Ray Quintanilla, left
Posted on 08/18/2008 11:03:02 AM PDT by abb
Anyone who uses the pretentious term “of color” to describe himself or herself should be fired forthwith, anyway. ;)
Has anyone else noticed that most of the pixels on a typical Free Republic web page are WHITE?! Coincidence?!?!
So, were these “journalists of color” purple or green?
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/15/AR2008081503100.html
Obama’s Edge in the Coverage Race
http://www.northjersey.com/opinion/moreviews/26494274.html?page=all
Scandale: Assessing readers’ comments about bias
http://www.sltrib.com/news/ci_10222572?source=rss
Reader Advocate: We’re not in the business of printing rumors
http://gannettblog.blogspot.com/
Gannett starts issuing pink slips: 600 jobs at stake; employees tally historic losses; blog updates all day
Get with the program.
“Colored man,” which, as I recall, was the polite term for blacks back in the 40s and 50s, is now condemned as the worst sort of sexist and racist hate speech.
“Person of color,” however, is politically correct. At least it is until the Language Police decide, at some time in the future, to condemn it and come up with still newer terminology. That will happen, predictably, as soon as enough Republicans start using it.
For searches of color: http://www.blackle.com/
Incredible. The liberal managed mutual funds must be keeping the fishwraps afloat.
Morningstar: Battered Newspaper Shares Still The ‘Market’s Most Overvalued Stocks’
By Mark Fitzgerald
Published: August 18, 2008 11:28 AM ET
CHICAGO Shares of nearly all publicly traded newspaper companies have lost as much as 80% of their value in the last year — but they haven’t hit bottom yet, says a blistering report on the sector released Monday by Morningstar.
The Chicago-based independent research firm calls newspapers “the market’s most overvalued stocks.”
“Such sharp price declines (including a 52% drop for Gannett, an 82% dive for McClatchy, and a 94% loss for rural/suburban publisher GateHouse), coupled with what may be perceived as currently cheap valuation ratios, could be tempting to value-minded investors, but we say, ‘Look out below!,’” says the report by Matthew Coffina, with contributions from analyst Tom Corbett.
“We think the stocks have further room to fall, as declining revenues and negative operating leverage combine to create a downward spiral for this moribund industry,” Morningstar added.
Morningstar offers the usual reason for its pessimism about newspapers: high fixed costs with “steadily” shrinking revenues are squeezing profits as the Internet steals readership and ad share “at an accelerating pace.”
“We don’t anticipate these trends to reverse and consider the newspaper industry unattractive as a whole,” the report concludes.
Morningstar singles out five newspaper stocks that it says are trading at “significant premiums” to its estimates of their fair value.
Morningstar assigned Gannett a fair value of $1.61 a share. Monday morning, Gannett (NYSE: GCI) was trading at $19.99, off 66 cents, or 3.2% from the opening. Morningstar said it expects the nation’s largest newspaper company’s revenues to fall at 5% annually over the next five years, with operating income declines averaging 14% annually.
The New York Times Company was given a fair value estimate of $1.27 a share. Monday morning its stock (NYSE:NYT) was trading at $13.94, up 2 cents, or 0.14% from the open.
Lee Enterprises (NYSE: LEE) was trading early Monday at $3.56, down 11 cents, or 3.26%. Morningstar’s fair value estimate: $1.63 a share.
Morningstar said The McClatchy Co. stock has a fair value of just $1.95, but Monday its shares (NYSE: MNI) were trading at $4.26, up 7 cents, or 1.67%, from the opening.
“McClatchy doubled down its bet on the future of newspapers with the $4.6 billion acquisition of Knight Ridder in 2006,” Morningstar wrote. “The $2.5 billion in extra debt assumed in the deal only exacerbated McClatchy’s shaky financial footing. Barely a year passed before McClatchy had to write down $3 billion of the acquisition’s purchase price. Another problem in the current environment is McClatchy’s outsize exposure to California and Florida, with their floundering housing markets. We expect McClatchy to see 4.7% annual revenue declines over the next five years and only irregular profitability.”
Morningstar repeated its judgment that the GateHouse Media Inc. (NYSE: GHS) is essentially worthless, assigning it a fair value of zero. Monday morning it was trading at 69 cents, down 2 cents, or 2.82%.
Real estate (Office buildings, printing press buildings, etc) is in a downswing and the printing presses themselves are worth only scrap prices (about $0.10/lb.)
That’s all the money there really is any more.
Ray Quintanilla, left
if so, please alert the NAACP.
While correct it must be said that over 99% of the letters are pixels of color and hold more important positions than the white pixels. Some have even become numbers.
http://news.morningstar.com/articlenet/article.aspx?id=249734
The Market’s Most Overvalued Stocks
The newspaper business is in terminal decline.
http://www.laobserved.com/archive/2008/08/new_lat_publisher_speaks.php
New LAT publisher speaks
http://www.palmbeachpost.com/opinion/content/opinion/epaper/2008/08/17/a10a_schultzcol_0817.html
Cranky, wonderful readers
Milhous, do you remember when you and I had those conversations about ‘book value’ and ‘goodwill’ and how the newspapers were but a hollow gourd of value and that they would have to have huge writedowns on their balance sheets? That was almost two years ago.
Tell me why we didn’t take Grampa Dave’s advice and short those stocks back then.
Sigh...
“Of color.” What a bizarre formulation. Everyone has a color. Or isn’t white a color now?
Now that's the way it oughta be! Or perhaps "morons, those who slacked off the most, and those previously, artificially advantaged beyond anything resembling their actual usefulness, hardest hit."
We dare not leave it to corporations in any laissez-faire way to even begin to threaten Ms. heads of household, paycheck-to-paycheck ticket puncher and her hardscrabble family of four so, do we? No, mean, nasty corporations' "feet must be held to the fire" anytime their actions could possibly be characterized as racist, bigotted, discriminatory, or homophobic. That's why we want the Leftist press to hound them unmercilessly, right?
On that basis, Clinton's minions had our heart-strings twanging in 1995 via the on-camera government workers gushing about their tough situations during the "Republican Government Shutdown," until it was pointed out to a few that those workers had yet to miss single paycheck, such that there could not possibly have been any real hardship due to being out of work. Ultimately, they all got paid every cent, as if they'd simply been given extra vacation time. The government prints the money, after all.
HF
What about the colorless ones?
The workers who got sent home got paid on time, every two weeks. The only hardship was the expense of renting movies at Blockbuster Videos (hey, it was the mid-90s!).
The “essential” workers, who had to work through the furlough, did not get paid until about six weeks after the furlough ended. This was a cause of considerable resentment.
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