I Hung Up on a New York Times Reporter
by Gary North: Rick
Ackerman Defects to the Hyperinflationist Camp After 30 Years
morning, a New York Times Op-Ed writer called me. He wanted
to write a piece where I am quoted. I chose not to talk to him.
I asked him
straight out: "How did you get my phone number?" He said
a staffer had retrieved it. The number is unlisted.
I told him
I was busy. I was in the middle of my monthly Remnant Review
piece. I had a deadline to meet.
I told him
to compliment his researcher.
I choose not
to give interviews, except on rare occasions. I know how the game
is played. It's called selective quotation. I figure if an OpEd
guy is after me, he will be highly selective.
If he has some
published quotations from me, he can cite them. They are public.
They are for citing. But the "phone interview" game I
will not tolerate. I would have no record of what I said. The reader
has no way to be sure I said it. The writer will not run the article
by me to make sure that I approve.
He said he
would say I refused to talk. Fair enough. I surely did.
He had to invade
my privacy to get even that much out of me. He has the ethics of
a telemarketer, but without the respect for sales.
is slowly going bankrupt. Print media are dying. The Times
is flailing around, desperately trying to find a revenue model that
will work. It won't find it.
Mashable ran a
story on the Times. Digital advertising revenues were
up by 11.1% year to year, but this did not offset a 7.2% decline
in print revenue. Overall revenue fell 2.9% in the 4th quarter of
2010, compared to 4th quarter 2009. Circulation revenue declined
profit fell a full 26% compared to the same period in 2009. The
company reported a profit of $67.1 million for the quarter, compared
to a profit of $90.9 million in Q4 2009.
I note that
2009 was a recession year.
President and CEO, said this: "visibility remains limited."
Visibility is clear to the rest of us. The Times is the Titanic.
It has hit the iceberg.
Here is an
21 press release from the Times.
Apr 21, 2011 (BUSINESS WIRE) The New York Times Company
(NYSE: NYT) announced today 2011 first-quarter diluted earnings
per share of $.04 per share compared with $.08 in the same period
of 2010. Excluding severance and the special items discussed below,
diluted earnings per share were $.02 per share in the first quarter
of 2011 compared with $.11 in the first quarter of 2010.
profit was $31.1 million in the first quarter of 2011 compared
with $52.7 million in the same period of 2010. Excluding depreciation,
amortization and severance, operating profit was $60.5 million
in the first quarter of 2011 compared with $83.3 million in the
first quarter of 2010.
are fading fast. It is clear what is happening. The Times
is going belly-up.
is the right woman for the job. She is a master of the art of spin.
operating performance reflects the continuing transformation of
our Company, which intersected with an important milestone in
the first quarter," said Janet L. Robinson, president and
chief executive officer, The New York Times Company. "While
the challenges for our Company and for the larger economy are
not yet behind us, the recent launch of Times digital subscription
packages on NYTimes.com and across other digital platforms brings
our plan for a new revenue stream to life, offering us another
reason for optimism about the future of our Company."
The staff will
be cut. The influence of the paper will fade. It has faded considerably
already. The joy within the conservative world will increase.
At least my
caller has a career escape hatch. He can become a telemarketer.
is really good. That person does have a future in police
work, bail bond jumper tracking, or even the CIA.
will cheer you up. The Daily Show clearly sees the future
of the Times.
North [send him mail]
is the author of Mises
on Money. Visit http://www.garynorth.com.
He is also the author of a free 20-volume series, An
Economic Commentary on the Bible.
2011 Gary North
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