Word: yorking
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...sale of MySpace to Murdoch: On its own, [parent company] Intermix was not much of a prize. It owned a bunch of websites offering games like bingo and animated fart jokes that users could e-mail to one another. It was barely profitable. It had been sued by New York attorney general Eliot Spitzer for distributing spyware inside screen savers, screen cursors and games...
...York Times (NYT) and Washington Post (WPO) both said that they would have to cut jobs and salaries. The falling revenue in the print advertising business is overtaking them and they have no other choice. Sales are dropping, at some newspapers by more than 20% a year. But, many newspapers still have employee and cost bases that were based on the industry's very successful years at the beginning of the decade...
...Martin Nisenholtz has run the electronic and digital operations of The New York Times since 1995. He probably saw problems that the newspaper industry faced when they were still far off. Fourteen years ago, he was dealing with the internet in a period when consumer access to broadband did not exist. Whatever Nisenholtz shared with the people who run The New York Times will probably never see the light of day. It is very probable that if he warned about the possible disruption that the print business might face that the warning was ignored. (Read: "How to Save Your Newspaper...
Since the first, dramatic interventions into the financial system by the Treasury Department and the Federal Reserve during the collapse of Bear Stearns a year ago, Timothy Geithner has based his approach on one underlying theory. The crisis, the former New York Fed president and now Treasury Secretary believes, is the result of the collapse of a shadow banking system that grew over the past 30 years to rival the traditional banking system in size but lacked all four of the safeguards that had been imposed after repeated collapses of the traditional system in the early part of the 20th...
...have recently escaped poverty are not now told by those who have never known it that they have to accept less than they dreamed of. "We cannot deny people their aspirations" said Nandan Nilekani, co-chairman of Indian IT giant Infosys Technologies, in an interview by the New York Times's Thomas Friedman at the New York Public Library this week. Do so, and those denied aspirations will mutate into something much more dangerous...