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Wednesday, March 22, 2006

Somethings Got to Give

After a little research I see why many are selling Tribune stock. Here's a few of the reasons below.

Morningstar Alert

TRB

03-20-06 09:07 PM Change in this year's EPS estimateThe current fiscal year consensus EPS estimate for this stock has changed from 2.03 to 2.00. For details, go to http://quicktake.morningstar.com/Stock/earningsestimates.asp?Symbol=TRB


Morningstar Alert

TRB

03-20-06 09:07 PM Change in next year's EPS estimateThe next fiscal year consensus EPS estimate for this stock has changed from 2.12 to 2.10. For details, go to http://quicktake.morningstar.com/Stock/earningsestimates.asp?Symbol=TRB



Moody's may downgrade Tribune ratings

03-17-06 11:22 AM EST

SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday placed Tribune Co.'s (TRB) A3 senior unsecured long-term debt ratings on review for possible downgrade. The review doesn't include Tribune's P-2 commercial paper rating, the agency noted. It's prompted by Moody's ongoing concerns about the outlook for the newspaper sector, combined with increased event and risk as well as Tribune's high debt burden vs. operating cash flow for its A3 rating following the debt-financed Matthew Bender and Mosby tax liability. Moody's said the review will focus on Tribune's ability and commitment to materially reduce debt over the next 18 to 24 months, and its ability to improve its operating trends and margins. The company's ability to mitigate event and risks surrounding the newspaper industry will also be considered.

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With so much bad news at the Tribune the past few years, is it any wonder so many workers are looking to union involvement.

I'm hearing more of my co-workers say we have nothing to lose by forming a union, but is that really the answer? I think not. I myself was a union member with the GCIU for several years, helped organize three campaigns, that failed. I'm no longer pushing for a union at the Los Angeles Times.

Yet, when I mentioned that many former Chatsworth employees gathered at Chili's last Sunday, management questioned if this was a union meeting? It was simply former co-workers getting together for a few beers, and nothing more.

If I was advertising some type of union meeting, I would simply state it here. I'm fairly upfront about things, no need to hide or pretend, as I see it.

As the company stock continues it's decline, many are wondering how much further we will cut, by downsizing the work force? The grapevine at the newspaper is saying another round of cutbacks will be coming our way this July. Again I say, maybe that statement of further cutbacks was a slip of the tongue last year, later retracted by AP, as a misquote?

Time will tell.

Eddie

3 comments:

Anonymous said...

Hey Ed hows it going !! ...just would like to get an " answer " if you will. If we ( times employees - pressroom personal )have been getting hammered shortchanged ( not including Mtg) and you see that not having a Union is the " answer " ...just what is YOUR
answer ( please explain ) If you have one

Anonymous said...

Hi again Ed hows everything !! I just need a question answered.If newsday can hammer out a contract during these " trying times " ( even when mtg. was caught "fixing the books " ) why cant we do the same ?? ( ever think about that ?? )

Ed Padgett said...

Well my friend, I do not have the answers for your questions at this moment.