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Topic: Sinking of a corporate ship? (Read 306 times) |
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Redd
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Sinking of a corporate ship?
« on: Mar 21st, 2007, 7:32pm » |
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It's been a hell of 2 month roller coaster. Managers leaving left and right, other lower totum-pole employees leaving too...the totaly wrong people getting promoted, pretty much because there is no one else there worth promoting who have the seniority to be promoted, and they have to fill the positions.
10 people since January, either going or gone.
Seems every other week...another rat or two is giving notice of jumping ship. One has to wonder how deep the water is in hold..... 
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PollyPocket
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Re: Sinking of a corporate ship?
« Reply #1 on: Mar 21st, 2007, 7:37pm » |
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hmmmmm ...... sounds to me like the perfect person to step up and shine is primed and ready.......
Now's your turn to SHINE Pegg! Why not go for it?
Even if things make a hard left turn, you could have something really cool to add to a resume.
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“Life is all about timing... the unreachable becomes reachable, the unavailable become available, the unattainable... attainable. Have the patience, wait it out It's all about timing.” - Stacey Charter
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Redd
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Re: Sinking of a corporate ship?
« Reply #2 on: Mar 21st, 2007, 7:44pm » |
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I don't have the seniority to step up anywhere. I haven't been there a year yet.
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I saw an act of faith today. A man was on his knees, not in a pew in a Church, but in a garden planting seeds. ~~Unknown
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PollyPocket
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Re: Sinking of a corporate ship?
« Reply #3 on: Mar 21st, 2007, 7:48pm » |
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well shoot! well, THEIR loss!
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“Life is all about timing... the unreachable becomes reachable, the unavailable become available, the unattainable... attainable. Have the patience, wait it out It's all about timing.” - Stacey Charter
"If I don't remember it happening, it never happened. " - Tori
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Lobster
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Re: Sinking of a corporate ship?
« Reply #4 on: Mar 21st, 2007, 8:32pm » |
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If it is a publicly traded company, you might be able to check out their 10Q and other statements on the net.
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Rock beats Scissors.
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Redd
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Re: Sinking of a corporate ship?
« Reply #5 on: Mar 21st, 2007, 8:40pm » |
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I don't really know what this means...
someone care to explain?
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I saw an act of faith today. A man was on his knees, not in a pew in a Church, but in a garden planting seeds. ~~Unknown
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Jonny
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Re: Sinking of a corporate ship?
« Reply #6 on: Mar 21st, 2007, 8:47pm » |
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on Mar 21st, 2007, 8:40pm, Redd wrote:
I don't really know what this means...
someone care to explain? |
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Sure.....it means that the CCI dailys are not keeping up with the projected profilies.
therefore the companies profrits will not accumulate to the companies expectations.
Its a losing battle at this point!
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Brew
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Re: Sinking of a corporate ship?
« Reply #7 on: Mar 21st, 2007, 8:47pm » |
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It means the company's stock price has been taking it in the shorts the last week or so.
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BB
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Re: Sinking of a corporate ship?
« Reply #8 on: Mar 21st, 2007, 8:56pm » |
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Depends on how bad it is and whether the company has the capacity/asset to get through, it may go into receivership or be sold/taken over by others, usually means loss of benefits for existing employees.
No wonder so many jumped ship!
Annette
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Kevin_M
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Re: Sinking of a corporate ship?
« Reply #9 on: Mar 21st, 2007, 9:23pm » |
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Quote:Could Gannett Co Continue Lower? Asks Market Timer Frank Kollar
Tuesday March 20, 2007 01:40:17 EDT
March 20, 2007 (FinancialWire) (By Frank Kollar) Gannett Co Inc (NYSE: GCI), an international news and information company that publishes 91 daily newspapers, including USA Today in the United States, and nearly 1,000 non-daily publications, took a dive after posting disappointing results last week. Is the sell off over?
Gannett's share price plummeted below a critical support level at $56.19 last Friday. With a huge market rally this Monday, Gannett hardly participated. When a stock closes below support it usually reaches the next support level that, in Gannett's case, is at $54.20. Traders should be watching this stock with the expectation that lower lows might very well be reached in coming days and weeks. |
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Gannet is a huge company but sometimes in the media industry at these times a good look is taken to maybe streamline, changes are made, could be wage freezes, some cutbacks possibly to get back on track, maybe selling of an unprofitable unit or units bundled.
An overall tightening of the belt is the usual message sent down the line which results in difficulty of better wages forseen for the little guys so the big guys can save their jobs but with knowing bonuses cancelled. Results are needed, my guess. Where it had been following the S&P 500 relatively closely, a big diverging as of late, a fall from grace.
Could be a trend or not, a lot may have to do with most getting their news online these days and they need to make some changes to follow the advertising dollar better.
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| « Last Edit: Mar 21st, 2007, 10:01pm by Kevin_M » |
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Redd
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Re: Sinking of a corporate ship?
« Reply #10 on: Mar 21st, 2007, 10:13pm » |
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That piece about the stock prices is a real eyeopener.
But the job market is painfully thin around here, specially in sales as an industry. Even the car dealerships aren't hiring sales people.
Thanks for the heads up. Tells me alot about why people are bailing out. Management and the "buddies" all were privy and bailed. Between the "corporate wide restructuring" pep talks from just prior to Christmas, and this fallout, It's safe to assume that things are just as bad all over the company.
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I saw an act of faith today. A man was on his knees, not in a pew in a Church, but in a garden planting seeds. ~~Unknown
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Redd
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Re: Sinking of a corporate ship?
« Reply #11 on: Mar 21st, 2007, 11:10pm » |
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Just spoke to a "co-worker" [sort of]. She and I had dinner last night, as she used to be a PT assistant to the Publisher, and she took another position as an Ad assistant at our sister paper, (which has the same publisher..go figure.)
Anyway, Although she can't tall certian things she knows, her reactions to things we discuss speak louder.
She runs all the Publishers reports that get sent to the federal review board( don't ask me now what it's called it's too late at night), and last night over dinner she was telling me about the shortcuts the Publisher was making to stay within her projeted "budget".
Things like bringing in "hand-me-down" copiers, fax machines etc. That way she could report that our paper came in "under budget".
There is alot to be learned from Brenda, and as I learn I progress, and make rom for what she really wants to do, and that is to come back to this paper, so she doesn't have to commute any more. She's not getting what she was promised. And she's furious. So am I.
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I saw an act of faith today. A man was on his knees, not in a pew in a Church, but in a garden planting seeds. ~~Unknown
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MJ
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Re: Sinking of a corporate ship?
« Reply #12 on: Mar 22nd, 2007, 12:24am » |
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Redd
Gannetts a pretty diversified company across all media.
80+% owned by the big institutional investors. If say one large shareholder decides to sell 5 million shares and take a profit then others follow in a panic. At least thats what the trading volume suggests once you read the financials.
Looks like more buyers than sellers over the last few days trades holding prices tight. I certainly wouldnt worry about the company as a whole as long as some of the leadership gets booted soon. Seems around 10% of the net income is going to the top 15 or so people. They also increased dividends recently.
Right now Gannets worry is local advertising where classifieds are off around 7% and display ads are off half a percent company wide. Thats supposed to be the area that majority of revenue is derived from.
A common mngmnt strategy says blame the local managers because its not my fault as I make more money than them. Lets make them just go away and get new blood and see what happens. Shows the quality of mid level mngrs when the balls are hitting in their court.
Seniority means nothing in todays world, only to those stuck in place for 10 years.
Step up while the house is being cleaned. A few new acounts will go a long way.
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MJ
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Lobster
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Re: Sinking of a corporate ship?
« Reply #13 on: Mar 22nd, 2007, 1:12am » |
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They are still very profitable... almost $5 a share.
They are still paying a dividend.
Market cap is still above $13B.
The institutions have not bailed... they hold over 80%.
There is very little shorting.
The PE is only 11.5.
Still a very powerful company that is feeling the heat from the downfall of one of its sectors... newspapers.
Declining revenue is the issue... and is not likely to improve in that sector. Gannet, Tribune, McClatchy's... all 3-5% declines in revenue.
So, if they do the typical kneejerk reaction, one could expect salary and work conditions to stagnate.
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zwibbs/Scott
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Re: Sinking of a corporate ship?
« Reply #14 on: Mar 22nd, 2007, 4:27am » |
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I worked for Gannett in White Plains, New York since 1986. I was contracted by them to handle all of their trucking. The name of the paper is "The Journal News." When I read your initial post --I knew it was Gannett!! When I started in 1986 the circulation was over 250,000/day. The day I closed my business on November 30th, 2006---the daily circulation was 87,000. I don't feel sorry for them because they asked for it. Like you said Redd, they have all the wrong people in all the wrong positions---and the result is that they are losing ground on a daily basis. Worse than Gannett is Tribune Company and The Journal news just bought two of their worst papers in southern, connecticut. They are diversified, but the bulk of what they own and do is Newspapers. Right now newspapers are dying a miserable death........Case and point.....The most popular paper in the world is " USA Today"---with over 2,000,000 circ a day......over 1,058,000 are given away for free!! As for Gannett dailies throughout the US --they all fudge the numbers to dupe the advertisers. Gannett as big as it is , is in abit of trouble as they're losing advertising dollars, and don't have any battle plans to get it back. The people who once ran the company proudly were let go because they were too smart for the present management, and the present management felt threatened. For your sake Redd--I hope that you prosper and do well in Wisc. In New York---the Journal News is used as a measuring stick--on how NOT to run your business.
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