Gary Pruitt had his "the-emperor-has-no-clothes moment" Tuesday when a financial analyst asked a pointed question that any CEO worth his $4.6 million salary should have an answer for.During McClatchy's 3rd quarter earnings call, financial analyst John Cornright pointed out the bond market is betting McClatchy won't be around in 5 years, and asked Pruitt his strategy to keep the company alive that long. In response, Pruitt gave one of the lamest answers imaginable by a CEO -- "Well, our audience is growing" -- or words to that effect.
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McClatchy's family-oriented board is notoriously weak, and has yielded to Pruitt's plans for years. Will Pruitt's conference call debacle be the catalyst for the board to man up and take steps to bring respectability -- and leadership -- back to McClatchy?
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McClatchy's board needs to act. It's time for the board to send Gary Pruitt packing. (Photo credit: daylife.com)
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Previous Gary Pruitt:
Analyst: "The bond market is voting McClatchy won't survive 5 years from now"
Readers decide -- the official Gary Pruitt theme song is "It's the end of the world as we know it" by R.E.M.
Here's a 2007 video of Gary Pruitt explaining how the purchase of Knight Ridder was a brilliant move
McClatchy CEO meets with nervous investors, tells them not to worry
McClatchy CEO Gary Pruitt added to "Wall of Shame" by CNBC's Jim Cramer
McClatchy CEO Gary Pruitt: "I plan on sticking around"
McClatchy CEO: "What, me worry?"
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Previous Gary Pruitt:
Analyst: "The bond market is voting McClatchy won't survive 5 years from now"
Readers decide -- the official Gary Pruitt theme song is "It's the end of the world as we know it" by R.E.M.
Here's a 2007 video of Gary Pruitt explaining how the purchase of Knight Ridder was a brilliant move
McClatchy CEO meets with nervous investors, tells them not to worry
McClatchy CEO Gary Pruitt added to "Wall of Shame" by CNBC's Jim Cramer
McClatchy CEO Gary Pruitt: "I plan on sticking around"
McClatchy CEO: "What, me worry?"
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