"How did it come to pass that an opposition's measure of a president's foreign policy was all or nothing, success or "failure"? The answer is that the political absolutism now normal in Washington arrived at the moment--Nov. 7, 2000--that our politics subordinated even a war against terror to seizing the office of the presidency." - Daniel Henninger - WSJ 11/18/05
"the slovenliness of our language makes it easier for us to have foolish thoughts." - George Orwell

Friday, May 05, 2006

Paper of record coming up short

According to Morning Coffee the paper of record is coming up short. Perhaps it has a little to do with printing news that isn't fit to print.

Wall Street Traders boost bets on falling shares:

Investors are increasing their bets that the slumping New York Times stock, which has plunged 25 percent in the past year, won't bounce back anytime soon.

Short sellers, who profit when a stock's price falls, increased their positions to 14.6 million shares in April. Short sellers held 14 million shares in March and just 6.4 million shares last April.

Yesterday, the stock closed at $24.24, down 6 cents or 0.25 percent. The stock has not been this low since October 1998.

The blossoming short selling in Times stock is a key sign that investors feel the newspaper titan and its boss, Arthur "Pinch" Sulzberger, Jr., have done little to quell stockholder unrest that cropped up at its mid-April board meeting.


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