How much longer will Pinch Sulzberger's family allow him to drive the family fortune into the ground? Under his leadership, the company has not only turned to the hard left editorially, it has committed a series of business blunders imperiling their prosperity.

We reported in March that the company was in danger of having its bond rating cut to just one step above junk bond status.  According to this, Standard & Poor's has now made that ratings cut. This will mean that many bond funds will be unable to purchase NYTCo debt, meaning that the company will have to pay sharply higher interest rates on its borrowings. 

I have labeled this process the "slow motion business collapse" of the company. And the evidence keeps accumulating justifying this judgment. From its vermin-infested brand new headquarters to its now-unneeded (because so many readers have deserted its metropolitan editions) huge printing plant in New Jersey (Pinch's first bright investment idea), and physically shrinking newspaper, the company blunders along, as clueless managerially as it is editorially.