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Advertising newsletter PennySaver shuts down; hundreds lose their jobs
LA Times ^ | Stuart Pfeifer

Posted on 05/24/2015 8:19:05 PM PDT by Zakeet

The PennySaver, an advertising newsletter that was a fixture in Southern California mailboxes for decades, is going out of business.

Employees said they were told late Friday that the company was ceasing operations immediately, without warning or further explanation.

“They said, ‘That’s it. We’re done. We’re closing. Everybody pack up your things and leave,'” said one employee, who asked that her name not be published because she was unauthorized by the company to talk to the news media.

[Snip]

On its website, OpenGate said the PennySaver is the largest direct mail shopping publication in the United States, reaching 11 million people weekly. The publication includes coupons for a variety of businesses and advertisements for garage sales, pets, rental homes, new and used cars, and other items and services.

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: California
KEYWORDS: economy; layoffs; media; newspapers; pennysaver
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To: Zakeet

CRAIGSLIST.


21 posted on 05/24/2015 8:43:41 PM PDT by Drango (A liberal's compassion is limited only by the size of someone else's wallet.)
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To: dp0622
and since they shut down there adult section there haven’t been any mass murderer craigslisters recently :)

Just recently a woman in Longmont, CO lured a pregnant woman to her house through an ad in Craigslist, and attacked her. She cut the baby out of the pregnant woman, killed it, and almost killed the mother.

22 posted on 05/24/2015 8:44:56 PM PDT by Vince Ferrer
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To: jocon307; MeshugeMikey

>>>”It is now the only viable place to look for a job.”<<<

Not exactly:

http://www.indeed.com

http://www.jobvertise.com

http://www.ajb.dni.us


23 posted on 05/24/2015 8:46:56 PM PDT by 2ndDivisionVet (You can help: https://donate.tedcruz.org/c/FBTX0095/)
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To: jocon307
bingo:

Income Streams

Craigslist makes money only through a handful of revenue streams. It charges a $25 fee to post a job listing in six major U.S. cities. It charges $75 for a job listing in the San Francisco area Last, the company charges a $10 fee to list an apartment rental in New York. The revenues generated from these fees cover only the operating expenses of Craigslist. The company has not made a profit since its inception. This is intentional -- Craigslist president Jim Buckmaster has stated that creating a superior user experience is more important to the company than making money.

http://smallbusiness.chron.com/craigslist-money-27287.html
24 posted on 05/24/2015 8:47:01 PM PDT by MeshugeMikey ("Never, Never, Never, Give Up," Winston Churchill ><>)
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To: MeshugeMikey

People likely pay Craigslist to be at the top of any searchlist that people type in.

Just like Google.


25 posted on 05/24/2015 8:48:40 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: Fungi; MeshugeMikey

Craigslist makes money only through a handful of revenue streams. It charges a $25 fee to post a job listing in six major U.S. cities. It charges $75 for a job listing in the San Francisco area. Last, the company charges a $10 fee to list an apartment rental in New York.


26 posted on 05/24/2015 8:49:25 PM PDT by South40 (Hillary Clinton was a "great secretary of state". - Texas Governor Rick Perry)
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To: Zakeet

Less junk mail?


27 posted on 05/24/2015 8:49:41 PM PDT by sickoflibs (King Obama : 'The debate is over. The time for talk is over. Just follow my commands you serfs""')
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To: Zakeet

If old people read it, then they were probably republicans.


28 posted on 05/24/2015 8:54:22 PM PDT by ansel12
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To: South40
Thank you. I would rather place an add in a newspaper, pay for it and it is done. An online ad and everything about you is fair game for hacking. Am I correct? Yet I would love to see the dinosaur LA Slime, and the NY Slime disappear. As it is, I do not place adds and have not.
29 posted on 05/24/2015 8:56:56 PM PDT by Fungi
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To: 2ndDivisionVet

one of my good friends did too! Yeah she lived in Canada. She spoke Italian like him, they hit it off, they dated for a few years got married and now they have two kids. He was a heavy drinker and I think it was good for him. He was 38.
I’m happy that you got to meet a great gal through it.
I met my better half at a Catholic singles dance.


30 posted on 05/24/2015 8:58:16 PM PDT by dp0622
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To: Fungi

I own rental properties. An ad for one of my properties in a local newspaper can cost me hundreds where an ad on CL is free. There is just one problem I have encountered. I have had potential tenants inform me someone has used images of my unit(s) to run their own ads so they can try to get deposits from unsuspecting renters. Anyone who would give someone a deposit without being able to step foot inside the unit is a moron and is inviting their own fate.


31 posted on 05/24/2015 9:12:03 PM PDT by South40 (Hillary Clinton was a "great secretary of state". - Texas Governor Rick Perry)
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To: MeshugeMikey
It would be interesting if it turned out that Jim Buckmaster was someone who hated the MSM and purposely created Craigslist to deny newspapers their major revenue stream.

If I were a liberal I would suspect that the Koch brothers were secretly funding Craigslist, but then I would quickly move on from that and use Craigslist to score some dope and hook up with a kinky chick.

32 posted on 05/24/2015 9:12:49 PM PDT by who_would_fardels_bear
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To: Zakeet

In 1981 I found a Ford one ton pickup truck I kept for twenty years.

Lately I haven’t seen much of anything interesting for sale in the Pennysaver, and am NOT surprised at this news.


33 posted on 05/24/2015 9:13:18 PM PDT by rockinqsranch ((Dems, Libs, Socialists, call 'em what you will. They ALL have fairies livin' in their trees.))
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To: MeshugeMikey

They charge for certain postings - e.g. autos and jobs.

This generates something like $200M/year profit from $269M/year revenue.

They have a good thing going.


34 posted on 05/24/2015 9:15:17 PM PDT by some tech guy (Stop trying to help, Obama)
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To: Zakeet
Best news so far this year!
Every Wednesday. From garbaging up my mailbox direct to the recycle bag. I hate that thing.
35 posted on 05/24/2015 9:21:50 PM PDT by publius911 (If you like Obamacare, You'll LOVE ObamaWeb.)
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To: 2ndDivisionVet

Thanks, I’ll check those out.


36 posted on 05/24/2015 9:36:03 PM PDT by jocon307
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To: SierraWasp

Adapt or die. :P


37 posted on 05/24/2015 9:36:30 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: MeshugeMikey
how does craigslist make a profit?

From what I can tell, raping, robbing and killing.

38 posted on 05/24/2015 9:40:30 PM PDT by eddie willers
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To: funfan

“I would never use Craigslist ever and I tell my kids that all the time.”

it’s hit and miss with Craigslist and a very good training ground for life in the concept of “buyer beware”. You get to read people and read the situation if it’s a bad buy or not. Most people want cash instead of forking over a portion of it to Uncle Sam.

And Craigslist is NOT only for selling. People also use it to look for apartments because advertising on the city newspaper is too expensive. There are good and bad with it..


39 posted on 05/24/2015 9:43:14 PM PDT by max americana (fired liberals in our company last election, and I laughed while they cried (true story))
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To: MeshugeMikey

The personals are free. Other categories of ads for the most part (and there are a lot of them) require a fee to be paid to Craigslist. That’s my understanding. Please feel free to correct me if that’s wrong.


40 posted on 05/24/2015 9:47:19 PM PDT by 4Runner
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