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Want to own a newspaper chain? JRC stock at one penny

Discussion in 'Journalism topics only' started by EStreetJoe, Aug 1, 2008.

  1. EStreetJoe

    EStreetJoe Well-Known Member

    Claim your hundreds of shares while you can....


  2. Birdscribe

    Birdscribe Active Member

    That is classic. Own a newspaper chain for less than the average home price in Greater LA.

    Let me back up that second mortgage, folks. I'm going to be your new boss at JRC.
  3. EStreetJoe

    EStreetJoe Well-Known Member

    Sure buy the chain for $590,000 to take on $650 million in debt. Makes sense to me.
  4. slappy4428

    slappy4428 Active Member

    Deregister the stock? Does that mean anyone who owns it is fucked?
  5. Birdscribe

    Birdscribe Active Member

    The blue font process escapes me.
  6. Mystery_Meat

    Mystery_Meat Guest

    Their owning it means they're fucked.
  7. slappy4428

    slappy4428 Active Member

    True, but if delisting it means they get nothing then that's as bad as bankruptcy.
    If I have 1,000 shares and I bought at 10 (I don't own any) and they delist and the last is wiped clean, it's like bankruptcy without the fiduciary responsibility. Of course, with this crew, it's par for the course.
  8. StraightEdge

    StraightEdge Guest

    Seemed like a good idea to us, too. </bobjelenic>
  9. Starman

    Starman Well-Known Member

    The people who bought it at $20 are fucked, that's for sure. If I were Jelenic, I'm not sure dying of cancer would be my biggest worry.
  10. EStreetJoe

    EStreetJoe Well-Known Member

    How much longer can JRC operate like that before it needs to close/sell some newspapers to raise capital?
  11. slappy4428

    slappy4428 Active Member

    Shit... all they have to do is hope the stock climbs to a dime and -- boom -- there's another 5.8 million...
  12. EStreetJoe

    EStreetJoe Well-Known Member

    But if their delisting request is granted it won't climb at all.
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