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Lee Enterprises is "burning the furniture" to survive

Discussion in 'Journalism topics only' started by LongTimeListener, Nov 12, 2013.

  1. LongTimeListener

    LongTimeListener Well-Known Member

    And this analyst sees no hope. Stock is at $3.28 now, but according to this group it is worth $2.85 at the most and is "likely ultimately worthless."

    http://jimromenesko.com/2013/11/12/analysts-lee-enterprises-is-doomed/
     
  2. Baron Scicluna

    Baron Scicluna Well-Known Member

    Yeah, but the CEO will get another bonus for saving on the trash costs.
     
  3. I Should Coco

    I Should Coco Well-Known Member

    Pretty damning analysis there, but — unlike her giant bonus — Mary Junck has certainly earned it.

    The stats:

     
  4. steveu

    steveu Well-Known Member

    You can definitely notice it. The Post-Dispatch is my favorite paper by far (unmatched Cardinals coverage), but it's been placed on a heavy newsprint diet in the last five years.

    I hope someone comes to the rescue of these papers. I don't think it'd be Buffett in the case of the P-D but you never know.
     
  5. micropolitan guy

    micropolitan guy Well-Known Member

    I sold all my remaining stock today. Took a bath from what it was worth at its zeneth, but over the 25-plus years I participated in the EOPS it was a very good investment. Helped me save to buy a house, re-roof said house, and to buy an automobile. I thought the Shermers were pretty good stewards of the company and they had an excellent business model before they went aquisition-crazy. Mary Junk can rot in HE double hockey sticks but as usual in these types of collapses upper management will make out like bandits.
     
  6. Bradley Guire

    Bradley Guire Well-Known Member

    Glad I never bought employee stock the years I was there. Straight drop. $45 when I started in '04, less than a dollar when I left nearly eight years later.
     
  7. Mark2010

    Mark2010 Active Member

    I never bought stock when I was an employee, either. McDonald's got all the left over pocket change. I probably came out ahead on that deal. At least when I had to eat it, it tasted pretty good. :)
     
  8. LongTimeListener

    LongTimeListener Well-Known Member

    Mary Junck has balls, you can say that for her:

    http://jimromenesko.com/2013/12/03/lee-enterprises-hands-out-executive-bonuses-after-reporting-big-revenue-decline/

    On November 27 — Thanksgiving Eve — Lee execs were treated to stock bonuses. Here’s what they got:

    Chief executive officer Mary Junck — 200,000 shares
    Chief financial officer Carl Schmidt — 50,000 shares
    Chief operating officer Kevin Mowbray — 50,000 shares
    Vice president of sales and marketing Michael R. Gulledge — 22,000 shares
    Vice president of interactive Gregory Schermer — 16,000 shares
    Vice president of publishing Greg Veon — 10,000 shares
     
  9. Baron Scicluna

    Baron Scicluna Well-Known Member

    But, but, if you don't give them the bonuses, they'll leave!!!
     
  10. Mark2010

    Mark2010 Active Member

    What's the old adage about stock: Buy low, sell high?

    At those prices, I could actually afford to purchase a few shares. Wonder if there's any hope it might bounce back within a few years?
     
  11. dirtybird

    dirtybird Active Member

    Burn more furniture, bump it up, sell, wait to give yourself more bonuses.
     
  12. Bradley Guire

    Bradley Guire Well-Known Member

    You should have went in when it was 5 cents a share a few years back. You would have made a fortune selling at what it is now.
     
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