1. I wonder if people will follow bloggers and community journalism websites more? interesting times for sure.

  2. Here you have highlighted the problem with “social networking” and information.
    1. Landeryou is a blogger. Because he was caught out with some dodgy financial stuff he is no fan of The Age or of Fairfax. Is he the right guy to rely on, as you have?
    2. Landeryou talks about debt and covenants (not the same thing as default, since their breach only triggers re-pricing). Fairfax reported net cash for the December-ended six months of more than $200million. It has nil debt to cover until late 2011, some of which is convertible to equity anyhow.
    3. Fairfax merged with Rural Press and bought Trade Me. Neither of those looks at all like a dud. It is arguable that the purchase of Southern Cross radio (and the lovely Neil Mitchell on Melbourne 3AW) was a turkey. Generally, it’s a big mistake to say that it’s going to sink with online classifieds.
    4. Last weeks’s equity raising appears to have been very well received. That is, they have no trouble raising $500million. In this market.
    Landeryou was probably making it up for fun. Or he’s a liar. Or maybe just a dumb crook?

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