"Does anyone know
anything on papers in Mississippi?"
-- Anonymous@9:57 a.m. on Sunday, in a comment reflecting the desperation I described today among employees seeking details about the mass layoff now underway in the newspaper division.
Tuesday, November 18, 2008
Things we say when we're scared and desperate
-- Anonymous@9:57 a.m. on Sunday, in a comment reflecting the desperation I described today among employees seeking details about the mass layoff now underway in the newspaper division.
5 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."
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I feel sorry for Jim, I really do, because we only see what people post. I am sure he also hears all kinds of stuff by email, and it really must be hard to be hearing all this stuff, and knowing how bad it's going to be, and not be able to change it. Please know that we appreciate what you've done here, even if sometimes it deteriorates into BJ and fart jokes or utter nastiness, because without you, in about 15 days we'd all be getting sucker punched. At least we can share information and sympathy as the band cues up for
ReplyDeleteNearer My God to Thee.
Thank you. What's saddest of all: These layoffs will no doubt continue in waves, quarter after quarter, well into next year.
ReplyDeleteI've been a journalist all my adult life. If I get dumped, I will hit up my 401K, and transfer the money into my margin account at an online trading company.
ReplyDeleteI will use the funds to short Gannett's stock, to the fullest extent that I can financially.
If the company is that determined to go down in flames, no reason why I should not profit from it, if I'm not working there.
Fact of the matter is, I wonder how many others laid off in previous waves have beaten me to that strategy, and if that isn't already a significant reason why there's such a drag on the stock.
8:38 Be Careful SHORTING GANNETT at this level. I did exactly that in mid August when the price was $18.50. I bought $12.50 Puts. I made 429.17% in 11 weeks, BUT at this level you could get killed in a Violent Bear Market Rally.
ReplyDeleteNOTE: I am not showing off by stating my return (maybe a little). I am doing this to survive. I don't know if I can sell my house and I'm probably going to lose my job here.
Unless you are experienced, I would reccomend you research BEAR MUTUAL FUNDS & EXCHANGE TRADED FUNDS for a portion of your investments. Also consider the TAX & PENALTY HIT from a 401k withdrawl.
As I have said before, this is a Trechourous Period like the 1930s -ONLY WORSE- so be careful and learn as much as you can about Money, Investments, Hyperinflation, supplimenting your food with a home garden, etc.
Hattiesburg is crying out for community columnists.
ReplyDelete