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Gannett, Gatehouse talking merger

Discussion in 'Journalism topics only' started by SoloFlyer, May 30, 2019.

  1. Baron Scicluna

    Baron Scicluna Well-Known Member

    I remember when the old Gannett Blog from the late 2000s found out that the CEO Craig Dubow has something like a $5 million life insurance policy and a $10 million disability policy. The online commenters suggested someone could save the company $5 million just by offing Dubow.
     
  2. DanOregon

    DanOregon Well-Known Member

    They could have sung....
     
  3. Mngwa

    Mngwa Well-Known Member

    They were more Gannett layoffs yesterday? Anyone have this info?
     
  4. Tarheel316

    Tarheel316 Well-Known Member

    Where did you hear that?
     
  5. Mngwa

    Mngwa Well-Known Member

    It was mentioned in another thread. But Poynter didn't have anything
     
  6. Twirling Time

    Twirling Time Well-Known Member

    It was a Friday at the end of the month (and probably end of pay period too), so it was a triple witching hour for layoffs.
     
  7. bumpy mcgee

    bumpy mcgee Well-Known Member

    I don't know if they had layoffs at CND or are incorporating more papers to Austin, but our section went from two designers working on it to one early last week.
     
  8. Twirling Time

    Twirling Time Well-Known Member

    Word of advice: Screenshot your timecards.
     
    sgreenwell likes this.
  9. ChadFelter

    ChadFelter New Member

  10. LanceyHoward

    LanceyHoward Well-Known Member

    Blue font is appropriate.

    The company reported net cash flow of a negative 35 million dollars if you follow Generally Accepted Accounting Principals (GAAP). But the company then reported "adjusted cash flow" of a positive 78 million dollars. I leave it to you to decide if you believe GAAP or management's adjusted numbers.

    The company has about 160 million dollars in cash. If they are burning through about 35 million a quarter they have about five quarters left before bankruptcy. The company will also defer paying their FICA and pension obligations 50 million dollars or so this year under a provision of the CARE act that allows this. When the company has to pay those obligations will an interesting time for Gannett. But I have trouble believing a lot of reporters will be hired in front of that event.

    Gannettt said that they will raise funds in the following ways. One to to sell 125 million dollars of real estate. People wonder what real estate is still left to sell because a lot has been sold. And 40 to 45 million from selling papers with minimal cash flow. So it looks like the company will be sellers of papers.
     
  11. JayFarrar

    JayFarrar Well-Known Member

    Also screen shot your mileage reimbursements, then highlight the times you claimed mileage but didn't have hours on your timesheet.

    My former place was legendary for having everyone work "40 hours" on your timesheet but the mileage form had to be pristine, so I had lots of personal instances with mileage on a Saturday but "no hours" worked that day

    Just food for thought for those who might want to pursue a wage and hour claim with DofL someday.
     
  12. Baron Scicluna

    Baron Scicluna Well-Known Member

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