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Tribune Company orders $100 million in cuts.

Discussion in 'Journalism topics only' started by BTExpress, Sep 27, 2013.

  1. micropolitan guy

    micropolitan guy Well-Known Member

    Oh come on, emulating the labor practices of 19th-century coal mining magnates and making the worker pay for his/her tools out of his/her hourly wage is good business!!! All the traffic will bear!
     
  2. LanceyHoward

    LanceyHoward Well-Known Member

    In this case I think it is pretty clear the plan of managmeent is to place the most desirable assets in the television company. The most desirable asset of most of all the papers, and certainly the Chicago Tribune is the downtown real estate.

    The idea is to milk the newspaper into bankruptcy by pulling as much cash out as possible. When the newspapers go broke the television company still ash the real estate. And if Rupert Murdoch had pulled that on the Wall Street Journal the editorial writers would start to sound like George Meany.
     
  3. JimmyHoward33

    JimmyHoward33 Well-Known Member

    The plan to divide Tribune company into different divisions that (sort of) compete with each other and have different interests also reminds me of Eddie Lampert's genius idea to divide Sears into different divisions, with Kenmore and Crafstman competing for and "renting" space in the stores. That hasn't worked out so well for SHC.

    http://www.businessweek.com/articles/2013-07-11/at-sears-eddie-lamperts-warring-divisions-model-adds-to-the-troubles
     
  4. MileHigh

    MileHigh Moderator Staff Member

    Another Midwest-based company did this about give years ago. Didn't turn out very well for one of its flagship properties as hear as I can remember.
     
  5. daemon

    daemon Well-Known Member

    I suspect if you dig around you'll find plenty of media companies, not just publicly trade ones, that are greasing the skids in a similar manner. I almost feel bad for the Baltimore Sun union rep who is quoted. Like listening to somebody complain about the repetitively callous actions of an increasingly distant significant other. We're at the part of the movie where the expedition decides that it might as well start eating the dead body. These companies have spent the last five years milking all of the revenue that they can out of the print product, knowing full well it's eventual fate. Now, they are tying the tourniquet in preparation for the amputation.
     
  6. Riptide

    Riptide Well-Known Member

    That pretty much says it all.
     
  7. Drip

    Drip Active Member

    I've had enough of this soap opera.
     
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