Monday, December 1, 2008

Tennessean making more than 20 percent profit while preparing to layoff 100 workers Wednesday

In a stunning revelation, has published profit numbers versus ad sales for 80 Gannett Co., Inc. newspapers across the country, including here in Nashville.

The numbers are for the first three quarters of 2007, ending Sept. 30. And here they are:

The Tennnessean made a profit of 21.38% on ad sales of $93.1 million.

Does your business advertising with The Tennessean makes this kind of profit? Do you get this kind of return on the high rates you pay to advertise in the newspaper in Davidson, Williamson and other counties?

Do you as a reader feel that you have been receiving a better product for all the profit being made? Or do you find less coverage of things important to you along with the width of the newspaper?

To be constructive in my criticism of The Tennessean's outrageous profit margins as it prepares to layoff 100 employees Wednesday, cut out the greed instead of jobs. Return to the workers, readers and advertisers real value for all that they invest to build better communities and families.

It gets worse. The No. 1 profitable newspaper in Gannett was in Green Bay, returning a 42.1 percent profit to its corporate masters.

Shame. Shame. Shame. And please, someone save, save, save the citizens of this republic who need a Press that puts its watchdog role ahead of outrageous profit and its own employees' lives.

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