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New York Times Now
If the Chairman of IBM, Louis Gerstner,
had had more support of the shareholders when Pinch was elected Chairman
of the Times, a qualified executive would have
been elected and not the son of the present Chairman, who had serious
qualms and did so only because he did not know what else to do ---
and was rushing to elope with his new bride who had suddenly become
the most important thing in his life.
It is not necessary
to spend a fortune to be able to vote and it is not necessary to attend
the annual meeting. If many people would do so, it would be very important
to our country.
In addition, it could
be a bonanza. The Los Angeles Times went through a similar crisis
a few years. When the shareholders kicked out the controlling family,
their stock immediately doubled in price.
As of
the closing of the market yesterday, the stock for the New York Times
Co. (symbol: NYT) was selling at $24.64. According to an analysis
of ratings by sixteen analysts from the Wall Street Journal, two report
a "strong buy" none report a "buy", thirteen report
a "hold", one reports an underperforming stock and none
report a "sell".