They reported a 10% drop in revenue in November. Their circulation numbers keep dropping.
This is despite the fact that they've cut staff three times in the past year or two, the latest including the latest cut of 39 more people.
And with less reporters and less staff, the paper keeps shrinking in size and in coverage. To make things even worse for them, when their editorial board does cover something, they're getting it wrong - a lot.
But despite having the paper circling the proverbial drain, they still manage to give one of their departing top executives a sweetheart deal worth almost a half a million dollars.
I'm sure it will be only a matter of time before they go begging for a federal bailout. But I think Gretchen Shuldt put it best:
Wow. The paper shrinks, the stock falls, layoffs happen, employees and retirees suffer and big payouts happen at the top. Go figure.
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Wow, almost as bad as Milwaukee County.
ReplyDeleteI presume your talking about the pension benefits, Dan. Are you aware that most of the big money pensioners from the county were non-represented employees, meaning Walker could have taken those benefits, like he promised to, but didn't?
ReplyDelete