> Obama Regime Report < Obama Regime Report: Nothing Is More Pleasing Than Seeing The Pinch Sulzenberger Ideological Rag And Family Fortune Dead and Gone>>>>

Today's world headlines

Monday, May 11, 2009

Nothing Is More Pleasing Than Seeing The Pinch Sulzenberger Ideological Rag And Family Fortune Dead and Gone>>>>

If the out and out failure of the Bible of the liberal movement isn't proof to liberals that America isn't buying the shit they're selling than nothing will get it through their thick heads, and conservatives throughout the country should pull the financial rug from under every other media bastion of these loons and in two years or less we'll be rid of them all for good.

The truth of the matter is that everything liberal in our society is financially failing. Look at all the liberal papers, the liberal news and TV channels, all union infected industry FAILING FAILING AND FAILING.

So this is how we can beat the liberals to death, by insisting as conservatives nationwide on bankrupting any corporation and large business that isn't family oriented and detrimental to old American values and the disease known as liberalism will choke off and die as all the liberals become unemployed as their favorite companies and propaganda arms die before our eyes.

We're already three quarters there once the Times folds and that's coming in the next month or two. Pich Zulzberger's old man is twisting and shouting in his tomb today you can bet.

See ya, wouldn't wanna be ya "Pinch", have fun in the soup lines you treasonous liberal.


- New York Post: "The family that controls The New York Times empire has lost more than 86 percent of its fortune and may have sell their controlling stake to get out of debt.

The Ochs-Sulzberger family, which has run the venerable paper since 1896, may also face unusual pressure from about two dozen descendants to cash out and restore their comfortable lifestyles snatched away suddenly by hard times.

Until this year, the family had been living on wealth valued as high as $425 million. But today the family is down in their Times' annual income to a paltry $4.5 million, which could shrink even more in the recession.

Soaring losses amid a devastating media slump have drained much of the corporate cash, pushed the company deeper into debt of $1.3 billion and beckoned a stock vulture to its door -- Mexican billionaire Carlos Slim, who this year bailed out the Times with a high-interest $250 million loan that also threatens family control.

Slim, already the second-largest owner of Times common stock, is poised to become the biggest Times shareholder of common stock because he's allowing his loan to be repaid in six years with stock -- either from the family's main trust or a weakened corporate treasury.

If the first year's payment of $47.5 million, due in nine months, is made in stock in lieu of scarce cash, it would soak up a whopping 7.9 million shares -- based on a current price of around $6. At that depressed stock price, it would take about 48 million shares to repay Slim's IOUs.

However, the family trust holds just 8.9 million common and super-voting shares. At that pace of using stock to eliminate debt, most of the shares of both classes available to the family and the Times could be depleted soon, especially since the Times halted its stock buyback program more than a year ago.

Since 2003, it has bought back 12 million shares for its treasury, some of which were used to pay employee bonuses and options.

Just four months ago, the family lost its biggest single source of steady cash from the company -- a 92-cent annual dividend paying nearly $8 million on shares the family trust holds. The family's stock fortune also crashed this year from a high of $411.5 million four years earlier to a low in February of just $30.8 million, rendering it virtually useless to borrow against or pledge in other money-making ventures.

Eight family members continue to work at the company or serve on its board, bringing in total annual paychecks of $4.5 million -- currently the family's only reported source of company income -- which itself is down by nearly half in the last two years.

The biggest breadwinner, Chairman Arthur "Pinch" Sulzberger, 57, saw his $100,500 dividend checks disappear when dividends got canceled earlier this year. His other compensation for running the company got slashed to $2.4 million in 2008, down from $4.4 million in 2006.


The urge to save humanity is always a false front for the urge to rule it. H. L. Mencken

No comments:

Post a Comment

Some rules: No leftwing attacks nor Obama supporters so don't waste you're time & especially mine. All 99% others welcome to have your say.

Web chicagoray.com

One last thing...Fair Use, Photoshop Usage, Legal

Statement on Fair Use

This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner or may be authorized or licensed for publication at this site only. Permission to copy, republish or reproduce such material must be obtained from the original copyright owner PHOTOSHOP STUFF.....When the photoshops appear on this site they either have my name on them becuase I made them or tweaked an original in which case I link to the original by clicking the pic. Please take all you want, that's why they're here, just leave the name as is like I do, and I would be eternally grateful. Ask and I'll tweak it for your site if you need it... More here

Back To The Page Top