As we start the new year, we continue to see some improvement in revenue trends and reduced year-over-year revenue declines in US Community Publishing. This is no small accomplishment and I think you should take great pride in what you have achieved. Our top line revenues, however, while improving, remain short of where they were a year ago. This is compounded by a still challenging and uncertain economy, as well as increasing expenses. To help us manage through these challenges, we have made the difficult decision to implement a furlough across USCP during the first quarter. This was, quite frankly, an option I had hoped we could avoid. Furloughs, while difficult, do allow us to protect jobs. The staff reductions we have taken over the past few years have been very hard and further reductions are not our first preference.
During the first quarter, non-union USCP employees will be furloughed for five business days. Exempt, salaried employees must take one full payroll week within the pay period, to be completed by Sunday, March 27. Outside sales people will take five days that can be completed at any pre-approved time before the last weekend in March. Non-exempt, hourly employees will also take five days at any pre-approved time, before the last weekend in March. If you are not sure which category you are in, you should check with your Human Resources representative or supervisor.
Read more from Gannett Blog here.
By Tuesday afternoon, The Wall Street Journal had confirmed the mandatory furlough with a Gannett spokeswoman, reporting:
Like many other newspaper publishers, Gannett has slashed jobs and made many other cuts, including furloughs, in response to steep declines in advertising revenue over the past couple years. The company had about 35,000 employees at the end of 2009, down from nearly 50,000 three years earlier.
In the third quarter of last year, Gannett posted a 38% increase in profit helped by lower operating expenses. However, its newspaper business continued to drag down results. Publishing ad revenue fell 5.1% from a year earlier, a slight improvement over the 5.7% decline in the second quarter. Publishing ad revenue declined 28% in 2009.
Gannett Co. announced three rounds of furloughs in 2009 (the third was effective in the first quarter of 2010), the March furlough coming just five days after the corporate giant disclosed $2 million in bonuses to CEO Craig Dubow and the other four highest-paid execs. “Even after his 2008 bonus was whacked in half, Chairman and CEO Craig Dubow still got $875,000, according to the new proxy report to shareholders. And that was on top of his $1.2 million salary, plus all the other millions the 54-year-old has made since 1981, when he began climbing Corporate’s ladder,” Gannett Blog reported at the time.
On average, the one-week furlough represents about a 2 percent pay cut.
MAY 22 This post was written the day after the second line shooting in NOLA, by Brentin Mock. Mock is a friend of Deb "Big Red" Cotton, a blogger who was shot in the back and was seriously injured. It is a raw, emotional piece of writing, something the writer obviously felt he needed to get off his chest. But it raises questions that can't be easily dismissed, and might give some insight into where the source of these events truly is.
MAY 22 In this Baton Rouge Business Report post, Rolfe McCollister considers the privatization of bus service in Baton Rouge. After decades of under-funding, it is a mess, and although a tax (partially) passed last year, improvement hasn't happened yet. McCollister apparently feels it is time to let private business get in on the transit business.
MAY 22 This post on Bayou Buzz by Jeff Crouere urges the defeat of a bill that would grant modest pay increases over the next several years to the state's judges and clerks of court. The state is in no position to fund pay hikes, Crouere argues, with the pay increases costing a total of $9 million over several years. It sends the wrong message to the (proverbial) hard-working people of Louisiana, he says.
MAY 22 The Advocate reports here that State Treasurer John Kennedy is complaining about a meeting of the corporation that oversees the state's tobacco settlement. The Governor wanted it restructured, and he has some support, but not a lot. The corporation agreed with his plan, but Kennedy didn't, and it appears that the meeting was noticed in a manner completely different than that of all previous meetings. Kennedy's given to hyperbole, but in this case the fish don't smell too fresh.
MAY 22 In this Advocate story, Carencro Police Chief Carlos Stout says the recent federal indictment of a strip club owner is all wrong. The indictment alleges that drugs and prostitution went on with impunity because club staff made arrangements with "local" police. Stout says it never happened, and while his cops do work security in the parking lot, they're not allowed inside.
MAY 22 This amusing post in DIG Baton Rouge recounts an ad that ran on Craig's List recently; the advertiser was seeking tenants for a Beauregard Town house. He knew his market, and wrote an ad that the most ironical hipster couldn't resist. Apparently, he really did know his market, because the ad worked like a charm.
MAY 22 In this post in The Lens, Mark Moseley comments on the rhetoric Gov. Jindal employed in trying to save his tax "reform" package. One interesting point concerns Jindal's use of his brother, Nikesh, in a little story. Nikesh left Louisiana because of his inability to get a decent job, the story goes, but the story won't hold water: Nikesh lives in DC, which has an income tax level comparable to Louisiana, Moseley says. If income taxes caused the dismal situation, it should exist in DC too. Right?
MAY 22 This post by columnist John Maginnis traces the trajectory of the bill that would fund construction at community and technical colleges -- and bypass the Board of Regents and traditional higher ed funding mechanisms. Sure, it will bust the legislature's self-imposed debt limit, but some leges feel that there's more need (because there is more growth) in the community and technical college area than in the university area, he says.
Most Read
in case you missed it
Subscribe to this comment's feed
SONS A BIT&*^%