Just Saliva in the Wind
"On Monday, the Grim Reaper himself -- George Riggs, president of the California Newspaper Partnership, MediaNews' regional subsidiary -- paid his first visit to Eureka. Dave Lippman, Times-Standard publisher, said Tuesday that the news from his meetings with Riggs wasn't entirely terrible. He did seem to indicate, though, that the parent corp wouldn't be raining money down on the T-S anytime soon.
It's strange, though. A couple of months ago, when the Times-Standard announced that Rich Somerville would be taking over the helm of the paper, there were smiles and high-fives coming out of its Sixth Street headquarters. Singleton himself had come to town to assure staffers that everything was going super-smoothly -- circulation was up, ad revenue was up, they were winning the fight against Arkley's Eureka Reporter and MediaNews was behind them 100 percent. Where'd that money go?
Because even though Lippman said that they haven't had to lay anyone off yet, he did confirm that there have been cutbacks. Turns out that the tiny fund that once boosted newsroom morale by funding the purchase of little edible treats is now history. "We've made some minor cuts like that," he said. "If you can trim a coffee-and-donuts budget rather than trimming human beings, that seems like a preferable approach, don't you think?" -source
"The T-S, Lippman said, has been fortunate in that it has been able to reduce expenditures through employee attrition, rather than directly showing employees the door. At the same time, though, he was loath to rule out layoffs in the future." -source
Well yippidie doo-dah aren't we just friggin' jolly to hand half our sports department and two of our best writers to the Arkleyville Regurgitator. Let's see if we can rip this useless kitchen sink out of socket so save on water bills.
Maybe I've been on my back for two months and don't see the whole enchilada but damn if that debt still don't compare to rising share prices. If the market's up who cares since 'da Fed ain't fooling with prime rates anytime soon. Singleton just don't see what he's dealing with but even billionaires get wake-up calls.