Phil Currie gives another "Information Center" pep talk,.
Too bad he can't actually point out any of the so-called successes of the Information Center concept. And what is this wave of innovation Gannett is riding? Maybe it's the supper narrow format, or the adscape ads designed to blur the line between paid and non-paid information. Maybe it's the reduced news staffing, or gutted pension plan.
Thursday, June 26, 2008
Friday, June 13, 2008
Before you know it we'll be printing on ticker tape
The Visalia (Calif.) Times-Delta and Tulare (Calif.) Advance-Register converted to 44-inch-wide webs, in the process becoming the first North American broadsheets to adopt the narrower format.
The Gannett Co. Inc. dailies made the switch Aug. 6, according to Amy Pack, president and publisher of the papers.
The Times-Delta and Advance-Register didn’t make any major changes in their design to accommodate the narrower pages, Pack said, outside of moving a few features from the classified section into the comics page.
The news hole, she said, remained virtually the same. “We had maybe a net loss of 30 words, which we have been able to get back by tweaking some of the breakout elements,” she said.
Although the Times-Delta and Advance-Register are the first Gannett papers to convert to 11-inch-wide pages, they may not be the last.
Austin Ryan, Gannett’s vice president of production, said Gannett is conducting a site-by-site evaluation of its other papers to see if a similar change to 44-inch-wide webs can be made in those markets. “In those markets where we feel it’s doable we are making the change.” The evaluation covers both singlewide and doublewide press sites, he said.
The Times-Delta and Advance-Register’s moves to 11-inch-wide pages reflects the increasing pressure U.S. publishers are under to keep a tighter rein on newsprint costs. Pack said she expects to reduce the papers’ annual newsprint consumption by more than 5 percent.
Getting thinner
North American newspapers have been reducing their page widths at an accelerated pace over the last several years. Some milestones:
•1992 — Toronto Star first paper to adopt 50-inch web.
•2004 — News & Observer in Raleigh, N.C., first to move to 48 inches.
•2005 — The Bismarck (N.D.) Tribune first to move to 46 inches.
•2006 — Journal and Courier in Lafayette, Ind., switches to Berliner format that features cutoff of 18.5 inches and web width of 48 inches.
•2007 — The Visalia (Calif.) Times-Dispatch and Tulare (Calif.) Advance-Register first to move to 44 inches.
The Gannett Co. Inc. dailies made the switch Aug. 6, according to Amy Pack, president and publisher of the papers.
The Times-Delta and Advance-Register didn’t make any major changes in their design to accommodate the narrower pages, Pack said, outside of moving a few features from the classified section into the comics page.
The news hole, she said, remained virtually the same. “We had maybe a net loss of 30 words, which we have been able to get back by tweaking some of the breakout elements,” she said.
Although the Times-Delta and Advance-Register are the first Gannett papers to convert to 11-inch-wide pages, they may not be the last.
Austin Ryan, Gannett’s vice president of production, said Gannett is conducting a site-by-site evaluation of its other papers to see if a similar change to 44-inch-wide webs can be made in those markets. “In those markets where we feel it’s doable we are making the change.” The evaluation covers both singlewide and doublewide press sites, he said.
The Times-Delta and Advance-Register’s moves to 11-inch-wide pages reflects the increasing pressure U.S. publishers are under to keep a tighter rein on newsprint costs. Pack said she expects to reduce the papers’ annual newsprint consumption by more than 5 percent.
Getting thinner
North American newspapers have been reducing their page widths at an accelerated pace over the last several years. Some milestones:
•1992 — Toronto Star first paper to adopt 50-inch web.
•2004 — News & Observer in Raleigh, N.C., first to move to 48 inches.
•2005 — The Bismarck (N.D.) Tribune first to move to 46 inches.
•2006 — Journal and Courier in Lafayette, Ind., switches to Berliner format that features cutoff of 18.5 inches and web width of 48 inches.
•2007 — The Visalia (Calif.) Times-Dispatch and Tulare (Calif.) Advance-Register first to move to 44 inches.
Thursday, June 12, 2008
Gannet freezes pension plan
Dear Co-workers:
Beginning Aug. 1, Gannett will freeze the Gannett Pension Plan and improve the Gannett 401(k).
Freezing the Pension Plan means:
* On Aug. 1, your pension plan benefit will be frozen. It will not continue to grow (based on your years of service and final pay) as it did in the past.
* All your benefits currently in the Pension Plan remain there for your retirement.
* A cost-of-living allowance will be applied to your frozen benefit to help protect it from inflation.
Gannett is improving the 401(k). The new match for the Gannett 401(k), beginning Aug.1, will be:
* Gannett contributes $1 in Gannett stock for every $1 you contribute (up to 5% of your pay).
* Most Gannett employees now receive a 50-cent match in Gannett stock for every $1 (up to 6% of your pay).
* This is a large improvement in the 401(k) match.
It is important to know that even with the improved match in the 401(k), nearly all employees at every level will see a diminished benefit.
Freezing the pension plan benefit is another important step in keeping Gannett financially strong. This change will mean a considerable savings for the company even after returning significant dollars to employees through the enhanced 401(k).
I want to stress that today’s benefit change action is unrelated to Monday’s announcement that we will record an approximately $2.3 billion to $2.8 billion, after tax, non-cash impairment charge. They are, however, driven by the same underlying cause: the very difficult business environment.
We are not alone in making the benefit changes. There is a strong, worldwide trend to limit benefits in pension plans and shift to a more 401(k) based system. Also, enhancing the 401(k) plan makes us more attractive to those employees who especially value these portable, self-directed plans.
As a result of these changes, it is now even more important for employees to take responsibility for their own retirement. An important beginning is enrolling and contributing as much as you can to the improved 401(k).
Attached to this email is a booklet, Key Messages for Employees, explaining these retirement plan changes in more detail. Key Messages will answer many of your important questions.
Plus, in the next few days, you will receive a Personalized Benefit Statement, mailed to your home, showing your current benefit in the Pension Plan (this is the amount that will be frozen beginning August 1st) and information about the 401(k).
There is also a telephone Helpline, opening on June 12th, that can answer your questions about the Personalized Benefit Statements.
Your operating unit head and/or HR representatives received a briefing about these retirement plan changes earlier today. In the upcoming days, as they become more familiar with the change, they can also play an important role in explaining this change.
Sincerely,
Craig
Thanks, Gannett, for abandoning your employees
Beginning Aug. 1, Gannett will freeze the Gannett Pension Plan and improve the Gannett 401(k).
Freezing the Pension Plan means:
* On Aug. 1, your pension plan benefit will be frozen. It will not continue to grow (based on your years of service and final pay) as it did in the past.
* All your benefits currently in the Pension Plan remain there for your retirement.
* A cost-of-living allowance will be applied to your frozen benefit to help protect it from inflation.
Gannett is improving the 401(k). The new match for the Gannett 401(k), beginning Aug.1, will be:
* Gannett contributes $1 in Gannett stock for every $1 you contribute (up to 5% of your pay).
* Most Gannett employees now receive a 50-cent match in Gannett stock for every $1 (up to 6% of your pay).
* This is a large improvement in the 401(k) match.
It is important to know that even with the improved match in the 401(k), nearly all employees at every level will see a diminished benefit.
Freezing the pension plan benefit is another important step in keeping Gannett financially strong. This change will mean a considerable savings for the company even after returning significant dollars to employees through the enhanced 401(k).
I want to stress that today’s benefit change action is unrelated to Monday’s announcement that we will record an approximately $2.3 billion to $2.8 billion, after tax, non-cash impairment charge. They are, however, driven by the same underlying cause: the very difficult business environment.
We are not alone in making the benefit changes. There is a strong, worldwide trend to limit benefits in pension plans and shift to a more 401(k) based system. Also, enhancing the 401(k) plan makes us more attractive to those employees who especially value these portable, self-directed plans.
As a result of these changes, it is now even more important for employees to take responsibility for their own retirement. An important beginning is enrolling and contributing as much as you can to the improved 401(k).
Attached to this email is a booklet, Key Messages for Employees, explaining these retirement plan changes in more detail. Key Messages will answer many of your important questions.
Plus, in the next few days, you will receive a Personalized Benefit Statement, mailed to your home, showing your current benefit in the Pension Plan (this is the amount that will be frozen beginning August 1st) and information about the 401(k).
There is also a telephone Helpline, opening on June 12th, that can answer your questions about the Personalized Benefit Statements.
Your operating unit head and/or HR representatives received a briefing about these retirement plan changes earlier today. In the upcoming days, as they become more familiar with the change, they can also play an important role in explaining this change.
Sincerely,
Craig
Thanks, Gannett, for abandoning your employees
Monday, June 9, 2008
Letter to the staff announces "accounting event"
Dear co-workers:
Today we announced Gannett would record non-cash impairment charges of an estimated $2.3 billion to $2.8 billion to after-tax earnings at the end of the second quarter. This is an accounting event - and I stress accounting event - that I believe needs explaining.
Let me begin by assuring you that the company remains healthy. This charge will not hold us back in any way: We can pay our dividends and our debts, make strategic acquisitions and investments, and repurchase shares of our stock. There is no impact on our strong cash flow.
Most importantly, we are continuing to move aggressively forward with our strategic plan. As I told Wall Street analysts this morning, I believe we are leading the transformation of the media industry.
Basically, this charge is a result of the challenging business environment and worsening economic conditions in the U.S. and UK. As I'm sure you know, these conditions have had a significant impact on our stock price. Under current accounting rules, this requires us to take a non-cash impairment charge to reflect the change in stock value.
Again, it's an accounting event. Nothing about our company or its prospects changes as a result of this non-cash charge. Plus, I can't state strongly enough my belief that our current stock price does not accurately reflect the true value of our company or its potential.
I am confident we have a great future ahead of us. So thank you for your loyalty and hard work. As always, I deeply appreciate all you are doing for Gannett.
Sincerely,
Craig A. Dubow, Chairman, President and CEO
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