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Thursday, January 17, 2013
66 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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if stock hits $20 SELL !!!
ReplyDeleteFrom an investor perspective, I think management should serious consider outsourcing all the local papers to the good folks in India or China. I would just cut all the local newsfolks and really only keep staff on the printing and sales side. I would milk the installed base for everything they are worth. Keep prices the same, but cut the heck out of the cost of content and give them blogs, AP, and user generated content. Positive cash flow is golden right now.
ReplyDeleteYou're a bit late as Gannett tried off-shore ad building and purchased newsprint from China years ago.
DeleteIn my case, virtually everything we got back from India had to be done over. Big cost-saving there: work being done twice, and with a now lesser window in which to do it? I described this in detail to the powers-that-were. I tried to help the off-shore to improve their work. All that happened with that was they took me off from any constructive feedback to India and gave that oversight to someone else who then promptly marked practically everything as being just fine even when we were re-doing work. Why, I asked. That person's reply was,"Because they don't want to hear anything else but that it's fine." Perhaps that person thought it was a prudent job-security strategy. Meanwhile the ratio of late projects increased. The blatant failure of Gannett's offshore strategy of course was not blamed - that might mean the idiots who came up with a contract with a massive center with cheap wages and high churn (let alone speaking English being a challenge for many), maybe those idiots were, well, idiots. So, in true Gannett style, they blamed the folks back onshore, placing immense pressure on the site's real talent who had always been top-notch (even at bare-bones staffing, locals having lost their job to India...), now rushing to re-do India's work. Ah, the elephant in the room.
DeleteGannett stopped offshoring ads over 2 years ago. The relationship didn't work for anyone. Sometimes contracts have to be honored no matter how much they piss you off.
DeleteThe Eddie Lampert SEARS/KMart model. Sell off all the hidden assets and milk the brands for cash flow.
ReplyDeleteThey're already doing that. Notice the real estate sales over the past couple years.
DeleteFascinating things about Sears (Holdings). See if these remind you of another company that time seems to be passing by.
1) SHLD trades at about 25% of its all-time high.
2) SHLD has a market cap of $4.9 billion.
In the early 90s, over three consecutive years, the top retailer by sales in the US was:
Yr 1: Sears
Yr 2: Kmart
Yr 3: Walmart
Two of those companies today have a market cap equal to their assets, with little to no enterprise value whatsoever. The third company has a market cap of $230 billion, or 46 TIMES the value of the other two.
Two of the companies stagnated as time passed them by. The third grew exponentially by understanding what people needed and wanted, and GAVE IT TO THEM. Didn't feel the need to constantly insult the intelligence of its customers.
Lessons abound.
Walmart is a terrible citizen. They abuse people, and milk the welfare system. Keeping employees broke enough to need public healthcare. Market cap of 230 billion, and keep their employees in poverty. Great example. I'll chose to work for a company that doesn't do that.
Delete5:07 PM - BS
DeleteTo GCI management: Lets to a stop to the slow drain on print product, even though print accounts for over 70% off all Gannett profits, why continue to run it into the ground. Just shut down all print sites and see what type of cash you have coming in after that move. You are clueless (top idiot leaders) You have no vision, and your employees have no clue why you are doing this, it sure is not to make money in the short or long term
ReplyDeleteNo matter how hard you stomp your feet, or how deep you bury your head, GCI management's alleged lack of vision does not account for the obsolescence of newspapers nor the collapse of the newspaper industry.
DeleteThe scene - the Hilton bar in McLean, next to the Gannett building. The group - executives from the East. The time - December 2010. We drank a toast to a recently completed project that none of us wanted to take part in. A $500,000 waste of money on a redesign of the newspaper using marketing headlines similar to TV News. As we drank, we discussed the end. How quickly it would come, who should get out now, who could afford to wait and see. Now, a mere two years since that fabled meeting, all of us are gone and the soul of the company is vacant. As Gannett assumes the fetal position and awaits death, at what point can we define exactly when the balls were cut off?
ReplyDeleteWell, the stock price today is higher than it was in December 2010, so I'd say those of us who choose to be here think the company is better off without your forlorn negativity.
DeleteCouldn't agree more. Some bitter people like to congregate here. Let's all agree that corporations have no soul. Gannett is no better, no worse, than the others. Yes, Gannett and other big new organizations are going through a tough transition. But print is still important and it is not going away over night. At USAT, there are a lot of bright young people working hard to put out a good product online and in print. And there are still a lot of veterans working alongside them as mentors and supervisors. Do we still have some some drones? Yes. But, again, Gannett and USAT are not unique. You find a Dilbert-like atmosphere every where. What's sad about reading some comments here: A number of folks, now outside looking in, just can't let go and move on with their lives.
DeleteFirst of all, you didn't choose anything, much less whether you are still a Gannett employee or not. Gannett chose to not lay you off and probably increase your hours worked with no increase in pay. Therefore making you cheaper labor. Second of all not all corporations treat their valuable employees like disposable trash. I know this through personal experience. So you don't need to praise Gannett for being so kind to let you keep getting your pay check and to have you kissing their boots as you do so.
DeleteWell 9:18, one hopes you don’t make all your equity purchases on that basis.
DeleteNot that you’d notice, but interest rates still hovering at historic lows – and no change anytime soon, is why some play with Gannett. Its long demonstrated, renewed eagerness to consume itself (slash staff, content and more) to deliver short-term gains at its future health and expense is why even more drop cash in this stock.
However, if you think Gannett’s anything more than a short-term play you’re delusional. Then again, you’ve already confirmed that by confusing valid shots at decisions and moves this company has made as negativity. Frankly, if more people (especially in top ranks) risked being “negative” with some of the decisions and moves it made, Gannett wouldn’t have left billions on the table.
FOR SALE ! Gannett (GCI) stock options now available to be exersized:
Deleteoption price $59.96, $60.29 and $87.33.
get'em while they're HOT !
Hello 10:18 a.m., this is 9:59 a.m. People actually do choose to be here. And people do choose to be hired here, which is, by the way, happening again. Nobody is kissing boots here. People I know have practical reasons for staying. We do get it that we could be laid off or furloughed, just like at many firms. By the way, gentle readers employed elsewhere, I wouldn't become too complacent about your situations just because your corporate leaders happen to be in humane mode for the time being. It's ultimately a cold corporate world everywhere. In closing, and with respect 10:18 a.m., you are entitled to your rosy views of corporations and to your repugnant opinions of people still working here . Thank you.
ReplyDeleteHow generous of you.
DeleteI have just cancel my subscription to the Journal News - I am not a pro gun person, but I think they went to far even if the information they published
ReplyDeletewas legal. They are exploiting the Newtown shooting
because they are anti-gun. Goodbye Journal News!
I have cancel too the Journak News after 8 years !
ReplyDeleteToo many big words?
DeleteI just changed my subscription to daily + sundays from sundays only. Way to go Journal News.
DeleteAll your base are belong to us.
ReplyDeleteDamn right. Zig.
DeleteDes Moines Register just put up a picture of the current "Dear Abby" rather than the founder who just passed away. She was an Iowa Native. Great Job!
ReplyDeletehttp://www.desmoinesregister.com/
They got it changed relatively quickly....still not a good showing by the DMR.
DeleteSecond house on Journal-News map broken into, guns stolen:
ReplyDeletehttp://newyork.newsday.com/news/nation/journal-news-map-listed-guns-permits-stolen-from-new-city-home-cops-say-1.4463741
Once again, written by the same former employee. At least this time he points out that police say there is no evidence the crime was related to the map and that police believe the house was not targeted. Another cheap shot by a desperate competitor. Feel sorry for the reporter.
DeleteDesperate competitor, now that’s comical as if any one entity showed desperation – and a thirst for commercial gain, it was The Journal News.
DeleteAnd, that desperation hasn’t gone unnoticed by New York’s state legislators and its governor who just signed a new gun bill into law with the “Journal News” clause that reportedly prohibits all journalist from ever getting that information again.
So, if you’re in a mood for feeling sorry, try feeling sorry for those entities who used that information to support real, in-depth reporting, not Gannett who arguably used it for the main purpose of more profits.
Speaking of Iowa, the Cedar Rapids Gazette laid off several people in newsroom today.
ReplyDeleteGannett is a case study of managing for decline. Absent true entrepreneurship, executive competency and an arms-length board of directors, GCI is floundering from quarter to quarter and duping Wall Street with laughable notions about its fab game plan. Rather than waste more profit on acquisitions that go nowhere or fizzle, GCI should either invest in its news-gathering strengths or start shopping for high bidders for its parts. As it is, there is simply nothing impressive or outstanding about GCI, USA Today, Deal Chicken, ShopLocal or any of its other ventures. Everything it touches goes to hell.
ReplyDeleteYes, Gannett has "managed for decline" — and as a result, unlike many of its peers, has managed to stay out of bankruptcy court. Hint: That's a good thing.) As for the ludicrous claim of "duping Wall Street," in fact what the company actually has promised is pretty modest.
DeleteNow, genius, we'd love to hear you identify a comparable media company that successfully followed your prescription of investing in "news-gathering", or that created value by breaking up at a time when print properties are essentially worthless.
USA TODAY Sports is making a comeback. Breaking some stories, being topical again. Gotta find a way to bring in more revenue for all the big salaries, but the new regime has made some strides. If I'm wrong, please set me straight and use examples
ReplyDeleteIn a comment like this, it's always helpful to cite some examples (ideally with links) of better sports coverage.
DeleteIt really doesn't matter anymore 3:28. Tens of thousands of us have gotten out of the habit for buying USAT, or even looking at it online, after seeing years of decline. News, biz news, life and sports have all dropped dramatically. Our habits have changed and it will be hard for USAT to get us back.
DeleteI agree with 3:28. I've bought a couple to read over lunch the past two weeks, and I've seen some good enterprise. The Hal Mumme coaching tree story was a good example. Heistand getting Stu Scott good as well.
DeleteSpeaking of Sports only... they were out in front of the Lance Armstrong story ... the website is updated much more often and quicker with timely information on current events. ... Sports on Earth is a good website with some great writers and reads. Don't like the name, particularly, but it's a good read. ... Love the iphone AP and website. I read it exclusively online, never see a printed copy...
DeleteRevenue for Sports is less than what it was when USAT traditional team handled sales. So, when you add 100 new people and get a decline in revenue, it's not a sustainable model.
ReplyDeletethat's too bad because the product has improved
DeleteThe police say they believe that there is a link between map and break-ins.
ReplyDeleteNow 2 times with similar scenarios. Too much to be coincidental.
Did you read the story? Police say the two are NOT connected.
DeletePolice said they couldn't prove they were connected. There's a big difference. But really, c'mon, how many gun burglaries have their been in that area in the last year?
DeleteNow there have been two in a week and both residences were included in the interactive gun map published by The Journal News. The first was in a neighborhood in which there had not been a burglary in 25 years.
DO the math.
THIS is bad.
7:02 cannot do math. His brain and his pee-pee are both tiny.
DeleteI happen to live in the neighborhood where the first burglary took place. my house was burglarized in october, along with several others. burglaries in white plains doubled last year. someone (a reporter maybe?) should check with police before publishing incorrect information from a neighbor who obviously is angry about the map.
DeletePretty sure a lot of the anti-TJN posts other the past few weeks have been angry gun owners, many of whom have never even been to Westchester County, or former employees.
DeleteThe following resonates more with readers than Banikarim’s love for USAT’s balls….
ReplyDeleteUSAToday, America’s placement for free continental breakfasts.
Courtesy of The Five
Second robbery of a gun map house in the span of days. Nothing about it on Low-Hud. Bottom line - Journal News strategy to deal with its incompetence continues to be hide, deny and be delusional.
ReplyDeleteLet's all repeat together - hide, deny and be delusional.
HIDE, DENY, DELUSIONAL!
DeleteThis comment has been removed by a blog administrator.
DeleteActually, the story is on LoHud, it just doesn't have the misleading headline that Newsday has. You might look before you comment. You'll look less like a buffoon.
ReplyDeleteNice try. We all know the delusional band of incompetents at Low-Hud are the ones who not only look like buffoons, but are.
ReplyDeleteJust looked. The story IS on loHud.
DeleteMaybe someone needs to see if these burglaries are hoaxes (40 percent of home burglaries are insurance fraud)and are being reported by gun-owners to embarass The Journal News.
DeleteThat goes beyond delusional! Journal News' remaining staffers give new meaning to the term "IN DENIAL"!
DeleteI do t get why posters are turning on their fellow reporters. Ok hate on the editor and publisher but why the venom focused on the general staff? Now you just hate on anyone?
DeleteBecause JN staffers won't admit that the map decision was a disaster. Instead they are acting like lemmings - spinelessly accepting the senior management strategy of hide, deny and be delusional. OWN UP!
DeleteThis comment has been removed by a blog administrator.
DeleteI heard Low-hudders will have to reapply for their jobs for a third time. Line up on line lemmings! What other option do you have? Have a spine? Nahhh.
DeleteGannett employees don't have a spine, anything similar to a backbone or self esteem.
DeleteThey just keep on giving their souls to a corporation they despise and who cares nothing whatsoever about them.
That is spineless.
This sounds a lot like the hate mail the paper got from the crazies.
DeleteI would like to welcome all the wing-nut NRA readers to the blog. FYI Westchester county is just above NYC.
DeleteUSAT is amazing . Just ask the 1000 of housekeepers who throw it in the trash every day. Go Heymer!
ReplyDeleteEven English papers are jumping on the Journal-News robberies story:
ReplyDeletehttp://www.dailymail.co.uk/news/article-2264194/Burglars-steal-guns-home-listed-controversial-weapons-permit-map-published-newspaper-just-days-similar-break-in.html
Cedar Rapids Gazette in Iowa laid off 10 yesterday
ReplyDeletealthough you won't find it published or on website or their sister TV station.
Editorial and sales were hit.
Jim Romenesko confirmed.
There's a lesson for reporters in the whole Manti Te'o story.
ReplyDeletehttp://www.chicagotribune.com/news/opinion/editorials/ct-edit-manti-0118-jm-20130118,0,3895287.story
But then when facts get in the way of a good story, screw the facts and write the story anyway.