The Lincoln Journal Star announced 16 cuts today, eight of which were from the newsroom. The story puts much of the blame on the rising cost of newsprint but fails to address whether or not any cutbacks were ordered from above.

Last week, LJS owners Lee Enterprises announced their Q3 profits fell more than 87 percent since the same quarter last year. The company had already been forced to revise its 2008 Q2 losses, acknowledging that losses originally reported as $4.5 million were actually $716.4 million.

Lee’s value has dropped 93 percent since late 2004, when it was valued around $2 billion. Lee was trading in the $45-50 range in November and December 2004; the stock price has bounced back above $3 after dipping in the $2 range last week, putting the company’s value around $145 million.

UPDATE: “Mary E. Junck [CEO] of Lee Enterprises (LEE) pocketed a 17.8% increase to earn a bit less than $3.4 million as her company’s stock skidded 52.3%.” – newsosaur

In today’s column, Don Walton at the Lincoln Journal Star comments on the comparisons between Obama and Hitler printed in the Midlands Business Journal.

A stunning editorial in the Midlands Business Journal this month comparing Obama to Adolf Hitler: “While Obama is not Hitler, still there are similarities,” publisher Bob Hoig wrote. “I was startled to realize the increasing use of Nazi Party techniques by the Barack Obama campaign,” he wrote. Geez.

From the article’s comments:

There seems to be a weekly contest to see who can speak or print the most racially repressed comment about Sen. Obama. It appears Bob Hoig and the Midwest Racist Business Journal are this week’s winner. Congratulations on losing your credibility!

and

…Hoig’s editorial is a blatant example of fear-mongering, distortion, smears, and misdirection; in other words, a textbook example of a political tactic often employed by those on the right (especially by the disciples of Karl Rove). One can easily see how intellectually bankrupt and shameless those on the right who would use these tactics have become, and how desparate and jealous they are…

You can read more about these columns here and here.