Interesting story that the New York Times is mortgaging its new building in Manhattan to keep itself afloat.
What might be forgotten is that New York City officials used eminent domain to kick successful businesses out of that same space the Times building now occupies, in Manhattan's Theater District, in the name of "economic development."
Perhaps these officials assumed, aside from their own infallibility, that the New York Times would never be subject to economic difficulties, or would never go out of business.
But exactly what is the definition of "success" for economic development? If there is one, can the Times now be said to be hitting those targets?
The arrogance of central planners on display.
Photo used courtesy of Freefoto.com.
Wow. Thanks for bringing this to my attention. It would be interesting to see what the NYT wrote about the Kelo decision when it was rendered.
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