Gannett Co., Inc. - (The Daily Times parent company) - set another record low today amid downgrades from rating agencies, S&P and Moodys.
The Main Stream media giants are suffering dramatically as diminished print sales and declining revenues continue to plague their balance sheets.
(http://community.investopedia.com/news/IA/2009/No-Mercy-For-Newspapers-GCI-NYT-WPO0305.aspx
Gannett set another record low today of $2.06/Share while the stock market was down 280 points in today's trading.
For trading details of Gannett click here: http://www.google.com/finance?q=NYSE:GCI
News that GM may file for Bankruptcy protection after auditors revealed that the enterprise may not be deemed to be a viable company tended to drag down the entire market. Also, Citicorp stock price dropped below $1.00/Share which further fueled the decline.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
Last time I checked, balance sheets were not plagued by revenue related accounting entries. That is for the income statement.
Let them tank. I have no more money to give them. They made their bed, and it's burning down.
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