Thursday, July 24, 2008

Yet more ignorance from the NY Times

They are losing buyers, so they raise the price:
The New York Times suffered a 16.4 per cent decrease in June advertising revenues and warned on Wednesday that the effects of high oil prices, a slowing economy and the housing crisis were likely to weigh on its prospects for some time.

The June performance followed an 11.9 per cent decline in May advertising revenues, and suggested that an already deep erosion in newspaper advertising could be accelerating. Ms Robinson said the company would respond by raising newsstand prices for the New York Times from $1.25 to $1.50 per copy beginning in August, marking the paper’s second increase in a year.
This also explains their advocacy of increasing taxes, while not paying attention to whether that actually increases revenue or reduces poverty.

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