shows the company had an 8% profit margin for the first few months of
the year, which is less than half the 19% margin it boasted in the
first half of 2008.
Tribune is “still profitable, but significantly less so than last year,” Mr. Corbett said.
Instead of revenue, the company reports operating receipts, which were
down 14% from the beginning of the year to $1.36 billion as of May 31.
Despite the drop in operating receipts, the company took in $112
million more in cash than it spent between January and the end of May,
bankruptcy filings show.
Okay, I know in Wall Street World this is an epic disaster, but in my world you don’t get sympathy when you make $112 million more than you had to spend, in the shittiest economy in 30 years.
If only we could come up with a way to monetize content! If only people would pay for the news!