The N.Y. Times: A Healthy Flush For The Gray Lady

New presses and new plans have New York Times Co. investors smiling at last

How many times have you heard some variant of this story? A venerable old company is tightly controlled by one family. It's run by a septuagenarian who hasn't named a successor and has been disinclined over the years to run the company in a manner that makes public shareholders happy--or rich. Customers have been abandoning its main product for years. The company said goodbye to an ambitious president--the first nonfamily member to hold that post--with little explanation and a fat severance check.

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