There's nothing like an announcement of layoffs and outsourced production to send a company's stock value skyrocketing.
When GateHouse Media, owner of The Carthage Press, Neosho Daily News, Pittsburg Morning Sun, and more than 300 papers across the U. S., announced this week that it would be centralizing all of its design, with all big newspapers being designed in the Chicago area and smaller newspapers, like the local ones, being shipped off to Boston.
On the day, the announcement was made, GateHouse's stock value increased from six cents to seven cents per share.
Obviously, the sky is the limit.
3 comments:
Gatehouse takes poor newspapers and turns them into really poor newspapers!
It's time for a party in Fairport!
They do have people in Fairport, right? Or is the headquarters just a rented cubicle with a paper shredder that somebody comes by and feeds money into?
I have yet to see proof of it other than those form letters they send out to pat each other on the back and give out lateral move positions to other VPs. They stopped sending Kirk to the meetings after the first year. After the payroll cuts, they stopped coming altogether.
Post a Comment