Word: mirrored
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Times Mirror Co. is having it particularly rough. Its largest paper, the Los Angeles Times, has suffered through the hard economic times and weak advertising climate that have gripped Southern California since the early 1990s. And New York Newsday, one of four major papers in a city that many say can profitably support only two, had been gushing red ink -- as much as $100 million since its founding a decade ago. Times Mirror's profit margin has been 9% to 10%, well below the industry average. And Times Mirror stock has floundered, falling from $53 a share...
...cuts will trim about 700 jobs at the Los Angeles Times, 150 of them editorial, through layoffs, attrition and early retirement. The paper is closing several regional sections. Times Mirror is also giving second thoughts to its effort to enter cable-TV programming. While New York Newsday has stopped publishing, some staff members may be moved to Newsday's flagship paper on Long Island, which has been consistently profitable...
...says the downsizing is just prudent management. "Expenses at the L.A. Times are higher than at other newspapers," he explains. "To get our returns back up to a competitive level, we have to get staffing down." But some contend that the Chandler family, which owns controlling shares of Times Mirror, is at fault for taking huge dividends instead of reinvesting in the company. Willes, said one L.A. Times veteran, "is a hit man for the Chandler cousins...
Wall Street does appear pleased. Times Mirror stock has risen more than 20% since the first layoffs were announced, and more than 50% since Willes was named ceo. "Ultimately, the business of journalism is still a business," notes Doug Arthur, a publishing analyst at Morgan Stanley. "Companies exist to make money and reward shareholders." The question is whether newspapers will be able to reward shareholders and readers at the same time...
Despite these backbreaking efforts, the U.C. student body clearly does not mirror the state's ethnic diversity. Latinos account for a quarter of California's population but only 15.5% of U.C. students. African Americans, 7% of the state population, are just 4.4% of the student body. Only whites are represented among the students and the population at large in about the same proportion...