RealMoney.com commentator Jim Cramersays that lack of financial acumen is burning newspapers:
All of these companies seem to be run, frankly, by jokers or dreamers who had no idea how to deploy capital.
These are diminishing assets. They don’t need to exist. Younger people rarely read them. And the companies acted like they would always be in demand and were simply misunderstood by Wall Street. Nope, Wall Street got it the whole time, except a couple of hedge and mutual funds that are trapped and trying to get managements to do something to bring out value.
No misunderstanding where he stands.