Summary
Operating losses are mounting, revenues remain in freefall, and print advertising and circulation continue to sink. The Chicago-based company's share price, which closed at $15.77 on [Conrad Black]'s last day as CEO on Nov. 21, 2003, fell to 85 cents earlier this month and closed Thursday at $1.14 -- collapsed under a mountainous burden of scandal, legal expenses and other problems.
"They were left in a mess by Lord Black," said George Putnam, editor of The Turnaround Letter for investors and president of Boston-based New Generation Advisers, which owns nearly 1.5 million shares of the company. "It's taking time to straighten it out.""They've tried to be aggressive on costs, but in the third quarter the five per cent they took out didn't offset the seven per cent decline in revenue."See the full content of this document
Extract
Black Leaves Bitter Legacy at Sun-Times
By Dave Carpenter
CHICAGO -- Conrad Black took a parting shot at those running his old newspaper company as he received a six and a half year prison sentence this week in a Chi...See the full content of this document
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