Responding to an Internet post by Jeff Jarvis on the fiscal problems at newspaper companies, including McClatchy, retiring McClatchy VP Howard Weaver unloaded on Jarvis with a profanity-laced Christmas Day missive. I have to say, the arrogance, anger, and idiocy in Weaver's post are astonishing for a newspaper executive.I get so f*****g tired of correcting you, Jeff. Has it *ever* occurred to you to do some reporting — like asking questions of those involved — before pronouncing such apocalyptic conclusions?Apparently the McClatchy School Marm thinks his job is to go around correcting people. Sheesh. Turning to McClatchy's collapsing stock price, Weaver blames Wall Street analysts.
Yes, the stock price sucks. As you know (or should) that reflects Wall Streets’ analysis of our prospects. And we all know those are some smart guys who always get it right, huh?...Earth to Weaver: Analysts don't set the stock price. The price is set by buyers and sellers. And right now, investors do not have faith McClatchy is going to be profitable. Blaming analysts for a low stock price is weak, weak, weak. Then, Weaver launches into Alan Mutter -- who knows more about newspaper balance sheets than anybody in the business. Look at Weaver's nonsensical statement on Alan Mutter:
But I guess you refer to Alan Mutter’s analysis as “excellent” simply because it confirms your beliefs. It’s anything but excellent. It’s very thin soup, persuasive only to people who know less about these issues than he does.That's a dodge, not an answer, Howard.
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To sum up Weaver's position, Jeff Jarvis is wrong ("consistently, persistently wrong"). Wall Street is wrong. Investors are stupid. Alan Mutter is wrong. Everybody is wrong, except the under-appreciated visionaries -- Howard Weaver and Gary Pruitt.
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As McClatchy sinks further into the abyss, Howard Weaver finds himself running out of people to scream at.
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UPDATE: Newsbusters linked, thanks!
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13 comments:
Who the h**l is McClatchy, what do they provide America's economy and who gives a rats a** what happens tho them?
http://newsbusters.org/blogs/p-j-gladnick/2008/12/26/twilight-clods-mcclatchy-vp-goes-berserk
Twilight of the Clods: McClatchy VP Goes Berserk
http://www.freerepublic.com/focus/f-news/2154394/posts
Twilight of the Clods: McClatchy VP Goes Berserk
Howard usually posts his stuffed shirt style rhetoric:
Cue "Gumbuya" music.
This time he took a nasty wrong turn:
Cue GPS “Recalculating.”
What was it that Forest Gump said...
OH YEAH..."Stupid is as stupid does".
I looked at that arrogant SOB's blog once and even posted...he tried to rip me a new one but he knew I was right when I chastised him about the direction of McClatchy and how the whole lay off thing/black Monday should never have happened...I will not stoop so low as to call him a expletive deleted.
Howie’s picture looks like he is repeating the Britney Spears meltdown for the press, bypassing the unneeded buzz cut of course.
Note how he never talks about selling his stocks and taking his money upfront. The top brass bailing out might have hurt McClatchy stock as well. If the directors don’t believe in the company, why would anyone else? Talk about a hypocrite!
Howard Weaver (VP, News) sold 4000 shares Of McClatchy stock on 2/9/07. link here
Way to hang in there for the team, Howard.
I think it is natural that he would come unhinged. After all, there are ex-employees in production that made more off short selling Mr Howard's vision than Mr Howard made by dumping his stock right after the merger.
It is a difficult thing to retire from a life dedicated to serving in the shadows of another, only to look back in refection and see that career highlighted as a complete failure, with a future promising only class action lawsuits for wiping out the investments of many.
I see Howie is still in full tilt blather mode.
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From: Etaoin Shrdlu
-Talk is cheap, but here's my money-
“You know that I have long offered to wager $1,000 on McClatchy’s prospects with anybody who doesn’t believe me. Let’s make it personal, shall we? Show me your money, Jeff.”
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Howard adds a graphic of a big bill to add muscle to the bet.
Weaver claims:
"Perhaps more importantly, the company is so much more efficient now than two years ago (to the tune of some $350 million in reduced expenses) that it doesn’t have to return to anything like historic margins or revenues to be successful.
I've seen this so call "efficiency" jeopardize publication in three of the California papers. It’s only a matter of time before a publication day is missed. Hours late to the porch must be part of the cost reduction plan, or part of the online-only publication transition.
Sorry, Mr. Weaver, but you played the game too long.
And now that my severance check has cleared, a note to the rest of the Sacramento bunch, borrowing from Bob Dylan:
Gentlemen, I don't need your organization. I've shined your shoes, moved your mountains and marked your cards. But Eden is burning, and I no longer have to get myself set for elimination.
You see, i didn't quit the team -- I got kicked off after 22 years.
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Howard, shut the hell up and leave with what dignity you still possess. It's over. Be thankful you're out of the McClatchy meltdown.
August comment left at BuzzMachine blog by Howard Peever. Too funny, Howard telling us the value of editors in saving us from ‘pouting off’ in the heat of the moment.
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BuzzMachine blog comments:
Howard Weaver Says:
August 18th, 2008 at 2:40 pm
I wonder if you might consider another useful purpose editors can serve: in saving writers from [pouting off] without doing any research or speaking intemperately [in the heat of the moment?]
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Now Howie, really, “I get so f*****g tired of correcting you, Jeff,” is a little bit pouty.
Bwahahahahahaha
Another thing, Mr. Weaver: Please stop with the $1,000 challenge. We all know you have a lot of money, but for many people, $1,000 represents more than a week'a pay, not a half-day's. Tell you what -- I, a now-unemployed journalist -- will pay you $1,000 to quit blogging, shut up and go away.
I'm no longer an employee, but I remain a stockholder.
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