Thursday, January 10, 2013

GateHouse Media stock stays at six cents per share

Just a friendly reminder of what is wrong with chains operating so-called "community newspapers."

GateHouse Media, owner of the Carthage Press, Neosho Daily News, Pittsburg Morning Sun, and more than 300 other papers across the United States, closed at six cents per share today on the Pink Sheets (it was long ago delisted from the New York Stock Exchange.

For that sterling performance and for continuing to have billions worth of debt and no viable plan to pay it, CEO Michael Reed received an $800,000 bonus.

Imagine what he could get if ever was able to come close to making a profit and putting out quality products.

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