"I assure you, you will see great progress."
-- CEO Craig Dubow, looking ahead to 2008, in his annual letter to shareholders, Feb. 28, 2008.
Sunday, March 02, 2008
Quotable: Eight words to remember Dec. 31, 2008
-- CEO Craig Dubow, looking ahead to 2008, in his annual letter to shareholders, Feb. 28, 2008.
10 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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Dubow is controlled by Martore. It is so obvious to even those of us in the newsrooms. You hear it from everyone and you see that she is never too far behind him. She clearly wears the pants in that relationship.
ReplyDeleteBackground: That comment refers to Chief Financial Officer Gracia Martore; in terms of job description, she's perhaps the second most-powerful executive in Gannett (after Dubow) or third-most powerful(after newly appointed newspaper division president Robert Dickey). See this management group page: http://www.gannett.com/about/management/gmc.htm
ReplyDeleteThere's been a lot of progress in the last year. If the progress Dubow and Martore have been making continues the stock price at this time next year should be around $15 a share.
ReplyDeleteShe is the 2nd in command but everyone knows if you want to get buy in you must have her vote. If you do it's a done deal.
ReplyDeleteNo way is the newspaper division head the 2nd most powerful.
Gracia gets what Gracia wants. Some might call her the "b" word. I happen to think we need more of her type than the waffling mamby-pamby's that seem to run a muck all over corporate.
Quoting SNL last week "Bitches get things done. Bitch is the new black!"
Dubow said this in December 2006 in an email message to all "co-workers":
ReplyDelete"Translating these changes into revenue growth is essential. Linking innovation with profit must happen, and happen quickly. This coming year clearly will be the test, and we must pass."
D'oh! (slapping forehead): Did I say 2007? I meant 2008. That's when we DEFINITELY must pass.
ReplyDeleteGCI stock slipped below $30 a share ($29.93 to be exact) this morning.
ReplyDeleteSome of your 401(k) accounts are now officially 133.67(k) accounts, I guess.
Had there been similar revenue, profit, and poor stock price performance most of the bullies would not have stayed. The bully mentality started at the top and festered down. It's likely over and soon time to distribute the gold coins. No new strategic plans can change the dynamics of revenue migration and the lousy morale of "remaining" employees.
ReplyDeleteI see comments and questions throughout about personnel in sales and advertising. The answers are rather easy...it has been waiting to happen for years.
ReplyDeleteWalmart threatened to pull more business from newspapers for years given the absurd, greedy level of profits for years.
Time has caught up with the newspaper business. I ought to know having done the advertising sales world for twenty-five years.
We increased advertising rates sometimes twice while the circulation numbers gradually declined. The arrogance has finally landed in the laps of the Dubow's after the arrogance of Watson and others.
I see the complaints about meager wage increases for reporters. Imagine the pressure on sales managers doing the dance to perform, constantly replacing sales reps, and giving lip-service to the Corporate types.
Jim Marchal, a corporate VP of Advertising, was one of the few decent types with some respect and guidance to those in the field.
The expectation that Corporate had and has all the answers is the biggest misgiving going. The lack of loyalty, all around, by Gannett was always a well-known fact in the local community. They cared not.
That lack of loyalty has been re-paid. The glory days are over...Gannett and other media giants are paying the price...in more ways than one.
The expectation that Corporate had and has all the answers is the biggest misgiving going. The lack of loyalty, all around, by Gannett was always a well-known fact in the local community. They cared not.
ReplyDeleteThat lack of loyalty has been re-paid. The glory days are over...Gannett and other media giants are paying the price...in more ways than one.
AMEN!!!!!!!!!!!!