Times Publisher Pinches X-Mas Gift Amount At $25

A memo from Arthur Sulzberger, Jr. to the Times staff:

To the Staff,

As in years past, the holiday season serves as a good time to remind ourselves of our Company’s policy on receiving gifts.

We are not permitted to accept gifts with a value greater than $25.

While this sum is low, it is intentionally so, for we must avoid the misunderstanding that a gift given (and accepted in all innocence) creates some benefit for the person who gave it.