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Just three years ago, Media General was a $69 stock, but after a steady dive, including a 22 percent drop today, the Richmond-based parent company of the Daily Progress trades for just a $1.50 per share, a monumental fall, even in the beleaguered world of daily newspapers.
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Car explodes, one killed
A 911-caller near Gordonsville reported hearing an explosion right before a nearby car burst into flames around 6pm last night. When Albemarle County firefighters responded, according to a report from the Charlottesville Newsplex, the vehicle was engulfed and one person inside the vehicle was dead. (1)
Heartbreaking horror: freak accident claims 14-year-old
A teenage girl is dead in a horrific and bizarre parking lot mishap. According to NBC29, a mother pulling into a Hardee’s parking lot in Waynesboro fumbled with the vehicle’s pedals and accidentally slammed into her daughter’s friend, Lindsay Hyson. (0)
Singletary traded to fourth different team
Sean Singletary was always hard for any opposing defense to pin down when he played at John Paul Jones Arena. Now the former Cavalier and NBA rookie can’t seem to pin down a permanent address. Yesterday, the Phoenix Suns traded Singletary to the Charlotte Bobcats, making the Bobcats the fourth different team that’s acquired Singletary this year. In June, the Sacramento Kings drafted Singletary in the second round of the NBA Draft, only to trade him to the Houston Rockets in August, who then traded Singletary to the Suns later that month. Singletary had been averaging 2.6 points in 9.4 minutes per game for the Suns. (3)
DuPont-- er, Invista-- sheds 210 jobs in W'boro
Nylon maker Invista, formerly a DuPont subsidiary, is handing out 210 pink slips in Waynesboro due to the worldwide slowdown in demand for carpet. This brings recent layoffs at the Invista plant to 575, according to the News Virginian. (0)
Migration migrates: "Not a viable business model," say owners
Migration: A Gallery is the latest downtown art store to bite the dust, joining Sage Moon, whose last day selling art is today. After not quite three years in Charlottesville, Migration shuts its doors January 26, but owners Laura and Rob Jones promise to continue dealing art through their website. (2)
Amazing commentary from a newspaper that lost a ton of money through its first several years, which is an amazing accomplishment during the exceptionally good economic times around your launch. Is being mean spirited and unnaturally focused on the competition the way to serve the community? Probably not. Running an “alternative” weekly is not running a community newspaper. You don’t have to really be the paper of record. You just do what you want — it’s more of a vanity press than a true chronicler of the community. Get over yourself.
[...] The Hook points out that Media General’s stock has lost 98% of its value in the past three years. If it drops below $1/share for 30 days, they’re facing delisting from the NYSE. [...]
Charlie Bob sounds like a Progress sympathizer (employee?) so I wonder if he would comment on how the DP was a “chronicler of the community” or a “paper of record” when the Publisher endorsed Goode, McCain, even *Gilmore* in the recent election. Is this “serv[ing] the community?” Seem way out of touch to me.
Yo bob, how would this be different if the Progress reported the death of C-Ville Weekly. It seems like a very real possiblilty that the Progress’s parent could go belly up. That is news.
Really I have no idea why you have a problem this.