Arthur Ochs 'Pinch' Sulzberger, Jr., the scion of a family dynasty founded by his great grandfather, is well into the process of destroying the patrimony handed to him on a silver platter. Even worse, the whole world is starting to notice, something which will make other family members distinctly unhappy. And because the family controls the election of a majority of the board of directors of the New York Times Company, despite owning a tiny fraction of the actual equity (thanks to a two class system of shares), this unhappiness could affect Pinch's tenure in office.

No less an authority on corporate governance than Arianna Huffington, whose credentials