On Thu, 17 Jun 2004 04:53:40 GMT, "John De Gennaro"
<rhadts1@[EMAIL PROTECTED]
> wrote:
The only way the politicians are going to do their job and protect the
American people is for us to make them think they might loose their
job. The best way to do this is to get enough people complaining about
what they are doing or not doing. The Federation for American
Immigration Reform is trying to do this by making it easier for people
to communicate with their congressman.
Sign up on the FAIR e-list and be kept up to informed on the
progress of immigration reform legislation.
www.fairus.org
>
>NEW YORK Hollinger International shares fell as much as 10 percent
Wednesday
>after the newspaper publisher said that it had overstated circulation at
the
>Chicago Sun-Times for years.
>.
>Hollinger International discovered the overstatement after increasing the
>newspaper's cover price on April 1, the company, based in Chicago, said
late
>Tuesday. Hollinger did not elaborate on the circulation figures, which
>newspapers use to set advertising rates, and said it had stopped the
>practices that led to the errors.
>.
>Hollinger International shares were down $1.90, or 10.6 percent, at
$15.97
>in afternoon trading on the New York Stock Exchange. Shares had risen 14
>percent this year.
>.
>The company already is suing its former chairman and chief executive,
Conrad
>Black, his wife and three associates to recover more than $380 million
that
>it claims they helped misappropriate in part by doctoring the company's
>books.
>.
>Black continues to maintain a controlling stake in Hollinger
International.
>.
>Hollinger Inc., the Toronto-based company that Black uses to control
>Hollinger International, said Wednesday that its executives had had no
>knowledge of any circulation practices "outside industry norms" that
would
>"justify a press release at this time." It also said that the executives
had
>advised Hollinger International against the increase in cover price.
>.
>"Hollinger Inc. executives have favored reducing subsidized circulation
and
>did advise Hollinger International against the recent cover price
increase,"
>Black's company said. "The circulation of the Sun-Times is now suffering
>from that price increase."
>.
>Hollinger Inc., meanwhile, said that it would delay filing its 2003
annual
>re****t. The company, which is embroiled in a tangled series of legal
>battles, said the inability to complete its financial statements
according
>to schedule was the result of a lack of information and cooperation from
>Hollinger International.
>.
>Hollinger Inc. added that it could take "further steps as it deems
necessary
>or appropriate" to force Hollinger International's compliance. The
company
>added that it planned to release alternative financial statements within
the
>next several weeks but that if it could not file its annual re****t by
June
>30, it might default on some debt.
>.
>Hollinger Inc. owns 30 percent of the equity and 72 percent of the voting
>control of Hollinger International. Black, a member of Britain's House of
>Lords, resigned as Hollinger International chief executive after a
special
>committee of the company's board uncovered payments to him that were
deemed
>improper. (Bloomberg, Reuters)
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