The New York Times Company has just issued its 4th quarter financial results.  Their long term trend of slowly sinking into the sunset continues.  Total revenues fell 2.9% from the same period a year ago.  Net Income fell 29% and earnings per share fell from $.63 to $.45.   The long term trend shows no real improvement as advertising revenues continue to decline.Since February 3, 2004 when the New York Times Company closed on the New York Stock Exchange at $45.69 a share, it has steadily eroded to the point where the latest quote as of today is $10.56 (a decline of 77%).   By contrast the Dow Jones Industrial Average during this same period has gone from 10,409 to 12,037 today (an increase of 16%).  The Company continues to scramble to sell assets and find new sources of borrowings in order to keep afloat.  However, there seem to be few questions asked as to why the loss of readership which impacts advertisers.  Over the period 2004 to...(Read Full Post)