Woe is They | News | Seven Days | Vermont's Independent Voice

Seven Days needs your financial support!

Woe is They 

The suits at Gannett, I mean — those dashing men and women charting the future of America's largest chain of "information centers," which includes The Burlington Free Press.

While we awaited a response — which never arrived — to the news that the Free Press had begun outsourcing advertising design to India, Gannett executives were releasing the company's latest quarterly performance report.

While holding their noses, presumably.

Here are the numbers: Publishing advertising revenue, down 13%; classified revenue, down 18%; real estate ad revenue, down 26%; help-wanted ad revenue, down 24%. The net result is that operating revenue for the first quarter 2008 is off more than 10 percent from first quarter 2007.

Over at Gannett Blog, former Gannett investigative reporter Jim Hopkins checks the financial wires and finds that the company's share price "has now traded down a whopping 8%, to a low of $25.17," the lowest since spring 1995.

Meanwhile, SmartMoney magazine has an interview with Gannett CEO Craig Dubow. The story notes, in the opening paragraph, that since Dubow took over the company  three years ago, its stock price has fallen by about 50 percent.  "Yetask the affable 53-year-old about the industry and he'll use a word youmight not expect: wonderful."

Well, for him, anyway — thanks to that $1.75 million bonus he received in 2007.

Got something to say? Send a letter to the editor and we'll publish your feedback in print!

Tags: ,

More By This Author

About The Author

Brian Wallstin

Comments


Comments are closed.

Since 2014, Seven Days has allowed readers to comment on all stories posted on our website. While we’ve appreciated the suggestions and insights, the time has come to shut them down — at least temporarily.

While we champion free speech, facts are a matter of life and death during the coronavirus pandemic, and right now Seven Days is prioritizing the production of responsible journalism over moderating online debates between readers.

To criticize, correct or praise our reporting, please send us a letter to the editor. Or send us a tip. We’ll check it out and report the results.

Online comments may return when we have better tech tools for managing them. Thanks for reading.

Keep up with us Seven Days a week!

Sign up for our fun and informative
newsletters:

All content © 2021 Da Capo Publishing, Inc. 255 So. Champlain St. Ste. 5, Burlington, VT 05401
Advertising Policy  |  Contact Us
Website powered by Foundation