Wednesday, April 1, 2020

Ouch!

The Clarion-Ledger is furloughing all employees making over $38,000 per year.  The employees will be furloughed for one week each month.

33 comments:

Anon-E-Mouse said...

Those poor people

Anonymous said...

People actually get paid to print that seditious birdcage liner? I assumed they were all communists "collectively" printing their leftist shill propaganda!

Anonymous said...

It's all of Gannett and it's for the next three months. Be good to get the whole story out there.

Anonymous said...

We can start making a list of institutions that will close, and never reopen after this. The CL is one. Millsaps College comes to mind also.

Anonymous said...

not that $38,000 annually is that great of a paycheck anyway

Anonymous said...

I will probably get blasted for saying this, but my opinion is I wish there was a way to put the whole world on "commission". Meaning you daily earn what you produce. While I hate to see anyone furloughed, some of these folks at the Clarion Ledger aren't worth $38,000, or even $20,000. That is my opinion. Many just aren't good at their job. Others are great at their job, but their attitude has alienated much of the subscriber base.

Anonymous said...

Good.

Hopefully, the doors will close soon.

Anonymous said...



Let's see if Donna will put her money where her mouth is and take pity on these poor souls by hiring every one of them.

Anonymous said...

I will look forward to that week more than any other week of the month

Anonymous said...

Didn't the CL do something similar to this a few years ago?

Anonymous said...

Everyone is gonna be furloughed in some capacity for the time being. EVERYONE. So quit with the CL jokes. Karma is coming...

Pappy Odaniel said...

All marginal businesses, like C-L, are in a jam. Canaries only the coal mine. Times like this blow up Ponzi schemes and scams as well. Bernie Madoff blew up because of the volatility. Can’t wait for some of these local yokel big dogs to go the way of Madison Timber. If you are investing in some “fund” run locally, or local “venture capitalist” or local “private equity” you might want to give them a call and see if it is even possible to get your money out. Probably too late. Also, just for general purposes you probably should never invest in a “fund” that when you google the name it pulls up larger, enormously capitalized funds that have similar sounding names.



Anonymous said...

@11:59 AM
I am a brilliant entrepreneur, not some working class schlub. I will never be furloughed. I already made my fortune.

Anonymous said...

I miss the old days of newspapers.

Anonymous said...

They could get fired, collect state and federal unemployment and make more than $38k a year.

Anonymous said...

If it closes, what will I use to line the bird cage or wrap my fish in?

Anonymous said...

12:25 that would only be too good of a punishment from the Clarion Ledger.

Anonymous said...

Gannett's stock price back in its prime I think was around $50 a share to day it sits at $1.24 a share. Now think about all those folks that are working today that have stock in their employee retirement plan.

Gannett spun off their broadcast assets a few years ago and left the print business float off into.....nowhere. The new broadcast company TIGNA has a stock price of $10.90 and it is down a little.

Anonymous said...

Learn to code!

Anonymous said...

The company he worked for went under and oldest son lost his job yesterday. It got serious. Told other son last night and he admitted he is very worried. Both have families. It is serious.

Anonymous said...

Whenever someone tells me their son or daughter is majoring in journalism I shudder. Parents don't raise your babies to be journalists. It is a massive dead end.

Anonymous said...

I remember when we got a morning paper (Clarion Ledger) and an afternoon paper (Jackson Daily News). Both were good papers and profitable during their heyday

Anonymous said...

Why is the Clarion Ledger still printing seven days a week.

Anonymous said...

@12:16

Yes, back when newspapers had educated reporters that could compose a sentence, editors that knew how to edit, proofreaders that could proofread, the news was reported as is and the editorializing was only on the editorial page.

Anonymous said...

I know Warren Buffett is smarter than any of us, but he suffered a serious brain cramp when he went heavy on Gannett a few years ago.

As for the CL, I haven't even seen a copy in a very long time. I do remember hearing a CL apologist 20 years ago bragging about how the CL critics couldn't do anything and to shut up. It looks like the CL critics did something.

Anonymous said...

@12:16 is correct. I loved when the media reported the news, rather than trying to invent the news. Just tell me what happened, and I will decide for myself (based on those facts) what my opinion should be. I don't need the media constantly telling me what my opinion should be.

Anonymous said...

If I send em' thee bucks, will they let me be a "CL-VIP".

Anonymous said...

why don't they do what the rest of the news media does, sit at home and read twitter. Then write stories about what was twit by some twat

Anonymous said...

But wait ... the C-L just increased my monthly print subscription rate last week & now it wants to deliver less?

Big-D said...

I haven't saw a Clinton Body Shop commercial lately have they gone out of business ???

Anonymous said...

The hedge fund that bought Gannett was looking for a reason to go all digital and this pandemic did just that for them. They are interested ONLY in the bottom line and would not know a journalist from a gigolo. That click you hear in the front door being padlocked!

Trust Me.. said...

Furlough is the next (and necessary) step before layoff. Layoff is the next (and necessary) step prior to shut-down. Some of the employees will celebrate, thinking they've been gifted with a couple of days (up to a week) of unpaid vacation. Time to shop, chill, get away from the grind, maybe group-trip down to New Orleans, etc...then they'll wake up on the skreet.

Anonymous said...

In any economic environment.. the weakest companies go belly up very quickly..
It’s just the survival of the fittest.. it happens when you borrow money with no
Cash flow to service your debt. Nothing new here.

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