Thursday, June 25, 2009

Layoffs | Your pension, on credit-default swaps

Floating villa: The truly ginormous yachts are too big for Ibiza's slips. For a sense of scale, those black "bumpers'' hanging from the port side were about five feet long.

Gannett's fortunes are now in the grip of global investors who dabble in credit-default swaps and other esoteric hedging plays, trading while at sea using laptops tapping the Web from satellite connections. This is not a red-carpet crowd that cares much for legacy costs such as the First Amendment -- or you.

While snapping photos at 7 p.m. yesterday at the harbor in Ibiza Town, I watched a young woman and her friend casually decamp from one of these enormous private yachts. She was chatting on a cellphone cradled in a fluorescent-yellow protective case. Her flats looked like Chanel ballet slippers. And her dark-blue blouse was adorned with tiny images of a pirate's skull-and-crossbones. I don't think she saw me from behind her Jackie-O sunglasses.

As a smart friend in Boise once said, "You gotta take advantage of a lot of people to pay for something like that." (Note: I get around Ibiza on a bicycle or on foot.)

Earlier: Gannett schedules second-quarter earnings release for July 15

Related: The disputed etymology of the term posh.

Please post your replies in the comments section, below. To e-mail confidentially, write gannettblog[at]gmail[dot-com]; see Tipsters Anonymous Policy in the green rail, upper right.

[Photo,
inset: That's me, reflected in the highly-polished endcap of one ship's gang plank]

10 comments:

  1. Why on earth do we care?

    ReplyDelete
  2. It is so time for this blog to be over. I am sick and tired of having to sift through posts on this Ibiza thing looking for Gannett news on the GANNETT BLOG!!!!!!!!!!!!!!!!!!

    ReplyDelete
  3. Then start your own Gannett blog. Until then, stop whiningg -- or go away. This is my Gannett Blog, and I offer it free of charge. From where I sit, you're an ungratefful moocher.

    ReplyDelete
  4. Nothing is as it initially appears. Soon you will grow unhappy with Ibiza's fat cats & kittens who pay you no respect as you trudge by on your bicycle. And then it will dawn on you that they are much like the upscale gays around whom you've fashioned your future.

    ReplyDelete
  5. But I'd rather be on that boat than Gannett's Titanic.

    ReplyDelete
  6. Love it, Jim. Keep it up, and keep reminding the bitchers who rules this blog! I'll sure miss reading your posts and your professionalism.

    ReplyDelete
  7. Is that you in a reflection? It's kinda creepy in a stalker kind of way.

    ReplyDelete
  8. Jim said...
    Then start your own Gannett blog. Until then, stop whiningg -- or go away. This is my Gannett Blog, and I offer it free of charge. From where I sit, you're an ungratefful moocher.

    6/25/2009 6:47 AM

    I may be ungrateful but I'm not a moocher. That would assume I'm actually getting something from this, which I am not.

    ReplyDelete
  9. 5:15 pm: Other than a place to return to over and over to whine about me, of course!

    ReplyDelete
  10. 2:58 pm: You missed the cutline at the bottom of the post: [Photo, inset: That's me, reflected in the highly-polished endcap of one ship's gang plank]

    ReplyDelete

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."

Note: Only a member of this blog may post a comment.