Buy High, Sell Low Business Model

(Boston, Massachusetts)

After purchasing the Boston Globe in 1993 for a then-record $1.1 billion, the financially troubled New York Times just announced that it sold the 141-year-old paper to Boston Red Sox owner John Henry for a mere $70 million.

That's a straight 93% loss.

Figuring in two decades of inflation would only make it worse -- as does the fact that the Times retains the Globe's pension liabilities, estimated at over $100 million.

After learning basic arithmetic, a grade-schooler would likely see the flaw in the Times business model.