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Monday, October 17, 2011
25 comments:
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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When Gannett threw the baby out with the bathwater and dumped MomsLikeMe.com - a renegade band of moms went back to the original http://delawaremoms.com/ -
ReplyDeletehttp://www.gannettmcnews.com/
ReplyDeleteCan you spell ...TANKING...Boys and Girls.
ReplyDeleteHow were the numbers for the Des Moines Register this quarter? Jackson? Rochester? Arizona?
ReplyDeleteThey never reveal the numbers by individual property, just an aggregate number. That is closely held information.
ReplyDeleteI call bullshit on Gracia. This is from her introductory remarks on today's earnings call:
ReplyDelete"As a result, we are participants in and advocates for our communities. These deep, long-term relationships are rare in media, and we will safeguard and build upon them as we continue to evolve our businesses to be more digitally focused. It is through this deep, rich engagement at the local level that we are also able to help our advertisers."
Deep, long-term relationships? When you cycle through a new executive team every two years?
When you cut the people who *have* been engaged in the local community for the long-term?
That is just the most egregious kind of shit served up on a shingle to the investment community.
Spoken by someone who's spent his entire career in one town.
ReplyDeleteNo, I've jumped around. But I wasn't out there making grand pronouncements about my long and deep commitment to the community.
ReplyDeleteAt Florida Today, design has been outsourced to Tennessee. USA Today production shipped to rival paper in Orlando. The staff has been decimated and now on some days only one "local" story (if you can call them that) in the entire front section. Is this Martore's example of "deep rich engagement at the local level?"
ReplyDeleteIn this quarter's report,is the 9% print revenue decline the worst ever ?
ReplyDeleteI recall that normally the revenue declines have been in the 6 % range.
Jim,have you charted the declines by quarter over the last 3 years or so?
It seems that top management would be OK with the 6% drop.This looks like a disaster could happen.
Anyone with a stake in this company should pay heed to the fact that its price-to-earnings ratio of now below 5 puts it just outside the graveyard wall.Management talks a big game, but nothing ever sticks. I've seen their web sites and aside from decent-looking high school sports coverage, I don't see the "deep and rich" local coverage that Martore mentioned on the call today. They should be all over the small and medium sized markets they dominate. Right now they look like Barney Fife and his one bullet in his pocket guarding the hen house. Wouldn't be surprised to see some private equity action here or an activist shareholder to kick some ...
ReplyDeleteOCCUPY GANNETT !!!
ReplyDeleteNothing quite as funny as getting a Monk-E-Mail from Craig Dubow.
ReplyDeleteGracia was marvelous in the company wide call today. Not the earnings call, but the one for employees. It was a superb effort.
ReplyDeletescrew gannett, jump shit!!!!!!!!!!!
ReplyDelete6:58 Could you be more specific?
ReplyDeleteshe had one good moment when she said people would be rewarded for taking risks, not penalized. otherwise, a replay of the conference call, but with less time for questions.
ReplyDeleteI agree that Gracia put on a pretty good show for the employees. At the very least, she is a much more passionate and engaging speaker that Craig could ever hope to be.
ReplyDeleteOne of the questioners asked if it was true that the blue ball was gone from the 11th floor. She laughed and said that it was, and added that it is a piece of art and is being treated accordingly. She also said there aren't too many people on 11, and it gets a little lonely, so people are welcome to come up, and her door is always open.
McLeaners, report back if you take her up on that.
Anyone who knows how Wall Street works knows that Gannett discreetly coached analysts to expect the 44 cent EPS mark. Essentially it lowered the street's expectations to the point where Gannett could make a splash on announcement day by "meeting" or maybe even "beating" the expected 44 cent level. Most offensive of all, Gannett was able to earn 44 cents only because it continued to lay people off, sell assets, not invest in equipment and training, and pay insultingly low mileage reimbursement for use of employee vehicles. By propping up its profits by means other than selling more products and winning more customers, Gannett management is able to maintain the cash flow so's to keep stuffing bills in their pockets.
ReplyDelete7:29 You are correct. To be sure, all public companies try to manage earnings expectations. What puzzles me: How do they do this without violating SEC Regulation FD?
ReplyDeleteWhat's the latest on the search for a new editor in Nashville? Hasn't it been open for quite some time?
ReplyDelete7:21, it's a well known fact that the 11th floor is lonely because no one wants to go up there. It's actually creepy that the staff can view who's stepping off the elevators before you walk over to the offices.
ReplyDeleteAt least Gracia is trying. I will give her that. Most of the others could give a crap about the employees. I hope she at least is breaking down the good old boy network and opening the lines of communication. We can all be negative but lets at least try to be somewhat positive and see what happens. Give her a chance if she is BS like the rest than so be it. How could it be worse than Craig Dubow!
ReplyDeleteCan anyone talk about what is going on at WXIA regarding video ad production - is this going to be for digital, broadcast or both???
ReplyDelete@11:18 - I hear the new video ad hub at WXIA is being headed by one of Payne's new direct reports, a former Turner guy named Allay Metha. It will create, gather, curate and distribute video from/to all across the company and handle partnerships with external video content producers. Metha is head of what they are calling consumer platforms, so other areas will report to him, not just video.
ReplyDelete