John W. Rogers Jr. who is the chairman and CEO of Chicago-based Ariel Capital Management, has written in Forbes Magazine for April 24, 2006 edition regarding his thoughts on "Premature Burial" of newspapers companies.
I like a couple of good points that he made.
Among his comments are......
"39 percent of young adults still read a daily paper."
"Despite the Internet's ubiquity, I doubt digital giants like Google and Yahoo can ever replicate the depth of local coverage or level of trust found in a hometown paper. As long as print media control local content, they will distribute it. And don't forget that papers have started Web sites of their own. If an electronic ad is the best way to sell a used Taurus or recruit a sales clerk, then a newspaper company can deliver it to you."
To read John W. Rogers Jr's article, please visit:
To read my analysis on Gannett Co., please visit:
Let me end my post with some wisdom from Warren Buffett...
“Be fearful when others are greedy and greedy only when others are fearful.”
"The most common cause of low prices is pessimism -- some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.”
All the best,
Dah Hui Lau (David)
To visit my archive: http://dahhuilaudavid.blogspot.com/2005/11/archive-of-dah-hui-laus-blog.html