Ouch:
The McClatchy Co., which owns 49.5 percent of The Seattle Times Co., has again cut the value of its share of the Seattle newspaper company—this time to nothing.
Because of The Seattle Times Co’s. “comprehensive loss related to its retirement plan liabilities” in 2008, McClatchy’s investment was zero as of Dec. 28, McClatchy said in its most recent filing with the Securities and Exchange Commission.
Countdown to The Stranger being the most widely read local newspaper in King County…
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MNI’s latest 10-k, a disclosure form the SEC periodically requires from all publicly traded companies. Here is what the lawyers are requiring it to say to investors.
http://idea.sec.gov/Archives/edgar/data/…
Essentially: damn, you’re screwed investors. And the NYSE may de-list us.
The NYSE has suspended it’s delisting requirements – didn’t you catch the memo on that earlier?
If they insisted on the $1 listing requirement, there are a lot of firms that would be delisted, and they need the money from the listings.