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Wednesday, July 30, 2008

How Can The New York Times Be Worth So Little?

Business Week details their downward-spiraling valuation, and wonders how much lower they can go. I have a few ideas why it is declining... starting with using the front page as an editorial page. Also accepting editorials from Obama and then refusing to print McCain's rebuttal. Ten years ago that would have been unnoticed, but in this age of bloggers and multiple news sources, people are getting wise to their little tricks. They have feted John McCain for years as an example of a Republican with backbone and principles, because he has gone counter to his colleagues and the Administration on many issues, but now that he is running against a Democrat, he is Bush III. Funny how that works. I wonder if McCain feels abandoned. They run a front page article trashing him seemingly every other day. Highlights include their unsubstantiated allegations of a relationship with a female lobbyist. But mentioning John Edwards recent affair is apparently completely off limits. On Monday, they had a big expose about McCain's role with the International Republican Institute, attempting to connect his leadership of an organization that promotes democracy with large contributions to the group from lobbyists. Yet the article makes no mention of McCain using his influence improperly. Instead, guilt by association practically screams between the lines. However, once you get to the portion on the back pages, you find that McCain was responsible for weaning the organization off federal funding and depoliticizing the selection of board members. Criticism comes from unnamed left-wing organizations that warn ominously of its "neo-conservative agenda". What that agenda exactly is no one can say, although they are alleged to have supported a coup against Hugo Chavez two years ago. Sounds like a great organization to me! Where do I sign up? Meanwhile, I'm still waiting for their exposes on Barack Obama, like what exactly he did as a "community organizer". And what exactly has he done with his time in the Senate, or even the Illinois statehouse. Aside from voting against funding for Afghanistan and then three months later traveling overseas and lecturing everyone about how we can't lose sight of the important struggle ongoing there. Although we should apparently lose sight of our struggle in Iraq and withdraw ASAP. There has to be a point when having the NYT on your side is a liability, but hopefully Obama's campaign will remain oblivious, while continuing to complain about the bias at FOX News.
The root problem with the NYT is the Sulzberger family, but they show no signs of relinquishing their firm grip on the board, or on its leftward slanting views. Until they do so, I predict they will continue to wane in influence, which is a shame for a paper once considered "The Paper of Record".

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