A year ago, The New York Times Co. made $23.9 million in profit. This week, the company reported a loss of $335,000. That's about the worst quarter-to-quarter loss the company has ever seen. Bet its CEO is thinking: "Holy crap! We're screwed!"
Like all newspaper companies, it seeks above all else to maintain a traditionally high profit margin (around 15 to 17 percent industry wide) to placate investors.
you can drop the word "newspaper" and it explains very well why trickle down never works.
the tightening of the belts are always from the bottom up.
and remember the INCOME made by investors is taxed at a lower rate than the income of the reporters.
Because......
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