-Caveat Lector- http://www.nydailynews.com/business/story/31470p-29837c.html
New York Daily News - http://www.nydailynews.com WSJ slump lowers Dow Jones credit By PAUL D. COLFORD DAILY NEWS BUSINESS WRITER Thursday, October 31st, 2002 Media company Dow Jones, already stung by sharp drops in advertising at The Wall Street Journal and looming job cuts, was further humbled yesterday when Standard & Poor's lowered its credit rating. S&P cut its long-term rating from AA- to A+, its fifth-highest and still investment grade. S&P analyst Donald Wong said The Journal has suffered worse deterioration in ad revenue and cash flow than other newspaper publishers in the past two years "due to the challenging economic conditions and the dependence on financial and technology advertising." S&P "expects that the weak operating climate will continue for The Journal, at least in the near term," Wong added. Dow Jones reported quarterly profits of $2.4 million, down from $16.7 million a year ago. Meanwhile, as staffers waited to learn the extent of layoffs predicted by CEO Peter Kann, around 60 represented by the Independent Association of Publishers' Employees have told the union they would consider accepting a buyout. Dow Jones has cut more than 1,000 jobs the past two years while adding consumer-friendly content to The Journal, such as the Personal Journal section, partly to broaden the ad base of the 1.8 million-circulation paper. The company said S&P's downgrade was "not a surprising outcome considering the current business environment. This reduction places Dow Jones' credit rating at the same level as those of The Washington Post and The New York Times." <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http://archive.jab.org/ctrl@;listserv.aol.com/ <A HREF="http://archive.jab.org/ctrl@;listserv.aol.com/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
