Word: yorking
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...that the boards of the New York Times Co. and Yahoo! will not craft a merger. It would give the newspaper a larger audience and potentially better advertising income. It would allow Yahoo! to step away from using the Associated Press, the wire service whose news stories go out to thousands of media outlets around the world, making its product dumbed down for readers...
Both Yahoo! (YHOO) and the New York Times Co. (NYT) reported earnings for the first quarter, and there was noticeable synchronicity between them. Yahoo!'s revenue dropped 13%, to $1.58 billion, and net fell nearly 80%, to $118 million. Based on the portal firm's forecasts, a slip below projections in the second quarter could take net income down to break even...
...York Times Co., management put on mourning clothes for their earnings call. Revenue fell a little over 18%, which was closer to Yahoo!'s drop than champions of Internet advertising would like. Advertising revenue killed the newspaper company's sales by dropping 27%, to $335 million. Fans of paying for content will note that subscriber revenue was up 1%, to $229 million, but that money came from people buying physical papers and not online content. (See 25 people to blame for the financial crisis...
...model has again been proposed as a viable solution—relying solely on a subscription service does not bring in enough revenue to allow rating agencies to innovate and keep up with increasingly complex financial products. Other officials have focused on fixing the mechanics of this structure. New York Attorney General Andrew Cuomo, for example, announced an agreement with rating agencies in June in which issuers simply pay for rating agencies to review the securities with no requirement to produce a rating. Relieving this pressure to produce could foster objectivity and minimize conflicts of interest. In that case, though...
...Federal Bureau of Investigation's use of so-called "national security letters," which allow the bureau to get information from private organizations without court supervision. And there is mounting concern about the National Security Agency's use of its spying powers on Americans. Just last week, the New York Times revealed that the agency had attempted earlier this decade to eavesdrop without a warrant on a member of Congress traveling overseas. Obama, who has frustrated some civil-liberties advocates with his stated preference to focus on the future rather than the past, is also likely to face continuing pressure from...