New York Times stock now cheaper than the Sunday paper
The Sunday Edition of the New York Times is $5.00. A share of the New York Times is $3.57
What costs more — a spark plug or a share of General Motors? A Sunday New York Times or a share of the newspaper company? A General Electric toaster or a share of GE?
In the surest sign of the depth of the recession, the products associated with these high-profile companies now cost more than buying a piece of the business.
Shares of some of the most renowned companies have come under assault as the worst recession in decades saps investor confidence and drags major stock indexes to their lowest levels since 1997. Despite Tuesday's 3 percent gain, the Dow Jones industrial average is still off almost 50 percent from its 2007 high — and there's little evidence it's hit bottom.
"This is a time for the history books," said Jim Coons of Coons Advisors, a financial consultant.