IMAG0140.jpg picture by raychell01 - Photobucket
Little update. The speaker wire that gave me the fluctuating readings went to this speaker. From the picture, you can see that they are rated at 4 ohms. So I decided to test this one right on the speaker itself and I got readings between 3 ohms and 6 ohms. So it seems that your theory of a blown speaker applies to my situation. I am going to try running the radio with this speaker disconnected.
Sorry for all the updating, just trying to keep you in the loop.