Thursday, October 1, 2009

Looking back on FY09

On the first day of the new fiscal year, let's take a look back at the previous one.

The stock price on Oct. 1, 2008, was $3.36. After hitting a new low of 28 cents on Feb. 10 and 17 and March 11, 13 and 31, shares closed Wednesday at $3.03.

At least 515 employees were laid off at Lee papers. Layoffs seemed most common at the end of each quarter. The Times in Munster, Ind., has already said three employees will take buyouts in the new fiscal year, and The Sentinel in Hanford, Calif., said employees will be laid off.

At least nine Lee papers required employees to take unpaid time off. Furloughs have already been announced for the first quarter of the new fiscal year at The Times in Munster, Ind.

Good luck in the new year.

No comments: