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.
Tuesday, April 14, 2009
McClatchy's market cap down to $31.3 million
Major shrinkage going on at McClatchy... the company's market cap has shrunk to $31.3 million as of close of business Tuesday. . . .
I have a question? I was looking at Lee Enterprises and they have a market cap of 16.7 million and the SEC wanted them to get to 25 million to stay listed from what I read. Are there different market caps for different companies?
Are there different market caps for different companies?
============= There is a temporary reduction for Market Cap triggers in effect until June I believe. That said, even the old trigger of 25 million is not something set in stone for any company. A de-listing is contingent on multiple factors and reviewed on a case by case basis. Both Lee and McClatchy will eventually be de-listed as they cannot present a sustainable plan that will satisfy minimum pricing and market cap minimums going forward.
I can't speak of Lee, but McClatchy default is as inevitable and certain as the sun will rise tomorrow. It is a matter of math. All the positive PR, management assurances, good feelings, and blind faith in the world can't change the fact that it is mathematically impossible for them to survive under the current structure.
7 comments:
bubbling under - farewell MNI!
I will miss you.
I have a question? I was looking at Lee Enterprises and they have a market cap of 16.7 million and the SEC wanted them to get to 25 million to stay listed from what I read. Are there different market caps for different companies?
I meant NYSE in the last post
Now I generally don’t like to watch the water gurgle down a flushing toilet, but with MNI I make a joyous exception
Are there different market caps for different companies?
=============
There is a temporary reduction for Market Cap triggers in effect until June I believe. That said, even the old trigger of 25 million is not something set in stone for any company. A de-listing is contingent on multiple factors and reviewed on a case by case basis. Both Lee and McClatchy will eventually be de-listed as they cannot present a sustainable plan that will satisfy minimum pricing and market cap minimums going forward.
I can't speak of Lee, but McClatchy default is as inevitable and certain as the sun will rise tomorrow. It is a matter of math. All the positive PR, management assurances, good feelings, and blind faith in the world can't change the fact that it is mathematically impossible for them to survive under the current structure.
4:52 Thanks for the information
MNI De-listing or De-lousing?
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