FLASHBACK (yesterday):
"Behind a billionaire’s interest in the Globe; A new player for an old medium" by Beth Healy and Casey Ross, Globe Staff | August 8, 2009
.... Platinum has replaced or laid off six of the Union-Tribune’s top eight managers since taking over, and it cut 18 percent, or 192 people, of the staff three days after the deal was completed. It has also hired consultants to monitor the productivity of reporters and editors and is looking to rent out the top two floors of the newspaper’s headquarters.
There are fewer news pages, a stand-alone Sunday opinion section has been eliminated, and some of the paper’s most seasoned journalists are gone. Newsroom staffing is about 200 employees, down from 250 at the time of the sale, and another round of layoffs is expected next week, according to an executive at the newspaper who asked not to be named because he is not authorized to speak for the company.
Oh, Globe employees, did the NEW YORK TIMES ever cut off your d*** and shove it up your you know where!!!!!!!
Related: Newspapers Commit Suicide
Many of these cutbacks were implemented or set in motion by the previous owners of the Union-Tribune, the Copley family, before the paper was sold to Platinum. “The community has already seen such a decline that people feel it can’t become much worse,’’ said Lani Lutar, president of the San Diego County Taxpayers Association, a civic group. “They were hoping things would get better, but the recent reductions in the editorial staff and the size of the paper have been noticeable.’’
But Platinum executives talk about the purchase of the Union-Tribune as a long-term investment, one that depends on good journalism, not just lower operating costs. “We believe the newspaper will thrive long into the future as long as we support a quality product,’’ Louis Samson, the Platinum principal who led the firm’s acquisition, said in an interview with the Union-Tribune in May. “We think the business can be run more effectively. That includes not just containing costs, but attacking revenue opportunities and maximizing the value of the brand and the assets.’’
CHOP, CHOP, bye, GLOBE!!! Ever seen Wall Street by Ollie Stone?
Platinum executives said they are seeing early signs of progress.... But a controversy that arose shortly after the private equity firm took over left some in the community questioning Platinum’s temperament as a newspaper owner....
a culture of sexual harassment at Platinum....
They should fir right in:
"From the moment the Times Co. purchased The Globe in 1993, it has treated New England's largest newspaper like a cheap whore"
*************************
That's why your 401k is never coming back. They stole all that, 'murka.
While some in the news industry believe Platinum bought the Union-Tribune for its real estate, a person close to the firm suggested that the value of the property, while a big part of their thinking, serves mainly as a backstop in case the business doesn’t live up to its expectations: “That’s part of the hedging process.’’
Uh-oh, Globe employees!!!!!!
Read: A Future Without the Boston Globe
Don't you feel like SUCKERS now?
Hey, COME JOIN US out here where you can TELL the TRUTH!!!!!!!
--more--"
Yeah, I see it now.
It's not helping their sales, but what help is there when you are going down in flames? '
When an anchor is your life preserver?
When the MSM Monitor finally cuts you loose?
