tag:blogger.com,1999:blog-8099437767970534324.post834065508598861261..comments2023-11-05T06:26:51.316-05:00Comments on Gannett Blog: Mail | Profit 'expected, required and rewarded'Jim Hopkinshttp://www.blogger.com/profile/16712746705871119746noreply@blogger.comBlogger24125tag:blogger.com,1999:blog-8099437767970534324.post-24133509908615593002011-01-29T18:13:05.387-05:002011-01-29T18:13:05.387-05:00Forgive me if i'm wrong Jim, but isn't the...Forgive me if i'm wrong Jim, but isn't the job of the CEO, COO, CFO, and Board to increase shareholder value? What has this group of "clowns" done for Gannett since they took over? How come they haven't been fired yet? I only see Gannett going downhill and fast. The Journal News in NY gets smaller and smaller each week, with little advertising. USAT, where I worked Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-44420300988487116472011-01-28T22:16:51.345-05:002011-01-28T22:16:51.345-05:00I suspect 9:47 meant Jeffrey HEINZ, director of in...I suspect 9:47 meant Jeffrey HEINZ, director of investor relations.Jim Hopkinshttps://www.blogger.com/profile/16712746705871119746noreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-89891625657206714602011-01-28T21:47:42.813-05:002011-01-28T21:47:42.813-05:00Several of us analysts do read this blog and are k...Several of us analysts do read this blog and are keenly aware of Gannett's problems. Thank you to Mr. Hopkins and all the employees that contribute to this blog as it is very helpful for our analysts to triangulate information we receive from Mr. Heinze, Ms. Martore and Mr. Dubow.<br /><br />Please keep it up.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-53268305409382265782011-01-28T20:15:02.783-05:002011-01-28T20:15:02.783-05:00What would a pro-Gannett blog do? Would it not per...What would a pro-Gannett blog do? Would it not permit comments on layoffs the company doesn't acknowledge are happening? Would it permit scathing criticisms of the board of directors and company leadership. Would it permit puff pieces on Dubow and Gracia, detailing their greatness and contributions to journalism.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-30171649434976079102011-01-28T15:33:07.023-05:002011-01-28T15:33:07.023-05:00In theory, a Pro-Gannett blog would be interesting...In theory, a Pro-Gannett blog would be interesting to read, but in reality, it won't happen. <br /><br />Wouldn't work, mainly because honesty and integrity are not characteristics of the company and leadership. This company manages through fear and intimidation, and it's not open to differing ideas.<br /><br />If a Pro-Gannett blog gets created, readers/employees will see it for Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-89148767214494100182011-01-28T13:48:28.793-05:002011-01-28T13:48:28.793-05:00I've been passionate about journalism for 20 y...I've been passionate about journalism for 20 years and loyal to this company for 10. For the first time in my career, during which I've fought to remain optimistic, I'm starting to lose hope on both fronts.<br /><br />Btw, Jim, I've been a near-daily reader of yours for years and this is my first comment on your blog. Thank you for the watchdog service you provide.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-6386072621887703502011-01-28T13:37:46.612-05:002011-01-28T13:37:46.612-05:001:09 and 1:21 Indeed, I would quote from and link ...1:09 and 1:21 Indeed, I would quote from and link to a blog produced by Corporate. In fact, it may be that the rumored redesign of Corporate's website will include an official Corporate blog.<br /><br />Another blog about Gannett doesn't have to be "pro" in the very traditional sense. It could simply offer a different view from this one. The trick, however, is to find 1) SomeoneJim Hopkinshttps://www.blogger.com/profile/16712746705871119746noreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-78587580817675541862011-01-28T13:34:26.541-05:002011-01-28T13:34:26.541-05:00Thank you, OP, I have been preaching this for year...Thank you, OP, I have been preaching this for years. Wall Street has become a very fickle, demanding and ugly mistress.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-71004375992665831972011-01-28T13:21:38.403-05:002011-01-28T13:21:38.403-05:001:09, the reason why there isn't a pro-Gannett...1:09, the reason why there isn't a pro-Gannett blog is that they don't have any good news to trumpet. It would be a blog full of useless drivel like "transformation", "verticals", "diversity" and other corporate gobbledygook.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-42956985287704673852011-01-28T13:21:11.177-05:002011-01-28T13:21:11.177-05:00There is much that's good and correct in this ...There is much that's good and correct in this thread, starting with the comment by 1:55 p.m. that gave birth to it. It is, indeed, management's legal responsibility to maximize shareholder value, as 1:55 p.m. well describes. Clearly there is a conflict inherent here with news values. Some are better at it than others. I've worked in Gannett, Knight Ridder and Lee newsrooms. Where Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-63102855334606760632011-01-28T13:09:36.454-05:002011-01-28T13:09:36.454-05:00Some thoughts:
* I wonder if our "transformat...Some thoughts:<br />* I wonder if our "transformation" will eventually resemble what Kodak has/is going through. When film was king, they employed 70k-plus in Rochester and beyond. They invented the digital camera, yet almost threw it away because the money was still in film and leadership couldn't fathom people preferring this quick, easy and evolving technology over tried, true Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-72235131668615683042011-01-28T12:12:24.410-05:002011-01-28T12:12:24.410-05:009:04 AM - You are definitely mistaken when you say...9:04 AM - You are definitely mistaken when you say, "but companies generally buy back stock in order to save the cost of paying quarterly dividends. Its all about the cost of borrowing now vs cash outflows in perpetuity." While that may be a true result under some circumstances, it is never the reason... Their are only 2 real reasons a company ever buys back its own stock 1) They want Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-2355154543946969932011-01-28T11:59:38.474-05:002011-01-28T11:59:38.474-05:00The difference between Gannett and basically all o...The difference between Gannett and basically all other media companies, (i.e. News Corportation, Disney, etc.) is that Gannett never has had any "real" innovators or any "real" business people running the company since Neuharth. Gannett did well in the past because all newspaper companies did well in the past, leadership quite frankly was optional and a monkey's ass couldAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-19881474583082288462011-01-28T11:56:24.007-05:002011-01-28T11:56:24.007-05:005:45 PM
Thank you for the excellent post. The mo...5:45 PM <br />Thank you for the excellent post. The most intelligent posting I have seen in a while.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-79653546349664969142011-01-28T09:04:05.369-05:002011-01-28T09:04:05.369-05:007:16, agreed with the rest of your post, but compa...7:16, agreed with the rest of your post, but companies generally buy back stock in order to save the cost of paying quarterly dividends. Its all about the cost of borrowing now vs cash outflows in perpetuity.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-16297591082751657242011-01-28T07:02:43.716-05:002011-01-28T07:02:43.716-05:00As the Dylan song says, you gotta serve somebody, ...As the Dylan song says, you gotta serve somebody, so it's foolish to rail at Wall Street or heap all the problems Gannett faces on it being a public company. The alternative is family ownership or an oligarchy, which can be just as perverse as we have seen as second and third generation owners have blown up their father's/grandfather's company.<br />Wall Street ownernship has the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-60644611266933182242011-01-27T20:17:55.431-05:002011-01-27T20:17:55.431-05:00In the scenario outlined by the poster, no conside...In the scenario outlined by the poster, no consideration is given to the fact that this strategy is certain to reduce revenue. Stockholders pay as close attention to revenue statements as they do to profit statements. The sweet spot is a company that is both growing revenues and growing profits. A company that is growing profits but not revenues is a declining company, and that will be reflected Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-7084378397438951132011-01-27T19:25:58.195-05:002011-01-27T19:25:58.195-05:00The big wigs didn't do what was necessary to s...The big wigs didn't do what was necessary to serve either the stockholders or the readers. They did what was necessary to serve themselves.<br />Nothing else. And that obviously continues to this day and probably will into the foreseeable future.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-90524565666662960552011-01-27T19:16:10.493-05:002011-01-27T19:16:10.493-05:00If the CEO, etc. are all supposed to be looking af...If the CEO, etc. are all supposed to be looking after the shareholders, what were they thinking when they borrowed more than a billion bucks to buy back stock that plunged to near oblivion?<br /><br />That was one heck of a gamble that obviously didn't pan out.<br /><br />And now Martore, the CFO at the time, is headed toward the CEO chair? Shareholders should be outraged!<br /><br />The Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-39730052782838330972011-01-27T18:14:29.653-05:002011-01-27T18:14:29.653-05:00Maximize shareholder value? The stock has gone fro...Maximize shareholder value? The stock has gone from $80 to currently $15 under this leadership and its vision-less approach to running Gannett.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-31373117155710457482011-01-27T18:08:55.068-05:002011-01-27T18:08:55.068-05:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-37887444403853284532011-01-27T17:52:16.932-05:002011-01-27T17:52:16.932-05:00"Everything else is secondary." The last..."Everything else is secondary." The last time I heard that being in a gutter was secondary was in the movie "Little Big Man."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-67691786767474036762011-01-27T17:45:06.927-05:002011-01-27T17:45:06.927-05:00If this were all true, how come it doesn't hav...If this were all true, how come it doesn't have the same impact on the executives who run the New York Times, or on Rupert Murdoch, who runs a public company? Murdoch, in particular, has used this recession to expand dramatically his operations, buying the WSJ, doling out $30 million to start up the Daily, a local-oriented Web publication, plus his other operations. The NYT used this Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8099437767970534324.post-83692846446374622572011-01-27T16:17:19.678-05:002011-01-27T16:17:19.678-05:00Yet for all the "maximizing" of profits,...Yet for all the "maximizing" of profits, shareholders will ultimately hold stock worth nothing, as Gannett is only a position to chase an ever shrinking piece of pie. It's not good for shareholders.Anonymousnoreply@blogger.com