This blog features observations from Randy Turner, a former teacher, newspaper reporter and editor. Send news items or comments to rturner229@hotmail.com
Tuesday, July 15, 2008
GateHouse Media down 31 cents
GateHouse Media stock fell to exactly $1 this morning, before rebounding slightly to $1.05. The stock closed at $1.36 Monday. GateHouse Media owns The Carthage Press and Neosho Daily News among its 300-plus publications.
Well, I sure feel a lot better about declining to get in on the Gatehouse IPO back when it went public. It certainly would not have been a good investment of the kids' college money. My sympathies to those who have seen significant investments earned during decades of hard work disappear over the past year. Hopefully everyone had diverse portfolios. I wonder how much of an impact the stock's plunge will have on the operations at local papers. Hopefully our papers will not be forced to undertake drastic cuts (goodbye Monday issue?) to make up for a corporate business plan that failed to live up to the hype.
Well, I sure feel a lot better about declining to get in on the Gatehouse IPO back when it went public. It certainly would not have been a good investment of the kids' college money.
ReplyDeleteMy sympathies to those who have seen significant investments earned during decades of hard work disappear over the past year. Hopefully everyone had diverse portfolios.
I wonder how much of an impact the stock's plunge will have on the operations at local papers. Hopefully our papers will not be forced to undertake drastic cuts (goodbye Monday issue?) to make up for a corporate business plan that failed to live up to the hype.