -- more than you could ever keep up with it -- available online for free

the buggy whip maker had to shut down sometime