The board of directors is scheduled to convene Tuesday and Wednesday for a much-anticipated meeting where members are expected to consider cutting the dividend. Investor relations chief Jeffrey Heinz just gave me those correct dates, after a reader told me the schedule had been set. In a phone conversation after I made this video, Heinz declined to give the board's agenda, however.
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Thursday, February 19, 2009
8 comments:
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Jim --
ReplyDeleteCutting the dividend is a sign that things are bad. But things are bad all over. Other companies are doing this too. The economy sucks.
I guess I just don't understand the tone that by doing this the board is doing something they shouldn't be doing. Or that there is something underhanded about it. When times are tough, tough measures have to be applied.
Don't get me wrong, I am a supporter of both you and this site. But if what they are doing is wrong, what would you suggest happen to keep the company viable?
gci got hit again. it's all the talk about the dividend.
ReplyDeleteLook at that dividend report Jim linked to, and you see they have NEVER cut that dividend. It went down only with stock splits. That is more than 40 years of history of increasing the dividend, or leaving it alone. This company would have no respect on Wall Street if it cut the dividend.
ReplyDeleteCraig Dubow will be ousted next week and receive "lovely parting gifts."
ReplyDeleteToo little and WAY too late. But the board feels compelled to act - for its own protection - given the continued decline without even a hint of stabilization from a key / critical revenue source.
Not sure about the fate of Gracia Martore. Depends on how much "blood is spilled" during the meetings.
Look for further job cuts and furlough (or like) programs in the coming quarters. Gannett is fighting for its very life, and has waited too long to either sell some of its properties or itself.
Why should the Board be chauffered to GCI in limousines?
ReplyDeleteCBS and The New York Times companies just cut their dividends. CBS shares jumped on the news. Gannett will cut the stock next week.
ReplyDeleteWow. What a scoop. Board meets next week.
ReplyDelete(It has been set for a year).
Here's another scoop. They will have lunch and dinner at their meeting. The nerve of those vultures.
ReplyDelete