'Bloody Monday at Kansas City Star'

LanceyHoward · May 5, 2011

LongTimeListener said:

Gary Pruitt continuing in the same job is truly one of the most baffling things in the history of the newspaper business and maybe in all of corporate America. Their stock dropped 98 percent in a three-year span after the acquisition of Knight Ridder, and it just never struck anyone that he wasn't the best choice as the man in charge. After a huge run-up from '09 to '10, from 75 cents a share to about seven bucks -- creative accounting and paper-shuffling is my guess on how to explain that -- they are again down 57 percent in a little more than a year.

Is there no shareholder that cares?
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McClatchy is family controlled. Family has seen thier wealth decline 90% or so but will not take action. Baffling.

LongTimeListener · May 5, 2011

LanceyHoward said:

LongTimeListener said:

Gary Pruitt continuing in the same job is truly one of the most baffling things in the history of the newspaper business and maybe in all of corporate America. Their stock dropped 98 percent in a three-year span after the acquisition of Knight Ridder, and it just never struck anyone that he wasn't the best choice as the man in charge. After a huge run-up from '09 to '10, from 75 cents a share to about seven bucks -- creative accounting and paper-shuffling is my guess on how to explain that -- they are again down 57 percent in a little more than a year.

Is there no shareholder that cares?
Click to expand...

McClathy is family controlled. Family has seen thier wealth decline 90% or so but will not take action. Baffling.
Click to expand...

But wouldn't someone in the family look at a guy who led them to a 98 percent drop in value and think "you know, maybe there's somebody better"? I guess the answer is that the mcclatchys are as impotent running newspapers as they are running the Pirates.

murphyc · May 6, 2011

I heard more cuts at The Olympian/Tacoma News Tribune. Olympian has even more of a skeleton newsroom now.

steveu · May 6, 2011

And we all thought KnightRidder was evil. Compared to some companies...

The No. 7 · May 6, 2011

I remember when I started in McClatchy less than 10 years ago, someone said to me, "You're at a McClatchy paper, you'll be set for life." How times have changed.

Bamadog · May 6, 2011

The No. 7 said:

I remember when I started in McClatchy less than 10 years ago, someone said to me, "You're at a McClatchy paper, you'll be set for life." How times have changed.
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I heard that too when I hired on at a McClatchy paper. Then they cut me, the desk guy. Then they cut the NFL beat writer who had broken a ton of stories and won some awards. And now...

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'Bloody Monday at Kansas City Star'

LanceyHoward Well-Known Member

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'Bloody Monday at Kansas City Star'

LanceyHoward Well-Known Member

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