Following are select remarks by U.S. newspaper division President Bob Dickey (left) and other top executives about the economy's condition over the past seven months.
"The overall economy is still fragile with a number of business uncertainties."
-- Dec. 1: Dickey, in a memo to division employees, announcing another round of unpaid furloughs for the first quarter.
"We need to keep in mind that the economy continues to be fragile so it is essential that we remain vigilant in our efforts to manage costs and continue to create greater efficiencies in all that we do.''
-- March 16: Dickey, in a memo to employees, ruling out furloughs in the second quarter, and no planned division-wide layoffs.
"We are well positioned for continued growth as the economy improves and we are extremely encouraged by the revenue trends and our ability to create and capture operating leverage."
-- April 16: CEO Craig Dubow, in a statement to investors in the first-quarter earnings release.
"We continue to make fundamental changes to better align our core operations to the changing business environment."
-- June 7: Dubow, in a statement to media stock analysts at the Sixth Annual Noble Equity Conference.
"In publishing, we continue to see improving trends and the percentage decrease in revenues is anticipated to be in the low-to-mid single digits.''
-- President Gracia Martore, in the statement to the Noble Equity Conference.
What Gannett Execs really think about the changing economic scene: I'm just hoping to maintain my ridiculously large salary and benefits package for a few more years. After that, I'll be set and the business won't much matter.
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