Fact is, we know a lot less about GCI's current financial health than we would have just five months ago. That was before Chief Financial Officer Gracia Martore (left) cut off the long-published monthly revenue summaries, just as ad sales and the economy headed off a cliff. The result: We're already two months into this first quarter, with the final month starting today, and we can only guess at how bad things might be.Had Martore listened more closely to Wall Street analysts objecting to Corporate's ending the summaries, today's investors and employees would have more facts to make more informed choices. But she did not, adding to the growing secrecy on The 11th Floor.
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No news is good news, I guess!
ReplyDeleteNo news simply means the Boneheaderati are retrenching in their Fortress of Flagellation, unwittingly cooking more schemes to drive the Company deeper into the serf turf.
ReplyDeleteOf course Martore pushed for releasing less information. You can't be held accountable if no one knows what you're doing.
ReplyDeleteSpeaking of accountability, does anyone know if Martore and her minions are participating in the furloughs?
Oh, we could find out how things went in January and early February really easily.
ReplyDeleteAre your editors refiguring their budgets? Did they make "adjustments" at the end of January? Something waiting for repair, like the copier? Supplies getting low? Maintenance waiting?
When things are bad in Gannett, editors and publishers make instant spending and staffing changes to stay within their already tight budgets.
Lets use our intelligence - the ship was sinking. The ship is sinking, The ship will sink. Did I miss anything?
ReplyDelete10:09 a.m. Let's just say our site won't be buying any paper clips in March. Fix the copier? There might be one somewhere in the building that still works. Yes, we see the writing on the wall.
ReplyDeleteI find it galling that I'm about to receive my annual evaluation from lapdogs of what has by now demonstrated itself to be one of the most incompetent corporate managements in the country. No doubt I'll be told, as usual, what a lousy job I'm doing.
ReplyDeleteMartore's hiding of monthly revenue reports is beyond incompetent. It is criminal. The shareholders must be fools to put up with that. But then anybody who is a shareholder under present circumstances is a fool anyway.
Jim: Can you provide info on Gracia Martore's background? What role did she play in Gannett's successful years? Has she worked anywhere else but Gannett? How did she become so powerful? Does she have any journalism background? I know she earned an undergraduate degree from Wellesly College and that she used her Gannett perk to make a donation to that impovrished (NOT!) institution. In short, who is Gracia?
ReplyDeleteIf you stacked up the awards Martore has earned in the financial community it would be higher than the Gannett towers. Face it, everyone dislike bean counters. They have jobs that are not only difficult but impossible. I'm laughing at the criminal comment about not releasing hourly dispactches on the financials. If that were remotelly the case then nearly all of the fortune 500 companies would be in the same corral.
ReplyDeleterumor has it that most or all gannett site purchased their first quarter supplies in the 4th quarter of last year. doesn't sound like much but for a corp as big as gannett it "could" make a significant blip in numbers for the quarter.
ReplyDeleteany thoughts
az pressman
Yo 5:08 pressman, welcome to the real world. This happens every year. I repeat, every year. You guys are just so busy throwing star nails and chanting respect and dignity that you don't really know how a business runs. But nice try at uncovering a "conspiracy."
ReplyDelete