Wednesday, January 21, 2009
Media Gannett Exec Flies to Tucson to Shutter Paper, Play in Big Bucks Celebrity Golf Tourney
Posted by PJ Tobia on Wed, Jan 21, 2009 at 1:32 PM
"We all will be sharing the financial hardship," Dickey told
Gannett employees earlier in the week, after Gannett--parent company of the Tennessean--announced mandatory unpaid vacations for employees.
Dickey, it turns out, will be sharing the hardship by entering
Bob Hope's Chrysler Classic golf tournament, with an entry fee as high as $25,000
for amateurs. He's really feelin' the worker's pain!
As one poster on the excellent Gannett Blog put it:
"I hope this is not coming out of the Gannett expense account. Not after I have had employees in my office crying about how they are going to lose $500 of their weekly wages because of the furlough and they will not be able to afford their rent and utility bills."
Comments (1)
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Shuttering newspapers not because they aren't profitable, but because they aren't profitable enough? Tuscon's profit margin looks pretty healthy at 28.26% -- healthier than the Nashville Tennessean.
I guess the free hand of the market is greedy.
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