Folks, it's time to celebrate. Sinclair is paying out the ass for its decision to run a $5 million hit job on Kerry.
Stocks tanked 8% in massive trading yesterday. The Smith family themselves -- the inbred wingnut owners who control 30M shares -- alone lost $15 million out of their own portfolios.
That's $15 million that won't go to RNC contributions, buying out local stations, and running more right-wing propaganda.
Today isn't looking much better. The INET premarket has three big sell orders booked for this morning. Investors are running as fast as they can from this turkey.
We've inflicted serious economic damage on Sinclair. The damage will bring new scrutiny to their disasterous debt structure and stagnant market performance. More analyst warnings and mass sell-offs are on the horizon.
We've helped create a little crack in the radical right/free market conservative alliance, always shaky.
And we've shown that you really shouldn't f*ck with progressives, because we WILL make you pay. Cause the truth and people power are on our side.
PS -- Fugitive is right. The Yahoo Sinclair trading board is hillarious and a good way to waste some time. Watch the wingnuts lose millions of dollars in real time!
http://messages.yahoo.com/?action=q&board=SBGI
UPDATE: Pre-lunch sell-off hits! This stock is going DOWN! As you watch the graf, remember that each penny drop = about $550K loss for Sinclair wingnuts.
UPDATE 2: SBGI stock dropped a healthy 10 cents this morning. Sinclair owners -- the Smith "We Love Hookers" exec team -- lost a cool $5.5 million. All before lunch! More fun ahead ...
UPDATE 3: Two big shareholder actions announced today. One from our friends at Media Matters, the other from Bill Lerach, a sleezy-but-effective securities attorney of Enron fame. Not good at all for the SBGI fellas. Here are links to DKos diaries on the actions:
http://www.dailykos.com/story/2004/10/19/123832/92
http://www.dailykos.com/story/2004/10/19/114841/59
UPDATE 4: Jitters over shareholder actions + libel suit + ad boycott = bad day for Sinclair. Post-lunch selling heavy. Don't forget to contact institutional investors and tell them to SELL, SELL, SELL!
http://www.dailykos.com/story/2004/10/11/18560/484
UPDATE 5: 2:30pm "Sinclair shares continue to decline." Ouch!
http://tinyurl.com/65l8a
UPDATE 6: Sinclair stock closes at 3.54% decline Tuesday in heavy trading. Now at $6.26/share. "We Love Hookers" executives lost some $12.6 million out of their personal portfolios today. Should be able to drive this puppy into the $5/share tomorrow :)