This blog is mainly about the spectacular train wreck at The Sacramento Bee and its parent company, the McClatchy Company. But I also post about current events, the Iraq and Afghanistan wars, politics, anything else that grabs my attention. Take a look around this blog, hope you enjoy it.
Wednesday, November 12, 2008
Wednesday Nov. 12 -- Got news, or a question?
If you have news or a question, leave it in comments.
8 comments:
Anonymous
said...
MNI removed from Naked Short list today. Have at it folks!
Oh, it means that you can borrow shares to sell short without the lending agent actually having all the shares available to lend you. Say you want to short 100k shares and your broker only has 1000. No problem he can lend it to you 100 times.
It means Gary Pruitt is going to be depanted, greased and screwed in a matter of no time, as MNI will collapse below a buck, dragging the total capitalization of the company below $75 million. Thanks to Pruitt's ambition, the conmpany has already a debt load that is 10 times its current worth. What an unbelievable and frightening disaster.
Ominous event tomorrow at McClatchy Interactive. Hastily called all-hands staff meeting Friday (tomorrow) at 7:30 AM. Corporate execs will be on site. Very short notice, staff was first notified only earlier today.
McClatchy, based in Sacramento, Calif., also plans to outsource some financial functions to Infosys Technologies, based in India. The Star began outsourcing some advertising production work to the company earlier this year, and Zieman said some accounting functions may be outsourced as well. He said 10 or fewer people would be affected.
I' m still waiting to hear what manager or vp got cut Monday at the KC Star? Quess their going to do finance now next week. More for India and yes they had to train thier replacements. That's a class organaization isn't it?
8 comments:
MNI removed from Naked Short list today. Have at it folks!
What does that mean?
Oh, it means that you can borrow shares to sell short without the lending agent actually having all the shares available to lend you. Say you want to short 100k shares and your broker only has 1000. No problem he can lend it to you 100 times.
It means Gary Pruitt is going to be depanted, greased and screwed in a matter of no time, as MNI will collapse below a buck, dragging the total capitalization of the company below $75 million. Thanks to Pruitt's ambition, the conmpany has already a debt load that is 10 times its current worth. What an unbelievable and frightening disaster.
Thanks 9:27
Ominous event tomorrow at McClatchy Interactive. Hastily called all-hands staff meeting Friday (tomorrow) at 7:30 AM. Corporate execs will be on site. Very short notice, staff was first notified only earlier today.
Next week the finance department finds out who's going to be let go based off of comments made by the publisher in the September layoffs.
http://www.bottomlinecom.com/kcnews/65letgoatkcstar.html
McClatchy, based in Sacramento, Calif., also plans to outsource some financial functions to Infosys Technologies, based in India. The Star began outsourcing some advertising production work to the company earlier this year, and Zieman said some accounting functions may be outsourced as well. He said 10 or fewer people would be affected.
I' m still waiting to hear what manager or vp got cut Monday at the KC Star? Quess their going to do finance now next week. More for India and yes they had to train thier replacements. That's a class organaization isn't it?
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