Saturday, February 14, 2009
Saturday | Feb. 14 | Your News & Comments
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52 comments:
Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
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Happy Valentine's day ____________ !
ReplyDeleteWhat is the Warn act?
ReplyDeleteA cheery valentines message from Richard Chartres, the Bishop of London in England, who says getting laid off from your job is good for you.
ReplyDelete"Sometimes, people seem to be relieved to get off the treadmill and to be given an opportunity to reconsider what they really want out of life. One of the great implications of this turbulence for us is to re-boot our sense of what a truly flourishing human life consists of. The 'CrackBerry' culture is dangerously addictive and switching off from it is notoriously difficult," he told the London Times.
So d'ya think maybe Gannett managers are doing God's work.
11:30: Basically, a 60 day notice for layoffs or closure.
ReplyDeleteMore details here: http://www.doleta.gov/programs/factsht/warn.htm
Happy Valentine's Day: To my Sweet Baboo, where would I be without you?
ReplyDeleteNo layoffs or furloughs til June? How are you so certain?
ReplyDeleteNo layoffs till June yeah right. Another ego crazy manager making a prediction. It's like Dumb and dumber
ReplyDeleteSpeaking of the blue ball, what about those dramatic floor tiles with inscriptions outside the 11th floor elevators leading up to it? How much did those cost?
ReplyDeleteNot all birth certificates are acceptable. Not even a federal tax return. They would not accept either one. I had to go out and buy another birth certificate because at the time I bought the first one my state did not record the parents name on them. But the tax return has our names on it. My question to them was if the birth certificate I originally had was acceptable to enter school and it was acceptable for the government to issue a passport how come it was not acceptable to them as proof. Were they higher than the government? No one could answer that. So now I have 2 birth certicates....
ReplyDeleteJust like every large company in the U.S. there will be layoffs every month. A few here or a few there, for products no longer produced or other redundency. I don't forsee a wall to wall layoff like last year, but Gannett would be crazy not to continue to tighten its belt in these times. The economy is getting worse by the day, and the so-called package the government passed will do little to stem that tide in the short run. So everything done will be reviewed.
ReplyDeleteSomeone mentioned in a post yesterday that the whole key is advertising. Once the economy picks up everything will be better etc. etc. I used to work in circulation and we knew that the key to keeping a subscriber was to not EVER let there paper lapse because the longer they went without a paper the less likely they would subscribe again. Well, I have been getting a paper since I was out of college (I am old), and I stopped getting a paper about a month ago for various reasons but mostly financial. I thought I would miss it more than I do. I have come to rely on the web for my news now and don't think I will ever subscribe to my local paper again, at best the Sunday Times will suffice. My point, I quess, is that I don't think your local newspaper is going to come out of this recession anywhere near the condition it was in previously. People are dropping their subscriptions like flys and I don't think they will come back.
ReplyDeleteReality finally hits former Gannett newspaper:
ReplyDelete'Muskogee Phoenix' Lays Off 9% of Staff
By E&P Staff
Published: February 13, 2009 1:31 PM ET
CHICAGO Publisher Larry Corvi says the economic downturn has finally reached into the Muskogee (Okla.) Phoenix's neck of the woods, forcing the layoffs of eight people -- about 9% of the entire staff.
The layoffs include three from the newsroom.
"We had hoped to avoid what has happened to other newspapers in the country, but we're seeing that Oklahoma is catching up with the national downturn in the economy," Corvi said in an article in Friday's Phoenix. "With the economy the way it is, we had to make a tough call."
Corvi said that the paper in northeastern Oklahoma still has "largest news gathering organization east of Tulsa, and I see us continuing in that vein for the future."
A friend also notified me that two past Pulitzer winners were let go at the Chicago Tribune yesterday, too.
Come on Stimulus!
Jim:
ReplyDeleteEven though your blog does do a great service by allowing info (wether it's accurate/true or not) to flow,so employees can be alot more informed then corporate wants.
I am starting to feel that the great amount of negativity on here is affecting the stock,which is hurting what's left of the worker bee's.
So it would be nice to see some silver lining is this Gray Cloud.
It can't be all bad ?????
Happy Valentine's day to all the
ReplyDeleteAPP Hotties
Are crackberries related to dingleberries?
ReplyDeleteA year ago, GCI was a corporation valued at $18 billion. Today it is worth a paltry $900 million. Those apparachiks who brought this about work in the Crystal Towers each day, and it is they who need to bear the consequences of this. The layoffs and buyouts this time need to come in the corporate offices and thin out the vice presidents who designed and manufactured this failure.
ReplyDeleteObviously, the Bishop of London does not need to worry about where his next mortgage or car payment is coming from; how he'll put food on the table; how he'll send his children to college; or whether he can save for retirement rather than burning the money on living expenses. With those caveats in mind, maybe he actually believes asinine statements like the one he made.
ReplyDeleteMy "Special Employer Contribution" landed in my 401(k) yesterday. I promptly moved it from Gannett stock to mostly cash. I suggest you all do the same.
ReplyDeleteI received my special contribution, too. Ended up with 2% + and extra 1%. Age and length of service factored in.
ReplyDeleteBut the amount I received is much smaller than a percentage of my salary. Does anyone remember what those percentages are based on? Is it based on a percentage of salary or a percentage of what you contributed to the 401k last year?
"We don't burn our draft cards in Muskogee, we don't take our trips on LSD.." Memories from back in the day, Merle Haggard, where are ya now?
ReplyDeleteYou guys have me totally bummed out. I took a buyout. I had saved every spare cent to my 401k. So I blissfully enter retirement and the stock market steals a large percentage of the 401k money and now even my pittance of a pension is in doubt because everyone here is either betting Gannett will fail or cheering it on.
ReplyDeleteAt what point are we allowed to hope for the best? Or do I need to just quit reading this blog?
A friend just told me that "Expecting the world to treat you fairly because you are a good person, is a little
like expecting the bull not to attack you because you are a vegetarian."
I still want to know why everyone thinks this is the end for Gannett?
It is based on percentage of salary, but this first year is only for about half a year, because pension was frozen in August. The contribution(s) in 2010 will be for a full year.
ReplyDeleteDon't believe the doom and gloomers. Remember, this blog by its nature attracts mostly disgruntled current and former employees. So their world view is likely to be skewed a certain direction.
ReplyDeleteI'm now officially on furlough for a week. And you know what? It feels really good.
ReplyDeleteSure it's costing me money. But these days being out of my office is priceless.
happy valentines day to all the photogs having car sex in the home news tribune company cars parked in brooklyn.
ReplyDelete8:07 a.m. wrote - "I stopped getting a paper about a month ago for various reasons but mostly financial. I thought I would miss it more than I do. I have come to rely on the web for my news now and don't think I will ever subscribe to my local paper again"
ReplyDeleteThis is EXACTLY why we MUST start charging for online viewership. Why pay for something you can get for free elsewhere? Wouldn't have to be much. It could be $5 for unlimited viewing for a month, $2 for a week, or something like that. And please spare me the "you don't know how the Internet works" comments. I DO get it. Charging for usage IS possible and has proven successful for NUMEROUS other publications. Look it up! Failure for Gannett to realize this is just inexcusable. We MUST start charging for online viewership NOW!
Enjoying the last few days of my furlough despite the fact that I found out the sales assistant covering my duties was fired on day 2 of my furlough. I am sure the management was not smart enough to ask her if she was covering for anyone. More ad dollars down the toilet....
ReplyDelete12:17 -- I agree completely, especially in small to mid-sized markets. It might not work to charge for USAT content because people can get similar news from CNN.com, MSNBC.com, etc.
ReplyDeleteBut in most of our markets nobody else is doing what we do. Even if we didn't charge for online content we could simply pull it down and likely increase the circulation of the paper. Plus, there would then be more people working on the paper and increasing the quality.
Right now, the Web represents such a small part of our revenue stream that it isn't worth the resources we're putting into it. Some peope think it will be worth it someday. I think they're misguided.
The main problem media is facing today is that there is much more competition than ever before. Sure, subscriptions will continue to fall until they hit a floor. But viewership at the major TV networks is down drastically as well.
And nowhere will you find more competition ready to steal your readers than on the Web. At least with a newspaper, you have a monopoly on your specialty.
Problem is, local media isn't well designed for corporate ownership anymore. That's why I suspect Gannett will be more or less out of the newspaper business in the next 10 years. Look for it to retain maybe USAT, Careerbuilder, etc. But the smaller papers will either close or be sold.
The influential financial weekly Barron's today weighs in on Gannett's high dividend in a piece on safe and unsafe dividend plays in today's market.
ReplyDeleteThe caption to a table of stocks with obscenely high dividends, including GCI, says: "The high yields on stocks such as Gannett, CBS and Textron don't look sustainable, given pressure on the companies and industries."
The story goes on to say:
"The implosion in media profits is stinging CBS and Gannett , which once had secure dividends. ... Gannett, the largest U.S. newspaper company, could be fighting for its survival in the next few years, given industry trends. With its debt yielding 20%, Gannett ought to conserve every spare dollar to repay its $4 billion of debt."
So, will the board heed Barron's and cut the dividend?
Dividend.com is even discouraging "contrarians" from buying Gannett. Latest post on its website:
ReplyDeleteFor a contrarian, this may sound like a buying opportunity for stocks like the New York Times, or even Gannett (GCI). We believe the market is painting the true picture, however, with the continuous selling of these shares. The transition from print to the web may come full circle one day, and for brands like the NY Times, it may take a lot of shuffling and price adjustments to get there.
May I make a productive suggestion?
ReplyDeleteHow about we share what job-search Web sites are the most complete or helpful. I know about monster.com and careerbuilder. I've read on here about journalismjobs.com.
I would appreciate any other leads to such sites. Maybe Jim can make a page of links to them.
11:42 AM says: "Don't believe the doom and gloomers. Remember, this blog by its nature attracts mostly disgruntled current and former employees."
ReplyDeleteBut by Jim's accounting, there are a ton of them. This isn't just an anomaly.
11:42 I've never been about doom and gloom. I have always lived and will continue living positive. This company lives and breathes gloom. If you don't see that go back into your managers office and dream on!
ReplyDeleteI think this blog does a wonderful job of providing balance for any doom and gloom. Notice Jim has included the company's version. If you're feeling doomy and gloomy, just go to the official Gannett site and read some press releases and company information about all the wonderful things that are going on---all the digital strides, innovation, awards, promotions, leadership and diversity and on and on and on. I just wish there was something on there about how Dickey did in the golf tournament, how that Craig and Denise Dubow scholarship is helping someone somewhere or how much money Neuharth's column is making for USA Today.
ReplyDeleteHere is a Valentine's Day link just for Gannett employees past and present. It's a great tune (cover) and it will be fun to see how many people get the Gannett connection. Happy Valentine's Day to Jim and Sparky! Thanks for all you do to keep us (relatively) sane and informed.
ReplyDeletehttp://friendfeed.com/e/0170851f-82b0-4999-b946-4273c91d2442/YouTube-afghan-whigs-can-t-get-enough-of-your/
8:49 AM...APP has Hotties? That's something they can no longer say at the CN. And is it merely a coincidence that the HNT has an employment agency right next door?
ReplyDeleteAwwww ...
ReplyDeletePretty original cover.
But I still like the real thing.
http://www.youtube.com/watch?v=z4sKdiWlLR8&feature=related
Yes, but what is the Gannett connection? for all the chocolate kisses, anybody, anybody?
ReplyDeleteHere is a Valentine's Day link just for Gannett employees past and present. It's a great tune (cover) and it will be fun to see how many people get the Gannett connection. Happy Valentine's Day to Jim and Sparky! Thanks for all you do to keep us (relatively) sane and informed.
ReplyDeleteAnswer: John Curley Jr. in the background with the black and white hat on. They Suck!!!!
I dont know any of their other music, but I do like that cover. It's on the soundtrack to a great sleeper film, "Beautiful Girls,'' and it's fun.
ReplyDeleteI tried to transfer my Special Additional Employer Contribution out of Gannett stock and I got an error message.
ReplyDeleteSo did I...Hmmmmmmmmm
ReplyDelete2/14/2009 6:01 PM - you probably got a error message because the site is overwhelmed with everyone moving that money out to other funds! :) I just did!!!
ReplyDeleteif we were employed with the company from August through the end of the year, are we entitled to the extra payment even if we were let go in December? A few of us are still on severance, but we haven't received anything in our account. One of us transferred everything out of his account a few weeks ago. If this is for last year, shouldn't we still be entitled to something?
ReplyDeleteI for one am happy with the stock price decline. Maybe the company can go private and not answer to shareholders in the future.
ReplyDelete"Anonymous said...
ReplyDeleteI for one am happy with the stock price decline. Maybe the company can go private and not answer to shareholders in the future.
2/14/2009 7:11 PM"
Did you read this statement before you posted it?
Assuming someone would want to buy the company, do all the fundamental challenges facing the business suddenly disappear? Does private ownership suddenly guarantee smart decision making, like conserving cash for operations? Don't you think that private owners are going to want to see nice profits?
IMO, if GCI is bought up, it'll be because someone wants to break it up and sell anything that's not currently viable (by whatever criterion is used).
Happy Valentines day to all those managers who don't have a heart at Gannett.
ReplyDeleteHey Jim:
ReplyDeleteI'm curious on your readership.
Do you find your spike in the morning, afternoon or evening?
Weekdays or weekends better.
Just curious you need some advertising banners on this website. Maybe like US ink. Great place to stay in front of Gannett employee's always trying to help.
@9:33 - "A year ago, GCI was a corporation valued at $18 billion." Wrong. Another doofus on this blog.
ReplyDeletePlease learn math before you comment on any financial item.
Thank you.
"Doom and Gloom" is not having any disposable income without the furloughs and realizing that you have to go to Gleaners to feed your family during this time. Then realizing that you paid your mortgage, and now you don't have enough left to buy gas to get to and from the office for the next two weeks. Guess the mortgage check will bounce.
ReplyDeleteIs anyone else getting bitched at because in the off-furlough time you are covering for someone else and happen to go over an hour?? Don't they know that if the paperwork isn't done the papers won't go out?
ReplyDeleteCharging for e-editions / green editions / newspaper content on the web isn't working.
ReplyDeleteThe non-Gannett paper I work at did cut back on what is posted for free, and made an e-edition with all the print content available on a subscription or individual date basis.
There is very little response to that product.
I can't tell you how many people have called my newsroom saying "I can't find such and such story on your web site, can you send me a copy?" The vast majority of those situations involve articles that were in the paper but not posted on the web site.
I go into the system to verify the date of publication and tell them "You can order a back issue or pay for access to the e-edition."
I don't know how many actually follow up with a purchase.
I suspect some of them start asking around "Anybody still have a copy of Wednesday's paper?"