I had trouble finding it, for some reason. My "child." Posted just days BEFORE MNI's earnings release.
Simple. Wall Street generally OVERvalues growth and "sizzle." I prefer the cash flows of "zombified" media companies like LEE and MNI by far...even if the Wall Street Journal pooh-pooh both of them today, over GCI (in today's Heard on the Street column).
I have already reached out to longtime via email per his request.
I can be reached at twitter at I75 .
I am working on some travel websites, all the major highways like i-95south.com and i-75south.com. Just a hobby that will make me $24 million in the next 3 years. lol
I will be emailing you. I claim no authority on how wall street values securities. I did guess right that the 2q report would be better than expected and had a 1 year target price of $2.15, which I raised to $3 and now sit at $8.50. All in writing.
Google is an advertising company, more than 90% of their BILLIONS of dollars in revenue comes from advertising, either on their sites or through affiliate programs. Three years ago, the market cap of Google was 2x greater than the COMBINED market cap of all publicly traded newspaper companies. At the time, I was amazed, but glad to own my 100 shares.
Now the market cap of Google is more than 30X the market cap of all publicly traded companies. Some of those that were public are now worthless (JRC< TRIBUNE< GATEHOUSE).Please read these last 2 paragraphs again, and explain to me how Wall Street values securities.
Very kind, gents. Much obliged.
Newspaper is a very intelligent man, who knows a ton about the newspaper business. But there is one problem. I respectfully submit that because of his personal closeness to the industry, and his receiving the raw end of the "recent hellishness," he can become too "caught up," and his views about the industry being "killed," or nearly killed by Google are simply distorted, or, in any case, drastically overblown. I have proven that here with my analysis. His retort that "absolute profit dollars" trumps profit margins is an unacceptable, inadequate, and illegitimate, response.
He has more experience about the inner workings about the newspaper biz and advertising, by far. I respectfully believe that I have more knowledge about how Wall Street values securities. (Didn't Newspaperad have a one year target of like $2.50 on MNI until shortly after the earning release?) In any case, I'm going to dip my toes in the water, and reach out to him....in order to put two great minds together. [lol] Of course, I can always be e-mailed at email@example.com
My condolences on the cutback. I have no personal connections to anyone working in the business, so my context, of course, was the RELIEF as a shareholder, that the drastic costcutting saved the company. One well knows that that involves a lot of pain to a lot of people.
On the other hand, I don't see why, when the industry turns back up, you can't get back in the business.
As for Google, I never EVER said that they didn't take SOME share away from newspapers. What I did say, and you'll see my posts to this effect on other msg. boards, is that LEE, MNI, and GCI were VERY profitable through about 2006, to such a degree, such that one can NOT ascribe the rise of Google as being any kind of "death knell." Frankly, I would argue that Craiglist did more to hurt big city papers than Google, and am curious to know if you agree.
I'll try to call you later this week, and maybe we can reach a rapproachment, and patch things up.
Thanks for reminding me that what has happened at MNI, and everywhere else is about PEOPLE. It's important to not forget that, or minimize that, even if we, as investors, may have very well had our equity interest in MNI protected because of the axe falling.
Sorry to hear that. I was actually gonna ask you why you were on the MNI board and not the other media co's. Now I know.
Hey, why do you think MNI will hit $8.50?
Thanks again for your posts