Friday, July 13, 2007

One of worst quarters ever disheartening news for soon-to-be employee owners

According to LAT publisher David Hiller the good news is the Zell/ESOP deal is half way to completion, but the bad news is LAT revenue and cash flow is so far down, the last quarter was one of the worst quarters ever.

Hiller announced in today's mid-year business update memo to his staff that by running P1 ads, revenues could be increased by "several million dollars". (Quarterly? yearly?) Hiller goes on to explain the ads will "help pay for the content we create for our readers, and for our investment in new growth opportunities."

Remember, one way or another we all impact our revenue business. Everybody who creates content for our readers and users, or manufactures or delivers, or sells to advertisers, handles customer service, or touches our customers in any of the millions of ways we do each day – all of us can and do have an impact.

As always, I am eager to hear your comments and suggestions. Transforming this great company for the future really rests on all our shoulders. It’s a cross-company effort and, more than ever, we need to pull together.
Wonder if he and other top-level Tribune execs are listening to employee comments and suggestions regarding the $8.2+ billion debt the Zell/ESOP deal (if completed) that will "rest" on their shoulders?

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