Who's money? The newspaper.
Maybe it's the fact that they're paying employees less
. Or maybe it's that they're no longer providing benefits to retirees
Whatever the case, Lee Enterprises
(the parent company of the Post-Dispatch
) managed to squeak out a profit for the three months ending March 28. According to the St. Louis Business Journal
, Lee reported an adjusted profit of $1.9 million during its second quarter of fiscal 2010. That's compared to an adjusted loss of $2.9 million for the same period in 2009.
Still the company's stock remains in the toilet. Lee traded at more than $40 per share after its acquisition of the Post-Dispatch back in 2005. Today the stock can be picked up for less than $5.