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.
Monday, July 6, 2009
McClatchy stock drops to less than 50 cents a share
As of 1:25 PM, McClatchy (MNI) shares were trading at 47.5 cents a share, down 12 percent in Monday's trading. By contrast, the Dow is up about one percent today.
Belt-tightening continues and will get worse before the year's end. You can't operate at a profit with so much infrastructure cost - buildings, presses, maintenance, etc. The digital age is the answer to eliminating much of the writing/editing staffs. If you're still working at one of these sweat shops, you have nobody to blame but yourself when the bottom falls out.
Once again, "Listen Only" conference call. This of course means the news is not good news.
SACRAMENTO, Calif., July 6 /PRNewswire-FirstCall/ -- The McClatchy Company (NYSE: MNI) announced today that its second quarter 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 Tuesday, July 21, 2009 at 11:00 a.m. Eastern, 8:00 a.m. Pacific time. McClatchy's earnings announcement will be released to newswire services before the market opens on July 21. The full text of the announcement and the financial tables also will be available on McClatchy's website.
Nobody in their right mind would think the news is going to be positive. Dropping entire sections to shrink staff numbers is how they'll go. Those in feature sections will be most vulnerable, followed by business and any special sections that still print, IMHO. Middle managers will get the boot too.
Nobody in their right mind would think the news is going to be positive.
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You're correct of course, but don't forget the fanboy that was in here pumping the stock the other day.
There really are idiots by the dozens working for companies like McClatchy now. Their entire educational background is in the Arts and Affirmative Action. They haven't the slightest clue about the realities in business and economics.
The "arts" crowd is about to get an education in economics 101. And in real life in general. I'm surprised McClatchy still employs art critics and lively art airheads. Nobody reads that crap anyway.
1:20 is right about arts getting zero readership. Check the online hits list each day that editor's study. It's one of the lowest readership topics, which is why papers have been unloading critics or reassigning them to news beats.
I must disagree. I have done a study and the results are stunning. My daughter's puppy spends 23% more time on the paper when he's pissing on Arts & Entertainment, and 27% more when he can drop a dookie on INK.
Once he learns to click on comments, boy are you guys going to feel silly.
This 3:47 moron adds zilch to this site and should be permanently banned. At least he/she could respond with valid information or a shred of insight instead of infantile babblings and inane statements.
I disagree with a lot of what is expressed on this blg but I agree wholeheartedly about the uselessness of arts coverage. It appeals to an elitist few and is one of the sacred cows that has taken longest to be led to the slaughterhouse.
Let's do hard news with our limited resources already!
I disagree with a lot of what is expressed on this blg but I agree wholeheartedly about the uselessness of arts coverage.
Good luck with that. You're talking about the life blood of the Affirmative Action/Homosexual Lobby that has infested every nook and cranny of the media today. You can't spend more than an hour in a newsroom anymore without having to fight the urge to talk with a lisp.
5:30 clearly an ethnomethodologist. My congratulations to you sir for elevating the dialog and scholarship of MW. As an addendum, can you laugh with a lisp?
I got a good laugh from 3:47, which was intended, I am sure. The trolls that have infested this site of late are so lame, even an amusing post is vilified. Geeez!
3:47’s analysis makes a good deal more sense than most of the drivel published by McClatchy newspapers. Note how the liberals can’t stand humor, they are really a sad lot.
22 comments:
Belt-tightening continues and will get worse before the year's end. You can't operate at a profit with so much infrastructure cost - buildings, presses, maintenance, etc. The digital age is the answer to eliminating much of the writing/editing staffs. If you're still working at one of these sweat shops, you have nobody to blame but yourself when the bottom falls out.
Once again, "Listen Only" conference call. This of course means the news is not good news.
SACRAMENTO, Calif., July 6 /PRNewswire-FirstCall/ -- The McClatchy Company (NYSE: MNI) announced today that its second quarter 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 Tuesday, July 21, 2009 at 11:00 a.m. Eastern, 8:00 a.m. Pacific time. McClatchy's earnings announcement will be released to newswire services before the market opens on July 21. The full text of the announcement and the financial tables also will be available on McClatchy's website.
Nobody in their right mind would think the news is going to be positive. Dropping entire sections to shrink staff numbers is how they'll go. Those in feature sections will be most vulnerable, followed by business and any special sections that still print, IMHO. Middle managers will get the boot too.
There won't be any new changes other than the words "hybrid" "smaller" "cost cuts" thrown around. No new ideas from gary on how prevent total failure.
Nobody in their right mind would think the news is going to be positive.
------
You're correct of course, but don't forget the fanboy that was in here pumping the stock the other day.
There really are idiots by the dozens working for companies like McClatchy now. Their entire educational background is in the Arts and Affirmative Action. They haven't the slightest clue about the realities in business and economics.
The "arts" crowd is about to get an education in economics 101. And in real life in general. I'm surprised McClatchy still employs art critics and lively art airheads. Nobody reads that crap anyway.
///I'm surprised McClatchy still employs art critics and lively art airheads. Nobody reads that crap anyway.///
Hell, no. We're real he-men. We only are interested in guns, girls, and God. And Rush, of course. Only sissies and elitists enjoy art.
1:20 is right about arts getting zero readership. Check the online hits list each day that editor's study. It's one of the lowest readership topics, which is why papers have been unloading critics or reassigning them to news beats.
I must disagree. I have done a study and the results are stunning. My daughter's puppy spends 23% more time on the paper when he's pissing on Arts & Entertainment, and 27% more when he can drop a dookie on INK.
Once he learns to click on comments, boy are you guys going to feel silly.
This 3:47 moron adds zilch to this site and should be permanently banned. At least he/she could respond with valid information or a shred of insight instead of infantile babblings and inane statements.
4:03 PM writer for Ink. ;-P
Trolls have a way of ruining sites if they're not promptly put to death.
Yet you're still here.
I disagree with a lot of what is expressed on this blg but I agree wholeheartedly about the uselessness of arts coverage. It appeals to an elitist few and is one of the sacred cows that has taken longest to be led to the slaughterhouse.
Let's do hard news with our limited resources already!
I disagree with a lot of what is expressed on this blg but I agree wholeheartedly about the uselessness of arts coverage.
Good luck with that. You're talking about the life blood of the Affirmative Action/Homosexual Lobby that has infested every nook and cranny of the media today. You can't spend more than an hour in a newsroom anymore without having to fight the urge to talk with a lisp.
It’s time to breakout the 25Ȼ firewall again.
I'm with 3:47. Good analysis. Just the kind of original research America needs.
Good analysis.
I have to admit, it shows the same basis in fact that I read from any other McClatchy published, "A Study."
Good one.
5:30 clearly an ethnomethodologist. My congratulations to you sir for elevating the dialog and scholarship of MW. As an addendum, can you laugh with a lisp?
I got a good laugh from 3:47, which was intended, I am sure. The trolls that have infested this site of late are so lame, even an amusing post is vilified. Geeez!
7:25 PM That is because they're dropping bombs to close to the hacienda!
6:08 That is against protocol unless one adds, "thilly boy" after three Te He He's in your finest falsetto.
It's amazing the tricks of the trade you can pick up on the metro desk these days.
3:47’s analysis makes a good deal more sense than most of the drivel published by McClatchy newspapers. Note how the liberals can’t stand humor, they are really a sad lot.
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