Tuesday, December 23, 2008

Race to zero nearing completion

I've mentioned several times that the Herald's parent company's (McClatchy) share price was in a race to zero. Today a reader notified me that the price was at 75 cents. In March of 2005 the price was 100 times that amount ($74.80). Of course that was before McClatchy acquired the Miami Herald and other troubled newspapers from Knight-Ridder. The company's stock will soon be worthless. Hopefully historians will correctly document this as a lesson on how NOT to run a company, namely by alienating, insulting and underestimating the company's customers. When the Herald goes out of business I suppose Herald Watch will go out of business. That's OK with me. I don't have much time for it these days anyway.

H/T: Big Bob

6 comments:

Anonymous said...

You can call me a disgruntled reader. Eartha Kitt dies on Christmas day and The Herald doesn't even bother to run an obit. If not for Howard Cohen's blog, 2 days later, there would be no mention of Kitt on The Herald's website. Since I have many choices, I will read the NYT site and say good riddance to The Herald.

Tonii said...

nOT TRUE! i build the A Section and we ran a Kitt obit on the inside A .

MBA said...

Why, whatever do you mean, Mr. Herald Watch? True, the Herald has a longstanding, well established pattern of insensitivity, disrespect and thinly veiled disdain for a very significant proportion of its potential readership, but after all, fashion and correctness must be served. Surely you don't expect them to ignore the example of the New York Times and the Wasington Post, now do you, you silly person?

Besides, it's better to put and keep "those people" in their place than to worry about practical business common sense, let alone bourgeois trivialities like tact and decency. Doing the reverse would be just too vulgar.

Anonymous said...

Kitt obit did not show up online on Dec. 25, even though I typed Eartha Kitt in the little search box. It finally showed up, days later, dated Dec. 25. This is 2008, almost 2009. I don't buy the printed product. I have a computer.

Not Steve Martin said...

Uh, excuse me, but with all due respect to Eartha Kitt, the Herald has far worse problems than obituary issues. You know, like persisting against all logic in employing a seriously tainted, stinkingly fishy character like Marifeli Perez-Stable, who is downright repulsive to the great majority of Cuban-Americans, as an "expert" on, you got it, Cuba issues. I mean, we're talking either insanity or deliberately giving the Cuban community the finger. Either way, the response is not likely to be favorable.

Anonymous said...

What is going on with the Herald land sale? We need some inside information. Community activists say the planned development will never happen. Now another six months is granted to the buyer. Another blog poster wrote that the area in discussion has empty buildings now. What gives?