Good Lord - MG stock price

I DID call it that, didn't I? Old age is creepin' up on me ...

 

shaky town.

 

Gang, Citi's at 4, GM's at 3, Ford's less than 2. It ain't just newspapers. Felix Salmon, a stock market blogger whom I respect, said on NPR last night. "The market is forecasting that the effective value of a significant number of major corporations is zero."
The newspaper industry has major, major problems. Turns out we were just the canary in the coal mine in that regard.

 

i'd buy any one of the stocks you just mentioned before i'd ever consider buying a newspaper stock.

 

Tom, I'd buy NYT, or Washington Post. National brands will survive, and if the Times goes private, stockholders will make a profit on the deal.

 

michael - you have more faith than i.

 

If I had the money, I'd buy as much Times stock as I could.
Just on the chance that the Times goes private. They just cut the dividend, and that is supposedly a big indicator that they'll be making the move to private.
A person could stand to make some serious money on that, if it happens.
If not, you still have stock in a company that is a national brand and it will eventually recover and be worth more than what you paid.

 

Just got an e-mail this morning from corporate stating that beginning April 1, MG will no longer match employee 401k contributions until "the economic climate improves." Also, no profit sharing bonus anticipated at the end of the year.

I guess it's better than being laid off, but depressing nonetheless.

 

JOURNAL REGISTER CO
(Other OTC: JRCO.PK)
Last Trade: 0.004

LEE ENTERPRISES
(NYSE: LEE)
Last Trade: 0.36
52wk Range: 0.30 - 13.31

 

MG's 2007 fourth quarter: $9.6 million net income
MG's 2008 fourth quarter: $85.5 million net losses

Jeebus.

 

For the purposes of this thread, shouldn't the Mendoza Line be renamed "The Jelenic Line"?