The Times should just cut 600-700 jobs -- he says

As yet another example of the cluelessness of American business, Henry Blodget says the New York Times website can become profitable if only they cut 600-700 jobs. That sounds right up there with GM's decision to merge its highly-profitable and much-loved Saturn division into the rest of the company or Time-Warner's decision to let AOL take it over or, oh, just about any bank you want to notice.  Sure these plans work in short-term since you're just cutting costs.  But none of these guys seem to think about making the product work.