JRC hires Lazard Freres to 'review options'

Stock has fallen 92% in a year. Now I remember why I stuff newsprint in my ears whenever newspapers talk business.

NEW YORK (Thomson Financial) - Journal Register Co. Monday said it hired Lazard Freres & Co. as its financial adviser as it evaluates strategic options.

Shares of the Yardley, Pa.-based media company closed Friday at 52 cents. The stock is down about 92% over the past 52 weeks.

 

Nice job by Thomson getting out of the newspaper biz in time so it could deliver news reports on the demise of newspapers.

 

And in the wake of that announcement, JRC stock has dropped to 30 cents a share --- 22-cent drop (-42.31%) since Friday's close.

And two cents dropped since I started typing this post.

 

NYT had it Saturday and so did we:

http://www.sportsjournalists.com/forum/threads/54201/

 

24 cents a share as we speak.

All-time low, obviously.

This thing might be done by midweek.

 

When it hits .01, I am so buying 10 bucks worth to see what will happen...

 

At the current rate, that will happen before 4 p.m.

 

Fixed.

 

Closes at $0.22.

It's really true, Bob: You can't take it with you.

Especially not where you're headed.

 

I'll bet its been a long, long time since anybody at Lazard Freres was working for a client selling at 22 cents a share.

 

I cannot think of a company that deserves this fate more than JRC.