Chalk up another quarter of weak advertising sales.
New York Times Co. (NYT) missed second-quarter profit estimates as advertising sales declined for the 14th time in 15 quarters.
Ad revenue dropped 4.1 percent to $156.3 million, the New York-based company said today in a statement. Earnings, excluding some items, were 7 cents a share, compared with the 8 cents projected by analysts, according to the average of estimates compiled by Bloomberg. The shares fell the most in 21 months.
Jill Abramson, the first female executive editor of the Times, was fired in May as the publication — along with most news organizations — struggles to find footing in digital media, where ad rates are far cheaper than in print. In the first quarter, Times Co. reported its first rise in ad sales in more than three years — an increase that Chief Executive Officer Mark Thompson said may not continue.
Times Co. expects third-quarter ad sales to decrease in the “mid-single digits” percentage, with circulation sales remaining unchanged, according to today’s statement.
Sooner or later they’re gonna run out of Carlos Slim’s money.
If you plan to fly, don’t let your cell phone battery run out. TSA will confiscate it, all in the name of “security,” of course.
Fliers headed back to the United States who let electronic devices lose their charge risk having them confiscated, after the Transportation Security Administration announced today that it not allow cell phones, laptops and other devices onto planes at undisclosed overseas airports if they could not be turned on.
The TSA today posted a statement from Homeland Security Director Jeh Johnson describing the new policy, which is intended to reduce the risk that explosives disguised as electronic devices will make it onto aircraft.
“I have directed TSA to implement enhanced security measures in the coming days at certain overseas airports with direct flights to the United States,” the statement read. “We will work to ensure these necessary steps pose as few disruptions to travelers as possible. We are sharing recent and relevant information with our foreign allies and are consulting the aviation industry.”
And if TSA rent-a-cops happen to go home with a few iPhones every day, hey it’s the price we pay to pretend we’re safe.
Any day where public employee unionistas get whacked is a good day for America. And yesterday’s SCOTUS ruling in Harris v. Quinn means the Purple People Beaters will have to refund millions in ill-gotten union dues. Huzzah!
Here’s another good guy with a gun story. You know how it turns out.
Ignorance of the law is no excuse, unless you’re Lois Lerner. Then, “oopsie” is a perfectly fine explanation. Or so her attorney would have us believe.
Life in Obama’s military: Gay Pride one month, Sharia Law the next. Unsurprisingly, not everyone is OK with that.
Is water a ‘right’ in Detroit? The U.N. thinks so but here’s why they are wrong.
Is Barack Obama the OJ Simpson of the Oval Office. Or, just another dog. Why not both?
A spotlight review of Hillary Clinton’s new book: All talk, no action.
And last but not least, a travelogue along Route 66.
(Cross-posted from TheoSpark.net)