Hello Team,

Knight Ridder warned that its full-year earnings were likely to fall short of its expectations, citing a prolonged downturn in the advertising market that hurt October sales.   E.W. Scripps Co.  publisher of the Denver Rocky Mountain News, has also warned of lower earnings.  Gannett Co.  announced that October pro forma advertising revenues fell 8%, including a 31% drop in help wanted ads.  None of this comes as a surprise amidst a weak ad market and a sluggish economy.
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According to the Fed, the U.S. industrial output last month took its biggest dive in nearly 20 years and extended a string of monthly declines that was the longest since the Great Depression of the 1930s.  The output for the nation's factories, mines and utilities fell 1.1% in October, the biggest decrease since it plunged 1.6 % in January 1982.   The portion of production capacity put to use by industries in October slid to 74.8% , the lowest since June 1983, from 75.7% in September.  No good news here...
Ayesha