Saturday, February 16, 2008

When Profits Aren't Greed

The New York Sun is having way too much fun pointing out the hypocrisy of the New York Times. Like most newspapers, the Times is in trouble. The family that controls the Times would like it to make more money. So where do they turn for help? Harvard? Yale? Nope...

When a director of an oil company tries to make profits for his shareholders, he is accused of "greed." When a Wal-Mart director tries to make profits for her shareholders, she is lectured about being "tight-fisted." But when The New York Times Company's shareholders start getting restless for profits, where does Arthur Sulzberger Jr. turn to for "exceptional individuals"? Why, to veterans of the boards of Wal-Mart and Chevron. When it is the Times that is hoping to make the profits, somehow it isn't "greed" but, as Mr. Sulzberger put it, "skills, expertise and leadership qualities." We couldn't have put it better ourselves.

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