Monday, March 23, 2009

Porn Abandoning Office Space in New York is Clear Sign of the Times; POTC likes SRS April $80 Call Options

NEW YORK (AFP) -- Focusing on boardroom, not bedroom needs, famed men's magazine Playboy is pulling out of its New York offices, a spokeswoman said Monday. "We are closing our New York offices to integrate our online and printed publishing," Martha Lindeman told AFP. She said that about 100 jobs were affected and that although some employees would transfer to offices in Chicago, or be given other options, the "majority" would leave the company. Only a "small editorial and sales presence" will remain in New York, where the racy magazine has leased 5th Avenue premises since the early 1990s. The move will take place May 1. Playboy Enterprises (PLA) explained in an earlier statement that it intends to "streamline operations across the company, which will include the elimination of additional positions and reduction of other expenses." New York is not the only place where Playboy founder Hugh Hefner is feeling blue. The Los Angeles Times reported this month that Hefner is selling his family home in California for nearly $28 million. Hefner's Playboy Mansion appears safe for now: the 83-year-old continues to live there with three models. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=opwgYsaCMSZ0RM8N0TznMw%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires March 23, 2009 15:40 ET (19:40 GMT) Copyright (c) 2009 Dow Jones & Company, Inc.- - 03 40 PM EDT 03-23-09

4 comments:

Anonymous said...

Hefner is a jerk. I owned these shares for years, no pops to be found. Understand your analysis never the less.

Anonymous said...

Excellent. I have read playboy for their business articles for years, hope they could sign some new girl that would improve their image. Maybe an American idol singer? Great blob site men!
Sean

Anonymous said...

Still recommending the SRS calls? What's wrong with you guys?

Anonymous said...

POTC recommends trading in and out of SRS $80 April calls as the S/P hiccups 1.5% or > intraday. We apologize for misleading into holding. SRS is a very effective trading vehicle, even though it reacts more when the market is rising. Nonetheless, we recommend trading SRS because of the short-term overbought market technicals as well as the underlying fundamental problems in commercial real estate.
POTC-