{"id":93,"date":"2005-11-22T14:58:00","date_gmt":"2005-11-22T21:58:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=93"},"modified":"2005-11-22T14:58:00","modified_gmt":"2005-11-22T21:58:00","slug":"land-sale-provides-seattle-times-only-profit","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2005\/11\/22\/land-sale-provides-seattle-times-only-profit\/","title":{"rendered":"Land Sale Provides Seattle Times’ Only Profit"},"content":{"rendered":"

It seems that if not for the real estate bubble, the Seattle Times would have continued their recent in-the-red streak<\/a>:<\/p>\n

The Seattle Times Co. has posted a $24 million one-time gain on its books from the June 2004 sale of 6 acres of South Lake Union real estate.
…
In January, Times Co. officials said their Seattle paper had lost $12 million in 2004. They cited that loss, and growing losses over the four previous years, for eliminating about 100 jobs, raising the single-copy price to 50 cents from 25 cents and cutting back distribution to outlying areas of the state.<\/p>\n

For The Times Co., the one-time gain means its flagship paper, The Seattle Times, will show a profit in 2005.<\/p>\n

“Technically, it will cause us to show a gain for 2005,” company spokeswoman Jill Mackie said, “but that is the result of a one-time transaction and does not speak to the profitability of our operation.” Mackie said that without the land sale, The Times would have posted a loss for the year.<\/p><\/blockquote>\n

Maybe they should get out of the newspaper business and form an REIT. Heh.<\/p>\n

(Bill Richards, Seattle Times<\/a>, 11.22.2005<\/i>)<\/p>\n

\n
Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

It seems that if not for the real estate bubble, the Seattle Times would have continued their recent in-the-red streak: The Seattle Times Co. has posted a $24 million one-time gain on its books from the June 2004 sale of 6 acres of South Lake Union real estate.…In January, Times Co. officials said their Seattle…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[1113],"coauthors":[],"class_list":["post-93","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-uncategorized"],"yoast_head":"\nLand Sale Provides Seattle Times' Only Profit \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, 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