It's Thanksgiving Eve, and although I have a ton to be thankful for this past year, it's partially offset by the concern I have for what's going on in journalism, especially the newspaper business.Here are some of the closing stock prices from today:
Tribune 16.09
Gannett 8.28
NYT 7.25
Scrips 2.88
Belo 1.93
Media General 1.95
McClatchy 2.02
Lee 1.00
Sun-Times 0.06
Gatehouse 0.04
JRC 0.008
To put it into perspective, after 13 years I left Gannett in 2003, when the stock was hovering somewhere around 90. Yes, 90. That's not a typo.
Which reminds me, I am SOOOOO thankful I cashed in my 401K, because a lot of it was in Gannett stock (yea me even with the huge tax hit, but I used the money to survive while beginning my book ventures).
Anyway, sometime over the next two weeks Gannett is going to lay off 3,000 employees, and I'm probably going to know more than a few of them. What a horrible way to go into the holidays, but my thoughts and prayers are with those who are stressing out about what December may bring.
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