An independent journal about the Gannett Co. and the news industry's digital transition
Just a clarification from the last thread ... the fourth quarter could be many days, but Sept.1 is not one of them.
The 4th quarter is ( for those math challenged) is Oct thru Dec. So layoffs could be pre-fourth quarter,during fourth quarter so that the year ends with expenses down.Or post fourth quarter to start the year with no meat left to cut.
8:56 Gannett's fiscal quarters are not the same as calendar quarters.The company divides its fiscal year into 12 periods, which roughly correspond to the 12 months. But they aren't identical.For example, period 10 might start Sept. 30 and end Oct. 29. Period 12 could start Dec. 2 and end Dec. 30. The change from year to year.
Jim ,But roughy the months are same as calendar,just might be different days to accomodate the 52 weeks.Some months have 5 weeks for revenue counting in budgets.
Jim, you're correct. In fact Q4 usually ends before Christmas, unless it's the year where P12 has 6 weeks (which only happens every 6-7 years).
But for layoff purposes the 3 month quartersare always the same.So be ready for pre-fourth quarter layoffs.That quarter begins Octobergive or a take a publishing week per above time table.
Courier-Journal ran a full-page house ad Sunday, signed by Arnie Garson and Bennie Ivory, announcing a new expanded TV listing section and, oh by the way, the death of the old, free TV section. If you want the new one, it's an extra 25 cents per week. The rationale behind it is that the old, free one is so bad it is no longer worth a crap and hence not worth publishing. The new one, on the other hand, will be much better and hence worth charging extra for. Extending this line of reasoning, one can expect to see a policy of charging for the Friday features section, which now incorporates elements of the old, free Saturday scene section and the defunct free Velocity weekly tab, neither one of which was really worth much. Or perhaps a new, improved, value and fee-added sports section, to replace the current section, which has less local stuff and more USA Today content all the time. Are we on a slippery slope to a la carte newspapers??Can't find anything on the C-J website aboutthe new TV thing, so no link.
United StatesThe U.S. government's fiscal year begins on October 1 of the previous calendar year and ends on September 30 of the year with which it is numbered. Prior to 1976, the fiscal year began on July 1 and ended on June 30. The Congressional Budget and Impoundment Control Act of 1974 stipulated the change to allow Congress more time to arrive at a budget each year, and provided for what is known as the "transitional quarter" from July 1, 1976 to September 30, 1976. As stated above, the tax year for a business is governed by the fiscal year it chooses.For example, the United States government fiscal year for 2011 ("FY 2011" or "FY11") is as follows:1st Quarter: October 1, 2010 - December 31, 20102nd Quarter: January 1, 2011 - March 31, 20113rd Quarter: April 1, 2011 - June 30, 20114th Quarter: July 1, 2011 - September 30, 2011http://en.wikipedia.org/wiki/Fiscal_year#United_States
Gannett's fiscal begins January.
Not much good news out there today about newspaper advertising.
I have no idea what's going to happen at USA TODAY over the next four months. But it is just a little concerning how they're going to pay for all those new VPs, not to mention the sagging YL vertical they are shoring up with new hires and the new offices being built out for Heather and Co.
@11:08 a.m. There's not much good news to be found about anything in the American economic sphere unless you happen to be in the top 2%.
Layoffs will come in December. But if ad revenue does not meet projections @ Usa Today, furlough announcements to be made after Labor Day. They cannot be implemented any later because of December vacation and expected layoffs. This is why Hunke could not tell staffers otherwise at last week's staff meeting. Susie Ellwood has been looking at salaries and staffing since she got here.
Hey Jim, how about changing the Home Page . It's getting a little old.Doug
This is a nice gesture: The Newseum’s 9/11 Gallery, sponsored by Comcast, is the first permanent museum exhibit about the terrorist attacks. Gee, thanks, Comcast.Still, it's time to check on how their finances are faring these days. They claim year over year attendance is up, but how about actual revenue? There are so many cut rate deals, from kids free to groupon, that you have to wonder if they are making any money.And if the new guy replacing Overby is going to lop off some over paid FF executives.
Hey, Jim - what happened to the earlier post about the C-J TV section? Twas there briefly - now it is no more.
From politico.com today:Newspapers face more pain aheadNewspaper advertising revenue faces a grim outlook in the third quarter, after a slate of companies reported significant drops in ad revenue in the second quarter, The Wall Street Journal reports.The Journal, it seems, remains a rare bright spot, but ad revenue dropped slightly at The New York Times (less than 1 percent) and 6.5 percent at Gannett. In most cases, gains in online ad revenue offset drops in print, but the Journal points out one notable exception:Among the hardest hit in the most recent quarter was The Washington Post Co.'s flagship newspaper, where print advertising declined 12% to $66.6 million for the quarter. And unlike at many of its peers, the digital business was no help. Ad revenue at the company's online publishing unit, which includes the Post's website and Slate, fell 13% for the quarter.
Any of those present for the T-31 meeting last week make any announcements about what went on at the meeting? Our representative at the meeting in the building on Friday and then went off on furlough. (Yep, I guess some of the Gannett outposts are still doing that.)
First performance from USAT's new VP, Marketing at the Pubisher's update was a dud. So what does she follow-up that sterling performance with? A rules and regs e-mail on what not to do when working with her department. That's strike two. We need a VP for this?
1:36 It was briefly stuck in a spam folder. It's now posted.
@2:23 Can you share this email with the rest of us? It sounds amusing.
In the vein of the newspaper biz going to hell. No room for fleeing USAT staff at Wash Post. They got rid of about 200 people through buyouts and some layoffs about two years ago. Newsroom is still about 500 people and rumor is that at least 200 will be laid off in coming months. The paper's content has taken a nosedive. Cash cow Kaplan education is going downhill after being exposed as a for-profit ripoff. The people left at the Post have tried their best, but you are stuck with mediocre third generation publisher and detached mediocre editor who got millions in buyout money when he left the Wall Street Journal. WaPo web design stinks under new managing editor who won't hire people who don't have twitter accounts. No problem, but journalism is being devalued in favor of tech tricks. Brass will have financially comfortable lives no matter what happens. But look out working saps in all departments....
3:06, where is this expose about Kaplan? Does it exist? If so, why not cite it?
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There is a new Pulitzer Prize category for next year, sponsored by Gannett: "Best Investigative Tweet."
3:59 From the Washington Post Co.'s second-quarter earnings statement:Education division revenue totaled $628.7 million for the second quarter of 2011, a 15% decline from revenue of $742.9 million for the second quarter of 2010. Kaplan reported second quarter 2011 operating income of $20.5 million, down from $112.4 million in the second quarter of 2010.Kaplan Higher Education has implemented a number of marketing and admissions changes to increase student selectivity and help KHE comply with recent regulations. These changes, along with generally lower demand, have resulted in a 47% decline in new enrollments versus the prior year.
Hi, 3:59...NYT: Scrutiny Takes Toll on For-Profit College Company (sad to see Don Graham try to defend something that can't be defended):http://www.nytimes.com/2010/11/10/education/10kaplan.htmlThis embarrassed the Post into doing its own story: Hard lessons: The trials of Kaplan — and the education of The Washington Post Co.http://www.washingtonpost.com/business/the-trials-of-kaplan-higher-ed-and-the-education-of-the-washington-post-co/2011/03/20/AFsGuUAD_story.html
Best Investigative Tweet is a little to ambitious for Gannett. They're going for the Best Nightclub Slideshow.
While our tv section often only has 1 ad in it, if we tried to charge .25 a week for it, there would be a crowd of senior citizens at the front door with pitchforks and torches! Any increase in revenue would be offset by a loss in circulation. It just would not make $ense - which means it probably will be implemented soon.
Jim - the Goldline Banner ad featuring a picture of Glen Beck makes my stomach churn. I don't think you can control banner ads, but I wouldn't trust an advertiser that uses Beck in a ad.
http://seekingalpha.com/article/288882-4-companies-standing-on-very-shaky-ground?source=yahooGannett stock listed as "stay away"
The Newseum is offering free admission on Sept. 10th and 11th, 2011.Unfortunately I'll be poolside and can't make it!
My boss, what's the deal? Layoffs in fourth quarter? Need to plan ahead, although I already am.
9:34 AM said: "Jim, you're correct. In fact Q4 usually ends before Christmas, unless it's the year where P12 has 6 weeks (which only happens every 6-7 years)."Actually, the occasional P12 has 5 weeks in it, not 6. The first accounting period of each quarter (P1, 4, 7 and 10) always has 5 weeks in it (20 weeks); the second and third periods each quarter have 4 weeks in them (32 weeks). This totals 52 weeks most years, except the occasional year with a 5th week in P12.
@11:03. Sorry, but you're mistaken. P12 had 6 weeks in it 2-3 years ago, just as it does every few years to "balance the calendar". Those of us on the advertising side are VERY aware because it affects revenue expections, goals, etc., etc. Trust me, I know of what I speak...in Gannettland anyway, and in my whole career, which wasn't always Gannett. The P1, 4, 7 & 10 is not the way the calendar was distributed at all properties. In fact, it was P3, P6, P9 and P12 where I was, with P12 still having 6 weeks every few years.
No wonder we are in such trouble with people bickering on the blog about the Gannett Calendar. Four, 13-week quarters make up each year following the 5-4-4 week model as outlined by 11:03. Occasionally Period 12 (December) has an extra week because there are 52.142857 weeks in a year.
@10:06 AMRE: "Extending this line of reasoning, one can expect to see a policy of charging for the Friday features section, which now incorporates elements of the old, free Saturday scene section and the defunct free Velocity weekly tab, neither one of which was really worth much."I used to edit Velocity, and we lost some good people when it was closed. If you feel this way, put your goddamned name on the comment, asshole.
9:33 PM Great link! Nice to see Gannett made the big 4... http://seekingalpha.com/article/288882-4-companies-standing-on-very-shaky-ground?source=yahooGannett stock listed as "stay away" and Dewbutt thinks his performance warrants millions of bonus dollars! Incredibly delusional or just an incredible crook? Pathetic.
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."
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