After coming close to death earlier this year, the New York Times Company (NYT) finally hit the panic button. Since then, it has done exactly what it should be doing:
* Raising the price of the paper for subscribers and on newsstands
* Sharply cutting costs
* Explore charging for online access.
These are precisely the steps we recommended earlier this year, and they are buying the company time to figure out a long-term strategy.
But let's be clear about two things:
* First, the company doesn't have a long-term strategy yet.
* Second, the current moves cannot go on forever.