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.
Friday, February 6, 2009
What's with the heavy MNI activity on the market?... the number of shares traded Friday was more than double the normal volume
McClatchy (MNI) shares closed at 71 cents a share Friday, unchanged from Thursday's close. But check out the extremely heavy volume -- by the end of the day 985,000 shares had changed hands. The volume on an average day? Just 443,000 shares. . .
10 comments:
Anonymous
said...
Question. I saw the volume but the stock did not go down. Why. I wish understood this better can somebody help?
Pruitt says, “We'll experiment with paid content online, but you lose...” Good luck with that. ---------------------- Pruitt: "We'll experiment with paid content online, but..." ..most experiments show that you lose more online revenue than you gain per subscriber."
Several large institutional investors adjusted their portfolios. Most sold positions in McClatchy but one global outfit bought shares in just about every death watch company on the exchange.
Go get 'em, Tiger, I couldn’t agree more. *** Lexington Guild responds to pension freeze February 5, 2009
Brandon Ortiz, area vice president, Lexington Newspaper Guild unit:
Today's actions also further highlight the need for major cuts in executive compensation at McClatchy's corporate headquarters. Simply declining undeserved bonuses or freezing bloated pay is not adequate, and is nowhere near the sacrifices rank-and-file employees have made… More at : http://tinyurl.com/ddwf74 or” : http://www.bizlex.com/Blog-663.113117-897.113117_UPDATED_More_layoffs_could_be_on_horizon_at_HeraldLeader.html
If McClatchy wants to survive, it must realize that its employees are not adversaries, but partners. Its employees are not cogs in a machine that can be discarded on a whim, but people with families who have hopes and dreams. McClatchy's refusal to discuss reasonable alternatives with its workers is the ultimate sign of disrespect.
I am very proud to be from the Lex H-L right now! Thanks for the link Archer.
10 comments:
Question. I saw the volume but the stock did not go down. Why. I wish understood this better can somebody help?
Because there were enough suckers -- I mean, "willing buyers" -- to keep the price up.
The market cap this morning was 59.45 it closed at 58.62. So didn't they really lose?
Pruitt says, “We'll experiment with paid content online, but you lose...” Good luck with that.
----------------------
Pruitt: "We'll experiment with paid content online, but..."
..most experiments show that you lose more online revenue than you gain per subscriber."
http://www.poynter.org/column.asp?id=45
“Pruitt likes to refer to McClatchy as a "hybrid" company.”
Inbred company is more like it.
Several large institutional investors adjusted their portfolios. Most sold positions in McClatchy but one global outfit bought shares in just about every death watch company on the exchange.
http://www.reuters.com/article/marketsNews/idINN0646639220090206?rpc=44
Yikes....
Go get 'em, Tiger, I couldn’t agree more.
***
Lexington Guild responds to pension freeze
February 5, 2009
Brandon Ortiz, area vice president, Lexington Newspaper Guild unit:
Today's actions also further highlight the need for major cuts in executive compensation at McClatchy's corporate headquarters. Simply declining undeserved bonuses or freezing bloated pay is not adequate, and is nowhere near the sacrifices rank-and-file employees have made…
More at : http://tinyurl.com/ddwf74
or”
:
http://www.bizlex.com/Blog-663.113117-897.113117_UPDATED_More_layoffs_could_be_on_horizon_at_HeraldLeader.html
I think this was my favorite part:
If McClatchy wants to survive, it must realize that its employees are not adversaries, but partners. Its employees are not cogs in a machine that can be discarded on a whim, but people with families who have hopes and dreams. McClatchy's refusal to discuss reasonable alternatives with its workers is the ultimate sign of disrespect.
I am very proud to be from the Lex H-L right now! Thanks for the link Archer.
I posted this on another thread, too:
The Lexington Guild broke the story of McClatchy finally selling their corporate jet last year.
Post a Comment