Tuesday, July 31, 2007
Tuesday Morning Media News
Wayne Beane Update
I'm Watching Your Back
As Joanna enjoyed her beauty treatment I spent two hours having every muscle in my body massaged with hot smooth rocks, which left me sore afterwards, but I slept very well Saturday and Sunday nights as a result. With all the stress at the newspaper, treat yourself to a massage once in awhile; you won’t be sorry, just a little lighter in the wallet.
And speaking about being lighter in the wallet, the Los Angeles Times Security is actively investigating the vandalism occurring at the Olympic Facility. I have contacted Wells Fargo Bank and Washington Mutual for the exact times my cards have been used at Yum Yum Donuts, so Times security can view the video from the merchant to identify the culprit in the thief’s.
I had not even bothered to see where my Visa card was used until last night, and discovered the dummy had used my credit card at Yum Yum donuts twice for charges of $4.08 and $2.98.
Last Friday before the pressroom started the swing shift Dan Lippiatt informed every one of the break-ins at a shift meeting, and urged everyone to file a report with security if they have experienced a loss. Apparently the reports filed with security are but the tip of the iceberg, as many have shared that their lockers have been opened in their absence, but have not reported the break-ins because they felt the company did not care.
One of the main reasons I have this blog is to keep my colleagues informed, so many things are presented here to stay abreast of the industry, and in this case, make all Operation Employees aware of the dangers of storing anything of value in their personal lockers.
Lets hope Times security can locate the thief before a pressman finds them, because some in the pressroom will apply vigilante justice to vent their anger.
Saturday, July 28, 2007
Saturday Night Links
Blogging and the Shifting Definitions of Journalism - Lamar White
Set Your Alarm: Page One Ads Are Coming - Huffington Post
Newspapers earnings: How much worse will it get? - Blogging Stocks
New Competition For 'Metro'? - Philadelphia Will Do
Blogger Luke Ford and KTLA reporter Eric Spillman debate ethics - LAT
Operations Employees at the Los Angeles Times
As the Tribune continues on the downward spiral, especially with double digit decreases in revenue; it will only be a business decision to outsource Operations to trim costs and increase profits. I know what we’re told, that we cannot outsource Operations, but I also still vividly recall being told there would be no further buyouts, four buyouts ago.
Credibility means a lot, which leads to the meeting in which everyone working in Operations was informed their jobs were secure, and all the Times truck drivers and mechanics were let go shortly after the meeting, and outsourced to Ryder Trucking.
Many of the articles I post in the daily links are meant for my fellow workers, especially regarding outsourcing at other newspapers, don’t think for a moment we are not seen as a way of increasing profits, we all have targets on our backs, and will be eliminated when possible.
If you do not believe me take a look to our north, the San Francisco Chronicle, which has a very strong union, will be letting everyone go in May of 2009 as Transcontinental takes over the production of the newspaper.
We have heard for four years that we will be bringing in new products to produce at our printing facilities, yet no extra work has materialized, and most likely will never arrive.
My message to all of my colleagues in Operations, watch your spending habits, cut back where you can, and by all means place your credits cards in a secure place for emergencies only.
An Awesome Experience
Well, I had the opportunity to experience that very same scenario while awaiting my flight on Thursday morning at Ontario Airport. And, I must say it was an experience second to that of seeing my first-born child for the first time! It was one I will never forget.
After giving up my seat on my initial flight (and reaping the benefits for doing so), I was just sitting and waiting for departure, a group of uniformed soldiers entered my waiting section. To see them initially gave me chills, as I wasn't sure if they were there to represent Homeland Security or to report to their assigned duties. Fortunately, they were there to welcome troops returning from Iraq.
As passengers deplaned, they saw an elderly gentleman wearing a veterans hat. They greeted him with handshakes and words of respect. And his smile clearly displayed his appreciation for the recognition he received.
Then, came the troops. OMG! As they exited the walkway from the plane, the chills took over me, the applause began, camera flashes came out of nowhere and tears streamed from adults and children alike.
Afterwards, the troops gathered in a group, listened to their instructions, and were on their way. I have a couple of pictures to post after my return to SoCal.
To see this gives one a renewed appreciation for our freedom and those who make it possible.
God Bless Our Troops!
Friday, July 27, 2007
Friday Night Media News
Santa Cruz Sentinel Shut Down its Presses - SF Peninsula Press Club
Summer Vacation
I hope everyone is having a fantastic summer. I've been busy the last few weeks with my daughter's All Star Softball team. They were a 12U (12 & under) team and they played their hearts out. It was great while it lasted but now it's over.
Now I'm looking forward to spending the remainder of summer enjoying the summer concerts in the park, taking long evening walks and working on my tan on my days off from work.
I hope everyone gets an opportunity to recharge yourself by relaxing, counting your blessings and enjoying all that summer has to offer.
Please pray for our troops...they need our support now that the desert heat is upon them. My son-in-law (currently in Iraq) has said that temperatures during the day can reach 125 degrees! I will not complain about the heat in Southern California as long as I know we have members of our military enduring much more.
God bless everyone!
Jade
LA Cowboy: Unasked Questions About Downtown, Transportation, Housing and Grand Avenue!
LA Cowboy: Unasked Questions About Downtown, Transportation, Housing and Grand Avenue!
San Francisco Peninsula Press Club: Guild fears it may be decertified
The merger would mix non-union employees at the Contra Costa Times with the unionized workers at the ANG papers, including the Oakland Tribune, San Mateo County Times, etc.
After the merger, if the combined news operation has more non-union than union members, the employees can circulate a petition calling for a decertification election of all employees in the bargaining unit. Gammon said Guild officials are counting heads.
Decertification means the Guild would no longer be the exclusive bargaining agent for employees, which would effectively end union representation.
San Francisco Peninsula Press Club: Guild fears it may be decertified
Thank you David Hiller
I have been ever so passionate about the lack of communications given to my colleagues and myself at the Los Angeles Times Operations Departments, my regular readers are aware of this.
Yesterday the publisher of the Times, David Hiller, announced the creation of a tool on the Times Intranet that will allow the workers, without company email accounts, to communicate their ideas to committees and upper management at the newspaper.
GREAT IDEA David, and we thank you.
Where's Boi from Troy?
The script had an error or it did not produce any output. If there was an error, you should be able to see it in the error log.
Message from David Hiller - Publisher LAT
Sent: Thursday, July 26, 2007 1:50 PM
To: zzAll LATimes Employees
Subject: Suggestion Box on TimesLink
Folks,
My experience is that most of the best ideas on changing and improving our business come from colleagues who see opportunities in their dealings with readers, online users, advertisers, other departments, etc. — in other words, their first hand experiences. A lot of you have sent me emails and notes with your suggestions, and I know a ton of ideas get raised directly in your departments.
But to make sure we’re getting as many good ideas as we can, we are implementing a suggestion that came from several of you — creating an electronic suggestion box on TimesLink.
I hope you’ll click on it to submit your ideas, feedback, and insight. If you have a suggestion that will improve our business, save money, increase circulation or revenue, or just make the day to day operations of your department more efficient — we want to know. Also, be sure to pass along ideas and suggestions you hear from our customers, or your neighbors, or things you see competing media doing that we ought to consider.
We’ll take a good look at everything, get back to everybody who sends something in, and put the best ideas into action fast.
As “Times Change,” my guess is experience will again show that you have the best ideas about how we move ahead.
I look forward to hearing from you.
David
Brilliant Move Dennis FitzSimons
Wednesday when the Tribune Company announced historic revenues declines, I fully expected a major sell off of Tribune stock. But Dennis saved the day when he told the world the financing for the repurchase of 127 million shares of outstanding Tribune stock was secured, causing the stock to gain $1.05 for the day.
The last two hurdles for taking Tribune private will be the vote by Tribunites across the country on August 21st, and a ruling by the FCC on cross ownership of media in the same market.
Brilliant move Wednesday Dennis.
Take Back the Times: NYTimes Business Skill, Tribune Ineptitude
This is clear from two articles in the New York Times Business section that ran yesterday. One showed how the managers of the New York Times Co. are quite skillful, while the managers of the Tribune Co. are the numbskulls that we have gotten to know so well.
For additional laugh's, click on the link below.
Take Back the Times: NYTimes Business Skill, Tribune Ineptitude
The Hazards of Outsourcing at the Newspaper
Bill Conover told me his ipod was removed from his locker, John Rickett had $300.00 cash taken from him, Dennis Rios lost his change jar, and the list could go on for many more lines.
I have discovered all the lockers that have been broken into have one common denominator, the lockers were protected with a Master combination lock. Apparently the locks can be disabled with a sharp blow from a heavy object, my Master lock now opens with a strong downward tug, rendering the lock obsolete.
Ed Santos, Bill Conover, and Craig Steer have shown me how their Master locks open with a little tug, as mine does, making our locks nothing more than adornments hanging from our lockers.
The Los Angeles Times Grapevine tells me management is considering outsourcing our security guards again. I say again, because we tried this four or five years ago, and employees lost car stereos, their lunches, and anything that was not bolted down. I’m not implying it was the outside contractor’s, but the thief’s stopped when Los Angeles Times security was brought back to Olympic.
Aaron Proctor for Pasadena Mayor
As a child I could not stand the taste of beets, but as I have aged, they now taste extremely good in my old age. The same goes for politics, I never paid much attention to what politicians said, but now that I’m in my fifties I have developed a taste for what is being said.
Allow me to introduce Aaron Proctor in this short video.
For further information on Aaron Proctor, visit Pasadena's Political Underbelly Blog.
Speculation?
Half have never voted for President.
One hopes it is the same half."
--Gore Vidal, author.
from Dan Poynter's Parapublishing site.
Thursday, July 26, 2007
My Book Is On Clearance
You know you're "out there" once the anthology you're in goes on sale. Experimental Travel is on sale through Lonely Planet, the travel guide company. Yup, it's gone down to $9.99, which means that once this stash is gone, it'll only be found in used bookstores, trashbins, and the homes of travelers who have about forty travelguides all lined up.....
read the rest on my blog! Leave me a note!
Comedy at Biaccis Pizza in Upland
We are headed to Biaccis for pizza, sodas, and comedy, the comedy is free, so join us at 9:00 p.m. tonight. The title will take you to their MySpace page. Tonight's show is hosted by the famous Bruce Jingles, sidekick of Jeff Garcia.
Biaccis Pizza
775 N. Central Ave.
Upland, CA 91786
909-946-0990
Traffic Alert - Downtown Demonstration
Date: August 4th, 2007, 9:00 AM - 12:00 PM
Demonstration: Victory Outreach - Stop the Violence
Location: Figueroa & Pico
March Route:
Northbound Figueroa to 11th Street
Eastbound 11th Street to Main Street
Northbound on Main Street to City Hall South
Event is expected to draw 10,000 people. There are no official street closures at this time, however rolling closures are expected.
Wanted, Old Photographs of Bob Bagwell
Thursday Morning Media News
Wednesday, July 25, 2007
Wayne Beane Retiring this Friday from Olympic
Mr. Beane's primary purpose was orchestrating the the forty-eight inch project, cutting down the width of the Los Angeles Times, at Oly then Orange County.
Goldstein's Article Dropped for Being Innovative
And Nikki Finke has a great follow up which is a must read.
Take Back the Times: Patrick Goldstein's Column Should Run In LAT
[CUT]
It is obvious Tribune thinks Page 1 ads are great. Anything to stem the revenue losses caused by its own downsizing and denigration of the newspaper. These Chicago idiots have screwed around with the newspaper for seven years, and now they are fixing to disgrace it with yet another cheap, sleazy, classless innovation, the Page 1 ads.
Continue reading Ken Reich by clicking on link below.
Take Back the Times: Patrick Goldstein's Column Should Run In LAT
Tribune Company News
Tribune Shares up this Morning
Second quarter 2007 results from continuing operations included the following:
- A charge of $.08 per diluted share for the elimination of approximately 450 positions at publishing and corporate.
- A charge of $.07 per diluted share for the write-off of Los Angeles Times plant equipment related to the previously closed San Fernando Valley facility.
- A net non-operating loss of $.15 per diluted share.
Second quarter 2006 results from continuing operations included the following:
- A gain of $.01 per diluted share related to the Company’s share of a one-time favorable income tax adjustment recorded at CareerBuilder.
- A net non-operating loss of $.03 per diluted share.
Tribune presents earnings per share amounts on a generally accepted accounting principles ("GAAP") basis only. This differs from the pro forma earnings per share amounts supplied by broker analysts to databases such as First Call.
"Our second quarter results reflect the difficult advertising environment, although strongcost controls partially offset revenue declines," said Dennis FitzSimons, Tribune chairman,president and chief executive officer. "Publishing was impacted by soft print advertising and comparisons to record real estate spending, particularly in Florida, in 2006. However, second quarter interactive revenues increased 17 percent over the same period last year. In television, the telecom and entertainment categories showed growth. Demand was softacross other categories and there was little political spending versus last year. As we look to Tribune’s second half, year-over-year comparisons will ease and new revenue initiatives are expected to contribute to publishing results. The launch of new CW and syndicated shows will positively impact our television group."
"Our going-private transaction is on track and the financing for it is fully committed,"FitzSimons added. "We anticipate closing the transaction in the fourth quarter, following FCC approval, and expect to be in full compliance with our credit agreements."
Tuesday, July 24, 2007
Another Fifty-Two Week Low for Tribune
Bob Bagwell to Celebrate 60 Years with the Los Angeles Times
And I would like to add, Bob started his Times career in the pressroom.
I snapped this picture of Bob with LA Times publisher David Hiller at the celebration for the Times 125th year in business party last year.
Bob Bagwell’s 60th anniversary with the Los Angeles Times celebration is Monday, August 6 from 2:00pm to 6:00pm in the 5th floor salon in the Times Building.
For more information contact Melinda Marquez 213-237-6370
melinda.marquez@latimes.com
A video crew will be on hand at Olympic this Thursday for comments in celebration of this unheard of event, and group photographs will also be taken.
I hope my boss allows me to attend?
Fiction: Memory Of A Friend
Get Lost With Easy-Writer
She was fun. We could talk for hours. Horses, dogs, Irish verse. Myths, memoirs and novels. We would exchange cookies at Christmas. She had a laugh, loud, straight from the belly, almost a guffaw.
Tina Kim Live this Thursday
Tickets are $15.00 in advance at www.tinakim.com or $20.00 at the door.
NO DRINK MINIMUMS -- there will be a DJ etc, so you can hang out after the show or before the show.
Doors open at 7:00 PM for my show and my show starts at 8:30 PM. I will have a few opening acts. You can eat at the restaurant if you are hungry or you can order bar food at my show in the lounge. They have great food and cocktails here.
There is free parking on the street, a parking garage across the street from the lounge or valet parking at the lounge, and the prices vary on their valet parking for some reason, anywhere fromfive dollars to ten dollars. Not sure what they are going tocharge for my show but my instinct says ten dollars. I know how you Asians always want to know the price down to the last penny :)
Log onto J Lounge Los Angeles for more information.
I will have a few opening comics and then I will close the show. The whole show with my opening comics will be one and a half hours long.Afterwards you are welcome to stay and hang out with me.
Tickets are $15.00 in advance through my website only in advance orit is $20.00 cash only at the door. Please log onto Tina Kim Shows to get your advance tickets.
Tuesday Morning Media News
Los Angeles Times Explosion 1910
Monday, July 23, 2007
Tribune Sets New Fifty-two Week Low
Tribune stock closed at $28.17
Monday Media Links
Save Our Trade: Teamsters Shop Steward Training
This training is open to anyone who is interested in the information it will provide. It will give an understanding of what a shop steward's duties, rights and responsibility's are to the members, and how to enforce our contract, as well as cover the Grievence Process.
If you're interested in attending this training class, contact Ronnie at admin@saveourtrade.com or you can RSVP directly by calling (626) 357-6476
Save Our Trade: Teamsters Shop Steward Training
Sunday, July 22, 2007
Understand the HealthCare Crisis
But enjoy Dr. Hui and Pinky on pinkyshow
And here's more on pinkyshow, which is on YOUTUBE.
Los Angeles Blogosphere Today
Video Blogging at the Los Angeles Times
Saturday, July 21, 2007
Thanks for returning my Debit Card
My colleague Ed Santos and I share the same locker room and identical combination locks for our lockers. I have been having a very hard time lately opening my lock, and noted Ed was also experiencing the same difficulty.
Last Tuesday before leaving for Los Angeles I made a quick pit stop at Valero for gasoline, a Monster drink, and a pack of Marlboro's, using my Wells Fargo debit card.
On Thursday afternoon I attempted to make a purchase at Albertson's but could not locate my debit card, so I charged my fried chicken and cookies with my Visa Card, before driving to work.
When I returned home from work on Thursday night I looked high and far for my debit card, and somehow became distracted, and forgot about it. Last night I stopped at Walmarts to buy my daughter some shampoo and conditioner, and when I reached the cashier I recalled I did not have my debit card, so I would have to charge the purchase.
Odd thing, my debit card reappeared, so I was able to make my purchase my normal way, and I thought no more of this. Actually chalked it up to my old age.
As I scanned my checking account online I see I'm not senile yet! Someone had indeed taken my debit card from my locker between Tuesday and Friday, how do I know this? There was a purchase of $5.87 at a Yum Yum Donut in East Los Angeles on Wednesday, and I have not visited a Yum Yum or any other donut shop in months.
I guess I should feel lucky I only had to buy donuts for them. Don't leave anything of value in the locker rooms at work, or you may get taken.
UPDATE 10:45 p.m.
Folks, I discovered someone had used my debit card thirty minutes before departing for dinner, across the street from our former production facility in Chatsworth, at the Stone Fire Grill. Saul Daniels, former Los Angeles Times writer, invited the pressmen to a free dinner tonight, and it was great.
As I told my colleagues about my debit card problem, I pulled my small wallet from my pocket and showed everyone where I store my debit card. I then proceeded to show them where I keep my credit card, and discovered it was missing in action.
Seems when our friendly thief returned my debit card; he lifted my Washington Mutual Visa card from my wallet. I had an extremely hard time enjoying my company and the great tasting food at that point, and wondered how much damage could be done?
I had planned to stop by Jesse’s after dinner, but thought I better get home and take care of this matter as soon as possible.
As I logged onto the credit card web site, I held my breath wondering how much of my eleven thousand dollars in credit was spent? To my relief, only $7.06 was applied to my credit card, which was then blocked from any further use.
Last year we had a major problem with thefts at the Times Olympic Plant, several computers vanished, as well as cash from employee lockers, taken while everyone was working. The thief was apprehended, then escorted to the front gate and banned from company property, he could not be terminated because he was an outside contractor.
I would like to know why the Los Angeles Police Department were not called when the thief was caught? Just because someone is in this country without a visa or passport, is no reason to allow them to walk away free. If I catch someone in my locker, I promised they will not be walked to the front gate, they will be carried out.
All Doubt Removed
Saturday Morning Media Links
New Chicagotribune.com Offers Fresh Look - PR Newswire
Samuel Zell to the Board of Directors - Edgar online
FCC Holding Public Hearing on Media Ownership - Stop Big Media
Questions about Tribune's ability to Complete its Buyout - Old Oregonion
Tribune’s No-Confidence Vote From Bond Investors - WSJ
Times Goes North for Consumer Columnist - Kevin Roderick
Daily Herald delivers pay cuts to staff - Chicago Tribune
It's not the Blogs I Hate, it's their fans - The Globe & Mail
Friday, July 20, 2007
Heard Any Good News About Tribune Lately?
Sam Zell’s Tribune Co. fire sale was originally traded at 99 cents on the dollar in May. On Monday the deal was trading at 95 cents on the dollar, and most likely will edge a bit lower this Monday.
Investor confidence is ebbing, especially this week, after decreases in advertising sales across the board, which were larger than anticipated.
In May, Tribune's publishing ad revenues were down almost 12% on continuing weakness in classifieds and a nearly 18% decline in national ads. Meanwhile, circulation revenue fell 6.2% and broadcasting revenue slumped 11%.
The two-part Sam Zell Tribune Co. sale is very unlikely to succeed as the cash flow continues to tumble in the direction that cannot be slowed.
Tribune Stock price $28.91 down .65 cents or 2.20% today.
There could be a silver lining to all of this, once the current deal collapses, the company will most likely be sold off in parts to satisfy the creditors. Which leads to the question of possible buyers of the Los Angeles Times, the flagship of the Tribune Company, and largest moneymaker of all the newspapers the Tribune owns
Eli Broad and Ron Burkle made an offer, which was rejected by the Tribune, to purchase just the LAT, and also the entire Tribune Company at the last minute.
David Geffen’s offer of two billion dollars for the Times is certainly looking like the outcome of this current Tribune mess.
The Writerly Pause: former journalist Dave Cunningham guestblogs
Critique Groups: The Good, the Bad and the Ugly
Who could be worse at taking criticism than a writer? We’re such thin-skinned animals – so easily bruised, so slow to heal, so protective of our babies.....
Tribune Sinking - Will the Captain go down with the Ship?
I'm running short of time this morning, but will supply as much information as possible tonight.
Thursday, July 19, 2007
Tina Kim on Comics Unleashed
Tina Kim on Comics Unleashed. This aired July 2007. Here are some clips of me on the show. I am sharing it with all the people who wanted to see it. It was a great time and Byron Allen knows how to hook up the food at his studio. Thank you everyone at Entertainment Studios.
Thursday Chuckle
So, one evening he went to a singles bar where he spotted the most beautiful woman he had ever seen. Her natural beauty took his breath away. "I may look like just an ordinary man," he said as he walked up to her, "but in just a week or two, my father will die, and I'll inherit 20 million dollars."
Impressed, the woman went home with him that evening and, three days later she became his stepmother.
DUH?!!!!!!!!!!!!!
Media Links for Thursday Afternoon
McClatchy prefers to stay in Careerbuilder - Reuters
Press Club adds 'San Francisco' to its name - SF Peninsula Press Club
Media General's 2Q Profit Dips 75% - Associated Press
Page One ads for Newsday - Newsday
Sun to share content with WMAR, MPT - Baltimore Sun
Private Capital Management Dumps Publishers - Newsosaur
NY Post on WWD/Bernstein/Finke - Kate Coe
Murdoch’s Arrival Worries Journal Employees - NYT
Take Back the Times: Will Tribune Become Another Carter-Hawley-Hale?
I wonder, in fact, if the district attorneys of Cook, Los Angeles and other counties where the Tribune papers and television stations operate should not initiate an inquiry to determine whether there have been illegalities in recent Tribune downsizing moves, and whether it would be appropriate to seek court injunctions to halt them.
There's no question that, if they fall flat on their faces, FitzSimons, Hiller, O'Shea, the whole Tribune executive, will get huge severance payments.
But, in case of failure, the employees will be left with nothing.
Read Ken's entire story by clicking on link below.
Take Back the Times: Will Tribune Become Another Carter-Hawley-Hale?
What if the Tribune Deal Fails?
David Hiller, publisher of the Los Angeles Times, is very optimistic the deal will go through, so maybe I should get into the mindset there will be a happy ending for everyone?
But lets say for a moment the transaction fails for one reason or another, the creditors will still want to be repaid, and with a debt of $11.5 billion and assets of $8 billion, who will make up the $3.5 billion difference if the company is broken up piece by piece?
Jim Cramer said it best,
“Why doesn't anyone care about this? Why are we letting these employees put their eggs in one basket? Why are we setting them up as people who will no doubt lose everything? Why isn't someone stopping this ludicrous deal?
My hope is that it can't get financing so it will fail. Then at least these good people, probably incredibly unsophisticated in the ways of rapacious capitalism, would not be wiped out”.
I am incredibly unsophisticated in the ways of rapacious capitalism, which leaves me with more questions than answers on how this deal will work in my best interests?
Wednesday, July 18, 2007
Don't Gamble with my ESOP
Never mind what the Blogosphere spews out regarding Tribune Employees losing their retirements, my Tribune Boss’ would never mislead us, would they?
On Tuesday, August 21st, 2007 the Tribune will hold a special meeting for shareholders of record at close of business on July 12, 2007, to vote on the proposed merger, which way will you be voting?
Wednesday Morning Media Links
Tuesday, July 17, 2007
Tribune Deal Faltering
The FCC uncertainty on granting waivers to the Tribune on cross ownership of television, radio, and newspapers in the same market, could cause this transaction to fizzled as well. The Tribune creditors are now asking to be repaid in eighteen months instead of the seven years as in the original agreement, making the cash flow decline much more severe to this deal.
Today Jim Cramer dropped a bombshell on Tribune Employees, and I really dislike reading Jim Cramer’s articles, because he speaks the truth. In this case, the truth hurts very deeply.
Here are a few of the lines from Jim Cramer story on The Street
“You have to feel terrible about what's about to happen to the Tribune employees. I think they're about to lose everything. This whole $34 bid to take the company private depends on them, in their Aug. 21 vote. Sam Zell has very little skin in the game, given his war chest, and these employees have everything in the game.
The hysterical thing about this particular employee stock ownership plan is that 25 years ago at Harvard Law School we studied the disgrace of the Carter Hawley Hale deal. That was another ESOP takeover, this time with a retailer, done as a defense to takeover -- and everybody got wiped out. The winner was Sam Zell, who bought the retailer's property after the wipeout”.
[snip]
“The astonishing decline in cash flow -- 27% down -- at the Los Angeles Times just tells you this deal will be a huge catastrophe for a lot of people who can't afford it. This Tribune deal is like a slow-motion train wreck that can't be avoided. When the deal was being done the numbers were bad, but not this bad. They are getting worse by the day. The notion that a front-page ad will make a difference is an affront to common sense.
Why doesn't anyone care about this? Why are we letting these employees put their eggs in one basket? Why are we setting them up as people who will no doubt lose everything? Why isn't someone stopping this ludicrous deal?”
Not all Tribune Employees will be losers, a select few sitting in Tribune Towers, will be set for life.
A co-worker put this Tribune mess in perspective, so a simple person like myself could understand, he said “This is a great big shit sandwich, and all Tribune Employees will have to take a bite”.
Tuesday Morning Media News
Monday, July 16, 2007
Newspapers Accepting Ad's on Front Pages
My feelings are mixed with the addition of advertisements on the front-page of the Los Angeles Times. A part of me does not want to see this happen, until I look at the twenty-seven percent drop in cash flow, which makes me agreed completely with this new way of generating revenue.
The San Francisco Chronicle, The Wall Street Journal, and The Contra Costa Times have already begun inserting advertisements on their front pages, and the Tribune President of Publishing (Scott Smith) has announced that the Chicago Tribune will start accepting front page ad’s on three different sections this week. This will hold true at all Tribune Company newspapers, with the advertisements to be in full color at 1-½ inches deep across the bottom of the front page.
Funny how history repeats itself, newspapers in years gone by, always carried advertisements on their front pages, so this is really nothing new to the newspaper industry.
Gotta Love Al Martinez...
I found this article by Al Martinez quite entertaining...not to mention TRUE:-)
Message from Scott Smith - Trb Pub President
SOURCES: LAObserved and Romenesko
Take Back the Times: Conversation Between Hiller And O'Shea, (Satire)
Hiller: James, that was great. The old carrot and stick. I announce the ads, and you denounce them. That will certainly fool the newsroom.
O'Shea: I don't know. I think they may be catching on to us.
Continue reading Ken Reich by clicking on link below.
Take Back the Times: Conversation Between Hiller And O'Shea, (Satire)
Save Our Trade: Negotiation Committee Members meet with GCC/IBT International Representative Mike Huggins
Mike provided The Committee Members with literature to review so that we can prepare ourselves for, and to understand what to expect in negotiations.
Continue reading by following the link below.
Save Our Trade: Negotiation Committee Members meet with GCC/IBT International Representative Mike Huggins
Sunday, July 15, 2007
Sunday Night Links
Spanish Speakers Overlooked in Los Angeles
I need look no further than down my street every morning and notice the absence of the Los Angeles Times on my neighbor’s driveways, to see people are simply not subscribing to our product as they once did in years gone by. When I questioned my next-door neighbor, Rueben, on why he stopped subscribing to the Times he said “Ed, my wife and I compared the Los Angeles Times to the San Gabriel Valley Tribune and noticed many of the same stories in both papers. And my wife Gladys enjoys the inserted advertisements, which happen to be identical in both newspapers. We decided to drop the Times and keep the local paper for the news regarding our community, not the news about the Westside of Los Angeles”.
As the Tribune Company moves to cut costs at the end of this year, and share stories across their network of editorial staff from the different media companies they control, the Times will look more like the local community newspapers than a brand of newspaper with unique articles of their own.
The Internet is often blamed for the decline in newspaper readership, and advertising declines, which is true to a certain degree. But one fact cannot be ignored; the demographics of Los Angeles are changing rapidly, from an English-speaking metropolis to Spanish speaking.
Why the Latino market is not even considered by media companies puzzles me, especially in Los Angeles, with the Mexican border but just over one hundred miles to our South.
When I have suggested publishing a Spanish edition of the Los Angeles Times, I have been told the Spanish readers have Hoy to read or the costs would be too high to experiment with a new edition in Spanish.
Adding four or five Spanish only blogs to the online edition of the Los Angeles Times would not cost as much as publishing a hard copy newspaper in Spanish. Marketing and promoting Spanish only blogs would not be too expensive, if we used our own newspapers such as Hoy or KTLA television, which the Tribune owns, in Los Angeles.
The Los Angeles Times needs to step outside the box and tap into the Spanish speaking community for additional revenue, in an ever changing environment.
Saturday, July 14, 2007
Our First iChat --here with Patricia Wood
Her debut new novel is due out on August 2, 2007!
It's called "Lottery."
It's about a man who has a limited IQ who wins the lottery.
It's a wonderful read and I think you'll love it.
Read about it on Pat's new site! She also has a nifty blog.
You can also read my review right here: Easy-Writer Reviews the novel "Lottery"
La cucharada interior en el alimento en Los Ángeles
The Inside Scoop on Food in Los Angeles
While the online edition attempts to draw a larger audience, add a few blogs completely in Spanish, and see what type of traffic it generates. With an ever-growing populace of Spanish speakers in Los Angeles, why isn’t anyone tapping into this market at the online edition?
Some Things DO Pay Off In the End
After asking many questions, I wondered if I could get into the program. I weighed my circumstances. With me having only work, no children in the nest and no romantic involvement, I decided to inquire. It was “last minute” but, remarkably, I was able to get in just before the first class.
I clearly remember reviewing my first syllabus and wondering: “WTF have I gotten myself into?” Then, after attending about four weeks of classes, decided to hang in there and make this a mission that I’ve wanted to accomplish since graduating undergrad. It was tough (most times); the projects, the papers, no free weekends, taking books on vacations, the Writing Proficiency Exam, the GRE, etc., but always keeping in mind “The Mission.”
So…here I am on the last leg of the mission. Last class of the curriculum! Seven more Tuesday nights. August 28th and classes are done! December 1st & 2nd …COMPS! May, 2008, I get the COLLAR I’ve wanted forever and a sense of accomplishment equal to that of raising my children as a single parent!!!!
I’d like to share the most recent email received from the college. I LOVE IT!
Some Things DO Pay Off In the End!
“Attached is the form that you will need to fill out in order to graduate with you MPA degree. Please do so soon, and send it back to me with your graduation fee. You should be very proud of your accomplishments thus far, and I know your graduation will be a time of great celebration. Comps are just around the corner so best of luck to all of you!”
Patti
Patti Burleson
Roland Tseng College of Extended Learning
California State University at Northridge
18111 Nordhoff Street
Northridge, Calif. 91330-8362
http://tseng.college.csun.edu/mpa
STAY POSITIVE, FOLKS and FOLLOW YOUR DREAMS!