Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Wednesday, July 15, 2009
Gannett Will It Get The Recovery?
Gannett Co (GCI) gamely reported improved earnings on drastically lower revenues. The improvement is because the impairment pain occurred last year. Gannett tells us that they are positioning for the future when the economy rebounds. Here is the problem. If the consumer starts to believe in the new frugality and curtails consumption the value of media and Gannett will drop. So waiting for the good old days is risky. What are they doing to become relevant in a new consumer mindset?