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Comments to date: 14. This is page 2 of 2. | |
Eric Kallgren
Boulder, Colorado USA | Posted at 1:50pm on Saturday, April 4th, 2009 | The New York Times Company is threatening to shut down the Boston Globe unless the newspaper's unions agree to concessions, the Boston Globe reported on April 4, 2009:
"The New York Times Co. has threatened to shut The Boston Globe unless the newspaper's unions swiftly agree to $20 million in concessions, union leaders said yesterday.
Executives from the Times Co. and Globe made the demands Thursday morning in an approximately 90-minute meeting with leaders of the newspaper's 13 unions, union officials said. The possible concessions include pay cuts, the end of pension contributions by the company, and the elimination of lifetime job guarantees now enjoyed by some veteran employees, said Daniel Totten, president of the Boston Newspaper Guild, the Globe's biggest union, which represents more than 700 editorial, advertising, and business office employees.
The concessions will be negotiated individually with each of the unions, said Totten and Ralph Giallanella, secretary-treasurer of Teamsters Local 259, which represents about 200 drivers who deliver the newspaper.
"We all know the newspaper industry is going through great transition and loss,"' said Giallanella. "The ad revenues have fallen off the cliff. Just based on everything that's going on around the country, they're serious."
Totten said the Times Co. officials wanted the concessions within 30 days or else the paper would be shuttered, but Giallanella said officials did not mention a specific timetable."
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Eric Kallgren
Boulder, Colorado USA | Posted at 12:45pm on Thursday, March 19th, 2009 | March 9, 2009: In the article "The Ten Major Newspapers That Will Fold Or Go Digital Next" at the 24/7 Wall Street web site, Douglas A. McIntyre had a dire prediction for the Boston Globe:
"The Boston Globe is, based on several accounts, losing $1 million a week. One investment bank recently said that the paper is only worth $20 million. The paper is the flagship of what the Globe’s parent, The New York Times, calls the New England Media Group. NYT has substantial financial problems of its own. Last year, ad revenue for the New England properties was down 18%. That is likely to continue or get worse this year. Supporting larger losses at the Globe will become nearly impossible. Boston.com, the online site that includes the digital aspects of the Globe, will probably be all that will be left of the operation."
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Eric Kallgren
Boulder, Colorado USA | Posted at 1:12pm on Monday, January 19th, 2009 | On January 15, 2009, the Boston Globe reported that it will cut up to 50 jobs in its newsroom:
The Boston Globe, grappling with the economic downturn and financial pressures affecting the newspaper industry, yesterday said it plans to cut its newsroom payroll by as many as 50 full-time jobs, a reduction of nearly 12 percent in the company's news and editorial staff.
All of the company's 379 full-time news employees, including those at the Boston.com website, will be offered buyouts in coming weeks. If the company can't meet its target through voluntary departures, it said it would resort to layoffs of union and management employees. The company expects to complete the cuts in the next few months. In the past, newsroom buyout programs have attracted enough staff members to prevent the need for layoffs.
This will be the fifth newsroom staff reduction since 2001, as the Globe, like newspapers everywhere, struggles with the migration of advertisers and readers to the Internet, consolidation of the retail industry, and a recession forecast to be the deepest in decades. "The economic downturn hasn't helped," said Globe spokesman Bob Powers.
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Eric Kallgren
Boulder, Colorado USA | Posted at 1:45pm on Thursday, January 8th, 2009 | On January 7, 2009, the Boston Globe announced that it will start selling ads on its front page:
"The Boston Globe will soon join a growing number of newspapers nationwide that are selling front-page advertisements as a way to generate additional income.
Globe spokesman Bob Powers said today that the newspaper will start publishing front-page ads during the first quarter of this year, but is still working out the details, such as price, size, and location on the page.
The news comes two days after The New York Times Co., which owns the Globe, said it would sell front-page advertising and published an ad across the bottom of its flagship paper, The New York Times.
In recent years, some of the biggest US newspapers, including The Wall Street Journal and USA Today, have been running front-page as the industry battles revenue and circulation declines and readers migrate to the Internet."
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