More from Daytona Beach ... 39 laid off (14 total newsside incl. 2 sports)

[2muchcoffeeman]

http://www.news-journalonline.com/NewsJournalOnline/Business/Headlines/bizBIZ09070209.htm<blockquote>News-Journal Corp. employees will have to take a second, five-day unpaid furlough in the second half of this year, executive manager James Hopson announced Wednesday.

The company's revenue, especially from advertising sales, continues to lag, Hopson told company managers. "It's a tough time and the best we can do is get through it."

Employees, which now number about 550, also took five days of unpaid leave in the second quarter.

News-Journal Corp. is for sale and Hopson said negotiations continue with a buyer, but could give no time frame for when it will be completed.</blockquote>This follows the first round of furloughs during the second quarter of this year, along with company 401(k) contributions being cut to zero and replacing the former 37½-hour work week for hourly employees with a 40-hour week.

Honestly ... it's almost like the only reason anybody has for still working there is that there's no place else for employees to go right now, especially in the depressed Central Florida job market.

 

[OTD]

Re: More from Daytona Beach ... second round of 5-day furloughs

Honestly ... it's almost like the only reason anybody has for still working there is that there's no place else for employees to go right now, especially in the depressed Central Florida job market.

You could say that about most places, I suppose. I've got a lot of friends there, and I know they weren't too happy about the first round of "furcations" as one of them put it.

This graf stood out:

News-Journal Corp. is for sale and Hopson said negotiations continue with a buyer, but could give no time frame for when it will be completed.

So, does that mean that the deal with Heartland or whoever it was isn't going through? Is there any chance a local group could buy it?

 

[2muchcoffeeman]

Re: More from Daytona Beach ... second round of 5-day furloughs

Given that Wicks (which owns Heartland) just shut down Vibe, I'm beginning to wonder if there's indeed a "whoever." There was some rumbling that a "local group" was involved in the sale discussions at some point, but I can't imagine who that "local group" would be.

I'm wondering if Cox is still insisting on extracting its $129 million pound of flesh, even though it's clear the company is no longer worth the $300 million Judge Antoon pulled out of his ass (if indeed it ever was worth that much). Only offer allegedly extended was for $26 million, which is something like $75 million to $125 million less than a broker quoted last year.

Disclaimer: My family has a history with the federal judge in Cox v. News Journal (and no, we aren't the Davidson family). Basically, we have reason to have concluded he's an idiot long before Cox filed this suit. YMMV.

 

[OTD]

Re: More from Daytona Beach ... second round of 5-day furloughs

Given that Wicks (which owns Heartland) just shut down Vibe, I'm beginning to wonder if there's indeed a "whoever." There was some rumbling that a "local group" was involved in the sale discussions at some point, but I can't imagine who that "local group" would be.

I'm wondering if Cox is still insisting on extracting its $129 million pound of flesh, even though it's clear the company is no longer worth the $300 million Judge Antoon pulled out of his ass (if indeed it ever was worth that much). Only offer allegedly extended was for $26 million, which is something like $75 million to $125 million less than a broker quoted last year.

That's what I'm wondering. I mean, could the Davidsons (I guess Julia and Marc at this point) go to Cox and offer to buy out their share for say $20 million or so? That's more than Cox would've gotten from the Heartland deal, for sure.

Disclaimer of my own: My family has business dealings with a group close to the Davidsons. But objectively, it would still suck if some chain turned the N-J into the next incarnation of the Palatka Daily News

 

[Mizzougrad96]

Re: More from Daytona Beach ... second round of 5-day furloughs

Furloughs are a good thing given the alternative.

You get a week off, you get unemployment. It sucks, but it's nowhere close to sucking as much as losing your job or watching a co-worker lose their job.

 

[deskslave]

Re: More from Daytona Beach ... second round of 5-day furloughs

Furloughs are a good thing given the alternative.

You get a week off, you get unemployment. It sucks, but it's nowhere close to sucking as much as losing your job or watching a co-worker lose their job.

I think in Florida you don't get paid for your first week of unemployment. But this would be the second week for everyone in Daytona. Hopefully everyone registered for unemployment the first time around.

And to my knowledge, Cox hasn't sold any of the properties it has on the market.

 

[Colton]

Re: More from Daytona Beach ... second round of 5-day furloughs

Having just begun our THIRD round of furloughs, my editor as thrilled last night when I said in the newsroom, "three rounds amounts to a 6-percent paycut. If it continues in the final quarter, it will be 8 percent."

He was less than happy.

Oh well...

 

[Mark2010]

Re: More from Daytona Beach ... second round of 5-day furloughs

Well, at least with the furloughs, you get the free time, as opposed to working your tail off and getting 8 percent less.

 

[Colton]

Re: More from Daytona Beach ... second round of 5-day furloughs

Well, at least with the furloughs, you get the free time, as opposed to working your tail off and getting 8 percent less.

Circumstances are different everywhere, so while it appears that is the case, it is not at my shop, I assure you.

There isn't anything good about any of this for anyone, obviously.

 

[OnTheRiver]

Re: More from Daytona Beach ... second round of 5-day furloughs

I'm in a double-digit percent pay loss in 2009. No furloughs.

I'd gladly take the days off to go with it. As it stands now, I'm donating nine minutes of every work hour back to the company. Which is like getting ****ed in the ass. EVERY. DAY.

 

[2muchcoffeeman]

Re: More from Daytona Beach ... second round of 5-day furloughs

Furloughs are a good thing given the alternative.

You get a week off, you get unemployment. It sucks, but it's nowhere close to sucking as much as losing your job or watching a co-worker lose their job.

I think in Florida you don't get paid for your first week of unemployment.

This is correct. Greetings from Florida, the Chamber Of Commerce State.

 

[Mark2010]

Re: More from Daytona Beach ... second round of 5-day furloughs

Well, at least with the furloughs, you get the free time, as opposed to working your tail off and getting 8 percent less.

Circumstances are different everywhere, so while it appears that is the case, it is not at my shop, I assure you.

There isn't anything good about any of this for anyone, obviously.

Oh, do enlighten me? Do you actually work during your furlough period? I was under the assumption that furloughs were like an unpaid vacation.

I may be forced to take one, but I sure as hell ain't working during one.

 

[Colton]

Re: More from Daytona Beach ... second round of 5-day furloughs

Well, at least with the furloughs, you get the free time, as opposed to working your tail off and getting 8 percent less.

It comes down to this: If we go by the letter of what they are stipulating, it hammers the other two guys on staff. So what we do, is whatever's best for the 3 of US, as opposed to them. What we put down as furlough days are meaningless to our powers -- as long as they don't us, they don't care what's done and don't want to know, either.

For example, I gave one of my guys an extra day off each of the past two weeks -- just because I could. I know it sounds kind of confusing, but basically, it comes down to this -- the 3 of us are working together for what's best for us, not convenient for them.

How about that? We've come to an us-versus-them situation.

So damn sad...
Circumstances are different everywhere, so while it appears that is the case, it is not at my shop, I assure you.

There isn't anything good about any of this for anyone, obviously.

Oh, do enlighten me? Do you actually work during your furlough period? I was under the assumption that furloughs were like an unpaid vacation.

I may be forced to take one, but I sure as hell ain't working during one.

 

[deskslave]

Re: More from Daytona Beach ... second round of 5-day furloughs

Totally, totally understand where you're coming from, Colton. But this is EXACTLY what they want from you.

As much as possible, you have to allow the product to suffer. They want to get by with two-thirds of the resources? Then they get two-thirds of the product.

 

[duckncover]

Re: More from Daytona Beach ... second round of 5-day furloughs

Totally, totally understand where you're coming from, Colton. But this is EXACTLY what they want from you.

As much as possible, you have to allow the product to suffer. They want to get by with two-thirds of the resources? Then they get two-thirds of the product.

Have to agree here. I know it's tough to pull back like that, but if that's how they want to run their business then you have to give them what they want.

 

[Mark2010]

Re: More from Daytona Beach ... second round of 5-day furloughs

Yeah, Colton, if they expect to get the same amount of work out of 2 people as they would out of 3, they're even nuttier than I expected. It's business, and these business suits get what they pay for.

I DO understand where you are coming from. You're probably a good guy who takes pride in his work. But none of that seems to matter these days. Working hard and doing good work doesn't get you promoted, it doesn't get you a raise, it doesn't get you job security. It MIGHT get you a plaque. Worth it? You decide.

My last shop recently had a guy resign to get married and move. So, now in 12 months, they've gone from 5 full-timers to three. And no word on whether or not they will replace him, either.

Are they going to get the same product as before? ****, no. You want a better product? Buck up and hire someone, dip ****! It's not like there's a shortage of qualified candidates, some of whom would even work at below market wages.

 

[Mark2010]

Re: More from Daytona Beach ... second round of 5-day furloughs

Seriously, mate, these management types will run you into the ground to the extent that you allow them to.

They want you to get as much done with as few people as possible. show them you can get as much done with less people and I suspect you will be given the opportunity to do just that ..... on a permanent basis.

 

[2muchcoffeeman]

Re: More from Daytona Beach ... second round of 5-day furloughs

This graf stood out:

News-Journal Corp. is for sale and Hopson said negotiations continue with a buyer, but could give no time frame for when it will be completed.

So, does that mean that the deal with Heartland or whoever it was isn't going through? Is there any chance a local group could buy it?

Update time ...

According to the coconut telegraph¹, the sale to Wicks/Heartland is pretty much dead with no other buyers on the horizon.

Also ... here's a little related reading: http://tinyurl.com/n6yw7k


¹Hey, Moddy has the Pipeline and I have the coconut telegraph. I'm surprised I still know anybody who's still working at Peyton Place.

 

[deskslave]

Re: More from Daytona Beach ... Sale? What sale? Apparently, it's off.

The deskslave tin-can-on-a-string reports a handful of buyers remain active, and that at least one may well be being used to put pressure on Wicks. If that one were, in fact, to buy the paper, suffice it to say the paper, and its employees, would be in some serious ****.

 

[2muchcoffeeman]

Re: More from Daytona Beach ... Sale? What sale? Apparently, it's off.

The deskslave tin-can-on-a-string reports a handful of buyers remain active, and that at least one may well be being used to put pressure on Wicks. If that one were, in fact, to buy the paper, suffice it to say the paper, and its employees, would be in some serious ****.

Hell, if Wicks/Heartland bought the News-Journal the paper and its employees would be in some serious ****.