Posted on 08/02/2007 3:28:10 PM PDT by abb
Memo from St. Louis Post-Dispatch publisher
August 2, 2007
Dear Colleagues:
As you know, 2007 is proving to be a difficult year for the newspaper industry. While St Louis is performing well in a tough operating environment with many successful revenue initiatives in place, we need to continue to look at costs as we face challenges in key revenue categories.
Thanks to many of your efforts, we have been controlling costs for some time now, having made significant cuts throughout the year. But because such a large part of our costs are in labor, we thought we needed to look at this area. Many other newspapers are also taking similar measures.
Today we are announcing an early retirement offer in certain departments. This offer will allow us to cut expenses while allowing employees with 10 years of service and above and at least 50 years of age an enhanced buyout package. HR will be sending you a general announcement of this offer with more details. All eligible employees will be able to get a package from HR with all of their specific information starting tomorrow.
While these are challenging times, I still believe in the resilience of this industry and in particular, this paper. This is a great market. Our actions now will enable us to face 2008 and beyond in a much better position.
I know that this will be a difficult time as many of our colleagues decide whether to take this offer. We must remain focused and think of the future. I have great confidence in our ability to continue to be a successful enterprise. This can't happen without your help.
The attached document contains an overall view of the details. Don't hesitate to go to HR with your questions about the benefits and buyout. They are here to help you every step of the way.
Thank you for everything that you do every day.
Sincerely, Kevin Mowbray
Ping
"There was a land of Publishers and Editors called the Newspaper Business... Here in this pretty world Journalism took its last bow... Here was the last ever to be seen of Reporters and their Enablers, of Anonymous Sources and of Stringers... Look for it only in books, for it is no more than a dream remembered. A Civilization Gone With the Wind..."
With apologies to Margaret Mitchell...
So many newspapers are in financial trouble.
I know part of it is the internet and cable news networks on TV that siphon off their readers.
How much of the papers problems is that they have had monopolies in many cities in recent years? Many big cities have only one daily paper anymore. Could it be that they have gotten big and bloated?
I’m watching all this with interest. I really have to wonder what the newspaper business will look like in 5 or 10 years. Will some papers stop publishing print editions and just be on the web? Will some papers just go out of business, as afternoon papers did in most places years ago?
Yes.
Why can’t these newspapers simply go completely online, and maybe print out weekend/holiday editions or something.
The revenune from online advertising is a mere fraction of the money needed to float the huge infrastructure required to publish a dead tree paper. Reporters, deadhead editors, printing presses, deliverymen, etc. etc. The competition for online advertising is fierce and that drives down prices.
Bottom line, for years broadcast and print were the only game in town for advertisers for many, many years. The printers and broadcasters, like all monopolies eventually do, gouged the hell out of their customers. It's now payback time.
My old home town ultra liberal newspaper going under?! GREAT NEWS!!!
Description: A fast-track expansion of the Post-Dispatch printing facility allows the paper to consolidate its printing operations in St. Louis County to improve efficiency in producing and delivering the daily newspaper. The project required Brinkmann to complete the new addition on an accelerated schedule without disrupting newspaper production.
Subcontractors: Ibrahim Engineering, Wiegmann & Associates
I feel the same! Great News. (This spring I was asked in my grocery store to accept a free subscription to the Post. I declined. The guy actually got mad and loudly asked why I would turn down something for free. I simply said that even free, the PD is so liberal, I will not allow it in my house.)
MOgirl
pump
LOL about the Post!
We have had a fine summer, no tornadoes. Earlier this month we had about a week of cool weather, it was really nice. Now, typical temps, it hit 95 or so today.
Creve Coeur? Nice area. We live in Fenton, but I worked off of North New Ballas for many years.
:)
MOgirl
abb, will send email to certain writer’s to see if they even know about this. I can think of 1/2 dozen that are over paid.
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