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Author Topic: Recession! How bad will it be?
bdgee
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"freemarketism is just a figment of the imagination of the propagandists."

I do, indeed, agree with that....and their propaganda is successfully and incessantly repeated enough to have captured the minds of most republicans, who then imagine it too.

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raybond
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Print Back to story

The 10 Major Newspapers That Will Either Fold or Go Digital Next
By 24/7 WALL ST. 24/7 Wall St.
Mon Mar 9, 12:30 pm ET

Over the last few weeks, the newspaper industry has entered a new period of decline. The parent of the papers in Philadelphia declared bankruptcy as did the Journal Register chain. The Rocky Mountain News closed and the Seattle Post Intelligencer, owned by Hearst, will almost certainly close or only publish online. Hearst has said it will also close The San Francisco Chronicle if it cannot make massive cuts at the paper. The most recent rumor is that the company will fire half of the editorial staff. That action still may not be enough to make the property profitable.


24/7 Wall St. has created its list of the ten major daily papers that are most likely to fold or shut their print operations and only publish online. The properties were chosen based on the financial strength of their parent companies, the amount of direct competition that they face in their markets, and industry information on how much money they are losing. Based on this analysis, it is possible that eight of the fifty largest daily newspapers in the United States could cease publication in the next eighteen months. (Read: "The Race for a Better Read")


1. The Philadelphia Daily News. The smaller of the two papers owned by The Philadelphia Newspapers LLC, which recently filed for bankruptcy. The parent company says it will make money this year, but with newspaper advertising still falling sharply, the city cannot support two papers and the Daily News has a daily circulation of only about 100,000. The tabloid has a small staff, most of whom could probably stay on at Philly.com, the web operation for both of the city dailies.


2. The Minneapolis Star Tribune has filed for Chapter 11. The paper may not make money this year even without the costs of debt coverage. The company said it made $26 million last year, about half of what it made in 2007. The odds are that the Star Tribune will lose money this year if its ad revenue drops another 20%. There is no point for creditors to keep the paper open if it cannot generate cash. It could become an all-digital property, but supporting a daily circulation of over 300,000 is too much of a burden. It could survive if its rival the St. Paul Pioneer Press folds. A grim race.


3. The Miami Herald, which has a daily circulation of about 220,000. It is owned by McClatchy, a publicly traded company which could be the next chain to go into Chapter 11. The Herald has been on the market since December, and but no serious bidders have emerged. Newspaper advertising has been especially hard hit in Florida because of the tremendous loss in real estate advertising. The online version of the paper is already well-read in the Miami area and Latin America and the Caribbean. The Herald has strong competition north of it in Fort Lauderdale. There is a very small chance it could merge with the Sun-Sentinel, but it is more likely that the Herald will go online-only with two editions, one for English-speaking readers and one for Spanish.


4. The Detroit News is one of two daily papers in the big American city badly hit by the economic downturn. It is unlikely that it can merge with the larger Detroit Free Press which is owned by Gannett. It is hard to see what would be in it for Gannett. With the fortunes of Detroit getting worse each day, cutting back the number of days that the paper is delivered will not save enough money to keep the paper open.


5. The Boston Globe is, based on several accounts, losing $1 million a week. One investment bank recently said that the paper is only worth $20 million. The paper is the flagship of what the Globe's parent, The New York Times, calls the New England Media Group. NYT has substantial financial problems of its own. Last year, ad revenue for the New England properties was down 18%. That is likely to continue or get worse this year. Supporting larger losses at the Globe will become nearly impossible. Boston.com, the online site that includes the digital aspects of the Globe, will probably be all that will be left of the operation.


6. The San Francisco Chronicle. Parent company Hearst has already set a deadline for shutting the paper if it cannot make tremendous cost cuts. The Chronicle lost as much as $70 million last year. Even if the company could lower its costs, the northern California economy is in bad shape. The online version of the paper could be the only version by the middle of the 2009.


7. The Chicago Sun Times is the smaller of two newspapers in the city. Its parent company, Sun-Times Media Group trades for $.03 a share. Davidson Kempner, a large shareholder in the firm, has dumped the CEO and most of the board. The paper has no chance of competing with The Chicago Tribune.


8. NY Daily News is one of several large papers fighting for circulation and advertising in the New York City area. Unlike The New York Times, New York Post, Newsday, and Newark Star Ledger, the Daily News is not owned by a larger organization. Real estate billionaire Mort Zuckerman owns the paper. Based on figures from other big dailies it could easily lose $60 million or $70 million and has no chance of recovering from that level


9. The Fort Worth Star Telegram is another one of the big dailies that competes with a larger paper in a neighboring market - Dallas. The parent of The Dallas Morning News, Belo, is arguably a stronger company that the Star Telegram's parent, McClatchy. The Morning News has a circulation of about 350,000 and the Star Telegram has just over 200,000. The Star Telegram will have to shut down or become an edition of its rival. Putting them together would save tens of millions of dollars a year.


10. The Cleveland Plain Dealer is in one of the economically weakest markets in the country. Its parent, Advance Publications, has already threatened to close its paper in Newark. Employees gave up enough in terms of concessions to keep the paper open. Advance, owned by the Newhouse family, is carrying the burden of its paper plus Conde Nast, its magazine group which is losing advertising revenue. The Plain Dealer will be shut or go digital by the end of next year.


- Douglas A. McIntyre

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Wise men learn more from fools than fools from the wise.

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raybond
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Print Back to story

Ohio school gets 700 applicants for janitorial job
Sat Mar 7, 10:19 am ET

MASSILON, Ohio – Evidence of the slumping economy is stacking up at an Ohio school which has nearly 700 applications for one open janitorial job.

Officials at Perry Local Schools near Canton in northeast Ohio say they've extended the deadline until Monday to accommodate the overwhelming response to the week-old posting.

The full-time position at Edison Junior High School pays $15 to $16 an hour plus benefits.

Superintendent John Richard says many applicants are laid-off workers with heart-wrenching stories about the tough economic times.

Forty-nine-year-old Donna Croston says she applied after losing jobs at two nearby factories that closed.

Croston says her chances of being hired amid the hundreds of applicants are slim, but she's hoping to get lucky.

___

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Wise men learn more from fools than fools from the wise.

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Propertymanager
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It's going to get MUCH worse before it gets better.
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jordanreed
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very enlightening!!

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jordan

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Propertymanager
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quote:
very enlightening!!
Thank you Jordan. I'm glad that you were able to learn something this morning.
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glassman
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quote:
Originally posted by Propertymanager:
It's going to get MUCH worse before it gets better.

you have this way of stating the obvious like you are the Oracle at Delhi. (no that's not a misspelling [Big Grin] )

we all know it's going to get worse. we alos know that you will continue to blame Obama even tho his programs have yet to begin.

why don't you go find a group of idiots that will worship you like you really want. oh, that's right Rush already has THEM [Big Grin]

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Don't envy the happiness of those who live in a fool's paradise.

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Propertymanager
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quote:
we all know it's going to get worse. we alos know that you will continue to blame Obama even tho his programs have yet to begin.
The market and the economy are looking at Obama's programs and voting with their dollars, which is the most accurate vote that exists. Obama's wreckless spending; socialist programs; cap and trade; tax increases are going to DESTROY the country. I'm not talking about a recession or even a 1929-1933 type depression, I'm talking about a collapse. That's what Obama is doing. The collapse hasn't happened yet precisely because Obama's programs have yet to begin. Give his programs a little time to work, and you'll get to experience the collapse first hand!
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glassman
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quote:
Originally posted by Propertymanager:
quote:
we all know it's going to get worse. we alos know that you will continue to blame Obama even tho his programs have yet to begin.
The market and the economy are looking at Obama's programs and voting with their dollars, which is the most accurate vote that exists. Obama's wreckless spending; socialist programs; cap and trade; tax increases are going to DESTROY the country. I'm not talking about a recession or even a 1929-1933 type depression, I'm talking about a collapse. That's what Obama is doing. The collapse hasn't happened yet precisely because Obama's programs have yet to begin. Give his programs a little time to work, and you'll get to experience the collapse first hand!
yawn... you really do know how to repeat the party line. one of rush's dittoheads.

i already proved to you that the crash of 29 followed the very same outline as we had the past decade.

it's hilarious that you are trying to blame this stuff on Obama. Bush did it. he did it on purpose. this is Bush's depression here buddy, own it, you voted for it.

i want you to look at states that are considered RED states and then Look at states that are considered blue states.

then i want you to add up their taxes...

you'll find the red states collect a lot less taxess...

vote with your ASSS, move to one.

the thing is? if you are poor and you move to a red one? you will most likely remain poor forever. it is garanteed.

if you are poor and move to a blue state? you have a fair chance of becoming wealthy and "Living the American Dream" if you work hard and make the sacrifices necessary...

you are preedicting the end of the nation. i heard the same crap from people like you when clinton got elected.. it didn't happrn till bush took office and really screwed stuff up.

Bush had to pander to ultra right freak show to get that last 6%..
you aren't the "base" of anything but the fire triangle.

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Don't envy the happiness of those who live in a fool's paradise.

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bdgee
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quote:
Originally posted by Propertymanager:
quote:
we all know it's going to get worse. we alos know that you will continue to blame Obama even tho his programs have yet to begin.
The market and the economy are looking at Obama's programs and voting with their dollars, which is the most accurate vote that exists. Obama's wreckless spending; socialist programs; cap and trade; tax increases are going to DESTROY the country. I'm not talking about a recession or even a 1929-1933 type depression, I'm talking about a collapse. That's what Obama is doing. The collapse hasn't happened yet precisely because Obama's programs have yet to begin. Give his programs a little time to work, and you'll get to experience the collapse first hand!
The collapse that happened last year apparently escaped your notice when you were so engrossed in passing out hate and bigotry toward everyone that doesn't meet your requirements of being socially intolerant and stinking rich. Possibly, had you been concentrating on reality instead of the remaking of America into your ideal political state (they achieved that in Germany in the 1930s and you got left out of that too), it would have rung a bell and you would have known, but probably, you would have missed it even then. Normally, one would expect even a pitiful mental retard to have known about the collapse, as everyone has been talking about it almost 24 hours a day since, but then, you clearly aren't up to the level of a pitiful mental retard.
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glassman
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Give his programs a little time to work, and you'll get to experience the collapse first hand!

here's the "fun" part..

we will see his programs work (or not) because there's only two ways they are not going to be implemented.
the reason they will be implemented is because the GOP screwed ITSELF for the last ten years by taking everything they could grab. people got fed up.

as to the two ways Obamas plan will not be implemeted? they are both much worse than a severe depression. and if you are involved in bringing either of them about? you will not even get a trial. that i will predict.

--------------------
Don't envy the happiness of those who live in a fool's paradise.

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Propertymanager
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quote:
the reason they will be implemented is because the GOP screwed ITSELF for the last ten years by taking everything they could grab. people got fed up.
What did they grab? Nothing. The socialist Bush GAVE AWAY the farm with all his wreckless spending. That the GOP screwed itself is not in question. They moved far to the left and are being punished for their stupidity.
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glassman
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quote:
Originally posted by Propertymanager:
quote:
the reason they will be implemented is because the GOP screwed ITSELF for the last ten years by taking everything they could grab. people got fed up.
What did they grab? Nothing. The socialist Bush GAVE AWAY the farm with all his wreckless spending. That the GOP screwed itself is not in question. They moved far to the left and are being punished for their stupidity.
you are agreeing with budgee, who is repeating what relentless has been saying for years.

Bush is not socialist, he's a fascist. He and Cheney diverted as much cash as they could to corporate America... they even did it under the guise of spreading our influence around the world.. that was Hitlers plan too.

socialism is the spreading of wealth amongst the PEOPLE, fascism is placing corporate interests above the good of the people...

a fascist beleives that what is good for business is good for the country...

a socialist believes that corporations should be owned by the government.

--------------------
Don't envy the happiness of those who live in a fool's paradise.

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bdgee
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"Bush GAVE AWAY the farm with all his wreckless spending."

Well, at least partially.

Now ain't you proud you were so smart as to have voted for him two times!!!!

Gosh, you are a genius at foretelling and planning for the future, ain'tcha......

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CashCowMoo
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Here we go again! Dems are drunk on spending!

"Pelosi open to second stimulus "


http://www.politico.com/news/stories/0309/19835.html

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It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

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bdgee
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quote:
Originally posted by CashCowMoo:
Here we go again! Dems are drunk on spending!

"Pelosi open to second stimulus "


http://www.politico.com/news/stories/0309/19835.html

Actually, the overwhelming consensus of real live and concerned economist across the whole world is that at least one more and maybe a third stimulus package, both of at least the same size, will be required in order to have a chance at preventing massive starvations and huge numbers of diseased caused deaths. From what you say, it sounds like Pelosi is paying attention to those that study the situation and are being responsible.
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Propertymanager
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quote:
...lwill be required in order to have a chance at preventing massive starvations and huge numbers of diseased caused deaths.
LOL! It would take months for most of the deadbeats in this country to starve to death. All they've done for years is eat, drink beer, smoke cigarettes, and watch their big screen tv's (courtesy of the American taxpayer)!
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raybond
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Best you join the fascist now pm and get it over with wether you know it or not you are one a post like you just made is plain stupid.

You primitive bicameral do you hear voices from the right side and think its the holy incarnate of Adolph

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bdgee
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I wonder if he is blue eyed and blond and might have been adopted after birth in Germany in the 40s?
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glassman
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quote:
Originally posted by Propertymanager:
quote:
...lwill be required in order to have a chance at preventing massive starvations and huge numbers of diseased caused deaths.
LOL! It would take months for most of the deadbeats in this country to starve to death. All they've done for years is eat, drink beer, smoke cigarettes, and watch their big screen tv's (courtesy of the American taxpayer)!
you think this is funny?

you think it's a joke?

we all know you and limbugger are a joke, but the joke is one of those that nobody but the butt laughs about. it's one of those laughs you hear in creepy movies too.

i just finished setting the first third of my garden today.. i did all the weeding up front... this part of my garden will not have one weed in it and i used no weedkiller at all [Wink]

and yes, i can afford groceries and my mortgage. i just don't trust the supply system anymore.

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Don't envy the happiness of those who live in a fool's paradise.

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glassman
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didn't citi report profits for Jan and Feb this year?

By David Mildenberg and Bryan Keogh

March 11 (Bloomberg) -- Citigroup Inc. and Bank of America Corp.’s bond prices are sliding on concern that owners of debt issued by U.S. financial firms will be forced to swallow losses if the industry needs another bailout.

U.S. bank debt has lost 7.6 percent and yields have jumped to record levels compared with benchmark rates in the past month, even after taxpayers committed more than $11.6 trillion to prop up financial firms. With shareholders almost wiped out at banks like Citigroup and lawmakers resisting more rescues, holders may be asked to swap bonds for new debt that offers reduced interest rates or lower face values, analysts said.


http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aKqHkkFlnvfM

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Propertymanager
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quote:
you think this is funny?...you think it's a joke?
No, it's not funny that you lefties have turned millions of Americans into lazy deadbeats! However, yes, it is a joke. It's a joke on every hard-working American that pays to allow lazy people to sit home all day and watch their big screen tv!

quote:
i just finished setting the first third of my garden today.. i did all the weeding up front... this part of my garden will not have one weed in it and i used no weedkiller at all

and yes, i can afford groceries and my mortgage. i just don't trust the supply system anymore.

That's VERY SMART! Being prepared for the impending collapse is very wise. I'm prepared also!
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CashCowMoo
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U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey.

economists' main criticism of the Obama team centered on delays in enacting key parts of plans to rescue banks. "They overpromised and underdelivered," said Stephen Stanley of RBS Greenwich Capital. "Secretary Geithner scheduled a big speech and came out with just a vague blueprint. The uncertainty is hanging over everyone's head."


http://online.wsj.com/article/SB123671107124286261.html

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It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

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glassman
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quote:
Originally posted by CashCowMoo:
U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey.

economists' main criticism of the Obama team centered on delays in enacting key parts of plans to rescue banks. "They overpromised and underdelivered," said Stephen Stanley of RBS Greenwich Capital. "Secretary Geithner scheduled a big speech and came out with just a vague blueprint. The uncertainty is hanging over everyone's head."


http://online.wsj.com/article/SB123671107124286261.html

which way do you want it cash? do you want bailouts? or don't you?

of course WSJ people are complaining... they wanted MORE money than they got. they want all the money they can get and they want it NOW...

the GOP on the other hand wanted no money given out or so they say in public anyway [Wink] if they were in control? they'd be giving it out directly to the corps. with no strings attached like paulson did...

at least Obama has put some (very few) rules in place...


these same econonomists?

The economists, many of whom have been continually surprised by the depth of the downturn, also pushed back yet again their forecasts for when a recovery would begin

didn't even predict the crash...

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Propertymanager
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quote:
didn't even predict the crash...
But they have called the bottom over and over and over again!
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bdgee
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Who says?
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