1. Welcome to SportsJournalists.com, a friendly forum for discussing all things sports and journalism.

    Your voice is missing! You will need to register for a free account to get access to the following site features:
    • Reply to discussions and create your own threads.
    • Access to private conversations with other members.
    • Fewer ads.

    We hope to see you as a part of our community soon!

Gannett Stock Price Smashed In Wake Of Trashed Earnings

Discussion in 'Journalism topics only' started by Ben_Hecht, Jul 16, 2008.

  1. clutchcargo

    clutchcargo Active Member

    What gets me about playing with all these numbers like net profits, falling stock prices, etc. is that when you read the article, it's clear that Gannett is still NETTING hundreds of millions of dollars of PROFIT. OK, so that net figure is such and such % down from the year before, but hey, it IS profit. If Albert Pujols hits 50 HR's this year and 40 the next, do we ship him to the minors because his HR total dropped 20%!!??

    OK, so the Gannett stock price has dropped. Big deal---isn't the whole purpose of buying stocks, equities, bonds, etc. is that over a LONG period of time and through all the fluctuations you should turn a profit in 10-20-30 years? The way I see it, the only stockholders who should be upset are those who bought it in the last year or two and were looking to turn it quick, the ones who bought at the higher price of a year or two ago. Which is STUPID strategy when it comes to print media, where 5-8% growth is considered good. If some idiot bought a serious load of Gannett stock in 2006 or 2007 and is knee-jerk panicking because of this latest drop, then, well, now who's the dummy here?
     
  2. DanOregon

    DanOregon Well-Known Member

    Aloha means good bye to 3 and a half newsers. Anybody know what the status is of their union deal? Did they settle?

    The Honolulu Advertiser said it will reduce its payroll by 54 positions, joining the list of newspapers nationwide that have been forced to cut jobs in wake of the weakening economy.
    The reductions were announced to the Advertiser staff by Publisher Lee Webber.
    "We do not take this action lightly," said Webber. "But we are not immune to the national trends affecting the newspaper industry, nor from the downturn in our local economy."
    Webber, in an e-mail to employees, said the company needed to tighten its belt to survive tough times and bring operating costs in line with current conditions. The newspaper remains committed to producing a quality product, he said.
    "As the economy improves, we will grow with it," the e-mail read. The cuts include three full-time and one part-time newsroom staffers.
     
  3. ScribePharisee

    ScribePharisee New Member

    But you must realize - this is the same brain matter that prompted a belated reaction this week to the pain of the country at the pump and immediately dropped the price of oil.
     
  4. Ben_Hecht

    Ben_Hecht Active Member


    The stock's disintigrating because the average modern newspaper is a wasting asset.
    The only way they have left to even try to maintain margins is to frag the troops and cut page counts to the bone.

    Up in 01-20-30 years, adjusted for inflation?

    Zero chance . . . not in the form in which we know newspapers, today.
     
Draft saved Draft deleted

Share This Page