Mpls. Star-Tribune sold off at a loss

McClatchy Newspapers, which bought the Star-Tribune in Minneapolis/St. Paul in 1998 for $1.2 billion, is sellng it off for $530 million.  That’s 44 cents on the dollar.

That’s what we normal people call a “loss.”  I’d fire a financial advisor who got me into an investment that lost 66% of its value in eight years.  Wouldn’t you?

Fortunately (note the irony), McClatchy still owns my home town Kansas City Star.  Oh, joy.