Time now catching up with great Gray Lady; NY Times faces weak ad recovery and heavy costs of big year for news.(Stocks)(Brief Article)(Statistical Data Included)

Crain's New York Business, September, 2002 by Gandel, Stephen

Byline: stephen gandel The gray lady may soon need her walker again. Yes, the shares of The New York Times Co. are up 13% this year, closing at $48.77 on Friday. And true, they have far outrun the stocks of many other heavyweight old-media companies, much less the anorexic young Internet companies.

But the Times' nimble stock market performance could soon grind to an end. After all, much of the gains stem simply from shell-shocked investors embracing the venerable newspaper legend as a safer haven than its competitors. Worse, a long expected rebound in advertising for the company's newspapers, which include The Boston Globe and 16 smaller papers, has fallen short of hopes. In August, the first up-month of the year, sales rose a mere 2% versus year-earlier...

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