Sunday, August 13, 2006

Sounds Good to DMG

Driven in part by a larger library of music available for sale, Sacramento-based Digital Music Group Inc. racked up second-quarter revenue of $840,000, more than 15 times the revenue it posted in the year-earlier period.

Even considering the second-quarter 2005 revenue of all three businesses that were combined early this year when Digital Music Group went public, revenue still rose nearly sevenfold, from $123,000.

Shares (Nasdaq: DMGI) closed at $5.80 Thursday, up 70 cents over Wednesday's closing price. The quarterly results were released after the market closed.


Maybe they can bail out the ailing Tower?

Founded in 1960 by Russ Solomon, Tower began losing customers in the late 1990s to discounters, Amazon and digital downloading, both legal and illegal.

"I'd hate to see Tower close," said Janette Fullerton, 45, of Sacramento as she shopped at the Broadway Tower on Friday. "I've been coming here for years; it's an institution."


Should somebody with the money and clout to make it happen decide to save Tower it would be a tremendous asset to this region to have a nationally known and respected retailer stay in business.

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