A sad WaPoWashington Post Co. Earnings Plummet in Third Quarter
By Frank Ahrens
Washington Post Staff Writer
Friday, October 31, 2008; 10:52 AM
The Washington Post Co. today reported an 86 percent decline in third-quarter earnings compared with the same period last year, as a significant loss at the flagship newspaper offset gains at the company's education and cable divisions.
For the quarter, The Post Co. had net income of $10.3 million ($1.08 per share) on $1.1 billion in revenue, compared with net income of $72.5 million ($7.60) on $1 billion in revenue in 2007.
The company's newspaper division -- which includes The Post, the Everett (Wash.) Herald and several community papers -- reported an operating loss of $82.7 million for the quarter, largely resulting from a $59.7 million goodwill impairment charge at the Herald and the small papers, reflecting their diminished value. The loss also includes $12.5 million in accelerated depreciation of The Post's College Park printing presses.
Must suck having to write an article about your own paper's decline. It is kind of on par with having to fill out your own pink slip. So sad.
Oh well, I'm sure the good folks at WaPo will be able to find a good job elsewhere. Maybe the NYT is hiring? I'm sure their paper is doing just fine! :-D
Let us all order many subscriptions of
Many of my Truly Enlightened Progressive Comrades have argued for years that there is no such thing as the "liberal media". The central thesis is that all media outlets are owned by corporations; corporations are inherently right wing and are primarily only concerned with making profit. I suppose that the litmus test of a truly Progressive organization is to piss away as much money as possible without regard to profit or consequences while advancing left wing ideals.
Given what we've seen of WaPo's and NYT's economic misfortunes, woeful mismanagement and resolve to continue spreading Party Pravda even if it destroys them, I think it's safe to say that both companies are indeed, liberal. And by liberal standards, they are doing a great job.
May MSNBC follow!
The upside is the masses won't be able to tell the difference!
Umm, what is that you say? Too direct? Oh. Right. Right. I will change it at once, Commissar.
The children are our future. Every night a child dies of hunger and a capitalist pig feasts on his bones...
Or is that just children experiencing a fleeting pang of "food insecurity?" (Which according to Party dogma for purposes of continued federal funding of select programs, is the same thing.)
Or am I thinking of the acres of rainforest being destroyed by evil real estate developers?
No, wait--I have it confused with the square miles of polar ice cap melting due to Bush-Cheney-Halliburton-Exxon Mobil induced (more popularly abbreviated to "man-made") Global Warming.
Or maybe it refers to the number of smears and lies about Obama spread by the fearmongering McCain-Palin hatemongering machine.
Whatever, Begemot, but either way your numbers are off and therefore suspicious. And for that we will be watching you very closely.
Perhaps you are not familiar with the socialist tactic of argument by anecdote? I assure you Comradette that it is more effective to present the masses with a singular focus of attention than to confuse them with tedious numbers (which we banned at the 22nd Communist International for their tacit assumption of reality, lest you need reminding).
An anonymous symbol left to the imagination of the proles can coalesce their imagination and unleash the deliciously self-destructive forces of irrational guilt and manipulable sympathy. To achieve this effect, you need to discover the universal in the particular and the particular in the universal (as that upside down cat Hegel used to mutter about). There is no need to slight our own track record by attributing millions of deaths to that freak phenomenon capitalism.
Frankly I am insulted that some consider a cadre of (Jewish) bankers and accountants on par with our communist brethren in terms of effectively causing human misery and suffering. Communism has claimed the exclusive right to brag about the millions of deaths it caused through The Great Leap Forward, The Purges, The Five Year Plans, and even by those amateurs at the Khmer Rouge.
We alone have the power to change the world for the good of that peculiar parasite who calls himself man. It just so happens that the good of man means the destruction of civilization. In those terms, we have the bourgeois lightweights licked.
And we will be watching you Commissarka!
Commissarka PinkieI wouldn't worry too much about the pending collapse of the NYT, WaPo, NBC et al, because the Obama Administration will bail them out, and they will officially become state-owned and operated.
Agreed! I've been saying for the last couple of years that NYT in particular is just holding on until the one party state is restored and they can form the core of the new, state controlled media conglomerate. And like you said, nobody will notice any difference.