this was found in the NYTIMES :
….Ms. Swinton, a consistently brilliant actress, seemed more like an ancient Druid than a movie star.
“It was a huge victory for the Celts,” she said, cradling her statue at the Governors Ball after the ceremony. “Spain, France, England, we all served as a reminder that it was Europeans that invented Hollywood in the first place.”
….er what the fuck?
this quote was taken from
Not sure how it came to this so fast, but the New York Times (NYT) is approaching the point where it will have to manage its business primarily to conserve cash and avoid defaulting on its debt. This situation will only get worse as advertising revenue continues to fall, and it will be very serious by early next year.
The company has only $46 million of cash. It appears to be burning more than it is taking in–and plugging the hole with debt. Specifically, it is funding operations by rolling over short-term loans–the kind that banks worldwide are cancelling or making prohibitively expensive to save their own skins:
At the end of the quarter, cash and cash equivalents were approximately $46 million and total debt was approximately $1.1 billion. The Company’s current source of short-term funding is its revolving credit agreements under which it had approximately $398 million in borrowings outstanding at the end of the quarter.