Wednesday, October 17, 2007
Sulzberger finally drove off Morgan Stanley this morning. Or, from a slightly different perspective, Morgan Stanley decided that the NYT offers no prospects for profit within a reasonable time period. Reuters is somewhat circumspect in their reportage (a concordance of thieves?) but The Street takes off at least one glove.
Will Moody's, Standard & Poor and Fitch's step up to the plate on behalf of the dimwits dumb enough to still own the stock? I doubt it. They still need a press shield to protect them from close examination concerning their role in the subprime debacle.
At this point, any fund continuing to hold NYT 'A' shares is open to attack from its own shareholders. All it will take is a good land shark.