Approaching free-fall this morning, Gannett's stock recently traded for just $3.33 a share, down 6.7%, as stocks overall nosedived on new fears about the shrinking economy. GCI's current market capitalization: $785 million.
Friday, February 27, 2009
Breaking: In early trading, GCI shares plunge 7%
Approaching free-fall this morning, Gannett's stock recently traded for just $3.33 a share, down 6.7%, as stocks overall nosedived on new fears about the shrinking economy. GCI's current market capitalization: $785 million.
25 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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Actually, I think that price is lowest in 520 weeks, not 52 weeks, isn't it?
ReplyDeleteNo, it has nothing to do with the general economy. Read the stories about Scripps' decision to close the Rocky, and you will see they made a decision that even if they had a one-newspaper town in Denver, they would not turn the Rocky around. Wow. What does that mean for the future of any newspaper in this country. Essentially, Scripps is saying there is no economic future for newspapers.
ReplyDeleteThe Scripps line is at least more honest and closer to the actual truth than Gannett's position.
ReplyDeleteWatch how fast GCI burns through that 'saved' $325M. After that, there's no safety net and it's katy bar the door.
A quick look at GCI's balance sheet revealed something interesting. Take a look at the ratios between total assets vs. debt last year to this year. Can someone point out where all our assets went?
ReplyDeleteDidn't they do a big writedown on goodwill? That would figure in assets, wouldn't it?
ReplyDelete11:23 -
ReplyDeleteCorrectamundo!
"Didn't they do a big writedown on goodwill? That would figure in assets, wouldn't it?"
ReplyDeleteNot sure. Everything I remember reading about goodwill writedowns didn't affect actual numbers.
xxx Everything I remember reading about goodwill writedowns didn't affect actual numbers.xxx
ReplyDeleteEverything you read is wrong.
2 bucks! 2 bucks! 2 bucks! 2 bucks!
ReplyDelete11:52... Have you ever contributed anything substantive to this blog? Just curious. I don't care if it's positive or negative, but your short "2 bucks" phrases add nothing to the discussion, take up space and show you have the mentality of a junior high schooler. Why bother writing anything at all if this is all you can come up with? It's not witty, original or interesting in the least. Would expect more from a blog that is heavy in journalists.
ReplyDelete12:10: I agree. Do you WANT us to go under with the chants of $2?
ReplyDeleteI, personally, would like to see a MAJOR REBOUND.
I'd rather shout $50! $50! $50!
I'm with $2, but I'm more of an optimist.
ReplyDelete1 buck! 1 buck! 1 buck!
Those of us who dumped stock are saying "Two cents, two cents, two cents!"
ReplyDeleteSeriously, get over it. The stock will do what it will do. Nothing any of our chants can do about it. Eventually, it will hit zero, just look at the ten-year map and you tell me where you see a rebound.
I think newspapers will survive, it's just the corporate ownership of newspapers that are failing now.
ReplyDeleteMany posts reflect "local" in their opinions of what went wrong... Maybe this is the grand readjustment that is needed to get newspapers back to where they belong: Individual ownership.
2 bucks! 2 bucks! 2 bucks! 2 bucks!
ReplyDeleteYou know, you probably think it is funny to hope the stock goes down and leadership fails. Ask the folks at the Rocky how they feel right now and if they wish the leadership had succeeded. If "they" fail, we are out of a job. Is that what you want? Think about it folks, if Gannett fails, WE are out of a job. When you can't pay your mortgage are you really going to have satisfaction because some leader you hate is also out of a job???? This is real life folks. It's just not funny anymore.
ReplyDeleteThere is no "if Gannett fails." This company chose the path to failure long ago.
ReplyDelete12:52 p.m., many of us at my site are thinking the same thing.
ReplyDelete1:25pm said: "Think about it folks, if Gannett fails, WE are out of a job."
ReplyDeleteAsk the folks in Tucson how they feel after giving Gannett everything. I know. I used to work there.
I'm all for doing something different than the "cut" mentality of Gannett.
It appears that the dark days of the newspaper industry has been duly chronicled.
ReplyDeleteI am not a journalist, but I do have a vested interest. So whats the answer here? Extinction, or evolution? If evolution, what would it take?
No one here should look forward to this industry going the way of the buggy whip companies.
Anxiously awaiting your opinions...
It's not even the issue of "Mr. 2 bucks" wanting to see things crash that bothers me. It's his stupidity and laziness in not building a case for himself as to why he wants that.
ReplyDeleteThis is what I hate about blog comments. The people who are so clinically insane and childish that they can't even articulate their rants beyond a couple of words they think are funny to repeat a few times a day on here.
Hey, if you want to see the demise of Gannett, fine. I don't really care. I am no fan of Gannett either. But tell us more. Tell us what your beef is, as others have the intelligence and courage to do. Don't come off sounding like some whack job with a four or five-word vocabulary. You're tarnishing the legitimate concerns of people who take the time to explain what it is they don't like about Gannett.
Of course, if that is your intent, to make us look ridiculous in our concerns about this company by having your comment lumped together with ours, then you are smarter than I thought.
Jim, is there any way of filtering out this guy? I mean what does saying "2 bucks!" over and over again add to this blog? It makes the blog look a little less credible, IMHO.
Adjusted for INFLATION $3.24 is lowest price since GANNETT went Public in 1967.
ReplyDeleteGreat work you smiling dolts....(Board & Executives - (great pictures annual report)). Phenomenal anticipatory management skills. Almost Jedi-like.
"I mean what does saying "2 bucks!" over and over again add to this blog? It makes the blog look a little less credible, IMHO."
ReplyDeleteBwah-hahahahahaha!
Forest for trees much?
(Two bucks!)
3:27 you just need to let it go. I mean, my God, why are you letting this person bother you so much. Since when is there a criteria for what is written on a blog?
ReplyDeleteNow would be an excellent time to remind people of a simple way to deal with posters they find offensive; this is from my note above the comments form:
ReplyDelete"IGNORE abusive posters; deny them the attention they crave."
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