New York Times Finally Moves To Save Itself (NYT)

New York Times Finally Moves To Save Itself (NYT): “No sooner had we written our latest update about the New York Times' cash crunch than we saw that the company is finally dealing with it:

NYT: The New York Times Company plans to borrow up to $225 million against its mid-Manhattan headquarters building, to ease a potential cash flow squeeze as the company grapples with tighter credit and shrinking profits.

The company has retained Cushman & Wakefield, the real estate firm, to act as its agent to secure financing, either in the form of a mortgage or a sale-leaseback arrangement, said James M. Follo, the Times Company’s chief financial officer.”