I Am The Anti Craig Options

[Peter Everhard]

call me arrogant, but I think I know more about New York City than a bunch of hard-up nerds holed up in some house in San Francisco. My "apartment listing service" at http://www.tempcity.com/drama/discus/messages/5/867.html makes MORE money than Craigslist's apartment listing service (since craigslist makes $0 dollars from listing aparments for rent). And I would add that my "apartment listing service" makes money without having 5 million hard-up loser fahkers camped out on my website every day "looking for companionship" and buying nothing.

I think Craigslist is a great little resource, obviously perfect for San Francisco.

But, $7 million dollars a year (craigslist's reported annual revenue) is probably what the head of the Corcoran Group in NYC (largest real estate broker in NYC) has in her office "petty cash" bowl.

It is not rocket science to give away free space and free bandwidth to people who don't want to or who can't buy stuff on your website. Plugstar.com is selling itself as "craigslist-like". Is it just coincidence that you don't see a lot of major internet companies eager to jump at a business plan that involves having 5 million free-loaders camped out on your website all day burning up bandwidth and buying nothing?

The whole central concept of local is that a guy in his city can succeed because he knows HIS market better than anyone else (because he lives there).

Craigslist http://forums.craigslist.org/?forumID=20040813
has nothing to do with New York City. Sure, there may be enough hard-up lonely White Females in NYC (and on Long Island and in NJ) to give craigslist some respectable traffic, but come on. There are $8 million people in NYC and only 38% of them are White. DC is 85% Black, Philiadelpia is about 60% Black. There are reportedly 20 million people in the LongIsland/NewYorkCity/NorthernNewJersey metro area. When you consider a potential 20 million customers in the the NYC metro area along, craigslist's traffic and job postings don't even rate a concern by newspapers and websites targeting New York City.

About the only city on the East Coast close to the racial mix of San Francisco is Boston. Is it then any wonder that the next market craigslist is looking to charge for job postings is Boston? Boston is probably the 2nd largest job posting market for craigslist if you consider job postings per % of population.

Maybe craigslist is aiming for the White suburbs rather than the clearly non-White urban areas. The metros on the East Coast have nothing in common with the metros on the West Coast. If in Philadelphia, DC and NYC you can be anywhere in the city in about 30 minutes without having to drive or own a car, why would a significant number of people need to turn to the internet to hook-up or buy stuff?

The idea of craigslist going into every city with the idea that it knows more about those cities than the people in them IS Corporate Arrogance; it shows that when you scrape away the top couple of layers, Craig is just like every other Corporation, they all want to rule the world.

In The End It All Comes Down To Real Estate

For reasons we point out elsewhere, craigslist has a very limited future using job postings for a fee as its sole source of revenue (the government is in the middle of building free job posting websites). All signs points to craigslist trying to morph into a for-a-fee real estate listing service.

In an interview in Wired today, Craig Newmark brags that craigslist is the "most popular" real esate listing service in NYC (is this hard to do when you don't charge a fee?) The top two real estate brokers in NYC (Corcoran Group and Prudential) both cleared $6.5 BILLION dollars in sales last year. Craiglist reported total annual sales are not even in the 100s of millions.

It seems to me that in order to clear $6.5 billion a year in sales year, real estate brokers in NYC MUST have some kind of "popular" listing system that works for them. www.wired.com/wired/archive/12.09/craigslist.html?tw=wn_tophead_7

[Critter]

September 20, 2004 08:58 AM US Eastern Timezone

The New York Times Company Reports August Revenues and Provides Earnings Guidance

NEW YORK--(BUSINESS WIRE)--Sept. 20, 2004--The New York Times Company announced today that in August 2004 advertising revenues for the Company's business units increased 7.8% and total Company revenues increased 3.5% compared with the results for the same month last year.


"Our ad revenue performance strengthened in August, with growth across all of our business groups," said Leonard P. Forman, executive vice president and chief financial officer. "However, September's performance to date, which has been negatively affected by the timing of the Labor Day weekend (normally a period of reduced advertising), has failed to demonstrate the kind of consistent revenue growth we had been looking for as we reach the fall.

"As a result, we are adjusting our full-year earnings guidance to be at or slightly below our 2003 earnings of $1.98 per share, with earnings of 30 to 33 cents per share in the third quarter. While we are not changing our cost guidance for the year, it is likely that expenses will be closer to the mid-single digit end of the range, taking into account expenses related to election coverage, significant editorial product enhancements and the effect of the hurricanes on our southeastern properties."

Advertising results for August were as follows:

The New York Times Media Group - Advertising revenues for The New York Times Media Group rose 6.9% for August 2004 compared with August 2003. National advertising revenues grew as strength in American fashion and entertainment offset softness in transportation, media and financial/insurance advertising. The Times benefited significantly from "T" Style Magazine, its redesigned special section of The New York Times Magazine, which debuted on August 29. In addition, The Times saw increased advocacy advertising related to the Republican National Convention.

Retail advertising revenues increased as growth in department store advertising offset weak home furnishing store advertising. Classified advertising revenues rose with strength in all major categories - help wanted, real estate and automotive.

New England Media Group - Advertising revenues for the New England Media Group increased 9.4% for August 2004 compared with August 2003. National advertising revenues rose as gains in travel and various other ad categories offset weakness in telecommunications and technology advertising. Retail advertising revenues increased as growth in jewelry and home furnishing advertising more than offset softness in sports/toys, apparel/footwear, discount store and department store advertising. The Boston Globe benefited from the timing of the shift of "Your Home Magazine" from September to August. Classified advertising revenues increased on growth in all categories with particular strength in help-wanted.

Regional Media Group - Advertising revenues for the Regional Media Group rose 6.8% for August 2004 compared with August 2003. Retail advertising revenues increased on growth in financial, service business, grocery and specialty retail store advertising. Classified advertising revenues grew as strength in the help-wanted and real estate categories offset softness in automotive advertising.

The Company's Internet ad revenues, which are included in the figures for the three media groups above, increased 31.4% for August 2004 compared with August 2003 due to strong growth in display advertising and in all classified advertising categories.

Circulation revenues increased 0.4% for August 2004 compared with August 2003. Circulation revenues increased for the New England Media Group and were down slightly for the New York Times Media Group and the Regional Media Group.

Broadcast Media Group - Advertising revenues for the Broadcast Media Group increased 10.7% for August 2004 compared with the same month last year due to growth in political, automotive, telecommunications and financial advertising.

2004 Guidance Based on GAAP

Item Previous 2004 Guidance Updated 2004 Guidance
----------------------------------------------------------------------
Total Company Growth rate expected to be in Growth rate expected to
Advertising the low- to mid-single digits be in the low- to mid-
Revenues single digits
----------------------------------------------------------------------
Media Group Growth rate expected to be in Expected to be on a par
Circulation the low-single digits with 2003
Revenues
(Formerly
Newspaper
Group)
----------------------------------------------------------------------
Newsprint Cost Growth rate expected to be Growth rate expected to be
Per Ton in the low teens in the low teens
----------------------------------------------------------------------
Total Company Growth rate expected to be in Growth rate expected to
Expenses the low- to mid-single digits be in the low- to mid-
single digits
----------------------------------------------------------------------
Depreciation & $145 to $150 million $145 to $150 million
Amortization
----------------------------------------------------------------------
Capital $220 to $250 million $175 to $205 million
Expenditures (a)
----------------------------------------------------------------------
Net loss from Breakeven to a loss of Breakeven to a loss of
Joint $5 million $5 million
Ventures
----------------------------------------------------------------------
Interest
Expense $42 to $46 million $42 to $46 million
----------------------------------------------------------------------
Tax Rate 39.5% 39.5%
----------------------------------------------------------------------
Diluted Growth rate expected to be in EPS expected to be at
Earnings Per the low- to mid-single or slightly below the
Share digits over 2003 EPS of $1.98 in 2003
$1.98
----------------------------------------------------------------------
(a) Due to delays, costs in 2004 related to the Company's interest in
a new headquarters are now expected to be $55 to $65 million. The
Company expects to occupy its new headquarters in 2007.


Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by the Company's various markets and material increases in newsprint prices. They also include other risks detailed from time to time in the Company's publicly-filed documents, including the Company's Annual Report on Form 10-K for the period ended December 28, 2003. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

The New York Times Company (NYSE: NYT), a leading media company with 2003 revenues of $3.2 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com. For the fourth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune's 2004 list of America's Most Admired Companies. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

THE NEW YORK TIMES COMPANY
2004 TOTAL COMPANY REVENUES (a)
AUGUST AND YEAR TO DATE

Total Company Revenues
($ 000's)
August Year to Date
---------------------------------------------------------
% %
2004 2003 Change 2004 2003 Change
-------- --------- ------ ----------- ----------- ------
Advertising
Revenues
News Media
National( $56,471 $52,185 +8.2 $580,288 $563,362 +3.0
Retail© 32,656 31,110 +5.0 291,818 286,538 +1.8
Classified(d) 42,952 39,906 +7.6 398,557 382,915 +4.1
Other Ad
Revenue(e) 3,358 2,735 +22.8 28,337 23,731 +19.4
--------- -------- ---------- ----------
Sub-Total 135,436 125,936 +7.5 1,299,000 1,256,547 +3.4
Broadcast
Media 11,478 10,364 +10.7 97,309 88,633 +9.8
--------- -------- ---------- ----------
Total
Advertising
Revenues 146,915 136,300 +7.8 1,396,309 1,345,180 +3.8

Circulation
Revenues 67,689 67,404 +0.4 591,271 592,129 -0.1
Other
Revenues(f) 17,307 20,339 -14.9 141,276 139,664 +1.2
--------- -------- ---------- ----------

Total Company
Revenues $231,910 $224,043 +3.5 $2,128,856 $2,076,973 +2.5
========= ======== ========== ==========

(a) Numbers may not add due to rounding.

( Includes all ad revenue from the International Herald Tribune.

© Includes all preprint revenues.

(d) Includes legal advertising.

(e) Primarily includes ad revenue from the Regional Media Group's
magazines.

(f) Primarily includes revenues from wholesale delivery operations,
news services, direct marketing, digital archives and commercial
printing.

THE NEW YORK TIMES COMPANY
2004 ADVERTISING REVENUES (a)
AUGUST AND YEAR TO DATE

Total Company Advertising Revenues
($ 000's)
August Year to Date
---------------------------------------------------------
% %
2004 2003 Change 2004 2003 Change
--------- --------- ------ ----------- ----------- ------
News Media
New York
Times Media
Group ( $73,441 $68,683 +6.9 $757,862 $739,934 +2.4
New England
Media Group
© 35,504 32,456 +9.4 311,612 297,974 +4.6
Regional
Media Group 26,492 24,797 +6.8 229,526 218,638 +5.0
--------- --------- ----------- -----------

Sub-Total 135,436 125,936 +7.5 1,299,000 1,256,547 +3.4

Broadcast
Media 11,478 10,364 +10.7 97,309 88,633 +9.8
--------- --------- ----------- -----------

Total Company
Ad Revenues $146,915 $136,300 +7.8 $1,396,309 $1,345,180 +3.8
========= ========= =========== ===========

(a) Numbers may not add due to rounding.
( The New York Times, NYTimes.com and the International Herald
Tribune.
© The Boston Globe, Boston.com and the Worcester Telegram & Gazette.

THE NEW YORK TIMES COMPANY
2004 NEWS MEDIA AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
AUGUST AND YEAR TO DATE

% Change % Change
August '04 YTD '04
vs. August '03 vs. YTD '03
-----------------------------

News Media
Help-Wanted +18.6 +11.6
Real Estate +9.8 -2.0
Automotive +0.1 +7.4

THE NEW YORK TIMES COMPANY
2004 PRINT ADVERTISING VOLUME (a)
(Inches in thousands, Preprints in thousands of copies)
AUGUST AND YEAR TO DATE

August

2004 2003 Change
-------- -------- ------
National ( 160.4 150.8 +6.4
Retail 463.4 470.4 -1.5
Classified 750.4 759.6 -1.2
-------- --------
Total ROP 1,374.1 1,380.8 -0.5
-------- --------

Part Run/ Zoned 155.3 140.1 +10.8
-------- --------
Total 1,529.4 1,521.0 +0.6
======== ========

Preprints 217,567 205,902 +5.7


Year to Date

2004 2003 Change
--------- -------- ------
National ( 1,581.2 1,596.3 -1.0
Retail 4,146.7 4,237.2 -2.1
Classified 6,670.5 6,676.3 -0.1
--------- ---------
Total ROP 12,398.4 12,509.8 -0.9
--------- ---------

Part Run/ Zoned 1,448.5 1,354.0 +7.0

Total 13,846.9 13,863.8 -0.1
========= =========

Preprints 1,787,730 1,765,555 +1.3


(a) Advertising volume is based on preliminary internal data, which
may be updated in subsequent reports and may not be indicative of
advertising revenue or operating profit. Numbers may not add due
to rounding.

( Includes all ad volume from the International Herald Tribune.


This press release can be downloaded from www.nytco.com

Contacts


The New York Times Company
Catherine J. Mathis, 212-556-1981
E-mail: mathis@nytimes.com
or
Paula Schwartz, 212-556-5224
E-mail: schwap@nytimes.com