Saturday, February 14, 2009

Alan Mutter: several newspapers are headed toward default

Alan Mutter says several newspapers are on the verge of defaulting. He thinks McClatchy will default after MediaNews Group and Morris Publishing.


Anonymous said...

But what about all the micro-payments Mutter just talked about?

Couldn't NMI grab that tiller and head towards that body of water?

Speaking of which, how are the pics of that phony swimmer selling?

I guess MNI didn't call her "Mutter" even on Valentines day

Anonymous said...

Howard Weaver has put a good name on the new spinners,
“the mutterjarvisdoctor chorus.” He sounds as if he is “F**king tired” again, and ready to call the spinmen out.

Anonymous said...

This is not Mutter, but the opinion of a Harvard U. type, he says, “…so we need to await the 10K report.”
NiemanJournalismLab - A Project of the NiemanFoundation at Harvard U

Pension funding gap looms as another newspaper problem

McClatchy hasn’t specified the level of its funding gap, [so we need to await the 10K report] for the real numbers. But at the end of 2007, McClatchy reported pension obligations of $1.55 billion, and plan assets of $1.38 billion, for an underfunded status of $172 million.

Assuming an assets decline of 20 percent, that underfunding will have risen to $448 million at the end of 2008, which could require funding of about $65 million starting next year. That would be 18 percent of 2008 cash flow, and could become as much as 25% with a little more erosion in ad revenue.

So it’s no wonder McClatchy clamped a benefits freeze on its pension plan as of the end of March.

Anonymous said...

Howard Weaver is nothing but Gary Pruitt's fluffer. He is a non-entity in the news business and is a traitor to hard working journalists everywhere. I read his blog just to see how fast his dementia is progressing.....

Anonymous said...

Howard Weaver is nothing but Gary Pruitt's fluffer.
I don't know about fluffing, but they both feathered their nests pretty well during the MNI stock slide

Anonymous said...

I know a lot of employees that actually liked Howard Weaver. I don’t know why he is dropping like a rock, but his name now brings groans. He should have just crossed his burning bridge, and stayed on the other side. I think he just bailed out on everyone. He just seems small and useless to me.