S&P says it may cut ratings on N.Y. Times debt

Newsday reports not all is well at the New York Times:

Standard & Poor's credit rating company said Wednesday it was reviewing its rating on debt held by The New York Times Co. a day after the newspaper publisher lowered its earnings forecasts.

The Times' shares also sank $2.13 or 6.6 percent, to close at $30.00 on the New York Stock Exchange Wednesday. The company announced the lower guidance as well as plans to cut about 500 jobs, or 4 percent of its work force, after the close of stock trading on Tuesday.

Check out the chart on the NYT.A gap lower isn't a good sign.