{"id":1845785,"date":"2023-02-14T05:05:21","date_gmt":"2023-02-14T10:05:21","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1845785"},"modified":"2023-02-14T05:05:41","modified_gmt":"2023-02-14T10:05:41","slug":"new-york-times-announces-massive-stock-buyback-program-its-editorial-board-says-that-should-be-illegal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-york-times-announces-massive-stock-buyback-program-its-editorial-board-says-that-should-be-illegal\/","title":{"rendered":"New York Times Announces Massive Stock Buyback Program. Its Editorial Board Says That Should Be Illegal."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-york-times-announces-massive-stock-buyback-program-its-editorial-board-says-that-should-be-illegal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1845785&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<\/p>\n<p>Gray Lady&#8217;s business side is at odds with editorial board\u2019s left-wing positions Getty images    <\/p>\n<p>The <em>New York Times<\/em>It announced last week that it would purchase $250 million worth of its own shares. The Gray Lady&#8217;s editorial board views are at odds with its business decisions.<\/p>\n<p>The Times stock repurchasing program\u2014which is when a corporation buys shares of its own stock in order to lower the supply of available stock and boost the price\u2014is being financed in part with higher-than-expected profits and an 11 percent increase in revenue from 2021, according to the Gray Lady&#8217;s <a href=\"https:\/\/www.nytimes.com\/2023\/02\/08\/business\/media\/new-york-times-earnings.html\">February 8th announcement<\/a>. Following the buyback announcement, the company&#8217;s stock spiked by\u00a012 percent.<\/p>\n<p>Stock repurchasing programmes are a part of the reason. &#8220;American workers have suffered a devastating loss of economic power, manifest in their wages, benefits, and working conditions,&#8221; A June 2020 survey. <a href=\"https:\/\/www.nytimes.com\/2020\/06\/24\/opinion\/sunday\/income-wealth-inequality-america.html\">Times editorial<\/a>. According to the paper, stopping this trend is necessary. &#8220;reversing the legalization of share buybacks.&#8221; Critics like the Times\u00a0editorial board say stock buybacks, which were legalized in 1982, come at the expense of companies investing in workers.<\/p>\n<p>An announcement about the stock buyback could cause more controversy in a workplace already plagued by internal conflict. The Times union management and union are currently engaged in tension contract negotiations. Last December saw the first strike at Times in over 40 years. The paper&#8217;s staff blasted their employer for not being fair. &#8220;wage proposal [that] still fails to meet the economic moment, lagging far behind both inflation and the average rate of wage gains in the U.S.&#8221;<\/p>\n<p>Profits at The Times have increased nearly 50 percent in the last year from $240.9 million to close to $350million by 2022. These figures, according to the union, warrant substantial wage increases.\u00a0<\/p>\n<p>According to a Times reporter, <a href=\"https:\/\/www.newyorker.com\/news\/annals-of-communications\/the-economics-at-the-heart-of-the-times-union-standoff\">New Yorker<\/a> last December, the paper\u2019s CEO Meredith Kopit Levien is more concerned with how she looks to investors by &#8220;fighting for better profits&#8221; She is not what she seems &#8220;about the paper\u2019s long-term reputation,&#8221; which would be bolstered by focusing less on Wall Street\u2019s opinions. Levien\u2019s management style appears to mirror the &#8220;unapologetic pursuit of profit&#8221; In its June 2020 editorial, the Times lambasted.\u00a0<\/p>\n<p>The Times also criticised how &#8220;in recent decades\u2014as the U.S. economy expanded and CEO salaries skyrocketed\u2014workers have been left behind.&#8221; Levien<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New York Times, which has argued in recent years that corporate stock buybacks should be illegal, announced last week that it will purchase $250 million of its own shares, the latest instance of the Gray Lady&#8217;s left-wing editorial board positions being at odds with its business decisions.<br \/>\nThe post New York Times Announces Massive Stock Buyback Program. Its Editorial Board Says That Should Be Illegal. appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":197,"featured_media":1227628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[4156,3664,16523,6616,4207,5908,6644,4359,4126,3859],"class_list":["post-1845785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-announces","tag-board","tag-buyback","tag-editorial","tag-illegal","tag-massive","tag-program","tag-stock","tag-times","tag-york"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1845785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/197"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1845785"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1845785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1227628"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1845785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1845785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1845785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}