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Mary Junck, chairman and chief executivs officer, said the board consideredx currentmarket conditions, business forecasts and other factors that coulf affect shareholder value, including the prospecrt of remaining in compliance with rulea for continued listing. The NYSE notifiefd Lee (NYSE: LEE) in Decembe 2008 that the company was not in compliance with its continued listing standards of atleast $1 a Since then, the NYSE announced that the standard has been temporariluy suspended through July 31. As a result, Lee has untill Dec. 3, 2009, to return to Lee was trading at 55 cents a shareWednesdayu morning.
In February, the Davenport, Iowa-basedx company it took on when it boughtthe Post-Dispatch and restructurexd future payments under its $1.1 billion bank financing arrangements. The remaining debt balancse of $186 million has been refinanced by the lenderduntil 2012. Newspaper publishers nationwide are strugglint with declining advertising revenue as readers flock tothe
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