The rankings had shifted dramatically just a week ago, when Gannett fell two rungs. Today, a reader noted that GCI is back at No. 2 -- suggesting CEO Craig Dubow had been vindicated. "Love it when the strategic plan works,'' the reader said in a comment on that post.
Ah, yes: the strategic plan. So transformative! Based on Google Finance data, here's the performance of Gannett stock vs. other major publishers, since July 15, 2005 -- the day Dubow became CEO:
Love it when McClatchy and Lee Enterprises make Dubow look good!Confidential to Corporate: Ease up on the daily Kool-Aid deliveries; some of the managers in the Dark Tower are starting to O.D.
The strategic plan works? This based on a one-day pop in a stock that was pulled higher only because the entire frickin' market had its biggest one-day gain since 2002? Poor, sweet, innocent naif.
ReplyDeleteA prediction: The long-term trend of this barking dog of a stock will continue as long as the current management is in place. Heed the old Wall Street maxim: The trend is your friend. If only that were so for Gannett employees.
In spite of management, in spite of the lost Classified business, in spite of the drain from online, and in spite of morale, I'd be a buyer in this market. You always try to buy on the "dips." The pieces are worth more than the whole. Hang on Sloopy.
ReplyDeleteJust wondering. What is the market cap of Knight-Ridder, Dow Jones and Tribune? Journal Register? Big issue here is newspaper stocks in general.
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