Updated at 4:45 p.m. ET: Shares closed at a new low, $23.67 -- down more than 3%.
Earlier: As I leave Paris and return to the Mediterranean island of Ibiza, I see that GCI shares have traded as low as $23.72 today on heavy volume, breaching yesterday's lows on news of May's puny revenue report.
Thursday, June 19, 2008
7 comments:
Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
Note: Only a member of this blog may post a comment.
Subscribe to:
Post Comments (Atom)
Stock continues to dive downward (stock at $23.72 at this writing) as sales of ads plummet while Gannett has the gaul to increase ad rates effective this past May. Circulation is dropping like a rock giving print advertisers less and less reach yet Gannett keeps preaching this "value" baloney to try to justify what they are charging for ads. And, advertisers are seeing less and less response for the dollars they spend. As for our online, the new design stinks and ads on the sites just don't work...period! Advertisers who are strong armed to buy on our internet sites with all kinds of combo programs say they don't see ANY response. Now we are approaching the traditional summer slowdown along with increases in energy costs, fewer people shopping and retail businesses starved for cash. Our outside sales people are being directed to up their activity yet they are also expected to subsidize Gannett by receiving a mere 25 cents/mile to operate their own cars while gas is selling today for $4 per gallon. Hey Gannett! just keep up the perks for the big shots and empty suits in Virginia and further demoralize the real working people out here! $20/share is right around the corner and so are futher Gannett expense cuts (except at HQ, of course).
ReplyDeleteThe end is near for many. This fall has been in the making for years, weak management implanted at sites all over the country. Many (like the ones in Westchester) came from USA Today with the KNOW IT ALL attitude and abusive management tactics. Soon there will be no one left to abuse, have fun fighting each other for the golden parachutes.
ReplyDeleteTime to shoot this pig and sell the parts. It's not working for anybody: Customers, employees, shareholders, not even for the execs whose stock options are as underwater as Iowa corn.
ReplyDeleteA fun read for those who like to see the corporate butt pucker:
ReplyDeletehttp://ricksegal.typepad.com/pmv/2006/07/how_to_make_a_c.html
My $84 stock options just get better and better.
ReplyDeleteI'm wondering when the next round of layoffs will start. $22 and falling.. falling... falling...
ReplyDeleteAfter years of hearing from managment that "We have stockholders " to answer to.
ReplyDeleteWhen are the StockHolders going to STAND up and say ENOUGH is ENOUGH.