Thursday, July 03, 2008

Will the Last Newspaper Dying Please Turn Off the Lights (of truth/beauty/etc.)?

Some people show data and statistics to advocate for something, which we, as readers, immediately distrust because we know all about lies, damn lies, statistics, etc.

Some folks think that because one has a "blog", a "blogger" (I still prefer using "jenga!", personally) is against print newspapers and has joined some sort of jihad against print journalism.

Combining the two points above, some might get the impression upon seeing the stock market figures below that I, a so-called "jengaist!", am happy that newspapers are circling the drain at a high, increasingly smaller circle rate.

I'm not happy about it. It's just there (prices from Bloomberg at blog post time 7/3):

Price: 5.46
Daily Change: -.039
% Daily Change: -6.667%
52-week high: 28.73
52-week low: 5.45
1-year return: -76.826%

Price: 19.59
Daily Change: -.240
% Daily Change: -1.21%
52-week high: 55.27
52-week low: 19.32
1-year return: -62.477%

E.W. Scripps
Price: 2.91
Daily Change: -.050
% Daily Change: -1.69%
52-week high: 3.78
52-week low: 2.70
1-year return: -15.856%

Note that Scripps' 16% drop in price over the last 52 weeks is smaller simply because they have been tanking for a longer time.

Brutal. And no, I'm not happy about it. But have a Happy Fourth, anyway...even if you're not a fireworks fan (or really a fan of tribalistic "the country in which I happen to live is better than your country by virtue of my having residence in this country" crap).

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