"Sinclair Broadcast Group is currently rated F (lowest rating)"--

[DemMother]

For what it's worth...from Reuters (via Atrios)

"Sinclair Broadcast Group is currently rated F (lowest rating). Appreciation potential (8) is very low; power rating (7) is very low. Relative to the S&P 500 Composite, Sinclair Broadcast Group Inc has moderate Value characteristics; appeal is likely to be to Income-oriented investors; perception is that SBGI is extremely high risk. Current annual total return performance of -28.0% is lower quartile. Current 5-year total return performance of -13.2% is lower quartile. Over the full time period, Sinclair Broadcast Group's stock price performance has been volatile and significantly below market. Sinclair Broadcast Group's current technical position is very weak. Sinclair Broadcast Group's power rating is 7. The trend in SBGI's earnings estimates has been unfavorable in recent months."

http://cnnfn.investor.reuters.com/ReportDetails.aspx?sid=1&ticker=SBGI.O&ta%20get=%2f%2fadvancedsearch&docid=20582667

Is there an F-? Because I think that's where they're headed.

Back to writing letters about Sinclair while I listen to James Taylor and the Dixie Chicks.

[PretzelWarrior]

1. good going. they are doing anything to drum up attention

hopefully it is all of the negative variety.

[meganmonkey]

2. 'F' is for

'F*cked'!!

[Bossy Monkey]

Yeah, I was looking at their results with an eye towards trying to get up

a stockholders' revolt; unfortunately, the stockholders are all named Smith (or anyway a clear majority are).

Was on Kos; will add link on edit if I can find the dang thing.

Edit: http://anna.dailykos.com/story/2004/10/9/20260/9513
As of February
13, 2004, there were approximately 71 shareholders of record of our
common stock. On March 15, 2003, beneficial owners of 5% or more of
the Company's Shares of Class B Common stock include David D. Smith,
28.1%; Frederick G. Smith, 21.2%; J. Duncan Smith, 28.3% and Robert E.
Smith, 21.1%. All directors and executive officers as a group
beneficially owned 98.6%. Beneficial owners of 5% or more of the
Company's Shares of Class A Common stock includes David D. Smith,
21.3%; Frederick G. Smith, 17.9%; J. Duncan Smith, 21.2%; Robert E.
Smith, 16.7%; Barry Baker, 6.3%; Neuberger Berman, LLC, 14.0%; T. Rowe
Price Associates, Inc, 5.4%; Putnam Investments, LLC, 9.7%;
Dimensional Fund Advisors, 5.0% and Earnest Partners, LLC, 5.1%. All
directors and executive officers as a group beneficially owned 49.8%.
Beneficial owners of 5% or more of the Company's Shares of Class C
Common stock includes David D. Smith, 25.4%; Frederick G. Smith,
19.3%; J. Duncan Smith, 25.6% and Robert E. Smith, 19.1%. All
directors and executive officers as a group beneficially owned 89.5%.

EditEdit: Kossacks appear to be doing yeoman work on contacting institutional investors holding Sinclair stock anyway.

[meganmonkey]

6. I thought you were kidding on the Smith thing

That's hardcore. I guess the threat of the investors bailing isn't very..er..threatening.

[Bossy Monkey]

7. Rich people can be hurt in the pocketbook

Their results over the last couple of years looked like a near-even split between money-losing and money-making quarters. They've already adjusted their 3d quarter earnings downward due to the hurricanes to about where they were last year when they barely made a profit. They made more in the 4th quarter last year, but swallowing all the ad revenues on a prime time Monday (I assume they'd have to pay for time the various networks their stations are on have already sold, as well as local advertising) would have to be a bit of a hit. Institutional investors aren't too thrilled with stunts like this; I'd say it's worth a try. If enough shares are sold, Smith family share value goes to crap, too. Just 'cause we can't overthrow them with a shareholder revolt doesn't mean we can't hurt them.

[DemMother]

8. Stockholder action--interesting suggestion from TPM reader

"A stockholder in Sinclair Broadcast Group can file what's called a "shareholder's derivative action" against the officers and directors of the corporation, which is publicly traded, to enjoin the officers and directors from using corporate resources in ways that do not benefit the shareholders. I believe Sinclair is incorporated in Maryland, and if so that's probably where the action should be brought. One stockholder has standing to sue and should request a temporary restraining order before the pseudo-documentary airs to prevent the officers and directors from misusing corporate property to benefit their political agenda."

more... (scroll down)

http://www.talkingpointsmemo.com

[demobabe]

9. shareholder action - that's an interesting idea...

...the directors and execs have a fiduciary duty to the shareholders - something can be done. the idea of contacting the institutional investors is a great one, too - they don't like this kind of behavior... boycotting the advertisers will work, too. given this quarter's projected results, sinclair is already in a compromised position - next year's projections are bleak as well (about half of this year's eps if i'm reading the numbers correctly). hurricanes are a temporary setback, but bad public sentiment is harder to shake off. this could compromise future earnings. reckless.

[girl gone mad]

11. I wonder if shares are traded..

on the Berlin stock exchange.

Does anyone know?

[spooky3]

3. Just goes to show what great businesspeople Repugs are.

[cheshire]

4. Good, can they just go away now?

[NRaleighLiberal]

5. Lowest quality stations in the Raleigh area -

Sinclair are the proud owners of the WB (ah, the Dubya-* network and the UPN network (whatever that stands for) - probably Unwatchably Piss-Poor Network....only the hard core fans of shows like Dawson's Creek and...geez, I don't know WHAT they show on UPN.....watch - suspect viewership in the dozens!

[evilqueen]

12. UPN : Unintelligent Puppet Network n/t

[frylock]

10. went from 7.50 per share down to 7.38 at close today..

it will probably drop like a stone for the rest of the week.

[partisan to truth]

13. emailed Syracuse NY stations- Automated Response...

We welcome your comments regarding the upcoming special news event featuring the topic of Americans held as prisoners of war in Vietnam. The program has not been videotaped and the exact format of this unscripted event has not been finalized. Characterizations regarding the content are premature and are based on ill-informed sources. Massachusetts Senator John Kerry has been invited to participate. You can urge him to appear by calling his Washington, D.C. campaign headquarters at [phone]. You may call this station's parent company headquarters at [phone] if you would like to make further comments on this matter. Thank you.


Hasn't it been filmed already?

[partisan to truth]

14. also....

here's an interesting latest breaking news link- couldn't post it on its own for some reason

http://cnn.aimtoday.cnn.com/news/story.jsp?floc=FF-RTO-PLS&idq=/ff/story/0002/20041011/1604685937.htm&photoid=20041008TOK65D

UN: Iraqi Nuclear-Related Materials Have Vanished

By Irwin Arieff

UNITED NATIONS (Reuters) - Equipment and materials that could be used to make nuclear weapons are disappearing from Iraq but neither Baghdad nor Washington appears to have noticed, the U.N. nuclear watchdog agency reported on Monday.

-snip-

The United States barred the inspectors' return after the war, preventing the IAEA from keeping tabs on the equipment and materials up to the present day.

Under anti-proliferation agreements, the U.S. occupation authorities who administered Iraq until June, and then the Iraqi interim government that took power at the end of June, would have to inform the IAEA if they moved or exported any of that material or equipment.

But no such reports have been received since the invasion, officials of the watchdog agency said.
The United States also has not publicly commented on earlier U.N. inspectors' reports disclosing the dismantling of a range of key weapons-making sites, raising the question of whether it was unable to monitor the sites.

[Chiyo-chichi]

15. It wouldn't stick to the tape.

Of course it has. They don't even want to talk about the fact that they're planning to air Stolen Honor.

[LuminousX]

16. Who wants to gather $$ and buy out Sinclair?

That would be a large 'in' and then get Air America to produce a few Television spots for syndication... I can see it now.

[Contrary1]

17. Yahoo!!!

BEST BUY SAYS BYE BYE TO SINCLAIR
by: neo_conned (31/M/America) 10/12/04 12:00 pm
Msg: 2165 of 2166

IS THAT GOOD NEWS FOR THIS STOCK OR WHAT?

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7083976&tid=sbgi&sid=7083976&mid=2165

APPLEBEES JUST PULLED THE PLUG
by: raider491 10/12/04 11:48 am
Msg: 2147 of 2174

$5.50 BY TOMORROW.

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7083976&tid=sbgi&sid=7083976&mid=2147

***edited for another happy dance :hi:

[Steelangel]

18. $5.50 by tomorrow? *ouch*

Hell, they deserve it