Friday, December 30, 2011

Morning Brief: Sears identifies 79 stores to be closed; Sam Logan, publisher of the Michigan Chronicle, is dead at 78; Apple rumors fuel the dog days around the holidays

Earlier this week Sears Holdings said it would close between 100 and 120 Sears and Kmart stores. It publicly identified 79 of those stores on Thursday (list of the stores here in PDF form).

At the same time, ratings agency Fitch downgraded Sears to "CCC" from "B", according to a Reuters report. On Wednesday, Standard & Poor's placed the beleaguered, company's credit rating on review for a possible downgrade.

The AP is reporting the death of Samuel Logan Jr., the publisher of the African-American newspaper the Michigan Chronicle at the age of 78. (Photo of Logan courtesy of the Michigan Chronicle.)

"Sam Logan was more than a Detroit icon, he was a respected pioneer in black journalism who championed the need for coverage of a community not totally served by the mainstream media," Detroit Mayor Dave Bing said.

According to the story in the Detroit Free Press, Logan was born in "Colquit, La., to a family of sharecroppers, Mr. Logan picked cotton as a youth and came to Detroit at 14 with his mother and brother." Logan joined the Chronicle in 1961 after serving in the Army as a paratrooper. Logan worked in the advertising, production and marketing departments before being named publisher inthe mid-'80s.

2011 is ending as it began, with tech and other sites talking about future tablets that will beat out the iPad, and Apple's supposed plans to build a smaller tablet.

Often the same sites that start the rumors are the first to dismiss them, thus being able to be right (as well as wrong).

Time Magazine's Jared Newman gets the editor's curse of a provocative headline – Looking Forward to 2012: Credible iPad Threats – though his column concludes that "the iPad isn’t in any serious trouble next year.

As for the recurring rumors that Apple will introduce a 7-inch tablet, well, that old song is getting old. I suppose it is possible, just like the Apple television set rumors, but with Apple one thing is sure, you won't hear anything directly from the company until they are ready to launch. (I am also think that any rumor that isn't accompanied by leaked photos can be pretty much dismissed out of hand.)

1 Comment:

Shelly Hammerson said...

That's unfortunate news for closing stores and for Sir Sam Logan. It's a grief to lose brilliant blessings from the business. Thank you for updating us.