The McClatchy Company said Friday that the New York Stock Exchange has determined the company's share price has returned to levels necessary to remain on the exchange.
Exchange regulators notified the newspaper company in February that its average share price over the previous 30 trading days was below the $1 per-share level necessary to continue trading on the exchange.
But in September, the Securities and Exchange Commission allowed the exchange to amend its average share price rules. Companies are now deemed compliant if they achieve a closing share price of at least $1.00 at the end of any calendar month during their cure period and the share price averages $1.00 or more over the 30-trading-day period ending on the last day of that month.
The New York Stock Exchange notified McClatchy that its month-end and average trading price for the month of August met this new requirement.
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, September 4, 2009
McClatchy gets to stay on NYSE
McClatchy announced today it was told by the NYSE that the company has met the requirements to stay listed on the Big Board.
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For the moment.
That means that all the incompetent execs like Star-Telegram publisher Gary "Hatchet Man" Wortel and editor Jim "Oops" Witt will get to keep their jobs longer before McCrappy lands in bankruptcy court. They will party hearty this weekend, for sure. But don't expect an invite to the bashes unless you're a corporate suck-up who shows contempt for the hardworking, honest and underpaid employees at the paper.
Is this example 652 where you and the other conservatives have been wrong? You have the same track record as DICK Cheney and George Bush. WMA= NYSE. Any takers on the accuracy of both?
8:21: The country is changing - just not the way you and Obama envisioned. You're going to hate it. Bwahahaha.
8:52 AM Well, if it is and they won't let us start thinning the herd of Obamamite, it isn't change I can believe in.
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