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Yikes: Shares of Gannett are trading at just over 82 cents, down 87% for the year. That leaves the nation's largest newspaper chain - publisher of 261 dailies, including @usatoday, with a market cap of about $107 million.
Update: Holy crap.
Gannett's market cap is now about 5% of the value of its $1.7b high-interest loan.
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Brad Heath
@bradheath
An AP-NORC poll found that the percentage of Americans who think things in the United States -- now facing a deadly viral outbreak and 20+ million unemployed -- are headed in the "right direction" is basically unchanged from a year ago. ¯\_(ツ)_/¯

apnorc.org/PDFs/Omnibus%2…
As the pandemic hit and the economy skidded to a halt, Americans expressed increasing optimism about what the next year will hold.
We are a fascinating country.
Read 3 tweets
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Brad Heath
@bradheath
Five inmates at the federal prison in Oakdale, Louisiana have died after contracting the coronavirus. Dozens of others are sick. But the Justice Department says that's no reason to release others, whose fears are "based entirely on speculation."
reuters.com/article/us-hea…
In dozens of court filings, DOJ has argued against releasing inmates because of COVID-19. It's suggested some might be better off in prison. And it tried to force a new inmate to show up even though he had symptoms of the disease. (The judge didn't go for that.)
“I’m afraid that if he gets sick, that’s it,” said the daughter of a 59-year-old inmate serving time at a federal prison where five inmates have died from COVID-19.

“He doesn’t deserve to lose his life over bank fraud.”

reuters.com/article/us-hea…
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Brad Heath
@bradheath
Shares of Gannett are in free-fall territory, down about 50% just today. The nation's largest newspaper chain now has a market cap of under $150 million (and an outstanding high-interest loan of $1.7 billion).
Since then, Gannett shares dropped another 6%. This is bad.
Slightly less horrible update:
Read 3 tweets

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