Readers” Alert: I’ve checked and rechecked the following McClatchy Company stock data drawn from MarketWatch.com.
However, if any data reported here don't agree with what's at MarkeWatch.com, the fault is mine.
Data are presented for their associative interest. No suggestion of a causal relationship is made in this post.
John
__________________________________________________
Using MarketWatch.com's Historical Quotes tool produced the following stock price and volume data for the McClatchy Company (symbol MNI), parent company of the Raleigh News & Observer:
On 3/24/06 – the day the N & O “broke” the Duke lacrosse story which turned out to be a hoax followed by a frame-up attempt and a still very active cover-up of the frame attempt – MNI closed at 48.10 on volume of 412,500.
On 3/29/06 – the day the N&O first reported then Durham DA Mike Nifong’s public slanders of the Duke lacrosse team along with its own trashing “priors story” on its front page - MNI closed at 49.32 on volume of 425,900.
On 4/12/07 – the day following NC attorney general Roy Cooper’s announcement the three young men indicted in the frame-up attempt led by Nifong and enabled by many at Duke and in “rights groups” and “progressive political organizations” were innocent - MNI closed at 31.57 on volume of 616,700.
Today, 7/7/08, MNI closed at 5.47 on volume of 1,167,544.
Monday, July 07, 2008
N&O’s McClatchy stock: then and now
Posted by JWM at 10:18 PM
Subscribe to:
Post Comments (Atom)
6 comments:
Take all the fundamentally dishonest things the mainstream press does on its business side, padding circulation, (think about how many times you find 2 or 3 of the same ad flyers in your Sunday paper), using the emininent domain process to acquire real property etc. Then think about how likely it is that a newspaper will print news about something negative happening at, oh say, the local mall, Stores there advertise. If they are dishonest in business it's hard for me to imagine their news reporting is any different. My local paper ran a story about the recent lunar eclipse that was full of factual errors. This was stuff that was easy to check and didn't involve differences of opinion. No wonder the paper media is in trouble, and much of the problem is the result of incompetence. Toss in some bias and it's no wonder their capital value is in the tank.
McClatchy Watch:
*Great news!- McClatchy killing fewer trees*
The Sacramento Bee is getting skinny. Here's the tally on today's paper:
Section "A" is 12 pages
Metro section is 8 pages
Sports section 6 pages
Business section 4 pages
Scene section 8 pages
-------
Our former Mizz Sill-y (As her new readers call her) has less to edit these days! Perhaps she is enjoying that California sun.
As of 3/31 Ariel Investments LLC owned approximately 18% of the outstanding shares. According to the Ariel semi-annual report their $217,503,439 investment had lost $164,406,829. If they still hold the shares they have lost another $25,000,000.
Those loses do not include the Ariel Appreciation Fund (no kidding). That MNI investment lost the fund $74,516,735 as of 3/31. If they still own those shares they have lost another $11,000,000 or so.
It appears there are only 82 million shares of MNI outstanding and yet over 14 million are short.
What in the world are these people thinking? They're out of Chicago, anyone familiar with the leadership?
Ariel Investments Board of Trustees
If the information is correct at: http://www.gurufocus.com/StockBuy.php?symbol=mni-
The McClatchy brass decided on the same day to dump some of their stock, that day being 9-3-07.
The largest dumper was Board Director, Anthony P. Ridder. I rough-added 105,576 shares he sold in 2007. He is the former CEO of Knight Ridder, an American media company.
The McClatchy purchase of KR is considered by some as a huge mistake, in retrospect. It signaled the beginning of the debt overload, and many McClatchy employees are bitter about the purchase.
Those buying and selling McClatchy stock are; Charles Brandes, George Soros, John Rogers, and Michael Price. These men are fund managers that in general look for companies whose share prices are undervalued.
I wonder what the dump of company stock by insiders does to the value?
McClatchy Watch:
More bad news for McClatchy:
McClatchy sells its stake in ShopLocal.com at a loss
McClatchy's stake in ShopLocal was valued at $11.13 million--sold to Gannett for $7.875 million.
This sale makes sense if McClatchy decided ShopLocal would not be a profit center.
But if the sale was a desperation move in response to McClatchy's crushing debt, that is a VERY BAD SIGN!
13 years later, the Daniels family looks realllllly smart
Post a Comment