Gothamist: NY Times Takes Loan Out Against...NY Times Building

TSOL

Mon, 08 Dec 2008 12:45:23 -0500

Turns out catering to the tastes and politics of the Upper West Side chattering classes doesn't make for a profitable business model on a national scale.

NannyState

Mon, 08 Dec 2008 12:09:57 -0500

^ Pretty soon, terms like 'bankruptcy' will be replaced by "renewal" or "a refresh". But $225 million isn't enough to pay that $400 million note that's due in May. The Times had better start selling everything else off as well. I'm calling dibs on Maureen Dowd's Aeron chair. And I'll only buy it if they don't clean the seat.

famdoc

Mon, 08 Dec 2008 11:14:46 -0500

I read this story in the Times business section this morning, just as Bill Keller was telling NPR that the Times was "strong" "profitable" and whatever other lies he could think of. We have become a culture of financial lies: CEOs tell lies and their accountants create lies just to convince investors that their stock has value. How many more companies will sail off into the sunset on a sea of positive financial reports?

nomnomnom

Mon, 08 Dec 2008 11:14:04 -0500

So what's going to happen if the value of their building goes down if the market gets worse - like all the people in the mortgage collapse.

r1b2

Mon, 08 Dec 2008 11:03:29 -0500

That place looks like a big ol' jungle gym.

citizenerased

Mon, 08 Dec 2008 10:39:05 -0500

They should charge people to climb their building.

everyAframe

Mon, 08 Dec 2008 10:31:44 -0500

...a spokesperson from The Times tiredly awaits to roll eyes at Nick Denton as he sits downtown feverishly typing yet another "print is dead, blogs are the future" post to put on one of his blogs that he's still convinced he'll sell for millions.

Alex

Mon, 08 Dec 2008 10:29:59 -0500

I blame Bill Kristol.