CEOs always talk to Wall Street in the most glowing terms possible -- no matter how bad their companies' financial results. Craig Dubow is no exception. Following are excerpts of statements he made at the annual end-of-year media stock conferences since he became chief executive in 2005. These include last Wednesday's UBS Global Media and Communications Conference.One of his remarks below came during the worst year in Gannett's history. Another came during a year of record revenue results. Across the six conference dates, GCI's stock closed at a low of $8.61 and a high of $60.33. Can you match the quote to the year in 2005-2010?
"This past year went very quickly for those of us at Gannett, mainly because we have been very busy. . . . We knew this was a time of great opportunity for us, and we stepped up."
"This has been an exciting, challenging year for Gannett. And while we couldn’t have foreseen all that has happened -- particularly in the economy -- we knew Gannett had to change to appeal to more customers and more advertisers."
"We, as a company, have faced tough times before and know how to manage through them."
"All of those pessimistic news reports are really missing the point of a period like this in our industry. Underlying it all is huge growth, both in the number of people using various forms of media and in the opportunities for a company like Gannett -- one that knows how to seize the day, then manage well."
"We told you some time ago about our plan to position ourselves for the future in an ever changing media landscape. That plan, simply, is to enhance our profitable core operations and build a world class digital business. . . . We have come a long way toward achieving those goals despite these trying economic conditions."
"Although the economy has been moving at a somewhat uneven pace, at Gannett we are moving steadily ahead with important changes to our business operations. In fact, [this] has been a significant year for us on several fronts and we are a stronger company now than we were just twelve months ago."
(For answers to this quiz, click on the numbered hyperlinks.)
Related: remarks at last week's UBS event by Dubow and all the other GCI executives
This guy is a master of inarticulate bullshit.His type of leadership is indictative of upper management at this company. Asskissers, yes-men and do-nothings.
ReplyDeleteSure that boy didn't get his bachelor's in BS?
ReplyDeleteSounds like that to me. In fact, he may have gotten a masters in shoveling!
Anyone who knows anything about the company has to laugh.
ReplyDelete"Seize the day and manage well"??????
You gotta be kidding!
One question: Has this man read anything by Peter F. Drucker?
ReplyDeleteDid he add his famous quote, "we have to be nimble?"
ReplyDeleteWhat absolute garbage. Gannett has led the newspaper industry by imposing cuts that directly affected content by reducing staffs in newsrooms and eliminating editing positions. Yet these steps were taken at a time when newspapers faced their greatest challenge ever from content-rich Web sites. You see the results today in tepid and even boring coverage or no coverage. This is hardly a nimble response to an advertising drought. It was purely illogical panic and it has hardly made us prepared to take the opportunities an economic recovery would bring, but so weak and feeble we cannot take advantage of it.
ReplyDeleteA BA in BS. Priceless @4:20!
ReplyDeleteCraig & Co. will be laughing all the way to the bank AGAIN. What kind of justification will the useless board of directors use this year to justify raises and bonuses? Let's see; "The management team is leading the effort to transform BLABHBAHBAHBAHB."
ReplyDelete"In uncertain econmic ties, Dubow's management team is building for future successes."
Lay it on. In other words, this UBS presentation is just a preview for what's to come. More excuses for what's been, more rewarding for hollow promises of what will be. These guys missed their calling. They should either be evangelicals with their own tv shows or politicians.
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ReplyDeleteIt never ceases to amaze me....these execs are able to make the very same excuses they would never accept from the people who work for them. Gutless...all of them.
ReplyDeleteHurray for content free statements.
ReplyDeleteLike all good things, the Dubow tenure is coming to an end. Too bad he's not taking everyone else with him. Where is Carl Ichan when you need him? He'd have 90% of upper management on the next Greyhound bus outta town.
ReplyDeleteWhatever became of that study Dubow was working on so hard that he handed over the presidency to Martore?
ReplyDeleteDubow's only got a couple of weeks before leaving for the farm. It would be a shame for him to depart without dropping off his observations (and those of his highly paid consultants).
Will this be the final argument for cutting another 5,000 or so folks from the community newspapers?
Dubow isn't standing in the way of job cuts. He's standing in the way of a competent manager coming in and cleaning house. And no, it's not Gracia.
ReplyDeleteI hear Gracia is trying to get on Wellsley's board. Another $100,000 or so in Foundation earmarked money ought to do it. Maybe her corporate lackey's can pool contributions to help her get matching money.
ReplyDeleteCraig, can you put the Ipad and other toys down for a couple of minutes and think about what you say before you open your mouth? How about manning up and acting like a CEO for a change? You've had the job long enough to get it together.
ReplyDeleteIn the real world, Dubow would be selling ads for the third rated TV station in Cheyenne, Wyoming.
ReplyDeleteCowboy Craig would still be in Laramie.
ReplyDeleteDoes anyone out there know what exactly it was that endeared Dubow to McCorkindale?
ReplyDeleteHow did Dubow "rise from the ranks" over so many others?
I'm not being a wise guy here. I'd really like to know what Dubow achieved before landing in the throne.