Sinclair Family Down $14 million

[roguevalley]

http://www.pnionline.com/dnblog/extra/archives/001067.html

Sinclair family: Down $14 mil
Another day, more fallout on the Sinclair Broadcast Group and its unprecedented plan to air a John Kerry-bashing documentary just days before the election.

Mitch Albom gets unsentimental in blasting the right-wingers who own 62 television stations across America. Leaders of a boycott of Sinclair advertisers claim there have been 50 pull-outs so far -- although it's impossible to confirm that.

But even if there's not a single pullout, the bad publicity is hitting the Smith family, which owns Sinclair, where it hurts the most, Family members who are owners and officers of Sinclair have collectively lost $13,969,498.50 in stock value since the anti-Kerry plan was first publicized.

David Smith (Chair/CEO): $5.2 million loss
J Duncan Smith (VP/Sec): $5 million loss
Robert Smith: (Director) $3.4 million loss
Frederick Smith(VP): $230K loss

The Sinclair stock has experienced a 5-day total loss of .80 a share -- or 10.2 percent of the company's value since Oct. 8, when news of Sinclair's plans to broadcast "Stolen Honor" first came out.

And Wall Street analysts are starting to take note of the carnage.

[deadparrot]

1. Good.

[Demonaut]

31. good? this is pocket change to the benefits the BFEE will give them

[deadparrot]

32. It's nice to know we've made a difference, even if they may not feel it.

If they're going to air it, at least they're aware that people are pissed off.

[Demonaut]

34. you're right, I've let my anger and fury cloud my sight

[Yo_Mama_Been_Loggin]

2. I know this sounds cruel but

I hope they take such a financial hit that they have to live out on the streets and suck dick for beer money.

[Dying Eagle]

11. lol Yo_Mama_Been_Loggin

[Shoeempress]

13. And that should be on thier good days.

[AlCzervik]

14. In a van down by the river!

[smirkymonkey]

28. You are being much too kind.

:evilgrin:

[juliagoolia]

3. keep the hammer down!!

GOOD.. does my little heart GOOD. They can take a personal hit. WE all are!!

[NVMojo]

4. Awesome! May they lose it all!

[EmperorHasNoClothes]

5. sweeeeeeeet.

Remember Randolph and Mortimer Duke from the movie, "Trading Places?"

'nuff said.

[Kanary]

6. I'm really, REALLY sorry to hear that.....

:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:

:toast: :toast: :toast: :toast: :toast: :toast: :toast: :toast: :toast: :toast:

:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:

:hi: Kanary :hi:

[glitch]

7. Ain't that a shame?

:evilgrin:

[Love Bug]

8. Do they think it's worth it?

You have to wonder--after all, these are Republicans and the only thing that means more to them than their ideology is their money.

Cry me a river! :nopity:

[madrchsod]

9. follow the money..it`s all about

the money. well the stock has been on watch before this happened now it will be rated above junk status. i love it when the asshole rich lose money,don`t you....

[aquart]

10. Yeah, but losses go away if people think the trouble's over.

These people need to lose their broadcasting license.

[necso]

12. Link.

http://www.investor.reuters.com/SellAlerts.aspx?ticker=SBGI&target=sellalerts%2fsummary

Risk is still at medium, but three "Fails".

[Cat Atomic]

15. It'll be interesting to see if they lose more money when Kerry wins.

I wonder if people will be speculating on a little payback.

[wildeyed]

16. Sounds like they may have made a bigger donation to */C 2004

than they had anticipated.

Hit them in the money. The only thing people like this can understand.

[SoCalDem]

17. It's worth it in the long run.. repubes think LONG TERM

With * back in for 4 years, they will be able to get more than that in FCC "goodies", and they know it..

They would have donated that much to his campaign anyway, if they could have:)

and they will figure out a way to deduct those losses from their taxes :(

[necso]

29. While looking

up some other data, guess what I found.

http://www.investor.reuters.com/IndustryCenter.aspx?industrypscode=BRDCST&target=industrycenter

Read some of those high risk names. (Clear Channel and XM Radio are among them.)

But this is what I wanted.

http://finance.yahoo.com/q/bs?s=SBGI

And think about: "Net Receivables", "Goodwill", "Negative Goodwill" and how all this effects the bottom line (literally).

[blm]

18. Well, RevMoon has probably promised to make up any losses. GOP thugs have

counted on Moon's money for over twenty years. Ollie North, Richard Viguerie, Jerry Falwell, Tim LaHaye, GHWBush, and his even nastier thug son. They all dip at that well whether they need a few hundred thousand or some millions to get by.

[Jose Diablo]

23. You know its very dangerous to

fly in South American airspace. Look at the airplanes that have been mistaken for drug runners lately.

Edit: My bad, misposted on wrong thread

[sonicx]

19. i hope the company crashes and burns

:grr:

[Jose Diablo]

20. Lets see how much the stock drops when the stockholders get

Wind the FCC is gonna pull their broadband permits. Then when Kerry gets in and replaces the FCC commissioner and DOES pull the licenses, it will be adios muchacho and via con dios muhtha.

[Digit]

21. Yep, I even stopped watching "Friends" cause it was on their channel

I won't even go over to LOOK to see what is airing on their channel.

[BUSHOUT]

22. HEY "WALL STREET ANALYSTS", IT AIN'T OVER YET!!!!!!!!!!

:puffpiece: This re-energizes me to send more emails and make more phone calls and get that lifetime ban list started someplace!!!

Either dailykos or the stop sinclair site need to get a lifetime ban list happening for advertisers who choose to support Sinclair in the days ahead of this illegal electioneering.

I think I'll suggest it!

[Eye and Monkey]

24. Well, how much did they get back in their TAX-CUTS???

They are probably still ahead of the game. Which means, from a certain perspective, that the Sinclair Family's loss has already been paid-off by the US taxpayer.

[Mz Pip]

25. Ooooo bummer.

:evilgrin:

MzPip
:dem:

[Vadem]

26. Hot Damn!!!! That is the best news I've heard all day!!! n/t

[Logansquare]

27. 5.2 million could have bought a lot of blow jobs... n/t

[txindy]

30. And it's not over, yet.

There's more fun to come! They may be betting we're not serious about boycotting their advertisers and programming. If so, they're in for a shock. Let's all sit back and watch the fun!

[PROGRESSIVE1]

33. Good. I hope sinclair goes under!!!