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, January 14, 2009
McClatchy shares still drifting down... on the verge of falling below $1 a share
McClatchy (MNI) shares closed at $1.10 per share Wednesday, down 6% from yesterday's close.
It seems obvious MNI will fall under $1 a share soon. . .
4 comments:
Anonymous
said...
JUST POSTED NO MNI stock message board.
More bad news for McClatchy. One of their largest department store advertisers, Gottschalks, filed bankruptcy today. This company has stores in California and Washington, and many MNI papers carried their ROP and inserts. Just when it looks like things couldn't get any worse, more bad news surfaces. Potential revenue loss to MNI is well over $2,000,000 on an annualized basis, based on external estimates.
In addition, Gary Pruitt, CEO, Chairman of the Board, and King of McClatchy, still is employed, while good hard-working people continue to be fired. When will he be shown the door? When? Today is 2 years too late!
The Tacoma, Washington McClatchy paper introduced a new web format this morning. At least from a Firefox browser it is a disaster. Everything shifted to the left (well maybe that is symbolic) and text jumbled.
If this is the way they are going to move into the online world, $1 is way too high for the stock.
SACRAMENTO, Calif. The McClatchy Company (MNI) announced today that its [fourth quarter 2008 earnings] conference call will be accessible live to the media and general public via internet webcast and through listen-only, dial-in conference lines.
The conference call will be held on [Thursday, Feb. 5, 2009,] at [noon Eastern, 9 a.m. Pacific time.] McClatchy's earnings announcement will be released to newswire services [before the market opens on Feb. 5.] The full text of the announcement and the financial tables also will be available on McClatchy's website.
4 comments:
JUST POSTED NO MNI stock message board.
More bad news for McClatchy. One of their largest department store advertisers, Gottschalks, filed bankruptcy today. This company has stores in California and Washington, and many MNI papers carried their ROP and inserts. Just when it looks like things couldn't get any worse, more bad news surfaces. Potential revenue loss to MNI is well over $2,000,000 on an annualized basis, based on external estimates.
In addition, Gary Pruitt, CEO, Chairman of the Board, and King of McClatchy, still is employed, while good hard-working people continue to be fired. When will he be shown the door? When? Today is 2 years too late!
The Tacoma, Washington McClatchy paper introduced a new web format this morning. At least from a Firefox browser it is a disaster. Everything shifted to the left (well maybe that is symbolic) and text jumbled.
If this is the way they are going to move into the online world, $1 is way too high for the stock.
http://www.thenewstribune.com/
McClatchy to Webcast Fourth Quarter 2008 Earnings Conference Call
PRNewsWire News Releases
SACRAMENTO, Calif.
The McClatchy Company (MNI) announced today that its [fourth quarter 2008 earnings] conference call will be accessible live to the media and general public via internet webcast and through listen-only, dial-in conference lines.
The conference call will be held on [Thursday, Feb. 5, 2009,] at [noon Eastern, 9 a.m. Pacific time.] McClatchy's earnings announcement will be released to newswire services [before the market opens on Feb. 5.] The full text of the announcement and the financial tables also will be available on McClatchy's website.
You guys are brutal. Why do you think I come back to your great site day after day.
Keep up the good work boys!
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