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Politics : Politics for Pros- moderated

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To: DMaA who wrote (143711)	10/19/2005 12:18:26 PM
From: Oral Roberts	Read Replies (2) of 794210

This is truly a shame:) N.Y. Times Earnings Fall in Third Quarter AP ^ \| Oct 19 \| SETH SUTEL The New York Times Co. said Wednesday its earnings fell by more than half in the third quarter... Net income of $23.1 million...in the July-September period, down from $48.3 million...in the comparable period a year ago. The company also said it would take an additional total charge of $35 million to $45 million over the next three quarters, beginning in the fourth quarter, for another staff reduction program it announced last month that will eliminate 500 jobs... Janet Robinson, chief executive of the Times, said in a statement it saw improved advertising growth in September, but the market in the third quarter had been "challenging." In September, the Times said it would slash about 500 jobs over the following six to nine months. About half of the cuts will be at the New York Times media group, including 45 newsroom positions at the Times newspaper. The Times' shares fell 21 cents to $27.54, below a 52-week low, in morning trading on the New York Stock Exchange. The shares have traded from $27.74 to $41.62 in the past year. (Excerpt) Read more at breitbart.com ...

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