Sorry cannot find the link. Bottom line it looks like they will only be printing the Saturday newspaper in Millbury which will result in 64 layoffs.
I am stealing this line from Jim Polito. When Bain company lays off people,it is vulture capitalism so when the New York Times is it also vulture capitalism?
Same Time Next Year
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It’s been nearly a year since I wrote about the problems that come from
having 11 bosses who are not on the same page about anything, as well as
suggestion...
4 months ago
7 comments:
Maybe someone can start making buggy-whips in the empty space in Millbury.
Seriously, the amount of material and resources involved in printing information on paper and delivering that piece of paper to your door is simply ridiculous.
Steve
I agree, but I bet you the reasons Bain had for closing whatever companies they closed were just as valid.
Bill
Bill,
Here is the link to the story in the T&G:
http://www.telegram.com/article/20120113/NEWS/101139519/1237
Two reasons why Romney's Bain work is "vulture"
1) Bain used leveraged buyouts to obtain the companies, where the assets of the bought company were used as collateral for the money Bain used to buy.
2) Dividend payments from the sometimes failing companies to Bain, which allowed Bain to profit regardless of the health of the company
Another point is that Bain was privately held. Creative destruction (or downsizing, streamlining, offshoring, etc.) looks a lot better when it translates to growth in your IRA, a lot worse when it's padding the pockets of a few fat cats.
So T&G Publisher Bruce Gaultney said deadlines will not change and morning delivery will not be delayed in spite of the paper being printed 50 miles away. I don’t buy that for a minute.
In fact Bruce Gaultney goes on to say further into the article, “Based on the new printing location,” he said, “some customers might get the paper later and some might get it earlier, but all customers should get the paper by our delivery deadlines.”
If memory serves me correct, delivery deadline for the Mon. through Fri. T&G is 7 a.m. I currently leave most mornings for work by 5 a.m. and my paper has been there all but two days since I started home delivery when my wife and I moved back to Worcester. I’ll be cancelling the paper pretty quickly if I get the paper by the delivery deadline which is long after I leave for work.
When a high number of subscribers do the same thing, they (NYT) will finally decide that the T&G cannot stand on its own and start delivery of the Boston Globe to metro Worcester with a 1 or 2 page local news section covering Worcester. When this happens, the suburbs around Worcester can forget about any news coverage at all.
With WTAG-AM 580 outsourcing their so called “local” news to a New York state news hub a year ago, it leaves the news coverage in Worcester pathetically thin if not non-existent. I can only hope that WCRN-AM 830 dramatically ramps up their news department if this scenario unfolds so that we get decent local news throughout the day rather than just in morning drive by Sherman Whitman.
To Steve Gore :), we all have desires for certain goods & services that although not 100% necessary do end up using energy. Myself, I still have a habit of joy riding when I go out for my morning coffee and wasting gas. (No innuendo here about others who may do similarly). I probably blow through 2, maybe 3 gallons a week doing it. Also buggy whip handles are made from wood :)
Hey when Obuma runs his campaign ad with Romneys Family dog in the dog crate on the roof of the car with dog feces all dripping down the back window of the station wagon, maybe Romney could in turn run an ad of Obuma driving a depression era station wagon with taxpayer $$$$$ blowing out the exhaust and economy $$$$$ in a tank on the roof of the car blowing out of the tank all over the interstate.
Mr Anonymous, please be advised99.99% of business buyouts are financed with borrowed money using the businesses assets as collateral. Dare I ask if you ever bought a car or house and used the newly acquired asset as collateral? Not only is this tried and tested method of acquiring assets been used for decades if not centuries, individuals as well as businesses use it.
Anonymous you then want to tar & feather Bain for taking dividends? Dividends are paid from profits that Bain generated, often from failing companies that they bought and turned around. Arent they entitled to something for their efforts and for any money they have tied up in the venture.
Now privately held co's are the scourge of the earth? Please remind me to avoid Randells Packie and Sprouts Flowers next St Paddy's Day and next Easter. I assume that you're an advocate of buying from Wally World, Friendly's Ice Cream, & Staples?
And speaking of padding the pockets of a few fat cats, Obuma ( the billion dollar campaigner) of course gets zillions from the likes of Goldman Sachs & the boys. But that's "OK" capitalism, right?
David, I agree with ya and have said it here before that the T&G news will someday morph into a Wednesday mid week section of the The Bawstin Glob.
David can we also outsource Jordan? This dinosoar has seen its better days and sometimes I tire of Howie and would like to be able to tune into a local voice.
And some enterprising venture capitalist may someday introduce a central Mass internet only newspaper in Worcester County?
Steve, sorry I mean to mention that I agree 110% w/you re: the amount of material & resources involved in delivering that piece of paper (newspaper) to our doors.
So it makes me wonder if the post office should have been put out of its misery 5 to 10 years ago b/c 99% of what the PO delivers can be handled via internet and PO is alos a waste of resources. The answer is yes, it shoulda been put out of business or at least downsized/changed by 90%...yet it still continues onward only b/c the tax paying public subisizies it and the politicians dont want to put peopel out of work.
So to anonymous should
a. the PO continue onward w/taxpayers subsidies or
b. should the likes of a Bain Capital take it over and try to save it and if unable to save it at least in it's current form downsize it or
c. give it the death sentence that politicians wont do.
Sometimes someone has to do lifes crappy work like
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