Joining the Chicago Tribune, Providence Journal, Newark Star-Ledger, Newsday and others, the Denver Post announced in today’s paper that it was cutting its stock listings. Unlike some other papers, it appears that the Post is cutting stock listings altogether and won’t provide them in a truncated form in the paper. This is the first newspaper to cut all stock listings.
Here is part of its announcement: “Beginning Tuesday, The Denver Post is changing the way it provides stock listings. They will no longer be published in the Business section. They are available 24 hours a day at The Denver Post website, www.denverpost.com/business, where you also can create a personalized “portfolio manager” to track stocks – at no charge.
“In addition, readers may call a toll-free number, 1-800-555-8355, to get quotes for any stock on a 15-minute delayed basis.”
The Post said it would continue to publish mutual fund listings and publish a stock market story Tuesday through Saturday.
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There is an important factor that has been left out of the consideration, I fear, in the new wave of beancounters looking to eliminate the stock pages in our metro daily sections: Yes, more people are looking for quotes online. BUT NOT WITH US. There's been a fair amount of research on this, including from AP, which last year unveiled a study showing the number of readers who get their quotes through a local newspaper web site was so small as to not even register. I have not seen a shred of evidence to support the supposition/dogma that readers will look them up on your web site if you stop providing them in the paper. They'll go to Yahoo, AOL, MSN - anywhere but your shop. And that invites some of our most ardent business readers to ignore us for everything else. Yes, only 26,28, maybe 30 percent of our readers still look to us for markets information. But those are some of the best (and often angriest) 26, 28, 30 percent we have. Why on earth are we coming up with strategies to drive away our most loyal readers? Does somebody compute the business sense in that?
I have followed the instructions from the business section of the "Denver Post" in order to track my stocks, however, it has been impossible to find the section to register to "create a personalized portfolio manager". You have not made it user friendly to get registered or even to find the day's stock market quotes. Yikes--I'm frustrated with the new system.