The Recession's Here. Over There Too.
First, the good news this a.m.: Gas prices around the DFW are drop, drop, dropping -- in some areas down to $2.25 a gallon, well below last year's $2.70 and the current local average of $2.57. The bad news? Stock prices are drop, drop, dropping worldwide -- it ain't looking good this morning. As my father said this morning, "People can afford to drive around and not buy anything."
And, this morning, A.H. Belo employees and stockholders were greeted by a missive from Robert Decherd, who announced, among other things, a wage freeze effective November 1, as well as a new credit agreement that will cost the company more but allow for extra wiggle room during these difficult days ahead. The good news: There's always Briefing: "Initial results from both audiences and advertisers are promising." What sounds awesome right now? A bummer-free zone.--Robert Wilonsky