Tuesday, March 17, 2009
Tuesday | March 17 | Special Proxy Watch Edition
Today, GCI may release the proxy report on 2008 pay to CEO Craig Dubow and others after 4 p.m. ET, when stock markets close. Please post proxy and other comments, below, in this open forum. (Earlier.)
86 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 St. Patrick's Day!
ReplyDeleteI know there are a lot of people that hate this company on here and wish for it to fail, but this week you will see that all is not doom and gloom here. Look for some positive news to come out. Then we will see if you were so smart to dump that stock at 3 or 4 bucks. This stock is way too cheap right now. You may have to look somewhere else for your blood thirst. Good hunting.
ReplyDeleteSo I guess, in your opinion, I should retain stock in a company even if I feel they conduct their business without ethics??
ReplyDeleteGee...isn't greed like that what got this country into a mess to begin with? Hey...who cares if a company treats their employees like crap or buys their goods from factories that pay little kids a buck a day? As long as the stock makes you money...who cares how they turned a profit??
Jeez. Whatever happened to Business Ethics??
Are executive editor slots the next things to be eliminated at most of Gannett's mid-to-small-sized properties? According to E&P the GM in Hattiesburg told them that "Fowler said managing editor's responsibilities are more closely aligned with the newspaper's core mission of developing local content for the newspaper's print and Web products."
ReplyDeletehmmmm?
On Monday at the Tennessean employees were told to expect both salary cuts and furloughs in this quarter. Nothing said about layoffs as far as I know.
ReplyDeleteOf course, I'm not at Broadway so I had to get this second hand.
I've been leaving my match in GCI stock for months now. Granted, it's only a couple hundred bucks. But the upside could be fairly nice, and the downside isn't much.
ReplyDeletePlus, by not logging into YBR to move it, I don't have to see the dismal state of my investments in every other sector of the economy.
Thank goodness I have 30 years to retirement. How many times can you say that phrase?
St.Patrick's Day had made me reflect on Mr. Dubow's tenure at the Helm of the S.S. GANNETT (aka the S.S. MINOW).
ReplyDeleteWhen Mr. Dubow took over in July of 2005 I was able to buy 36 16oz Beers (at $2.00 per beer)at my local Pub with 1 SHARE of GANNETT STOCK. Thankfully my pub owner has not raised his prices over the last 44 months. Now I can buy ONE BEER with 1 SHARE of GANNETT STOCK......and leave a 30 Cent Tip.
Something to ponder my fellow Gannetteers....while your drinking today/tonight....trying to forget your diminished Wealth (401k & doubtful looking pensions) and dimming future employment with Gannett.
Our property only has an EE. The ME got laid off in December. I believe that's the case at other properties, including Poughkeepsie and Cherry Hill. So how could they eliminate the EE? As for EEs, several got eliminated in the last round, too. Hard to see any strategy, it seemed to just be by seniority.
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ReplyDeleteDon't get too excited about the uptick in the stock price. Below isan article about Gannett
ReplyDeleteNB
http://www.zacks.com/stock/news/18244/Gannett%3A+Online+Strength+Fuels+Stock+Surge+-+Analyst+Blog
Gannett (GCI) shares rocketed 14% today after the company reported that online advertising revenue at USA Today, its flagship domestic paper, grew 27% year-over-year in February.
This is the largest online revenue increase among the national newspapers, and is in stark contrast to many, including The New York Times (NYT), which began to suffer recession-induced declines in online ad revenues in 4Q08. The Tech section of USATODAY.com drove growth, doubling its unique visitors to 1.9 million.
Newspapers have scrambled to build website operations as readers and advertisers move online. Many are now suffering the consequences of an ad-only business model. Future survival will likely necessitate a fee-based system, whether in the form of subscriptions or micro-payments for mini-subscriptions (columns, blogs, sections, etc.).
Despite vigorous growth, revenue from USA Today’s nascent online operations was not enough to compensate for tumbling print advertising revenue, and together they fell 18.5% in 4Q08. Revitalized print ad revenue is dependent on the economy, for which there is no visibility.
While USA Today’s growing online operations underscore the long-term franchise value of the nation’s largest newspaper, in the near-term, Gannett’s overall revenues at its U.S. and U.K. newspaper and television broadcasting operations are falling faster than it can cut costs. In turn, we think downside risk in GCI shares outweighs upside potential.
Did online revenue increase 27% or was that page views? There's a huge difference.
ReplyDelete8:08 AM:
ReplyDeleteIts unique visitors. Sloppy "reporting" from Zack's.
MCLEAN, Va., March 16 /PRNewswire/ -- USATODAY.com had more than 13.4 million unique visitors in the month of February 2009, a 27% year-over-year increase, according to Nielsen Online's combined Home/Work panel. USATODAY.com had the largest year-over-year increase in the national newspaper competitive set.
The Tech section of USATODAY.com had the largest audience growth in February with a 100% year-over-year increase to 1.9 million visitors. USATODAY.com's coverage of the economic stimulus package, the Octuplet Mom, and Rihanna were some of the most viewed topics in the month of June based on internal analysis of traffic data.
Question:
ReplyDeleteDoes Gannett have any obligation to see that a correction is made since this story has to do with stock prices?
I would have thought that if unique visitors increased that revenue would have also increased. Isn't ad revenue based on hits?
ReplyDeleteImportant Cobra Question:
ReplyDeleteMy Gannett health insurance ran out at the end of January. Because of some rule they have "on the books" we must wait for the current insurance to run out before applying for COBRA. All paperwork and forms were completed and sent out prior to the end of January.
I have a chronic condition which requires extremely expensive daily medication and doctors' visits/lab tests. With this medical condition, not taking the required medications can be fatal.
I have worked with a medical case manager to get the forms completed. As an added precaution, I paid the full February COBRA premiums from my enemployment check.
It is now March 17, and I find that YBR/Hewitt is asking for two months COBRA payments or I will be terminated. The State agency handling my case informs me they have repeatedly called Hewitt (YBR) for Gannett's vendor (or tax) number so they can issue a check.
With this centralized system handling our benefits, does anyone know who in Gannett can be contacted to explain the severity and timeliness of the problem? Local HR is not the answer.
Thank you!
I cross-posted this here as I think it speaks volumes as to one of the reasons why we're in this boat. We put all our eggs into one basket (online) and then shot the basket full of holes.
ReplyDeleteA blogger asked: "Any serious explanations as to why traffic would be down?"
Go to msnbc.com
Go to Reuters.com. Take notice of their layouts/navigation/ad spots/etc...
Now go to sites whose focus is more multi-media. foxnews or cnn.
Look how they're doing it.
Now go to ANY of the Gannett sites.
Is there really any further explanation required?
please post directions for us to participate in listen-only mode to the analyst call for Gannett.
ReplyDeleteI wanna hear him sweat.
The Financial Times has this to say about the future of British newspapers:
ReplyDelete"Most industry analysts believe that the “big four” regional newspaper groups – Trinity Mirror, Johnston Press, Newsquest, owned by Gannett of the US, and Northcliffe Media, the regional arm of Daily Mail & General Trust – should become a big two."
The full article can be found at: http://www.ft.com/cms/s/0/5f3abcb4-1280-11de-b816-0000779fd2ac.html?referrer_id=yahoofinance&ft_ref=yahoo1&segid=03058&nclick_check=1
9:11, Gannett is taking it's time getting info to Hewitt regarding Cobra. I was laid off in August and couldn't afford Cobra and it was cancelled Jan.31. I rec'd a letter from Gannett saying my Cobra was terminated and I could not reinstate it to take advantage of the new subsidies that are supposed to kick in March 1. I too need to speak to HR and I will start at the top with Roxanne H(?) Good luck to you and keep paying or they will kick you to the curb. I was told you will be reimbursed once they get the info from Gannett.
ReplyDeletethe quantcast.com score for gannettblog can be found at:
ReplyDeletehttp://www.quantcast.com/gannettblog.blogspot.com
shows gannettblog rank at#656,710
usatoday.com is listed at #108.
Are the executrix editors quitting because they don't want to be the ones to drop the axe (shortly)?
ReplyDeleteWhen systems people (at newspapers) are having to ask for funds to buy a few DVD's to backup some data, we should be highly concerned...
ReplyDelete"Did online revenue increase 27% or was that page views? There's a huge difference.
ReplyDelete3/17/2009 8:08 AM"
Probably both. The Gannett Web sites use all these slick ricks to increase page views and click throughs, like splitting up stories and photo sets and etc. More page hits can be leveraged into selling points to advertisers, who buy ads hoping for more exposure, therefore ad sales increase.
If it's smoke and mirrors and the page hits are inflated, the advertisers will soon realize that the numbers were an illusion and pull back their money. Twenty-seven percent seems awfully high and perhaps artificially inflated by stupid Web tricks leading to more raw page views.
If it is indeed a trick to pump up the numbers, the spike will fade after a time. Like next quarter or next years. Tweaking the numbers is what it's all about for these people.
Does anyone remember the 'Epic 2015' video that HR showed us in the "Managing Change" training? It was scary then, scarier now.
ReplyDeletehttp://www.youtube.com/watch?v=OQDBhg60UNI
"Fowler said managing editor's responsibilities are more closely aligned with the newspaper's core mission of developing local content for the newspaper's print and Web products."
ReplyDeleteOur ME left (felt pressure) not too long ago and we're not filling the position. I guess EEs are safe ... if they have GCI tenure.
Replying to the COBRA poster who needs info from Gannett for Hewitt...Gannett's tax id nymber is...061032273
ReplyDelete@4:47
ReplyDeleteI'm at Broadway (in Nashville) and I haven't heard anything about salary cuts or more furloughs. Anybody else in Nashville hear about this?
I have heard that Gannett will be trying to centralize classified ad sales (a'la the COE.) The Tennessean is supposed to be one of the site being centralized to.
I have a question for the crowd that I think is probably pretty wide-ranging. Like most of us who can read, Im very worried about the future...not just next quarter, but the next year, five years etc. That worry is creeping into everyday life, knowign that if I get whacked, there is very little I can do for a job in my depressed community and very little chance of selling a home in this depressed (sorry, ad reps, it really is) market, so moving isnt an option. What are you other middle-agers out there doing to deal with this angst?
ReplyDeletebye bye seattle pi. now we will see if mother gannett is willing to let any of their papers take the leap to online only.if so the resulting cut in employees is will be devastating.
ReplyDelete11:26 You have the option of riding it out, and hoping for something to come along. Or get out there and find another job. I think this train ride is coming to an end. GCI has treated its newspapers as money machines, and the gears are now coing apart. I see nothing but announcements of foldings or reductions in the next year as this recession grips. I hear (but have not been able to confirm this) that March ad revenues are down, and there is no spring bounce in sight. Maybe we will hear more of this from the investment conference, or the q1 report.
ReplyDelete11:26 -- Peggy Noonan wrote a great article in the Wall Street Journal this past weekend - "Pandemic of Fear"- that describes perfectly the angst you and everyone feels. EVERYONE should read it.
ReplyDeleteIn the middle of the night I drive to work and see more and more closed stores in towns, that one year ago were thriving, or more accurately, appeared to be thriving. I am wondering about increasing crime in my town as long-term unemployed regular people lose their unemployment benefits. I am wondering what will happen when China and other nations that have/are lending us trillions of dollars finally say hold on.....no more of our money for your profligate spending. I wonder if my laid-off Gannett friends will be living in a homeless Tent City with so many other formerly middle-class creidt-affluent consumers.
Now, I am not middle management, lowest level "management", in reality blue-collar (manager "title" notwithstanding). But I have felt and analyzed my own and now the growing "Universal Angst" you and Ms. Noonan are describing.
I work hard to do my job above the level of my peers; behaving as is my job will last.
My solution to mitigating the ANGST ( tightness in my chest and upset stomach and sleepless nights) has been/is to 1) prepare for the imminent loss of my job with Gannett; 2) sell my home at the MARKET PRICE whatever it is (because is will be less 1, 2 5 years from now SEE: Case-Shiller Housing Index); 3) buy/rent a cheap house with some land in a cheaper state; 4) learn how to grow food (see www.SurvivalSeedBank.com); 5) read books on how to fix & build things -cars, lawn mowers (people are going to keep things longer and will need to maintain them); 6) talk with my Family & Friends about how to live more efficiently (living BELOW our means, even if those means are low); 7) determine what is really important in life, how to live a "successful", by that I mean fulfilling productive life that is not governed by FEAR.
For a good source of useful practical information & realistic economic analysis check out www.FinancialArmageddon.com ; trust me it is worth a look.
Has anyone who let their insurance expire after they were let go received any information on getting COBRA under the new law passed?
ReplyDeleteHey 12:17, there is an amazing collection of books called Foxfire. I believe the anthology is now 12 books total, each offering how-tos from hog dressing to banjo building to keeping chickens. It's an invaluable addition to your hand-built bookshelves.
ReplyDelete9:11 a.m. (COBRA)
ReplyDeleteHere's an interesting read on COBRA, etc.
From Akron, but Detroit added good sidebar info: www.freep.com/article/20090218/FEATURES08/902180355?imw=Y
Without going into too much detail, I continue to be astounded at the unethical practices of management. It makes me sick to my stomach.
ReplyDeleteThis blog is boring. Who cares about management. Start reporting some real stuff on Gannett. What are some new products? Will Newspapers dies? How do we keep our jobs?
ReplyDeleteIf we keep writing about had bad management is or how much they get paid, then we are no better than the supermarket rags!
Ahh, time to bring out the Mother Earth Almanac. My days as a 'save the Earth hippie' in the 60's and 70's is going to come in handy if I ever have to go live in a tent!
ReplyDeleteunethical practices like encouraging bloggers to update from home on weekends and not paying overtime?
ReplyDeleteAll we have left in Cincinnati is Editor/VP Tom Callinan after Gannett finally found a way to get rid of former EE Hollis Towns by transferring him to Asbury Park. But TC doesn't fit the new mold of hands-on EEs. He's more of a sit-in-his-office, walk-10-feet-to-the-meeting type of manager, a real recluse. He's not even the kind of editor who spends time out of the office developing sources like the best EEs do.
ReplyDelete2:08 I could not disagree more. We have been bitching about lousy and bloated management at GCI for the last several months, and now it looks as if the powers are doing something to remove some of the problems. Whether corporate is hitting the mark -- or not -- is the story we want to follow here. I am intensely interested because for every one of the suits that go, there is payroll made for about six lower-run employees of whose ranks I number.
ReplyDeleteDid anyone maybe think that Corporate is holding the news about there bonus' to include in with the first quarter statement? Thus Dropping a bomb shell that they will announce that there foregoing there bonus' and making WallStreet happy ????
ReplyDeleteDoes anyone have any information on stimulus bill COBRA provisions for those of us employees who lost jobs prior to 9/1/08 and are still on COBRA? I continue to hear it's not applicable to us.
ReplyDelete9:44 AM
ReplyDeleteand
11:04AM
Thanks for reaching out!
Can anyone explain what an EE does vs. what an ME does? And what advantages having one or the other a site gets? Are EEs paid by Corporate and MEs by the local sites, or what?
ReplyDeleteLook, let's be honest - any publisher out there who made his budget, showed revenue growth last year, saw a jump in circulation - even a tiny one - deserves a bonus.
ReplyDeleteBut the bonus should be for achieving goals. If those goals are achieved, why shouldn't they get the money?
I am nuts saying this since I loath Gannett and its vile policies.... but what is fair is fair! And I am not talking bonuses in the millions for the corporate bigshots, but bonuses of $4,000 or $5,000 for the local community newspaper department heads and publishers.
These are unusual times. No one should take a bonus. Those eligible for bonuses are usually in the higher salary rung.
ReplyDeleteHow much does Gannett bill the individual sites for tax, legal, audit, financial and risk management services? Anybody know how that works?
ReplyDelete"Seeking Alpha" 3/17/09
ReplyDeleteGannett (GCI) rated in the top of the WORST 10 stocks in the S&P 500!!
How bad can we get?
Maybe it's my pay scale and my position in the trenches, but I would be psyched for any kind of bonus, like a few slices of pizza or something.
ReplyDeleteIt makes me sick to think we all lost a week's pay, yet Craig DuBow pulled in $850K in bonus pay.
Dick.
4:02 - HELL NO! They're all keeping their charity bonuses. They'll need plenty of money so they can take cruises and European trips during their furloughs the next 3 quarters.
ReplyDeleteHere is a great column, actually, from Seattle:
ReplyDeletehttp://www.seattlepi.com/virgin/403824_virgin17.html?source=mypi
He makes many, many good points, most of which have been ignored over the years by Gannett, as well as Hearst!
Louisville IT vp is leaving. Not sure if he was forced out or just bailing out.
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ReplyDeleteI'd suggest that all Gannetteers remind their managers at review time that, unlike the CEO, we met our goals and deserve a bonus. After all isn't that fair?
ReplyDeleteSeriously after years of good reviews and being told that corporate has capped money for merit increases this is a slap in the face.
Do shareholders get a vote on it? If so, vote it down!
@6:11 - he was not forced
ReplyDeleteHey benefits question guy. Sorry about your problem. But why are you writing the blog and not contacting YBR and working through it with them? This isn't brain surgery, everything isn;t some big lawsuit or something. Just call and ask they question, and if that doesn't work, get the manager, ask them. Geez.
ReplyDeleteTo: 7:56PM
ReplyDeleteYour suggestion concerning contacting YBR seems logical, but you really have no idea what you are talking about. I have them on speed dial! They make promises to phone back and it hasn't happened yet! They don't have some of the information essential for obtaining benefits, and it appears that they don't have a clue about how to help in many situations.
Call them! You will speak with very polite people who will promise just about anything to get you off the phone.
Is it any wonder employees and former employees seek the counsel of one another?
Clicks on one metro paper's Web site were enhanced because reporters had to go on the site to check the story archives...
ReplyDeleteTo go online to begin with, you're supposed to set the paper's Web site as the default, so there's more questionable clicks ...
Is this any way to run a company? Yee-haaaaa
http://biz.yahoo.com/ap/090317/na_us_tucson_citizen.html?.v=1
ReplyDeleteTucson deal delayed?
To the laid-off person worried about COBRA. I got COBRA paperwork and it indicated a 60-day deadline to sign up. So I did, but not for medical, as my area offers a program for poor people who aren't poor enough to get Medicaid. It covers most of the cost of doctor's visits, which, but for the grace of God, is all I need right now. My meds are generic and $10 for a 90-day supply. Target, Wal-Mart, maybe even Walgreens does this and has been for awhile.
ReplyDeleteI did sign up for dental and vision, and got billed more than double to catch up with "cost" of COBRA dental and vision. Just got my second invoice and it's less than 1/3 of the first. I do not think that includes the federal government help. I called my local HR representative and she was most helpful and said Gannett would send out refunds related to overcharges after the federal govt. mandate began, OR the bills would be adjusted going forward.
I hope you get some help. Keep checking your YBR site, that's how I knew my COBRA had been correctly handled.
Tucson Closing Delayed Hooray!!! Let's hope one of the two potential buyers can land the deal. Life without Gannett would be blissful...
ReplyDeleteThe ad reps derseve their bonuses once their goals are adjusted to 50% of what was done last year. That is only fair.
ReplyDeleteCan someone explain the shareholder proposal (item 3) to me in non-MBA terms? Thanks.
ReplyDeleteGannett is about big losses. There are a lot of good people from all departments have been shown the door dispite their dedication to Gannett. GANNETT IS ALL ABOUT THE BOTTOM LINE and some executives. Even our site with a 15% to 18% margin is not safe. Gannett is faststead on destroying good journalism and good local newsaper operations. I say loose the publishers and all directors and let the mid-level managers run the sites with a strong business manager and a strong editor.
ReplyDeleteWow, folks, relax about the benefits questions. Some people need some help and Lord knows Gannett won't help. I believe all customers are supposed to hear by April 18 on how the rules apply in your specific case. You have to pay the full amount each month for COBRA until the notification arrives from GCI. Any money you "over pay" will either be reimbursed or credited to your account (think of that option as paying in advance). And sadly those fired back in August are not eligible for the credit.
ReplyDelete8;56 pm is suggesting:
ReplyDelete"The ad reps derseve their bonuses once their goals are adjusted to 50% of what was done last year. That is only fair."
Sounds like AIG where you are rewarded for not succeeding. You must be kidding! Why in the world should someone get a bonus for not achieving their objective, oops, aside from the suits in McClean, that is. No way. Miss your goal you get nothing. Otherwise, why establish goals in the first place?
I heard that corporate has a program that is checking everyone's computer browsing history by unique ip address to determine if they are visiting Gannett Blog and posting!
ReplyDeleteAs soon as you connect to your office network, it reads your browser history. And if you are already connected it does it automatically and in real time.
My advice is stay off the blog with your work computer and don't be stupid enough to do it while in the office!!!
Just a piece of tech advice from a techie on furlough!
Someone else told me too about the corporate IT people looking into computer browsing habits of employees.
ReplyDeleteEvery time I log on when I am connected to my office network, there is a weird program that is running in the background and then it disappears.
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ReplyDeleteLooks like some folks are hiring journalists at great pay --- in the Middle East.
ReplyDeletehttp://www.wikileaks.org/wiki/The_mother_of_all_media_leaks
Please try not let all the doom and gloom overwhelm you. There is nothing we personally can do to change the situation. But, we can change our own destiny. You can start taking online classes, take classes offered through your community. Look for a part-time job where your true passion lies. Please don't give up on yourself. Being older doesn't mean your life is over. You can change your life at any time. Only you have the power to do it. I have the faith you can make a difference in your own life and others. Don't let the negativity of the media bring you down. Our parents and grandparents survived the worst depression there ever was — we can too.
ReplyDeleteI have a question for the crowd that I think is probably pretty wide-ranging. Like most of us who can read, Im very worried about the future...not just next quarter, but the next year, five years etc. That worry is creeping into everyday life, knowign that if I get whacked, there is very little I can do for a job in my depressed community and very little chance of selling a home in this depressed (sorry, ad reps, it really is) market, so moving isnt an option. What are you other middle-agers out there doing to deal with this angst?
"Our parents and grandparents survived the worst depression there ever was — we can too."
ReplyDeleteBack then there were standards. Not now. Most of the people here cannot write, yet here they are. They never should have been led to believe they had a career.
9:36
ReplyDeleteFrom someone who is a techie - that's a load of crap. Who's version of reality are you living in?
Thanks for the thoughtful post 10:45. It's nice to see someone encouraging other employees to move forward with their lives.
ReplyDeleteI'm one of the middle-agers you're talking about, and I'm going forward with my own plans. My work for Gannett is now secondary to my own desires. It wasn't always this way, but the furloughs, layoffs, etc., have made it clear that I'm not even a secondary concern to the company.
I'm not falling into the "at least I have a job" mindset that so many people out there are living by. Slaves might have said, "At least my master only beats me twice a day," but that is defeatist.
It is ridiculous that people in a country as wealthy as America should be reduced to thanking the stars for being deemed worthy of keeping a job that they've done well for years. The 90 percent of the people in this country that still have jobs are not "fortunate" because they have been deemed worthy. It's "unfortunate" that we have allowed our government to be so corrupted by greedy businessmen that 10 percent of our workforce is unemployed.
Yes, I'm clinging to my job while I still have it, but I'm also looking at all other possibilities to better myself and make money. I'm cranking up my freelance business. My wife is getting a new job.
I'm considering moving. Some areas of the country are less depressed than others, and it is possible to rent out a home that you own so that you can afford to rent elsewhere. Hopefully, you will only need to hang onto your current house five to seven years to make selling feasible. And you might well cover your own rent with what your renter gives you.
Also, depending on how much you owe on the home, you could sell it and eat the loss, making up for it with bargain pricing in your new home.
The possibilities are many. Don't give up.
3/17/2009 8:33 PM said: Clicks on one metro paper's Web site were enhanced because reporters had to go on the site to check the story archives...
ReplyDeleteTo go online to begin with, you're supposed to set the paper's Web site as the default, so there's more questionable clicks ...
Is this any way to run a company? Yee-haaaaa
Asking company employees to use a product that the company produces -- THE HORROR!
To whomever got their butt reamed for asking about Cobra...ignore their post. They probably work for Hewitt or are a kid who has never been ill.
ReplyDeleteI won't go into great detail because I'll be outed but things became so bad between Gannett and Hewit that I retained counsel. I too am chronically ill and not having meds could mean my life.
If I were you, I'd contact HR in Virginia and just keep asking for supervisor after supervisor. (Someone recc' Roxanne at one point I believe. I spoke with her and got no where...but TRY) Don't even waste your time with your local HR.
On Jims site here is an attorney handling some of the Gannett suits involving lay-offs and etc. Try them regarding your health benefits problems as a second resort.
I'm not normally a litigious person, but I'm afraid to wait Gannett out on this promised reimbursement. I at least want to get on their debtors list for when they go under and refuse to pay anyone...
Hang in there. You aren't alone. I stand at that pharmacy every month and sweat out whether Caremark will say yes or no to my prescription. Hewitt wants their payment ON TIME but BC/BS and Caremark will screw you over for MONTHS...longer, on claims made during your Cobra approval.
Sorry 10:45 that you don't want "doom and gloom" but...you asked.
ReplyDeleteI'll tell you what I did. I moved 1800 miles away. 1800 miles from all my friends, family and everything I know. I rented out my house to tenants who checked out fine on credit and criminal...then proceeded to destroy my house and bounce rent checks.
I don't know anyone here. Yes, it's cheaper. No, there are no jobs here either. (Let's face it, there aren't any anywhere) we're all miserable and hate it here but it was this or foreclosure. And no, I did NOT live in a home I couldn't afford. It's actually paid off (I'm 56) But who can even afford East Coast property taxes on unemployment? My house is (was), very conservative, no penny-millionaires mansion.
Yes, we moved to a nice enough place but it hurts to leave kids, grandkids, aged parents, friends for 30+ years and the security of home.
I'd love to paint a pretty picture but that's basically the reality of the situation. I hope Mr. DuBrow enjoys MY retirement. Him and the guys at AIG, Bank of America, Chase and all the rest of them..
Other chains have adjusted ad goals to 50% because that is realistic. Really, let's do away with all news and just make the papers a straight shopper, after all the advertisers only care about the distribution, news is just superfluous. Comparing an ad reps measly salary to AIG is ridiculous.
ReplyDeleteIt's certainly reasonable to adjust sales goals downward in a slumping economy. They're adjusted upward during boom times.
ReplyDeleteAnd I'm a reporter, not a sales person.
The company shouldn't pump out all this crap about making sacrifices when it is unwilling to make any.
To the person who linked to the FREEP story about COBRA -- it's reporter, and the poor lady who chucked COBRA for a pathetic policy with a $10,000 deductible -- seemed to be oblivious to a provision in the stimulus bill. This provision will pay 65 percent of the cost of COBRA for nine months.
ReplyDeleteFYI, Gannett's human resources people are urging folks NOT to continue their coverage under COBRA. I believe this is because Gannett is self-insured, meaning it would have to continue to pay out claims...
I'm glad I could provide some help and some insight. I am in the same position that all employed Gannett employees are in, but I choose to not just sit by and say Thank you Craig, for letting me work for your company. Don't get me wrong, I am very happy to have my health benefits, dental, paid vacation and sick days BUT I can no longer just expect it. I know in a blink of any eye, it could all me gone. I have created my own Web site, looked into starting my own business, where I can also get group health insurance and I am working part-time in a career that is flourishing. All these things will give me a leg up if I lose my job or my salary decreases. We are no longer in an ecomomy where big business will take care of you. They will take care of themselves and we need to have the same mind set. As I stated before, we create our own destiny — we HAVE to. No one else is going to do it. Best of luck to you.
ReplyDeleteThanks for the thoughtful post 10:45. It's nice to see someone encouraging other employees to move forward with their lives.
I am very sorry for your situation. I did not say I did not want doom and gloom, I just stated that all of only hear doom and gloom. I was trying to help others have a positive outlook rather than a negative one. Please try to look beyond your current situation. Maybe it is best to sell your old property rather than renting. Yes, renting can be a nightmare and would not recommend it. I have done the same in the past, but it was a relative that screwed me, so yes, I understand your pain. I am not sure what experience you have or where you moved, but there are jobs out there, at least in this area. I am working fulltime and have a part-time job and have my own part-time business. Maybe I am just blessed. But I also could be you if I lost my full-time job. Please, try not to give up hope. I will keep you in my prayers and hope that you find a way to come home to your family and friends. No one is discounting your pain and loss. I am not here to cause pain. I am trying to help others help themselves. I certainly do not have all the answers. I just want to provide some positive insight. I think doom and gloom is not good for any of us. I get depressed all the time. I am trying to help myself and others to look beyond Gannett and realize that each of us has the potential to survive without them. I wish you the best my friend.
ReplyDeleteSorry 10:45 that you don't want "doom and gloom" but...you asked.
I'll tell you what I did. I moved 1800 miles away. 1800 miles from all my friends, family and everything I know. I rented out my house to tenants who checked out fine on credit and criminal...then proceeded to destroy my house and bounce rent checks.
I don't know anyone here. Yes, it's cheaper. No, there are no jobs here either. (Let's face it, there aren't any anywhere) we're all miserable and hate it here but it was this or foreclosure. And no, I did NOT live in a home I couldn't afford. It's actually paid off (I'm 56) But who can even afford East Coast property taxes on unemployment? My house is (was), very conservative, no penny-millionaires mansion.
Yes, we moved to a nice enough place but it hurts to leave kids, grandkids, aged parents, friends for 30+ years and the security of home.
I'd love to paint a pretty picture but that's basically the reality of the situation. I hope Mr. DuBrow enjoys MY retirement. Him and the guys at AIG, Bank of America, Chase and all the rest of them..