tag:blogger.com,1999:blog-4726844761468242273.post2591935174049507028..comments2023-10-07T05:29:20.923-07:00Comments on McClatchy Watch: Could McClatchy get kicked off the New York Stock Exchange?... a new rule makes it easier for McClatchy to stayUnknownnoreply@blogger.comBlogger8125tag:blogger.com,1999:blog-4726844761468242273.post-41734289953157030752008-11-20T12:05:00.000-08:002008-11-20T12:05:00.000-08:00USA Today is owned by Gannett. Their 07 revenues ...USA Today is owned by Gannett. Their 07 revenues declined from 06. 08 revenues will be down from 07.<BR/><BR/>See the numbers here.<BR/><BR/>http://au.finance.yahoo.com/q/is?s=GCI&annual<BR/><BR/>Walter AbbottAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-14961535233859601402008-11-20T10:08:00.000-08:002008-11-20T10:08:00.000-08:00IIRC, no major newspaper company has had a revenue...IIRC, no major newspaper company has had a revenue increase (compared to the prior year) at all for the past 2 to 3 years. If they did, it was just a blip.<BR/>=========================<BR/><BR/>Total BS. The WSJ and USA Today have been doing great thank you.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-69338648305730085902008-11-20T07:36:00.000-08:002008-11-20T07:36:00.000-08:00..7:21, Because Mr. Pruitt reflects the beliefs an.....7:21, Because Mr. Pruitt reflects the beliefs and values of the board. Besides, there is nothing to be done for it. It is unfixable. Forget about the big picture, you are not a player and the players aren't going to save the company. Nothing will save McClatchy, or almost any other newspaper company, from bankrupcy and closure. Look to your own interests. McClatchy is as good as gone. You know this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-23074948966161822202008-11-20T07:21:00.000-08:002008-11-20T07:21:00.000-08:00It is not just the stock price, but the market cap...It is not just the stock price, but the market capitalization. MNI today trades about $1.50 with a market capitalization of $122 million. If the price drops a third, capitalization will drop a third, too. So if it goes under $1, it will be at the $75 million capitalization level as well. <BR/>There is one way out, and that is a reverse split, giving one share for every 10 that stockholders currently hold. Stockholders don't like this because it devalues the shares they hold, but it would result in increasing MNI's price over the $1 threshhold. But it does nothing for capitalization.<BR/>I think Pruitt has screwed this up so much we are in the doghouse. The stock market reflects what some very smart people think of MNI's future. My issue now is why the board of directors don't see this and do something, and do it now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-74700680269569804172008-11-20T07:02:00.000-08:002008-11-20T07:02:00.000-08:00To 6:09IIRC, no major newspaper company has had a ...To 6:09<BR/><BR/>IIRC, no major newspaper company has had a revenue increase (compared to the prior year) at all for the past 2 to 3 years. If they did, it was just a blip.<BR/><BR/>Walter AbbottAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-53012757863133160412008-11-20T06:09:00.000-08:002008-11-20T06:09:00.000-08:00I was looking back at monthly revenue numbers for ...I was looking back at monthly revenue numbers for mcclatchy at http://www.mcclatchy.com/176/index.html. I didn't see a single month since the KR acquisition that didn't have declines. Has MNI had an up month and I missed it? If I'm right, that's almost two years of consecutive monthly declines.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-12810175631120932522008-11-20T03:42:00.000-08:002008-11-20T03:42:00.000-08:00It is a double edged sword. Without the halt bad c...It is a double edged sword. Without the halt bad companies have nothing to prop them up and market forces can determine who survives and who goes by the way side. <BR/><BR/>Right now there are two full pages of companies that should have gone under that have been staying alive by having their trading halted every time they take a dip. <BR/><BR/>Give it time. You will see that the companies that do not deserve to be listed will disappear along with their bad management.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-85431792104932472802008-11-20T03:40:00.000-08:002008-11-20T03:40:00.000-08:00Listing on the NYSE is way down on their list of w...Listing on the NYSE is way down on their list of worries. They're about to go cash flow negative. Once that happens, they'll begin to sell off individual newspapers to keep the lights on and the phones working.<BR/><BR/>If they can find any buyers...<BR/><BR/>Walter AbbottAnonymousnoreply@blogger.com