It's more than just idle speculation. The Times is sitting on a lot of debt that comes due in that time-frame, and they have no obvious way to pay it off.

They can't just keep selling their few profitable assets forever.

Earnings reports released by the New York Times Company in October indicate that drastic measures will have to be taken over the next five months or the paper will default on some $400 million in debt. With more than $1 billion in debt already on the books, only $46 million in cash reserves as of October, and no clear way to tap into the capital markets (the companyÂ’s debt was recently reduced to junk status), the paperÂ’s future doesnÂ’t look good.

“As part of our analysis of our uses of cash, we are evaluating future financing arrangements,” the Times Company announced blandly in October, referring to the crunch it will face in May. “Based on the conversations we have had with lenders, we expect that we will be able to manage our debt and credit obligations as they mature.” This prompted Henry Blodget, whose Web site, Silicon Alley Insider, has offered the smartest ongoing analysis of the company’s travails, to write: “‘We expect that we will be able to manage’? Translation: There’s a possibility that we won’t be able to manage.”

Emphases added.

While Thomas Lipscomb (quoted at Newsbusters) may gloat about this, the fact is that we just may lose a critical newsgathering resource here, an important institution keeping check on the American government, with profound implications for our democra--

Aw, I can't even pretend. Gloat. Gloat like the wind.

Should Bloggers and Conservatives "Just Get Over" Media Bias? Reader JK wrote:

Re: your story on Palin's interview, you touched on something quite important and maybe vital. I think <> needs to suggest to the conservative new media that we collectively handle media bashing as you suggest - not let them off the hook exactly, but deal with it and move on.



I suspect that media bashing happens because of both frustration and the sheer impotence of seeing injustice scrawled in the headlines. I also suspect it (a left of left of center media) won't change until all liberal baby boomer editors / producers who feel entitled to change the world are dead or dying. To constantly berate them for acting in their own perceived best interest is both futile and a little ridiculous. So the clarion call would be nice.

I wrote back:

I actually think about what you say from time to time. It does seem absurd to constantly bash the media. It is as pointless as arguing with glaciers.

But as futile as it is, it is simply too big a part of blogging/alt media to ever give up. . The media is, for better or worse (worse mostly), our principal vehicle for fact. Everyone relies up on it, even conservatives. It is too important to make sure they're not lying and to point out when they are to "just deal with it and move on."

There is also a catharsis aspect here. The media pisses people off, including myself. Part of the appeal of blogs and blog-commenting is the shout-at-the-tv aspect, that is, when you're tired of shouting at the tv and want to say it "to the world," as it were. That may be kind of an illusion itself, but is, for me and a lot of people, an appealing illusion.

I have to admit there is a certain cringe factor in me, just out of the sheer numbing repetitiveness of it, when I write my sixty three billionth post on media bias. A lot of readers are probably less than thrilled to see a not-so-fresh addition to the ever-growing oevure.

I mean, I don't even really mention Guess That Party stories that often. There are too many of them. I mention one here and there. But for every one I mention, there are three I don't bother noting because, hell, what is the point?

I'm not sure it would be a good thing to abandon, or even significantly scale back on, bashing the media for bias. The criminal justice system is basically just an unending processing of the same hoods to the same prisons, but we don't say we ought to just stop that because it is, ultimately, a futile effort. Some things you just have to do because of, well, truth and justice and the American way and all that.

More: In a follow-up, JK expresses, I think, the idea that unending media criticism limits the seriousness of bloggers and alt-media writers. Well, that's true, but it is, at least in my case, a point that speaks to an overdetermined situation anyway -- I'll never be taken seriously. And for good reason. Apart from the law, in which my skills long ago lapsed, I am an expert in nothing at all; while other bloggers are experts in one or two fields, most are experts in none.

Media criticism isn't a very prestigious thing because the entrance requirements are so low. And it's those forgiving entrance requirements that make it an appealing pursuit to morons like myself.

That gets, though, at my botherment at Sarah Palin's interview. The media, when they presumptuously act as political players, are anklebiters. I think Palin has to deal with the ankelbiters as briefly as necessary to make her point and move on to her real opponents: Barack Obama, Harry Reid, Nancy Pelosi, and, perhaps one day, Putin and Ahmadinejad and bin Ladin. The anklebiters should be left to the ankelbiters of the anklebiters, that is, bloggers and media critics. Otherwise it diminishes her, as she spends precious time dealing with hacks and no-account no-name no-talent partisans in the press, when she should (eventually, at least) be dealing with people who simply matter more than Katie F'n' Couric.

Posted by: Ace at 07:42 AM | Comments (106)
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The President-Elect is about to give a "major economic speech" where he'll layout the rationale for his stimulus plan. Needless to say, it's pretty much the same demand side argument we've heard from him over the last year or so.

President-elect Barack Obama said Thursday that the U.S. recession could "linger for years" unless Congress acts to pump unprecedented sums from Washington into the U.S. economy, making his highest-profile case yet on an issue certain to define his early presidency.

"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible," Obama said in a speech set to be delivered at George Mason University in Fairfax, Virginia, outside Washington. Excerpts from his prepared text were released in advance by his transition team.

"A bad situation could become dramatically worse," he said, painting a dire picture -- including double-digit unemployment and $1 trillion in lost economic activity -- that recalled the days of the Great Depression in the 1930s.

If spending were the key to prosperity, given all the increased spending the federal government has been doing over the last few years, especially over the last year, shouldn't we be rolling in the rainbows and unicorns by now?

Possibly complicating Obama and the Democrats plan, the Chinese don't seem so keen on continuing to play banker to us. Hmmm, I wonder why.

I'll update if anything interesting comes out of the speech but I'm guessing it'll be more scare mongering and demand for huge increases in spending.

Posted by: DrewM at 07:14 AM | Comments (58)
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The New Age Of False Propaganda; Nutroots Edition

This is a few days old but it just came across my tipline this morning.

A racist sockpuppet attack was launched on TeamSarah, a pro-Palin site. Lefty cocksuckers (ding!) deliberately made racist comments on the site, then used those comments to 'frame' Palin supporters as racists on Huffington Post.

Thanks to Kelly, we now have screen shots, IDÂ’s, and IPÂ’s of a number of individuals who have planned an effort, and attempted to implement it, to act as agent provocateurs and discredit Team Sarah by planting racist and other unsavory material as if they were members.

Trying to defame an opponent by spreading false rumors is nothing new, of course. But the internet has breathed new life into its effectiveness as a political weapon. Yay.

At the link you'll find comments left on another site by the conspirators.

I cherrypicked this one:

ItÂ’s our duty to steer the site away from reason and into the realms of racism and insanity just in time for the 2012 primaries, and then to ensure Palin is the Republican nominee.

It's an admission that they don't believe their agenda can prevail unless they abase and dishonor themselves.

And who here doubts that the MSM will give them an assist? I'll go waaay out on a limb and say they'll continue to ignore their professional standards, and be shockingly incurious about legitimate claims of sabotage.

Thanks to TC.

Posted by: LauraW at 06:44 AM | Comments (83)
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This could get out of hand very quickly.

A Hezbollah minister in Lebanon's Cabinet is denying any involvement by the militant group in the firing of rockets from Lebanon into Israel.

At least three rockets were fired, and Israel responded with a few artillery shells into Lebanon, which borders the country to the north. The exchange threatened to open a second front as Israel continues its offensive against the militant group Hamas on its southern border, in the Gaza Strip.

Two people were lightly injured, and the rockets that exploded in Israel's north raised the specter of renewed hostilities with Hezbollah, just 2 1/2 years after Israel battled the guerrilla group to a 34-day stalemate. Hezbollah started the 2006 war as Israel was battling Palestinian militants in Gaza.

No group claimed responsibility and Lebanon's government, wary of conflict, quickly condemned the rocket fire.

I'm sure the UN will spring into action as a result of this latest attack, as soon as they find a way to blame Israel for it.

Thanks to Dave in Texas for the heads up.

Good Background [ace]: Not on the Hezballah attacks, but on the current struggle in Gaza.

To be honest, it's one of those pieces I'm embarrassed about recommending because it explained basic stuff I really should have known before but didn't. (Which things? I don't want to say. Admitting ignorance about basic matters would, um, undermine my blogger authority.)

So without getting into precisely which facts I was wholly ignorant of, let me just recommend it.

Better yet, let me pretend I knew all of this, and just recommend it for you morons, who probably don't know as much as a big-time professional blogger.

But then, who does? Who could? I'm part of the media 'n shit. We know everything. It's our job.

Posted by: DrewM at 06:30 AM | Comments (28)
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I've been a parent for almost three years now. Being the father of two girls has taught me many things: girls are really sensitive to the tone of your voice, kids don't really smell until you introduce them to solid food, sleep is optional, and when your little girl asks you to wear pink hats, bracelets and necklaces it's best to just do what she asks and let go of your misguided sense of dignity.

The most potentially troubling realization, though, is how expensive it is to raise a kid. Being a parent has diversified what I spend money on. Instead of buying movies, books, and meals at restaurants, I'm shelling out cash for diapers, clothes, car seats, diapers, toys, added food costs and did I mention diapers? Don't get me wrong, I love being a dad more than anything in the world, but it does lead to considerably less disposable income. One of the more costly items is clothing, which makes our local secondhand store a frequent stop. Kids get bigger when you feed them. Who knew?

So imagine my surprise when my co-worker told me today that Congress, in its infinite wisdom, recently made being a parent more expensive, at least for those who don't want to break the bank on kid's clothes.

Barring a reprieve, regulations set to take effect next month could force thousands of clothing retailers and thrift stores to throw away trunkloads of childrenÂ’s clothing.

The law, aimed at keeping lead-filled merchandise away from children, mandates that all products sold for those age 12 and younger — including clothing — be tested for lead and phthalates, which are chemicals used to make plastics more pliable. Those that haven’t been tested will be considered hazardous, regardless of whether they actually contain lead.

“They’ll all have to go to the landfill,” said Adele Meyer, executive director of the National Assn. of Resale and Thrift Shops.

Posted by: Slublog at 05:21 AM | Comments (77)
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more...

Posted by: Ace at 08:44 PM | Comments (86)
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With John Ziegler of HowObamaGotElected.com.

I don't like this interview. I was trying to figure out why. I think I know. Even though it's interesting to know about Palin's reaction to her mistreatment by the media, I think we are now getting well oversaturated on such personal stuff. It's too much the Heroine's Tale, which is nice and all, but we're ultimately looking for a leader, not someone with a tale of hardship.

The media screwed her -- this is obvious. Maybe she should just move past such questions -- not letting them off the hook, but also not dwelling on them -- and make her interviewers focus on substantive, political questions.

I, of course, love to slam the media for its bias. A lot of readers and commenters love it too. I'm just not sure if it's a very savvy use of Sarah Palin's time to comment upon it herself.

This is Ziegler's pet issue (no offense intended). I get why he's asking, and I get why Palin's answering. I just think at some point she has to pivot from a defense of the campaign to speaking purely about the issues ahead. I think this stuff kind of diminishes her. It's too much celebrity-type stuff, not enough statesman-type coverage.

Maybe I'm wrong. Maybe she has to do this now, and get it all on the record, and the time for the pivot is later. But sometime she needs to pivot.

Posted by: Ace at 07:58 PM | Comments (142)
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Almost to the end of the week. (Dear Lord, let it be the end of the week soon. ::whimper:

Also, vote for AOSHQ in the Best Conservative Blog category. Remember, you can vote every 24 hours per computer. Our lead is slipping a little and I'd like it if we won. You will like it if we win too.

You will be very unhappy if we lose.

And, finally, if I could have the attention of Los Angeles-area readers: I am trying to gauge your interest in a pre-inauguration Moron Meetup. I have tentatively selected the evening of Saturday, January 17th at a new location on the West Side (since folks seemed a little tired of our previous venue). It is still technically in Santa Monica, but practically in West L.A. Hopefully, unlike a few folks at the November Meetup, you guys will have no trouble finding us in this place.

Please email me so I can get an idea of how many people are interested. You can reach me at gabriel.malor@ [the google email]. For a very good reason (like you have firm plans to be diagnosed with brain cancer on Saturday evening, but will be free on Sunday) or if enough people ask, I will consider changing the day.

Posted by: Gabriel Malor at 05:01 AM | Comments (39)
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One of Russia's main natural gas pipelines to Europe runs through Ukraine. Unfortunately, the Ukrainians haven't paid their bills agreed on a price for gas this year, so in order to keep them from tapping into the pipeline and taking the gas they need, the Russians are cutting off supplies to everyone. With temperatures reaching 20 degrees below zero, some fear a humanitarian disaster in affected countries.

SlovakiaÂ’s Government followed Bulgaria by announcing that it may have to restart a mothballed Soviet-era nuclear power plant.

The Balkan states, which rely almost completely on Russian gas and have failed to develop modern infra-structures or alternative energy sources, have been the hardest hit at the time of the Orthodox Christmas.

In Sarajevo, the capital of Bosnia-Herzegovina, there were bitter memories of the Bosnian conflict from 1992-95, when the population cut down trees to try to stay warm or bought coal on the black market.

Sven Alkalay, the Bosnian Foreign Minister, said: “Four million of our citizens are in danger.” Almir Becarevic, the manager of the state gas company, said: “If this lasts it could turn into a humanitarian disaster. We pray that someone can find a solution.”

...Yet 12 countries received no Russian gas at all yesterday: Austria, Bulgaria, Slovakia, the Czech Republic, Bosnia, Croatia, Greece, Hungary, Macedonia, Romania, Serbia and Turkey. France, Italy, Germany and Poland reported that their supplies from Russia were markedly down.

So who could have foreseen the Russians using their control over energy supplies in this way? Oh, just a guy named Ronald Reagan in 1982.

At that second link Accuweather meteorologist Joe Bastardi notes that the Russian actions may have been designed to coincide with the current drop in solar activity as predicted by Russian scientists.

It's almost as if the Russians aren't nice guys, the Sun might have something to do with temperatures here on Earth and global cooling is a much greater danger than global warming ever was.

And a President who promises to shackle us with expensive anti-global warming programs takes office in 13 days. What could go wrong?

Posted by: DrewM at 07:21 PM | Comments (73)
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Vote for Ace of Spades HQ, please.

Thanks.

Posted by: Gabriel Malor at 06:49 PM | Comments (7)
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