Junior In Freefall

Tuesday, June 13, 2006
Junior Sulzberger needs to take some lessons from Ospring I. Or, perhaps, it is the remaining fools who continue to hold New York Times Class A stock.

My short notes on the performance of NYT Class A only occurr when the stock passes another dollar sign on its way to ???

The stock closed at $22.92 after touching $22.87.

How does sedition taste when you roll it around in your mouth, Junior? Has it lost its fruity bouquet yet?

BTW - Volume was up on the stock - there are some institutions squeezing out on a down day.


chuck said...

Wow, that was fast. Wonder where the near term bottom is?

Skookumchuk said...

Eighteen bucks by December 31st?

David Thomson said...

“Or, perhaps, it is the remaining fools who continue to hold New York Times Class A stock.”

They are indeed fools. Only members of the Sulzberger family can make meaningful decisions. Outsiders are forced to simply go along and watch their investment get increasingly smaller. I get the impression that the family is so wealthy that it cares little whether Pinch is currently losing millions. If the Sulzbergers lost 99% of their total wealth---they would still likely remain multimillionaires!

Rick Ballard said...

"Wonder where the near term bottom is?"

I don't think there is one. The Sulzberger ownership precludes typical board action - removal of the failed CEO - so there is no way to evaluate a potential stopping point.

It's still not a short unless you've got an iron stomach. As rich as the Sulzbergers are they could still decide that Junior is too big a liability and firing him is worth at least a 20% bounce.