Monday, January 12, 2009

Lee Enterprises Sinking

A reader pointed out that the value of Lee Enterprises, owner of both the St. Louis Post Dispatch and, more importantly for our purposes, the Southern Illinoisan, dropped 97% last year, going from $45 a share about 3 years ago to a whole 44 cents a share as of earlier today, and is teetering on the edge of bankruptcy. No announcements of layoffs at the Southern yet, but the PD is cutting another 39 jobs and may not be a "going concern", to quote its accountant, by the end of the year.

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Perhaps if they spent less time making the world safe for breakfast, eh?

"Don't Skip Breakfast!"
http://www.southernillinoisan.com/articles/2008/11/25/health/kid_health/doc492c67ffeee19867111097.txt

"Breakfast: Is it really the most important meal of the day?"
http://www.southernillinoisan.com/articles/2008/07/14/lifestyles/mind_and_body/25098815.txt

Still more about breakfast...
http://www.southernillinoisan.com/articles/2008/07/15/lifestyles/taste/25110345.txt

"Breakfast for dinner!"
http://www.southernillinoisan.com/articles/2008/11/25/health/kid_health/doc492c67ffeee19867111097.txt

"Whole-grain breakfast cereal"
http://www.southernillinoisan.com/articles/2007/10/25/health/health_news/doc47211791996f2986121611.txt
 
Interesting except as I read it the article has the stock at .34
per share.
The SI just keeps doing the same
things but on different subjects.
Plus you can read the highlights on line for free.
They really should have been going after the extra printing $$$ for brochures, flyers etc... I think it would have boost their bottom line significantly. Something has to pay the bills and advertisers just are not that excited about the SI anymore.
If you canvas the surrounding counties, many many of the residents do not read the
SI, it's a Carbondale paper.
I do not know if the sales in the
other communities if their was significant focus there would
make a huge difference but they really have not tried it either.
To bad I like to sit back and read the paper and count the mistakes.
It has become a ritual.
 
The stock price is what it was as of just before I wrote the post. Stock is up a whole dime since the beginning of the year.
 
I'm looking for a paper that's going to tell me more about dinner, actually.
 
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