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 AJR  Letters

From AJR,   June/July 2012  issue

Donít Judge a Company By One Paper   

Thurs., April 5, 2012.

By Unknown

In his column "Investing in Quality" in your Winter 2011 issue, John Morton asserts that the New York Times Co. has outperformed its competitors while making minimal staff cuts. Unfortunately, Morton makes a simplistic error when he interchangeably uses "the New York Times" and "the New York Times Co." The New York Times Co. may have invested in one of its properties, the New York Times, in recent years, but it has done so while making major cuts at its other properties. For example, the Ledger in Lakeland, Florida, laid off 20 employees and cut eight open positions in 2010. [The Times Co. subsequently sold the paper.] The Boston Globe threatened to close its doors unless employees took significant pay cuts, which they did. The New York Times is a newspaper owned by the New York Times Co. One shouldn't judge a whole company by one part.

Ted Craig

Managing editor

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