Paunch Sulzberger has taken the Times into waters unvisited since January '97. There aren't many CEO's who are allowed to stay at the helm during the transformation of their mighty ship into a puny submarine. Losing more than 62% of a large public companies value is reserved to only those companies owned by families which are too dumb (or too cowed) to make an obviously necessary change. The Sulzberger family richly deserves the reduction in value of their holdings and it can only be hoped that they are obstinate enough to allow Panch to complete the total destruction.
Go get 'em, Ponch, you're definitely the right man for the job.