"This is a board that can challenge and advise the new Star Tribune CEO in crafting winning strategies and finding new revenue streams while operating the current business as efficiently as possible," Brad Pattelli, managing director of Angelo Gordon & Co., one of the Star Tribune's senior secured lenders, said in a news release. Pattelli is on vacation and did not immediately respond to an e-mail request seeking comment.
Wednesday, September 02, 2009
GateHouse Media CEO named to board of bankrupt newspaper
Looking for new leadership as it emerges from bankruptcy, the Minneapolis Star-Tribune has named new members to its board, including GateHouse Media CEO Michael Reed:
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5 comments:
When both the left and right don't like what you are saying you must be doing something right. Keep up reporting facts and it is their tough luck if they don't like what is being said.
Brother, talk about the blind leading the blind.
Reed is incomparably qualified to lead a bankrupt company. He's been doing it for three years now.
The downward spiral continues - check out this story - http://www.fitzandjen.com/2009/05/stiffed-morris-says-gatehouse-cant-pay-off-a-note-for-ten-grand.html
Gatehouse stiffed Morris for $10 million! The details are laughable.
The revenue is still going down company wide and people are looking for other jobs right and left.
It will be interesting to see what happens at the end of this year.
I work for a GateHouse paper, and we are suffering badly because the greedy execs MUST have their bonuses while cutting us hard workers' salaries, cut our hours, stopped matching our 401K.
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