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...though internet initiatives have had some modest success. But, the New York Times chose to keep a number of newspaper properties which have been in trouble, notably The Boston Globe. Investors should want to know why the board did not demand a plan for restructuring the company. The easy answer is that the founding Sulzberger family controls enough of the voting power of the board so that actions by other members could have been ineffective. That does not mean that the board should have given up its fiduciary responsibilities. Members who believed that their obligation to the shareholders had been...
...board only has to answer one question. With its shares at a multi-year low and trading almost 70% below where they were twelve months ago, why is the company still a conglomerate? The only answer to that is that the board and senior management have decided to keep it that way. It has become harder and harder to defend having entertainment, medical products, and jet aircraft manufacturing under the same roof with several risky financial services units. While the company's CEO has defended that point of view, it is hard to imagine why the board has supported...
...answer is cost. In the West Virginia drug-testing case, which is currently working its way through the federal court system, Judge Joseph Goodwin of the U.S. District Court noted that it costs about $44 a pop to do urine tests, which would cost the West Virginia school district in question about $37,000 a year. (Here's a PDF of Goodwin's preliminary injunction against drug-testing.) That same $37,000 could easily pay for a full-time teacher, meaning that drug-testing would have to be sufficiently valuable to displace an entire teaching position...
...line was "This is primarily an American issue." Finally, on Nov. 20, Putin admitted that Russia too was in trouble. Announcing a $20 billion economic-stimulus package and an increase in unemployment benefits, he said Russians were asking a "fair question" when they wondered about what was happening. His answer: "We will do everything, everything in our power ... so that the collapses of the past years should never be repeated in our country." Says Alexander Kliment, a Russia analyst at the Eurasia Group in New York City: "The Russian leadership turned a blind eye to this crisis until it ended...
Just how protectionist will Europe get as the recession bites? So far, there's no obvious answer to that important question. Some European leaders have expressed concern about the region's protectionist reflexes, while others are already talking about ways to fence in their economies. In a few special cases, leaders appear to be doing both...