This blog is mainly about the spectacular train wreck at The Sacramento Bee and its parent company, the McClatchy Company. But I also post about current events, the Iraq and Afghanistan wars, politics, anything else that grabs my attention. Take a look around this blog, hope you enjoy it.
Saturday, April 25, 2009
Miami Herald says goodbye to more departing employees
No word if the remaining employees did a mock up front page ridiculing Capt. Gary. . . .
18 comments:
Anonymous
said...
Re this story: More evidence that the Pulitzer no longer carries the significance it once carried. (One of the laid off guys helped win it. If the prize were really that important, wouldn't this guy a) not be getting laid off or b) already have another good job lined up?)
BTW, did any paper NOT win a Pulitzer this year? Seem to be an awful lot of 'em going around.
CHICAGO Morris Publishing Group -- the parent of The Florida Times-Union in Jacksonvile that has acknowledged worries that it can survive as a "going concern" -- said Friday it had negotiated a fifth waiver from its bankers, staving off any action that could force it into bankruptcy until late May.
Morris said bankers holding 80% of $278.5 million in senior subordinated notes had agreed to another forbearance on a missed $9.7 million interest payment that was due Feb. 1.
A previous forbearance had been due to expire Friday. Privately held Morris is struggling under $413 million in debt.
CHICAGO Moody’s Investors Service declared Friday that The McClatchy Co.’s $2.2 billion in debt is “becoming unsustainable” -- and could force it to breach its lending agreements or seek restructuring.
Moody’s downgraded McClatchy’s Corporate Family Rating and Probability of Default ratings to Caa1 from B2. The new lower rating signifies “very poor quality” debt, and is the last step before a C, or default, rating.
“The downgrade reflects Moody's concern that McClatchy's high and increasing leverage is becoming unsustainable and that there is heightened risk that continued revenue pressure could lead to a covenant violation or restructuring over the next 12-24 months,” wrote Moody’s Vice President and Senior Analyst John E. Puchalla.
Moody’s said McClatchy’s so-called leverage ratio -- measured as amount of debt compared to EBITDA (earnings before interest, taxes, depreciation and amortization) – was “approximately 9 times” for the last 12 months ended in March. By comparison, Tribune Co. had an estimated leverage ratio of 9.2 times debt to EBITDA when it filed for Chapter 11 bankruptcy protection.
Sacramento, Calif.-based McClatchy, publisher of The Miami Herald and about 50 other dailies -- has a policy of not commenting on ratings actions. McClatchy on Thursday reported a first-quarter loss of $37.7 million, or 45 cents a share, propelled by ad revenue that plummeted 29.5% compared to the year-ago period.
'Boston Globe' Editor Doubts Charging for Web Would Be Worthwhile
NEW YORK Editor Martin Baron of The Boston Globe told a group of business leaders Thursday that he did not believe charging for Web content would bring in more revenue than keeping such information free.
Speaking at a Boston luncheon organized by Regan Communications, Baron said: “I don’t believe anybody has demonstrated that you can earn more money for charging for it than not charging for it,” according to the MetroWest Daily News of Framingham.
The comments come as a new debate has emerged in the industry about charging for online content. The Globe, meanwhile, is in serious negotiations with its unions to cut costs and has threatened to sell or close the paper if enough reductions are not made.
The Globe is expected to lose $85 million this year without significant cost reductions, the Daily News reminded readers.
Baron said charging for online content would lead to a "precipitous drop in site traffic, which would in turn limit what advertisers could be charged and would eventually mean that the Web site would generate less revenue," the story said.
“Numerous colleagues said they did not want a public goodbye, so each department has plans for small gatherings. But we thank one and all for everything they've done. You have made this newspaper -- and this community -- a better place.” --- Oh yes, and, don’t go back to your desk unescorted, don’t touch anything, you will be accompanied to the washroom, blah, blah, blah…You made this cutthroat action go as smooth as silk, you valuable person you!
TALK ABOUT A BUNCH OF CIRCLE-JERK TEABAGGING LIARS. AND THEY WANT US TO TRUST THEM?
Robert Gibbs Gives the Press Corps an "A"
CNN's Wolf Blitzer spoke with White House Press Secretary Robert Gibbs for CNN's First 100 Days special that will air this weekend.
During the conversation, Gibbs gave the press corps a top grade. "I'd give them a strong A," Gibbs told Blitzer. "You guys watch everyday.
There are tough questions each and every day and they're looking at and trying to find the stories in this administration. I think they're obviously doing a tough job particularly well."
NPR employees now will not be paid for three holidays (Memorial Day, Independence Day and Labor Day) this year, and three more when its new fiscal year begins on Oct. 1.
But then, why would they be paid for Memorial Day and Independence Day anyway?
They're American holidays.
Labor Day might be problematic for the Glorious Propaganda Collective though.
Baron said: “I don’t believe anybody has demonstrated that you can earn more money for charging for it than not charging for it
-------------- Apparently he missed the Wall Street Journal's One Hundred Million in online paid subscriptions for 2008.
Why a leftist editorial traitor might ask? Because, they offer in depth, real news, relative information, unparalleled investigative reporting, The DOW JONES NEWSWIRE, Real Time News and Information, Personalized Tools, Practice Journalistic Standards without deviating, never hid advertising or editorial in news and last but not least.
Good question: Did the Times win a Pulitzer for ‘Local reporting’ that was not really local reporting? --------- “Of course, that “local reporting” the Times’ Pulitzer was for was a story about the state’s governor, whose office is in Albany, and a sex act that took place in Washington, DC. And the Pulitzer was for “Breaking News,” an entirely different concept from local reporting. That kind of thinking may be part of Pinch’s problem.” - Posted by anonymous-
What a piece of shit this Pulitzer is: Leftist reporters find a sheriff doing his job to correct illegal immigration is endangering other investigations. Talk about passing around a crack smoke pipe. ~~~~ East Valley Tribune wins Pulitzer for Arpaio series
“The Pulitzer committee noted that Gabrielson and Giblin received the award for “their adroit use of limited resources to reveal, in print and online, how a popular sheriff’s focus on immigration enforcement endangered investigation of violent crime and other aspects of public safety.”
AP and their bogus polls? This outright news dishonestly just keeps getting worse. ------ @ Bottom Line Communication KCMO-710 talker Chris Stigall read (4/24) a recent AP story titled "AP Poll: After Obama's 100 days, US on right track" that ran in the Kansas City Star and other media outlets (LINK) across the country. Stigall noted that a local woman was the first one quoted in the story and decided to call her to discuss her remarks.
However, when Stigall spoke to Wetherington she said her remarks in the AP story were taken out of context. [snip]
But, what the AP also seemed to have overlooked, is that Wetherington is currently in the process of shutting down her Gardner chocolate shop. She had also operated one in Lawrence that she was recently forced to close. Those kind of details didn't seem to work well with the AP poll and were overlooked...
stop with the abusive and profane posts. we all know those words and they have little impact anymore. Georia Tasker was a very special part of the Herald, and was like a modern day environmental visionary. please blog, or otherwise stay vocal. this is just sad, although even in good times she would be entitled to some retirement years. how will her writing be replaced??
Don't cry for Georgia. Think it through. I bet she gets her severance pay, nice pension, work as a freelance contract writer and take distributions from her 401(k). All provided to her by those much-maligned companies KR-MNI. And don't forget the Social Security provided by the U.S. gov't. And the COBRA subsidy until she becomes eligible for Medicare.
Wow... Mindy seems to care! So did my EE Betsy Lumbye. As she was canning me she said, "Chris, this is not a referendum on your work." So comforting in her matronly choice of frock and hair that day. (The desperate "cougar" look she was going for in the months previous just wasn't apropos on this day.) I thought, "no shit, it's actually a referendum on yours." (IMO, McClatchy would still be viable if not for this easy-smiling CEO Rupert Murdoch wannabe they have) So with that thought in mind I asked about the culpability of the ultra-cliche, greed-filled land/power grabbers at MNI who are actually at fault, not the ecomony (quit lying, Mahogany-lined, French-jet owners) and the highest paid, but will be the very last to go. "We are all out on a limb, Chris" WE? As my meager salary was being thrown to the barren, rocky ground below.
Mindy seems to care! Now.
Ok, that was my one and only rant about my former profession. Good luck and love to all those warriors who are still on the beat.
Christian "I should have blogged more and made bad television" Parley - ex-staff photographer at the Fresno Bee p.s. my word verification is QUASH, hilarious.
18 comments:
Re this story: More evidence that the Pulitzer no longer carries the significance it once carried. (One of the laid off guys helped win it. If the prize were really that important, wouldn't this guy a) not be getting laid off or b) already have another good job lined up?)
BTW, did any paper NOT win a Pulitzer this year? Seem to be an awful lot of 'em going around.
Some more fellow travelers to mingle with us great unwashed.
But then I hear travel to Cuba is now quite available as a travel/ work destination.
We could call it the great “Reverse Mariel Commie Boat Lift.”
Fidel, whose news they so like, and love to cut and paste, would be oh so proud.
In 1980 he gave us his criminals, now we could return the favor by giving him more commies. They would be, going “home”
MORE GREAT NEWS!
'Florida Times-Union' Parent Gets Fifth Default Reprieve
CHICAGO Morris Publishing Group -- the parent of The Florida Times-Union in Jacksonvile that has acknowledged worries that it can survive as a "going concern" -- said Friday it had negotiated a fifth waiver from its bankers, staving off any action that could force it into bankruptcy until late May.
Morris said bankers holding 80% of $278.5 million in senior subordinated notes had agreed to another forbearance on a missed $9.7 million interest payment that was due Feb. 1.
A previous forbearance had been due to expire Friday. Privately held Morris is struggling under $413 million in debt.
I MEAN, CAN IT GET ANY WORSE FOR THESE GUYS? GEE, I HOPE NOT
Moody's: McClatchy's $2.2 Billion Debt Load 'Becoming Unsustainable'
CHICAGO Moody’s Investors Service declared Friday that The McClatchy Co.’s $2.2 billion in debt is “becoming unsustainable” -- and could force it to breach its lending agreements or seek restructuring.
Moody’s downgraded McClatchy’s Corporate Family Rating and Probability of Default ratings to Caa1 from B2. The new lower rating signifies “very poor quality” debt, and is the last step before a C, or default, rating.
“The downgrade reflects Moody's concern that McClatchy's high and increasing leverage is becoming unsustainable and that there is heightened risk that continued revenue pressure could lead to a covenant violation or restructuring over the next 12-24 months,” wrote Moody’s Vice President and Senior Analyst John E. Puchalla.
Moody’s said McClatchy’s so-called leverage ratio -- measured as amount of debt compared to EBITDA (earnings before interest, taxes, depreciation and amortization) – was “approximately 9 times” for the last 12 months ended in March. By comparison, Tribune Co. had an estimated leverage ratio of 9.2 times debt to EBITDA when it filed for Chapter 11 bankruptcy protection.
Sacramento, Calif.-based McClatchy, publisher of The Miami Herald and about 50 other dailies -- has a policy of not commenting on ratings actions. McClatchy on Thursday reported a first-quarter loss of $37.7 million, or 45 cents a share, propelled by ad revenue that plummeted 29.5% compared to the year-ago period.
GEE, WHAT WILL THE OLD GREY WHORE DO NOW?
'Boston Globe' Editor Doubts Charging for Web Would Be Worthwhile
NEW YORK Editor Martin Baron of The Boston Globe told a group of business leaders Thursday that he did not believe charging for Web content would bring in more revenue than keeping such information free.
Speaking at a Boston luncheon organized by Regan Communications, Baron said: “I don’t believe anybody has demonstrated that you can earn more money for charging for it than not charging for it,” according to the MetroWest Daily News of Framingham.
The comments come as a new debate has emerged in the industry about charging for online content. The Globe, meanwhile, is in serious negotiations with its unions to cut costs and has threatened to sell or close the paper if enough reductions are not made.
The Globe is expected to lose $85 million this year without significant cost reductions, the Daily News reminded readers.
Baron said charging for online content would lead to a "precipitous drop in site traffic, which would in turn limit what advertisers could be charged and would eventually mean that the Web site would generate less revenue," the story said.
“Numerous colleagues said they did not want a public goodbye, so each department has plans for small gatherings. But we thank one and all for everything they've done. You have made this newspaper -- and this community -- a better place.”
---
Oh yes, and, don’t go back to your desk unescorted, don’t touch anything, you will be accompanied to the washroom, blah, blah, blah…You made this cutthroat action go as smooth as silk, you valuable person you!
TALK ABOUT A BUNCH OF CIRCLE-JERK TEABAGGING LIARS. AND THEY WANT US TO TRUST THEM?
Robert Gibbs Gives the Press Corps an "A"
CNN's Wolf Blitzer spoke with White House Press Secretary Robert Gibbs for CNN's First 100 Days special that will air this weekend.
During the conversation, Gibbs gave the press corps a top grade. "I'd give them a strong A," Gibbs told Blitzer. "You guys watch everyday.
There are tough questions each and every day and they're looking at and trying to find the stories in this administration. I think they're obviously doing a tough job particularly well."
BUDGET CUTS AT NPR
NPR employees now will not be paid for three holidays (Memorial Day, Independence Day and Labor Day) this year, and three more when its new fiscal year begins on Oct. 1.
But then, why would they be paid for Memorial Day and Independence Day anyway?
They're American holidays.
Labor Day might be problematic for the Glorious Propaganda Collective though.
All of this very sad news......I could just cry. Oops, I have no Kleenix. Ok...forget that.
-Skip the Newspaper, Save the Planet?-
The decline in newspaper readership is being expressed as an environmental victory.
Leftists rejoice, your 'Green' plans for eveyone else are working for you as well. Oh bummer, right?
Baron said: “I don’t believe anybody has demonstrated that you can earn more money for charging for it than not charging for it
--------------
Apparently he missed the Wall Street Journal's One Hundred Million in online paid subscriptions for 2008.
Why a leftist editorial traitor might ask? Because, they offer in depth, real news, relative information, unparalleled investigative reporting, The DOW JONES NEWSWIRE, Real Time News and Information, Personalized Tools, Practice Journalistic Standards without deviating, never hid advertising or editorial in news and last but not least.
EDITORIAL IS KEPT ON THE EDITORIAL PAGE!
Good question: Did the Times win a Pulitzer for ‘Local reporting’ that was not really local reporting?
---------
“Of course, that “local reporting” the Times’ Pulitzer was for was a story about the state’s governor, whose office is in Albany, and a sex act that took place in Washington, DC. And the Pulitzer was for “Breaking News,” an entirely different concept from local reporting.
That kind of thinking may be part of Pinch’s problem.”
- Posted by anonymous-
What a piece of shit this Pulitzer is: Leftist reporters find a sheriff doing his job to correct illegal immigration is endangering other investigations. Talk about passing around a crack smoke pipe.
~~~~
East Valley Tribune wins Pulitzer for Arpaio series
“The Pulitzer committee noted that Gabrielson and Giblin received the award for “their adroit use of limited resources to reveal, in print and online, how a popular sheriff’s focus on immigration enforcement endangered investigation of violent crime and other aspects of public safety.”
AP and their bogus polls? This outright news dishonestly just keeps getting worse.
------
@ Bottom Line Communication
KCMO-710 talker Chris Stigall read (4/24) a recent AP story titled "AP Poll: After Obama's 100 days, US on right track" that ran in the Kansas City Star and other media outlets (LINK) across the country.
Stigall noted that a local woman was the first one quoted in the story and decided to call her to discuss her remarks.
However, when Stigall spoke to Wetherington she said her remarks in the AP story were taken out of context. [snip]
But, what the AP also seemed to have overlooked, is that Wetherington is currently in the process of shutting down her Gardner chocolate shop. She had also operated one in Lawrence that she was recently forced to close.
Those kind of details didn't seem to work well with the AP poll and were overlooked...
Anon 1:09 Applause SPOT ON!
stop with the abusive and profane posts. we all know those words and they have little impact anymore.
Georia Tasker was a very special part of the Herald, and was like a modern day environmental visionary.
please blog, or otherwise stay vocal.
this is just sad, although even in good times she would be entitled to some retirement years.
how will her writing be replaced??
Don't cry for Georgia. Think it through. I bet she gets her severance pay, nice pension, work as a freelance contract writer and take distributions from her 401(k). All provided to her by those much-maligned companies KR-MNI. And don't forget the Social Security provided by the U.S. gov't. And the COBRA subsidy until she becomes eligible for Medicare.
Wow... Mindy seems to care!
So did my EE Betsy Lumbye. As she was canning me she said, "Chris, this is not a referendum on your work." So comforting in her matronly choice of frock and hair that day. (The desperate "cougar" look she was going for in the months previous just wasn't apropos on this day.)
I thought, "no shit, it's actually a referendum on yours." (IMO, McClatchy would still be viable if not for this easy-smiling CEO Rupert Murdoch wannabe they have)
So with that thought in mind I asked about the culpability of the ultra-cliche, greed-filled land/power grabbers at MNI who are actually at fault, not the ecomony (quit lying, Mahogany-lined, French-jet owners) and the highest paid, but will be the very last to go.
"We are all out on a limb, Chris" WE? As my meager salary was being thrown to the barren, rocky ground below.
Mindy seems to care! Now.
Ok, that was my one and only rant about my former profession. Good luck and love to all those warriors who are still on the beat.
Christian "I should have blogged more and made bad television" Parley -
ex-staff photographer at the Fresno Bee
p.s. my word verification is QUASH, hilarious.
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