An independent journal about the Gannett Co. and the news industry's digital transition
At least one Gannett Blogger said over the weekend that the board of directors is meeting today. Can anyone confirm that?
Question for the board? "USA TODAY WEEKEND" the little mag that Gannett throws in their Saturday papers> They paid 150 million for it from CBS. Does anybody have any idea of what it is worth now, if they would decided to sell it?
I believe the board always meets the first full week of December. Among other things, I believe that's when they approve bonuses and stock awards to corporate employees.
Can anyone out there tell me how your weekly or weeklies are run? Just curious.
Gannett posted job openings of for "Design Studio Director" on the SND website. These are the 5 top positions to lead the five design hubs across the country. Do they really need to look outside the company to find five top design editors? Disrespectful?
Does any body know about a vote on C.P. agreement ?.
11:20, what is the cp vote and about what? By the gannett board???
In New Jersey the weeklies are staffed by the same people that do the dailies.
Yes, the Board is meeting this week.
10:05 and 12:23, our weeklies are staffed separately, but the weeklies staff members all also write/edit for the daily product.
Can't believe we haven't seen a furcation memo.Maybe after the bored meeting?
New e-edition rolled out in Rochester this morning. Full color pages exact as paper edition.Pages can be turned and very easy to read....Is this happening at any other sites?
there is any word about lay-offs?
Look, take it for what it's worth from another anonymous source on here -- but there are NO mass layoffs planned for the rest of the year. A few jobs here or there might be consolidated, sure, but no major action is coming. And honestly, if it were happening, people would have heard rumor by now.
In New Jersey the weeklies are staffed by the same SLAVE REPORTERS who put out the dailies. You can understand now why so many reporters have left for places like the Patch, etc. They just beat you to hell and make everyone feel replaceable, regardless of your talent, work ethic or creativity. It is pathetic. Period
How can anyone believe there will be no more layoffs?Sure,there may not be thousands at one time to attract attention.How else does Gannett make up for all lost revenue??If you believe this,you are in a dream world,which is what Gannett wants you to be believe.Then you will continue working your buttoff because you believe you have a future with the company.
to 6:21pm, If you worked for the Arizona Republic, work was pretty much optional just showing up and collecting a pay check was status quo, so even though we had furloughs and I was eventually cut, I definitely wasn't working my butt off. LOL
Come on My Boss, no specifics? That's ok. The board is meeting tomorrow, Dec. 7 also known as "a day that will live in infamy...", and then its off to the UBS conference in New York. Everytime Gannett talks to Wall Street analysts, the stock drops. Hope to be proven wrong on this but that little voice keeps telling me to "sell" BEFORE they open their mouths Wednesday.
7:32: That comment is bulls---. Yes, there are some who coast by, but most of us work our a--es off, go home with stress headaches and get up the next day and do it again.
3:06 -- I believe you that there are no mass layoffs planned for the rest of the year. It's December 6. What you're saying is there are no mass layoffs planned for the next 24 days. The layoffs will come in 2011. Nobody doubts that, do they?
"7:32: That comment is bulls---. Yes, there are some who coast by, but most of us work our a--es off, go home with stress headaches and get up the next day and do it again.12/06/2010 8:59 PM"....... If you are working your ass off at the Arizona Republic I feel sorry for you, because nothing will come of it and nobody notices.....better to take the pay and do nothing and be let go than work your ass of and collect the SAME pay and still be let go, peace man. :)
Why work your a--- off? They are obviously paying for substandard work, so give them substandard work. If you are suffering from stress, then slow down.
Right on 10:05am Holla
So truly witness and observe the the complete and utter incompetency of upper management at the Arizona Republic is truly a study of insanity running rampant in a public corporation..... If only Wall Street, analysts and others in the financial world truly knew how unorganized and incompetent Gannett management is the stock would be at $1.... I have seen financial reports that never jive and it is almost as if figures and revenue is made up/created.... can you say ENRON... LOL :)
GCI the stock spiking higher and there's plenty more to come. Gannet's share of Careerbuilder in an IPO could be worth $900 million, or nearly 40 percent of its entire debt: http://www.thestreet.com/_yahoo/story/10940553/1/analyst-time-for-a-careerbuilder-ipo.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
Gannett's outstanding debt at the end of Q3, 2010 was $3,694,477,000... so $900,000,000 would be 24.36% of it's debt not 40% you might want to get your numbers correct. 12:24pm
12:24 no matter what that article says, nobody is going to be interested in an IPO for careerbuilder there is way to much downside; as is Gannett's way "that shipped sailed along time ago." and another opportunity is lost.
The math is wrong because GCI ownes 50.8% of CB
and to follow up on what 12:46pm said, the 900 million would be pretax, so after corporate taxes you are looking at something in the 12% - 20% range of outstanding debt. Don't be fooled by this up tick in GCI's stock, the market is ticking up as a whole and the stock is building on the expectation of good news at the conference, which may or may not be good.....the thing to remember about GCI is that it is a good day trading stock but for long term capital appreciation it is a dead stock.
12:55pm whose math is wrong?
and to support what was just stated.....don't forget that GCI is a broken business model and there is nothing changing at the company, so long term the only option is for the stock to go down, along with revenues, credit rating and everything else.
Anonymous said...The math is wrong because GCI ownes 50.8% of CB You don't seem bright so let me explain the math to you on a 4th grade level. According to the article the author estimates careerbuilder would get between 1.5 and 2 billion in an IPO so with GCI's 50.8% stake and averaging in the estimated IPO of 1.75 billion....50.8% equals about 900 billion..... so then you divide 900 million by their outstanding debt of appx. 3.7 billion and that equals about 24%... I case you are still confused 900,000,000/3,700,000,000 = .2432 or 24 percent.... hope that helps.. LOL
1:04pm you are right on... looks like you had a typo on the 900 billion, but you are correct.
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1:16, the poster with the 900B must be from GCI acct. department.
No, 12:46 p.m., you need to get your numbers straight. Or so Yahoo Finance data would suggest. They report that GCI debt is $2.46 billion and $900 million divided by $2.46 billion equals 36.6 percent. And the $900 million figure for GCI's 50.8 percent of Careerbuilder might actually be low. Hate the company if you want or must, but let's report accurately.
Oops. I should have said debt is $2.42 billion,according to Yahoo Finance, which actually drives the percentage higher.Interesting response to my original post. Being anti all-things-Gannett isn't a requirement for posting here but it certainly seems to be a prerequisite for being welcomed. I thought journalism required a thoughtful consideration of problems from all angles?Disclosure: Hate the company, which fired me, but love the stock, which has provided me with enough capital gains in the last 18 months to buy a house for cash.
Ok, let me get this right, GCI should sell CB to reduce it debt by 36.6% Really?? Why? It is forecasted to have double digit growth, why would you sell the only thing that growing at that rate?Besides, if they sell it, all of those really smart people in McLean, VA would get a really big bonus and it would not leave very much for paying down debt.
ok 1:36pm you are obviously lying about earning enough short term gains to buy a house for cash - unless it is a box in Detroit - because you can't even read a balance sheet correctly..... long term debt is about 2.4 billion, however, their other liabilities (i.e revolving credit lines) are about 1.3 billion so amount outstanding it about 3.7 billion. Think of it this way the 2.4 billion owed is like their mortgage and the 1.3 billion is their credit card debt....it's still money owed. It seems alot of people seem to miss this fact.
and to you 1:39pm careerbuilder actually throws off very little cash (in the scheme of things) and the fact that it is only half owned by GCI dilutes that further....they would be better off divesting themselves of the turkey if it went as an IPO.... like most other assets they own....careerbuilder is like AOL.
There is no way they'd sell careerbuilder. Why screw with aprofitable digital asset? Rather, sell all the non productive newspapers and tv stations.
1:46-I'm not the poster who made the statement about earning enough capital gains but.....If i had bought $20,000 of gannett when in 2008 @ $1.36 and sold at $15.00 this year i could have bought a house too... not an implausible scenario.But it didn't. I'm bummed.
Is there any way to find out how Gannett, (Tallahassee) is doing with their print and new online subscriptions. Are there other Gannett properties doing this or about to launch. January initiatives are probably right around the corner. If not, does it mean the test is failing?
People here should never try to comment on issues like finance, long-term debt, or benefits. They always get the details wrong, and then they muck up the thread with silly arguments about who is wrong.
They would sell CB if they figured it was worth more to them to have the cash than just to sit back and take their share of the revenue. There is a risk that sitting still will only allow others to enter the field with something new. Look at Groupon, which got into a very crowded field with a new wrinkle that worked. With an IPO, they could still own shares in the company, but let it develop on its own without Craig and Gracia approving every move.
I agree with 9:23.If you believe you can comprehend the very complex Gannett finanace structure,you should be pursueing your career as a MBA ,and not in the Gannett world of employment or unemployment.So let's just stick to the issues we might understand,like will there be more end of yearlayoffs !
For Part 2 of this comment thread, please go here.
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