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Finally! A voice of reason!

Discussion in 'Journalism topics only' started by steveu, Mar 13, 2008.

  1. steveu

    steveu Well-Known Member

    A vice-chairman of Hearst has basically told his colleagues to say goodbye to 30 percent profit margins and accept the realization that margins will be lower from here on out. He also said severe newsroom cuts would come back and bite a lot of companies in the ass.

    Harsh, but realistic article. Thought I'd throw it up for debate. Have at it.

  2. Ace

    Ace Well-Known Member

    Good for you, Mr. Vice-Chairman.

    Enjoy your forced retirement!

  3. Frank_Ridgeway

    Frank_Ridgeway Well-Known Member

    That's swell, but unless I read past it, the story should have said Hearst is privately held. I'm sure that's the first thing that his peers thought.
  4. Ben_Hecht

    Ben_Hecht Active Member

    "I think it would be fun to run a newspaper."

    -- C. F. Kane
  5. chazp

    chazp Active Member

    The point he makes about profit margins is a good one, but I'm sured he'll be ignored and companies will continue to think personal cuts are the best way to stay above their profit margin goals.
  6. personal cuts? Like Chef's?
  7. MartinEnigmatica

    MartinEnigmatica Active Member

    Could be, but it's something, at least. It might be a slow movement for more and more companies to adopt this kind of thinking. But if Hearst or whomever does the sensible thing by adjusting expectations for profit margins, and investing in a quality people to produce a quality paper, the greedy cut-meisters would be left in the dust and be shown for what they're really doing to news.
  8. This is a little bit of corporate suicide by the guy, isn't it?
  9. Mateo

    Mateo Member

    10 years too late.
  10. SoCalDude

    SoCalDude Active Member

    Toward the end of 2007, we saw publisher after publisher, in the face of staff cutbacks, say, with a straight face, that they were still going to maintain a competitive edge and a quality product.
    The publisher at my place, after a round of layoffs, told a staff meeting that he is not naive enough to think the paper can be as good as it was, but we needed to strive to make it as good as it could be with the staff we have.
    A lot of us gave him points for honesty. The CEO gave him a pink slip.
  11. Piotr Rasputin

    Piotr Rasputin New Member

    Agreed . . . . a decade too late. And it will fall on deaf ears now, as it would have then. But at least now it's a clear statement on the industry, and will be seen that way. Ten years ago, people would have laughed off such realistic doom and gloom.
  12. slappy4428

    slappy4428 Active Member

    You know, newb, that was a profound post. You should do that here more often.
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