"We have staked the whole of all our political institutions upon the capacity of mankind for self-government, upon the capacity of each and all of us to govern ourselves, to control ourselves, to sustain ourselves according to the Ten Commandments of God." James Madison

Tuesday, July 25, 2006

Say it ain't So!

From The American Thinker

Insiders selling NYT Company shares Source

Barron’s reports that insiders at the New York Times Company are selling their shares: insiders including: Robert H. Eoff and P. Steven Ainsley, both group presidents; publisher Richard H. Gilman; vice president Catherine J. Mathis; and director Cathy J. Sulzberger. Since January, ... have sold a total of 8,800 shares for a total of $232,200.

”[I]t obviously seems that insiders do not expect a surge anytime soon,” Moreland notes.

Michael Painchaud also points out that “the historical insider-sale-to-purchase ratio [at New York Times] is very high, relative to other companies. Heavy net-selling is the norm here, and insiders have been very correct” in selling New York Times shares during the first half of the year as the price slid.

Meanwhile, long-term value investors Morgan Stanley and Fidelity are buying on weakness, adding to their holdings of class A shares. Of course, Class B shares, held by the Sulzberger/Ochs family, control the election of the Board of Directors, so a hostile takeover is unlikely. But as Rosslyn Smith has astutely pointed-out, a number of interesting scenarios are conceivable. Morgan Stanley and Fidelity are both renowned for their investment acumen.

Ed Lasky 7 25 06

It appears the New york Slime is having just a little trouble these days. I wonder if there was more said by the Whitehouse than what we were privy to... Makes ya wonder anyway.

Hat Tip to: TheEducatedShoprat