Sinclair's market value down $25 million this week! (Boston Herald)

[G_j]

According to the Boston Herald, Sinclair's market value has lost
$25 million this week!

http://business.bostonherald.com/businessNews/view.bg?articleid=48778

<snip>
If Sinclair's chairman, David Smith, was hoping to impress Wall Street, it didn't work. Sinclair fell yesterday for the second day running, tumbling more than 1 percent in heavy volumes. Total wiped off the market value since the weekend: $25 million.

``It's very disappointing,'' one portfolio manager told the Herald yesterday. ``Now we'll probably see some liberal company respond. I wish these companies would just stay out of politics.''

<snip>

[PROGRESSIVE1]

1. Oh, boo-hoo-hoo!

:eyes:

O.K, so when to they go bankrupt?

[ElectroPrincess]

2. Thanks for the good news :-)

This corporation's actions are so transparently right wing, as John Edwards may say, "They ran out of lipstick for that pig." <snicker>

Of course our unbiased "no personal conflicts here" Chairman Michael Powell made a clear statement that he had no intention of stopping Sinclair from airing in Baltimore. Hum? His (Michael Powell's) daddy works for the sitting President. Morally Powell should step aside on this FCC decision due to a crystal clear conflict of interest, i.e., his daddy will make more money on the lecture circuit if * is reelected. Oh, my bad = far too many Republicans and family members of Republicans will compromise their moral values for the RIGHT authority figure(s). How they square these decisions with their personal consciouses is a mystery to the rest of us.

[GinaMaria]

3. Any prediction about

them folding before they air the propaganda piece? That would be poetry.

[G_j]

8. probably not

and they are a stubborn bunch, hopefully they will just hang themselves and lose the Co.

[loudsue]

4. Sinclair stockholders need to get a court order to stop the company

from doing this. They need to get some big hitters involved if they want to keep their stock value.

:kick::kick::kick::kick:

[G_j]

12. gounds: it would appear

Sinclair is behaving recklessly.. :-) :kick:

[glitch]

5. Hostile takeover possible? George Soros, where are you?

Wouldn't that be so great?

[Shopaholic]

6. Yeah--that's great but let's look at the big picture here---

Sinclair is more than willing to take a $25 million stock loss and whatever the hit in ad revenue is going to be from this debacle because they figure that if they can swing the election and their boy goes back in, then they stand to make a profit in the hundreds of millions. They're willing to take that risk and who's going to stop them? Not the FCC or FEC, that's for sure!

[Vadem]

7. Hopefully, it will go down $100 million next week....

<snip>

"But the Democratic party's outcry may carry little weight, given Sinclair's First Amendment rights, FCC insiders said yesterday. Until the show airs, there is no violation of equal-time rules for political candidates. The FCC wouldn't step in unless it got a complaint that a broadcaster gave time to one candidate, then refused a request by the opposing candidate for equal time."

There is the solution--Kerry needs to demand equal time to show Going UpRiver or F911, immediately after their showing of the anti-Kerry film.

[prolesunited]

10. Since when did a corporation have First Amendment rights?

I can't stand that they are afforded personage. I'm sure our Founding Fathers had this outcome in mind when they drafted the Constitution. I'm sure the right appreciated those activist judges on this one.

[Kathy in Cambridge]

11. The Repukes would afford the same rights to corporations as individuals

I'm amazed how many idiots have said that Sinclair has the right to free speech.

:hi:

BTW I had fun in Chicago! It was great meeting you!

[Eye and Monkey]

9. so, shouldn't this 25 Million $$ be considered a campaign contribution?

Not tax-deductible, and all???