Well, Mary Berner had her day in the sun Thursday. The company wrote off $542.2 million in worthless investments – RDIO and Westwood One. The company’s total market capitalization is down to about $50 million. Turnover is 48%. Sales are down, cash flow is down. The land sales are stalled.
Mary asserts “she has seen worse”. Orly?
What, me worry?
Maybe she came from the coal industry or perhaps the Keystone Pipeline. That would be worse.
Stock is down 30% today, so far
The bloom is off the rose.