How can it improve? That is the question?
Imagine if they hadn’t outbid a few of us in acquiring About.com? Why hasn’t the Times re-purposed all of that old media cash flow into bigger new media properties and buy next generation growth? They have so many smart people that write about new media. They always offered so much advice to people editorially, why can’t they fix their own house? Why can’t they identify great young Web 2 .0 companies to acquire and help them grow? What are they waiting for? It is time to act and do something. 
Apparently, the NYT doesn’t believe in strategic planning. History is littered with the remains of businesses that refused to acknowledge change.
Good riddance to the NYT. No matter what media they morph into they’ll still be the Times with its snotty attitude and opportunistic moralizing.