As New Jersey’s largest paper teeters on the brink of extinction, a McClatchy exec tells his charges to buck up and don’t give in to “pessimism.”
This would be the same executive team that just cut the dividend it should have eliminated months ago by just half and announced even more job cuts. Meanwhile, they hold tight to rapidly aging platforms like CareerBuilder.com as if they will be worth more in the future than they are now. Insane.
We do get this little tidbit from Howard Weaver, however, on the topic of MNI unloading real estate. Some MNI parcels “are being marketed,” he relates. Anything in Uptown Charlotte? Say like a parking lot that could be part of $200m. publicly-financed project to “cap” 277?
Oh, and any MNI employees lurking out that might just want to stop reading right now. I am serious. You may not be able to handle Weaver’s official plan to save his company. Ready? “To evolve into a hybrid, multiplatform news, information and advertising company in select markets that employs efficiencies in technology and partnerships to operate profitably in a much more competitive world.”
So McClatchy will become Enron?
