Shares of the Journal Register Co., owner of The Bristol Press, took another tumble today. They're now worth one-fifth of a penny per share. Or, put another way, you could own 500 shares for $1.
The total value of the entire company? Less than $79,000.
I keep thinking it can't get any lower, but then the value sinks yet again. Pretty soon, I'll be able to buy the whole contraption with the pennies in my old Mason jar.
And I can't help wondering: what's to stop someone from snapping up the entire JRC for the price of a Big Mac Extra Value Meal? Couldn't somebody do that and then say, "No, we ain't gonna close The Bristol Press. No how, no way."
Of course, the trouble with buying the JRC is that you would then own it. But still....
*******Copyright 2008. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com
5 comments:
The company is trading as if it is already in bankruptcy. You would not want to own this company as the business is worth less than all the debt it has on the books. Be like buying a house for 150k and holding a mortgage on that property for 200k.
Except the mortgage is more like $600 million.
Maybe they should hire Bernie Madoff to invest their remaining money...
Can't we put together 20 investors or something locally to buy the company for $ 79,000? We'll sort out the details later!
5:06pm - where is your 4000.00?
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