BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[New York Times Deathwatch: Will the Gray Lady make it through the year?]]>http://www.bloggingstocks.com/2009/02/20/new-york-times-deathwatch-will-the-gray-lady-make-it-through-th/http://www.bloggingstocks.com/2009/02/20/new-york-times-deathwatch-will-the-gray-lady-make-it-through-th/http://www.bloggingstocks.com/2009/02/20/new-york-times-deathwatch-will-the-gray-lady-make-it-through-th/#commentsFiled under: , ,

Yesterday the New York Times (NYSE: NYT) suspended its dividend, following other struggling newspaper giants like McClatchy in a desperate move to save cash amidst the Perfect Storm buffeting their industry. A deep recession, sinking paid subscription rolls, and crashing classified and display ad sales caused by competition with the Internet have all conspired to put the entire newspaper business on life support far faster than almost anyone imagined possible.

A number of financial bloggers and technology titans are now saying the Times won't survive the year. Even after suspending the dividend, NYT will struggle to be cash-flow positive, particularly considering it has to service a crushing 14% interest burden on the recent Hail Mary $250 million loan package from Mexican billionaire Carlos Slim Helu.

Continue reading New York Times Deathwatch: Will the Gray Lady make it through the year?

New York Times Deathwatch: Will the Gray Lady make it through the year? originally appeared on BloggingStocks on Fri, 20 Feb 2009 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BloomgergdeathwatchdividendsuspensionfeaturedMcClatchyNew York TimesNews Corp.NewspaperNYTSulzbergerFri, 20 Feb 2009 10:00:00 EST<![CDATA[Sealy (ZZ) not a sleeper]]>http://www.bloggingstocks.com/2008/04/09/sealy-zz-not-a-sleeper/http://www.bloggingstocks.com/2008/04/09/sealy-zz-not-a-sleeper/http://www.bloggingstocks.com/2008/04/09/sealy-zz-not-a-sleeper/#commentsFiled under: , , ,

The country's largest mattress manufacturer, Sealy Corporation (NYSE: ZZ) posted 1Q 2008 numbers that, while not all that good were better than expected. This caused investors to bid up the stock 6.5% to close at $7.56 today.


Overall, net sales declined 5% to $392 million in 1Q 2008. The decline would have been much larger were it not for a 15% increase in international sales. Sales by unit volume were off by over 10% but the average selling price per unit declined by much less.

Like many companies, Sealy has been hit by large costs increases in raw materials, particularly steel and foam. The company has kept a tight rein on expenses and reduced its debt by 1% to $795 million. Management recently voted to suspend the dividend. Generally not a good idea to save money at the expense of investors.

Interim CEO Larry Rogers believes the company will return to long-term growth and profitability by concentrating on specialty bedding products. This is a fancy industry term for mattresses with a price tag over $1,000. Sealy plans to introduce new Posturepedic specialty bedding products throughout 2008. At least, anxious investors can get a good night's sleep to face the latest economic news the next day.

Sealy (ZZ) not a sleeper originally appeared on BloggingStocks on Wed, 09 Apr 2008 18:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bedsdividend suspensionDividendSuspensioninthenewsLarry RogersLarryRogersmattressesPosturepedicSealy CorporationSealyCorporationZZWed, 09 Apr 2008 18:05:00 EST