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Thursday, March 05, 2009

NO MERCY FOR MSM NEWSPAPERS - GANNETT, NEW YORK TIMES, WASHINGTON POST

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.
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2 comments:

  1. AnonymousMarch 5, 2009 at 9:21 PM

    Last time I checked, balance sheets were not plagued by revenue related accounting entries. That is for the income statement.

    ReplyDelete
  2. AnonymousMarch 6, 2009 at 5:01 AM

    Let them tank. I have no more money to give them. They made their bed, and it's burning down.

    ReplyDelete

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