What do you get when you take a company in a dying industry, loot it, and leave it with piles of debt that its vanishing revenue stream (read: print advertising) can't cover? That, friends, would be Sun-Times Media (SVN).
Formerly Hollinger International, the company saw its coffers emptied by erstwhile crook/CEO Conrad Black, and was left with a portfolio of cash-burning newspapers and a mountain of payables. Now, as the company drifts towards the Sea of Imminent Doom, you can do some looting of your own--from the pockets of the suckers who still see hope.
Most recently, the stock was run up on rumors of a sale. At a much-anticipated presentation by management last week, the fantastic news was this: "We're not selling, our business sucks, and our plan is to start going out of business."
Body Count goes to Vegas! Ernest Scherer III was a Vegas loser who fancied himself a professional poker player. Doesn't that photo tell ...
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
Despite the awesome bull market this year, CalPERS again missed its return target, earning only 5.8% vs. its required 6.8%. CalPERS has mi...