Tuesday, March 10, 2009

Journal Company in the tank...

Yesterday, Morningstar, was able to report on the basis of inter-day fluctuations in price, that the stock of Journal Company, (JRN)--publishers of the increasingly fetid daily Milwaukee Journal Sentinel--had shown a gain of 10%.

Whoopee!

Then we teased out the details. After opening at just about $0.43 per share, someone bumped the price by a nickel and induced this amazing ten percent increase in valuation (not for long, though; the price then retreated to forty cents at the end of trading.

Ten percent of squat is diddly squat.

One might predict that soon Patrick McIlheran, Mabel Wong and David Haynes--right wing troika of opinion--will be looking for a rexograph or mimeo machine to put out their increasingly tone-deaf nonsense.

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Of the biblical allotment of three score and ten I have lived only three of them more than a bicycle ride from one of the Great Lakes. I grew up ten blocks from Lake Erie in the (once Irish/Italian ghetto, now newly-hip) "Near West Side" of Cleveland. I can still cycle to the Milwaukee lakefront in an hour and a half; but, a round-trip has always been more than I would (noror ever did) attempt. -0- I'm a "...somewhat combative pacifist and fairly cooperative anarchist," after the example of Grace Paley (1922-2007). -0- I'm always cheerful when I pay my taxes (having refused--when necessary--to pay that portion of them dedicated to war). -0- And I always, always vote.