tag:blogger.com,1999:blog-8099437767970534324.post8264255138957369134..comments2023-11-05T06:26:51.316-05:00Comments on Gannett Blog: Breaking: Gannett says July's revenue fell 12.3%; no change in downward trend; USAT improvesJim Hopkinshttp://www.blogger.com/profile/16712746705871119746noreply@blogger.comBlogger40125tag:blogger.com,1999:blog-8099437767970534324.post-21163367886228218612008-10-24T14:09:00.000-04:002008-10-24T14:09:00.000-04:00Yes, profits in Guam, Palm Springs and Green Bay a...Yes, profits in Guam, Palm Springs and Green Bay are all still "about" 40%. A year ago, they were at 50%. The good ship Lollipop isn't listing, it is sinking. <BR/>Stay with the ship, Cap'n Craig.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-20610124366726246322008-08-23T17:42:00.000-04:002008-08-23T17:42:00.000-04:00@9:49 am asked: "Why won't Gannett give online rev...@9:49 am asked: "Why won't Gannett give online revenue figures? Just knowing how many people viewed pages doesn't say much, does it? Wouldn't that be like a merchant reporting how many window shoppers it had, but leaving out sales figures?"<BR/><BR/>Earlier this spring, I asked company spokeswoman Tara Connell a related question: Why did the company stop publishing U.S.newspaper online growth Jimhttps://www.blogger.com/profile/16651269559205765985noreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-55505927376008635132008-08-23T13:07:00.000-04:002008-08-23T13:07:00.000-04:00My observation is that once it gets to the third o...My observation is that once it gets to the third or fourth generation after a newspaper founder, the family loses interest in newspapering. The founder's son wants to continue his father's legacy, and his son is also brought up in the business, but by the fourth, interest really wanes. There are also by that time a bunch of second and third cousins who inherited shares in the newspaper, but are Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-25179275889352017872008-08-23T12:49:00.000-04:002008-08-23T12:49:00.000-04:00Both chains and independent papers are suffering f...Both chains and independent papers are suffering from the same problem: the failure to get younger readers. They were so greedy in the good times that they neglected outreach efforts to ensure there would be a new generation of newspaper readers. It's too late now, as you see kids with Ipods and laptops finding their own ways of getting information newspapers used to provide. Less than 16 percentAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-10294911108527652822008-08-23T12:43:00.000-04:002008-08-23T12:43:00.000-04:00In the past, the advantage of a chain was that it ...In the past, the advantage of a chain was that it could help absorb the regional recessions. Newspapers become very costly in recessions because of all the labor costs, but chains can shift money from prosperous papers to those in temporary trouble. This recession is unusual because it has hit two huge profit-generating areas __ Calif. and Fla. -- together, and there is clearly a fundamental Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-67410557417811372122008-08-23T09:49:00.000-04:002008-08-23T09:49:00.000-04:00Why won't Gannett give online revenue figures?Just...Why won't Gannett give online revenue figures?<BR/><BR/>Just knowing how many people viewed pages doesn't say much, does it? Wouldn't that be like a merchant reporting how many window shoppers it had, but leaving out sales figures?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-20437341178334475562008-08-23T01:20:00.000-04:002008-08-23T01:20:00.000-04:00several issues resulted in longterm owners selling...several issues resulted in longterm owners selling their papers to Gannett. Infighting among family members, estate tax issues and an inability to fund modernization by accessing credit markets. In some cases the families didn't want to take on the massive debt so they sold. The major advantages of being with Gannett is access to capital interest free. Consumables such as newsprint, Ink, plates Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-79757552400311071732008-08-23T00:28:00.000-04:002008-08-23T00:28:00.000-04:00Some great info and insight here -- thank you allSome great info and insight here -- thank you allAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-53759199924126425242008-08-22T22:53:00.000-04:002008-08-22T22:53:00.000-04:00Sometimes I like to argue with co-workers that our...Sometimes I like to argue with co-workers that our little newspaper would be better off without gannett. I often wonder if that is really true.<BR/><BR/>Anyone have any idea what 'benefits' a local newspaper would be getting by being a part of the slowly sinking gannett?<BR/><BR/>cheap content? reduced manufacturing costs? or are the little papers just paying dues to be part of a club thats Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-3238430310338975142008-08-22T20:47:00.000-04:002008-08-22T20:47:00.000-04:00Shutting down Mondays would be a death rattle.Shutting down Mondays would be a death rattle.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-3713953032426744522008-08-22T20:06:00.000-04:002008-08-22T20:06:00.000-04:00The suits can forget about their bonuses with this...The suits can forget about their bonuses with this debacle. And yes, I expect further layoffs and cost-cutting of the payroll in coming months. I do think they will increase the ad sales force, but the information centers are really going to be punished. Bet they also look at uncoventional cost-cutting measures, such as contracting out printing operations and eliminating ad-light Monday papers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-21248375532793517532008-08-22T19:44:00.000-04:002008-08-22T19:44:00.000-04:00So excuse me for my economic ignorance, but if Gan...So excuse me for my economic ignorance, but if Gannett were to lower their profit margins would that mean those BIG salaries and bonuses in Va. would be either frozen or reduced? If so, you can bet they will continue to slash payroll with more lay offs to come.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-80687610849851212382008-08-22T18:00:00.000-04:002008-08-22T18:00:00.000-04:00I knew that any discussion of profits would eventu...I knew that any discussion of profits would eventually bring an Exxon comment. We need to understand that newspapers are not oil companies or any other manufacturing business. Oil company revenues continue through thick and thin because people need their product 24/7/365. Newspaper profits fluctuate wildly, from a license to print money in good times, to almost break even in bad times. Thus to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-50824560733471022622008-08-22T15:59:00.000-04:002008-08-22T15:59:00.000-04:00I work at one of GCI's "struggling" properties in ...I work at one of GCI's "struggling" properties in the community newspaper classification. We reported a net profit of around 30% in 2007.<BR/><BR/>We just laid people off.<BR/><BR/>We're panicking over what management says is a catastrophic business collapse.<BR/><BR/>Maybe we'll drop to 29% this year.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-14830204947549261482008-08-22T14:54:00.000-04:002008-08-22T14:54:00.000-04:00For seven months of the year to date, total revenu...For seven months of the year to date, total revenue fell 9.7 percent to $3.95 billion.<BR/> <BR/> Gannett is still making a lot of money. Given the pull back in ad spending by retailers with the down economy, it seems the declines are not that out of line with the market.<BR/><BR/>Source: CNNMONEY.comAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-17098119592748611382008-08-22T14:43:00.000-04:002008-08-22T14:43:00.000-04:00USA Today does not suffer from the mass erosion of...USA Today does not suffer from the mass erosion of classified ads to the web at the same rate as the local papers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-52599061618572943162008-08-22T14:34:00.000-04:002008-08-22T14:34:00.000-04:00I don't believe the USA Today column. How could th...I don't believe the USA Today column. How could they go from down 26.5 percent in June, to down 5.5 percent in July? I think some of the figures are being shifted around here. If the community papers have seen a steadily increasing decline in revenues, USAT should also. I have been thinking about this, and I really don't recall seeing any remarkable increase in ad pages last month, and the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-37783925559423100782008-08-22T14:32:00.000-04:002008-08-22T14:32:00.000-04:00USAT looks pretty good considering the incredilbly...USAT looks pretty good considering the incredilbly down ad market in general.<BR/>And when compared with other newpapers and pubishing companies, these latest numbers are pretty good.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-64282460677042551162008-08-22T14:19:00.000-04:002008-08-22T14:19:00.000-04:00No, as I understand it, the write down of assets w...No, as I understand it, the write down of assets was an accountancy issue to try and correctly price the value of Gannett properties. It is required by accountancy rules for publicly-held stocks to prevent Enron-like overestimations of values.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-72943893874424242172008-08-22T14:16:00.000-04:002008-08-22T14:16:00.000-04:00Wow, that means I worked at two of the three Ganne...Wow, that means I worked at two of the three Gannett papers to lose money, including the only one that was shuttered. They must have been happy to see me go.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-53187830514329347222008-08-22T14:12:00.000-04:002008-08-22T14:12:00.000-04:00In a normal recession both energy and newsprint co...In a normal recession both energy and newsprint costs would nosedive saving the big G ten's of millions of dollars. Just the opposite has occurred this time.<BR/><BR/>Other than Detroit and Little Rock the only Gannett newspapers to lose money were Westchester during the Wall Street downturns and the smaller sites that had to modernize to print USAT. The depreciation burden was so much for these Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-14794331545419628902008-08-22T14:10:00.000-04:002008-08-22T14:10:00.000-04:00Look at the trajectory of the total revenue column...Look at the trajectory of the total revenue column, and it is steadily down every month January to July. If it keeps on at that path, there obviously will be even more layoffs or else there can be no more GCI.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-38267632968860696022008-08-22T13:56:00.000-04:002008-08-22T13:56:00.000-04:001:28 pm: One thing I would add is that in times wh...1:28 pm: One thing I would add is that in times when the economy slumps, newspaper production costs -- payroll, newsprint and distribution costs -- really shows. In the past, newspaper companies have been able to hunker down and breeze through recessions by keeping expenses down and perhaps even imposing a temporary hiring freeze. But this time, the economic downturn is coming in the wake of Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-59143092446949879922008-08-22T13:44:00.000-04:002008-08-22T13:44:00.000-04:00Interesting insights, 1:28 -- thanks.Interesting insights, 1:28 -- thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-48468480472766675342008-08-22T13:28:00.000-04:002008-08-22T13:28:00.000-04:00I'm a former GCI employee who served on four diffe...I'm a former GCI employee who served on four different operating committees. <BR/> -- There indeed used to be a monthly multi-page report, available to some -- but perhaps not all -- publishers that ranked all GCI newspapers by performance -- percentage to plan; gross margin; etc. I do not know if that report either exists or is circulated. One of the earlier comments mentioned that there was.<BRAnonymousnoreply@blogger.com