The New York Times reports that over 25% of those foolish enough to still be holding NYT Class A shares withheld their votes for board members at yesterday's shareholder meeting.
Hint to those still owning NYT common: Sell
The NYT article linked has a very nice graphic supporting the advice given above. The NYT lost 47% of its value in the past two years and shows no sign of arresting the rate of descent. There is no evidence that the Ochs/Sulzberger families have lost faith in the lackwitted family scion whose incompetency and demonstrated lack of judgement is destroying the trademark so bailing out before impact seems a very reasonable suggestion.
Sedition must remain its own reward.
UPDATE: - If the Ochs-Sulzberger families get rid of Pinch within the next year the stock is a buy. Under lucid management the company is worth at leat what it was two years ago.
Friday morning links
32 minutes ago