Yesterday, after Postmedia announced
the sale of its HQ building on Don Mills Avenue, its stock plunged in heavy (for Postmedia, anyway) trading.
And here's
PNC.B-T's one year trading chart, which shows the stock's long-term trend:
You know, if you showed that chart to an astrophysicist without telling them what it signified, they'd say it could only be the path of a star plunging into a humongous black hole, for no other phenomenon in the known universe exhibits such a steep decline. Then you could explain to him about Conservative newspapers in Canada.
In any case, here's the company's "forward-looking" press release. Reading between the lines, the author is saying that next time he writes one of these things he will already have boiled his belt for the calories, and will be hungrily considering eating his own gaunch in a desperate attempt to stave off malnutrition.
PS. Here's a Postmedia columnist sounding off on the glories of Capitalism. Talk to your boss, Peter Foster!
Hey, they're putting up an internet pay-wall at several of their newspapers.. that ought to get them back on their feet.
ReplyDeleteExcept, I for one can't be bothered to read most of their stuff and it's free. A working paywall will keep me out entirely.
ReplyDeleteI suspect many other would share my opinion
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