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McClatchy to Declare Bankruptcy?

Discussion in 'Journalism topics only' started by LanceyHoward, Nov 14, 2019.

  1. Mr. X

    Mr. X Member

  2. Sam Mills 51

    Sam Mills 51 Well-Known Member

    ... yet the CEO will continue to get a five-figure housing allowance.

    ... yet the executives still get bonuses ... for what? Whacking more people? For doing a crap job?

    ... yet an outgoing VP got a two-installment payment of $750K within 60 days of a round of cuts years ago.

    McClatchy has been grossly mismanaging the books for years. But give that story some credit ... they backtracked to McClatchy's $4.5B purchase price of K-R. Then the economy tanked. Oops.

    Gambled. Lost. But, as usual, the people making the gambles get bigger bonuses, while the rank-and-file trying to make it work get the gate.
     
    Batman, maumann and HanSenSE like this.
  3. Tarheel316

    Tarheel316 Well-Known Member

    Is this as bad as Lee and Mary Junck?
     
    HanSenSE likes this.
  4. Michael_ Gee

    Michael_ Gee Well-Known Member

    You know, if I were a gazillionaire running for President, I might consider using a small chunk of my fortune to buy this chain at bankruptcy sale prices and thus be considered a civic hero in several vote-rich communities.
     
  5. Sam Mills 51

    Sam Mills 51 Well-Known Member

    Pretty close. Junck has, of course, been compensated well by Lee as the company dumps people at an alarming pace.

    Robyn Tomlin of The News & Observer tries to calm the Triangle readership with the following:

    https://www.newsobserver.com/news/business/article240308906.html

    While the bankruptcy filing this week has no effective or immediate impact on our staff, our readers or relationships with our advertisers, it is important to note that there’s a lot at stake here.

    Poor use of "impact" ... and what staff is there left to "impact," anyway? Nice try.
     
    Last edited: Feb 16, 2020
  6. LanceyHoward

    LanceyHoward Well-Known Member

    How large is the staff at the Raleigh and Charlotte papers?
     
  7. Batman

    Batman Well-Known Member

    And then he could order them not to investigate his campaign. It's a win-win!
     
  8. Tarheel316

    Tarheel316 Well-Known Member

    That’s about what I figured.
     
  9. Matt Stephens

    Matt Stephens Well-Known Member

    In sports, we have six reporters, one columnist and two editors based in Raleigh. We have five sports reporters, one columnist and one editor based in Charlotte (yours truly), plus two open reporter spots we're still filling -- including second Panthers beat reporter.
     
    maumann likes this.
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