An occasional peek at what you've been chattering about over the past 24 hours. Latest: Gannett's falling stock price, which touched new lows yesterday, and an incommunicado CEO.Question from Anonymous@1:31 p.m.: "At what price point would GCI be considered a buy?"
Answer from Anonymous at 3:24 p.m.: Be patient, and you could buy the whole company. "Wait another month, and it will be much cheaper after they report how miserable were third-quarter revenues. Earnings per share are already negative 7%. As the recession bites, that negative figure is going to go way up, and the stock price will collapse even more. So if I were interested in buying GCI, I would wait until it is much cheaper, then break it apart into individual newspapers and sell off the pieces. That's not hype. The (CEO) Craig Dubow regime seems determined to drive the stock down to the point where it will be so cheap someone is going to want the company."
Plus, regarding Dubow's (lack of) communications with employees, Anonymous@4:58 p.m. said: "The only letters he seems to be sending these days are on pink paper slip. He's too busy with these to talk to the rest who are still employed (at the moment)."
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As part of my preparation for next wave of LAY-OFFS I've built my own "SEVERANCE PACKAGE", I've been buying Out of the Money PUT OPTIONS.
ReplyDeleteThe confluence of Global Credit Contraction, the natural migration of advertisers and readers to the internet, and a smattering of short-sighted authoritarian management policies that destroy the company's most valuable asset - it's employees morale and sense of having a common goal has made for a Perfect Storm of Investment Opportunity.
Made more than 1 year's pay. Still might lose my house, but at least I'll have money for Campbell Soup and a Coleman stove for my tent.
By the way, I'm not an officer, executive, or member of the board of directors. Just a grunt that that Production VP from the mid-west would probably look down on as much as he looks down on carriers.
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