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JP Morgan_Our next big media player?

J.P. Morgan Chase Is USA Today Publisher's Biggest Shareholder

http://www.mediabistro.com/fishbowlny/newspapers/jp_morgan_chase_is...

By Mike Taylor on May 12, 2010 10:16 AM

We know many of the biggest names in newspaper publishing -- James Dolan,Carlos Slim, Arthur Sulzberger, Rupert Murdoch -- but the name of long-deceased bazillionaire railroad tycoon J.P. Morganrarely enters the conversation. This is a grave omission; his namesake bank is thelargest shareholder in one of the nation's most-read dailies by some counts and the second-largest investor in U.S. newspaper publishing, period.

J.P. Morgan Chase has disclosed in a filing with the SEC that it has invested in 24.3 million shares of USA Today publisherGannett for a roughly 10% stake in the company. Says The Associated Press:

And JPMorgan didn't make the investment with its own money; it bought the stock through investment arms that manage money for other institutions and individuals.

Bankruptcies at several major newspaper publishers have left J.P. Morgan Chase with equity positions in several other such companies. It owns shares in The Orange County Register, for example. Although the investments have come in part from dismal performances by newspaper companies, perhaps the bank has reason to be optimistic. Its analysts have recently upgraded performance forecasts for E. W. Scripps and made rosy predictions for the newspaper industry as a whole.

JPMorgan now top Gannett owner with 10.2 pct stake

http://www.businessweek.com/ap/financialnews/D9FKTV1G0.htm

By MICHAEL LIEDTKE SAN FRANCISCO

JPMorgan Chase & Co. is boosting its bet that better days are ahead for the slumping newspaper industry. It reported Tuesday that it now owns a 10.2 percent stake in USA Today publisher Gannett Co., making it the company's largest shareholder.

JPMorgan disclosed in a Securities and Exchange Commission filing that it owned 24.3 million Gannett shares as of April 30, up from 7.4 million shares at the beginning of the year. It used a form that signals the investment is a passive one, not a prelude to a takeover attempt.

And JPMorgan didn't make the investment with its own money; it bought the stock through investment arms that manage money for other institutions and individuals.

Publishers across the United States have been hard hit by a steep decline in print advertising that has eroded their main source of revenue during the past three years. That has led to more than a dozen bankruptcy filings by newspaper companies over the past 18 months and sagging stock prices for those avoiding that fate.

Gannett shares rose 54 cents, or 3.4 percent, to $16.58 on Tuesday. That values the JPMorgan holdings at $404 million.

Gannett shares plunged to as low as $1.85 last year. Although the stock has rebounded during the past 14 months, it remains well below its levels five years ago when it was trading above $75.

JPMorgan has acquired a more direct interest in newspapers through the recent wave of bankruptcy reorganizations. To give newspapers more breathing room, JPMorgan and other creditors have been forgiving outstanding debts in exchange for ownership stakes in several newspaper companies.

The swaps have left JPMorgan as a part-owner of The Orange County Register in southern California, the New Haven Register in Connecticut and dozens of other daily newspapers.

JPMorgan also could become a co-owner of the Tribune Co., publisher of the Los Angeles Times and the Chicago Tribune, if a proposed bankruptcy reorganization plan gains court approval.

The bank so far hasn't said much publicly about its plans for the newspapers that it acquired through bankruptcy restructurings.

JPMorgan didn't spell how much Gannett stock its investment arms own or how much they paid for the shares acquired since the first of the year.

The filing also gave no indication that JPMorgan is unhappy with Gannett's current management or that it will seek a seat on the company's board. Gannett spokeswoman Robin Pence said JPMorgan is currently a passive investor in the company. She declined further comment.

If JPMorgan's investment managers believe the worst is over for newspapers, then it makes sense to invest in the largest such publisher in the United States, Benchmark Co. analyst Edward Atorino said.

Besides USA Today, Gannett owns more than 80 other daily newspapers scattered across the country. Although they aren't as well known as USA Today, Atorino said, many of the smaller dailies are their communities' best sources for local news and remain attractive advertising vehicles even as less expensive Internet alternatives divert marketing dollars from print.

Since the end of 2006, Gannett's annual publishing revenue has plunged by $2.5 billion, or nearly 40 percent, to $4.1 billion last year. The company has remained profitable mainly by cutting costs through layoffs, hiring freezes, furloughs and other austerity measures.

Gannett raised hopes for a turnaround as the decline in its ad revenue decelerated to about 8 percent during the first three months of the year. That was better than the 18 percent drop during the final three months of 2009 compared with the same period a year earlier.

Other opportunistic investors also have been wagering on a newspaper comeback. Angelo, Gordon & Co. and Alden Global Capital, two firms that invest in troubled businesses, have also become co-owners of newspapers that have gone through bankruptcy reorganizations.

JP Morgan: Our next big media player?

http://www.newsandtech.com/dougs_page/article_f3a45be0-4717-11df-aa...

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Permalink Reply by stopGOVTwaste on June 14, 2010 at 10:01pm

CEO Dubow earned $4.7 million last year; includes $1.5M bonus after he ordered mass layoffs

http://gannettblog.blogspot.com/2010/03/bulletin-ceo-dubow-earned-4...

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Permalink Reply by stopGOVTwaste on June 15, 2010 at 8:57pm

Gannett stations go hyperlocal
WASHINGTON BUSINESS JOURNAL

http://www.bizjournals.com/washington/stories/2010/06/14/daily21.html

McLean-based Gannett Co. Inc will start hyperlocal online news coverage in 10 of its TV markets, including Washington, and solicit coverage of neighborhood news from readers.
Gannett owns WUSA-TV, Channel 9, the local CBS affiliate.
The company will also launch the new local sites as part of its television station websites in Atlanta; Tampa, Fla.; Sacramento, Calif.; Grand Rapids, Mich.; Jacksonville, Fla.; Buffalo, N.Y.: Little Rock, Ark.; Portland, Maine; and Macon, Ga.
Gannett calls them “community websites,” and says they will include user-generated content about neighborhood happenings and events. Gannett believes the sites will appeal to advertisers, who will be able to more precisely target potential customers.
Gannett (NYSE: GCI), which owns two dozen television stations, reported a 51 percent jump in quarterly earnings, with net income of $117.2 million. Revenue at its broadcasting operations rose 17 percent, helping to offset a 7.9 percent decline in revenue at the company's publishing division.

jclabaugh@bizjournals.com

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Permalink Reply by stopGOVTwaste on July 22, 2010 at 12:35pm

are "short sales" really to blame for this?

http://watchlist.flatoday.net/2010/07/uh-oh-brevard-tax-base-to-plu...

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Permalink Reply by stopGOVTwaste on July 23, 2010 at 7:41am

Bear Stearns MBS Litigation
http://www.cmht.com/cases/208/bear-stearns-mbs-litigation

The lawsuit is brought on behalf of purchasers of Mortgage Pass-Through Certificates issued by Structured Asset Mortgage Investments II, Inc. (“SAMI”) and/or Bear Stearns Asset-Backed Securities I LLC (“BSABSI”) (the “Certificates”) pursuant and/or traceable to false and misleading Registration Statements and Prospectus Supplements issued between March 2006 and September 2007 (collectively, the “Registration Statements”).

The defendants named in the lawsuit include SAMI, BSABSI, certain of their officers and directors, Bear Stearns Cos., Inc. (“BSC”), J.P. Morgan Chase, Inc. (“JPM”) as successor in interest to BSC, the Underwriter of the Certificates Bear Stearns & Co., Inc., the Issuers of the Certificates and the Ratings Agencies who rated the Certificates.

The putative class includes purchasers of Certificates issued by the following trusts (the “Issuers”):

Bear Stearns Asset Backed Securities, Series 2006-HE5
Bear Stearns Asset Backed Securities, Series 2007-AC2
Bear Stearns Mortgage Funding, Series 2006-AR2
Bear Stearns Asset Backed Securities, Series 2006-AC4
Bear Stearns Asset Backed Securities, Series 2007-AQ2
Structured Asset Mortgage Investments II, Series 2006-AR8
Bear Stearns Mortgage Funding, Series 2006-AC1
Bear Stearns Asset Backed Securities, Series 2007-FS1
Bear Stearns Mortgage Funding, Series 2006-AR3
Bear Stearns Mortgage Funding, Series 2006-SL1
Bear Stearns Asset Backed Securities, Series 2007-HE2
Bear Stearns Mortgage Funding, Series 2006-AR4
Bear Stearns Mortgage Funding, Series 2006-SL2
Bear Stearns Mortgage Funding, Series 2007-SL2
Bear Stearns Mortgage Funding, Series 2006-AR5
Bear Stearns Mortgage Funding, Series 2006-SL3
Bear Stearns Asset Backed Securities, Series 2007-AC3
Bear Stearns Mortgage Funding, Series 2007-AR1
Bear Stearns Mortgage Funding, Series 2006-SL4
Bear Stearns Asset Backed Securities, Series 2007-HE3
Structured Asset Mortgage Investments II, Series 2007-AR1
Bear Stearns Asset Backed Securities, Series 2006-AC5
Bear Stearns Asset Backed Securities, Series 2007-HE4
Structured Asset Mortgage Investments II, Series 2007-AR2
Bear Stearns Asset Backed Securities, Series 2006-AQ1
Bear Stearns Asset Backed Securities, Series 2007-AC4
Bear Stearns Mortgage Funding, Series 2007-AR3
Bear Stearns Asset Backed Securities, Series 2006-HE9
Bear Stearns Asset Backed Securities, Series 2007-HE5
Bear Stearns Alt-A Trust, Series 2006-5
Bear Stearns Mortgage Funding, Series 2006-SL5
Bear Stearns Asset Backed Securities, Series 2007-AC5
Bear Stearns Alt-A Trust, Series 2006-6
Bear Stearns Asset Backed Securities, Series 2006-HE10
Bear Stearns Asset Backed Securities, Series 2007-HE6
Bear Stearns Alt-A Trust, Series 2006-7
Bear Stearns Mortgage Funding, Series 2006-SL6
Bear Stearns Asset Backed Securities, Series 2007-AC6
Bear Stearns Alt-A Trust, Series 2006-8
Bear Stearns Mortgage Funding, Series 2007-SL1
Structured Asset Mortgage Investments II, Series 2006-AR5
Bear Stearns Alt-A Trust, Series 2007-1
Bear Stearns Asset Backed Securities, Series 2007-AQ1
Structured Asset Mortgage Investments II, Series 2006-AR4
Bear Stearns ARM Trust, Series 2006-4
Bear Stearns Asset Backed Securities, Series 2007-AC1
Bear Stearns Mortgage Funding, Series 2006-AR1
Bear Stearns ARM Trust, Series 2007-1
Bear Stearns Asset Backed Securities, Series 2007-HE1
Structured Asset Mortgage Investments II, Series 2006-AR6
Bear Stearns ARM Trust, Series 2007-3

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Permalink Reply by stopGOVTwaste on July 23, 2010 at 7:46am

Class Action Suit re: Wells & JPM
http://livinglies.wordpress.com/2010/07/19/class-action-suit-involv...

Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/jpmorgan/) today that a class action lawsuit is pending on behalf of purchasers of Mortgage Pass-Through Certificates and Asset-Backed Pass-Through Certificates (“Certificates”) of J.P. Morgan Acceptance Corporation I (“JP Morgan Acceptance” or the “Depositor”) pursuant and/or traceable to false and misleading Registration Statements and Prospectus Supplements issued between January 2006 and March 2007 by JP Morgan Acceptance (collectively, the “Registration Statements”). The class includes purchasers of Certificates in the following trusts:

J.P. Morgan Alternative Loan Trust 2006-A1
J.P. Morgan Alternative Loan Trust 2006-A7
J.P. Morgan Alternative Loan Trust 2006-A2
J.P. Morgan Alternative Loan Trust 2006-S1
J.P. Morgan Alternative Loan Trust 2006-A3
J.P. Morgan Alternative Loan Trust 2006-S2
J.P. Morgan Alternative Loan Trust 2006-A4
J.P. Morgan Alternative Loan Trust 2006-S3
J.P. Morgan Alternative Loan Trust 2006-A5
J.P. Morgan Alternative Loan Trust 2006-S4
J.P. Morgan Alternative Loan Trust 2006-A6
J.P. Morgan Mortgage Acquisition Trust 2006-A3
J.P. Morgan Mortgage Acquisition Trust 2006-A4
J.P. Morgan Mortgage Acquisition Trust 2006-A5
J.P. Morgan Mortgage Acquisition Trust 2006-A6
J.P. Morgan Mortgage Acquisition Trust 2006-A7
J.P. Morgan Mortgage Acquisition Trust 2006-ACC1
J.P. Morgan Mortgage Acquisition Trust 2006-CH2
J.P. Morgan Mortgage Acquisition Trust 2006-HE2
J.P. Morgan Mortgage Acquisition Trust 2006-HE3
J.P. Morgan Mortgage Acquisition Trust 2006-NC1
J.P. Morgan Mortgage Acquisition Trust 2006-RM1
J.P. Morgan Mortgage Acquisition Trust 2006-S2
J.P. Morgan Mortgage Acquisition Trust 2006-WF1
J.P. Morgan Mortgage Acquisition Trust 2006-WMC2
J.P. Morgan Mortgage Acquisition Trust 2006-WMC3
J.P. Morgan Mortgage Acquisition Trust 2006-WMC4
J.P. Morgan Mortgage Acquisition Trust 2007-A1
J.P. Morgan Mortgage Acquisition Trust 2007-A2
J.P. Morgan Mortgage Acquisition Trust 2007-CH1
J.P. Morgan Mortgage Acquisition Trust 2007-CH2
J.P. Morgan Mortgage Acquisition Trust 2007-S1

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Permalink Reply by stopGOVTwaste on September 24, 2010 at 1:54pm

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Permalink Reply by Goldstine on September 24, 2010 at 5:56pm

I am praying and crying it to happen to Almighty G-D. I want to see their fall. I have never seen a deceptive and fraudlent bank like Chase. Please help to the people of South and North Californians who are victims of these monster. G-D Bless.

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Permalink Reply by stopGOVTwaste on July 14, 2011 at 6:51pm

Ever heard of “Hall Carbine” affair (its chalked up to ‘folklore’) where JP purchased defective armaments and sold them back to the US Govt as working pieces. Yeah, ain’t nothing new… if there’s a scam involved, they got it on lock! See here:

http://www.scribd.com/doc/55272340/JPMorgan-s-907-Million-Dollar-Ma...

No wonder, if it’s generating bonds you need JP just creates em’ out of thin air… not to mention the transfer of the asset is nowhere to be found. Hypothecated pools of nothingness.

IRS – where ya’ at??