Saturday, April 04, 2009

Cutting Losses.

The New York Times would have been well-advised to shutter The Boston Globe and The International Herald Tribune last fall. Both are losing vast amount of money (the Globe loses $7 million a month), and there's not even the remotest chance of a turnaround.

For whatever reason, Arthur Sulzberger has been unable to make these two decisions. If he wants to save The New York Times Company and its flagship newspaper, then prepackaged bankruptcies for the Globe and the IHT are necessary first steps. It's as simple as that.