Bakersfield Californian eliminates 12.5% of staff due to 'decline in real estate advertising revenue'
2007 Jun 27, 10:30am 9,928 views 48 comments
by HARM follow (0)
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Well, here's a pointed lesson for all you newspapers and "Main Street Media" outlets - keep on shillin' for the REIC, or this could be what happens to you!
I guess Sacramento isn't worth covering anymore?
Randy H
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2007 Jun 27, 10:40am
No conspiracy talk here. Just good, old fashioned corruption of the "free press".
At least we have the blogs (for now).
jukubot_activate :action => 'infiltrate', {:option => :delay }
DennisN
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2007 Jun 27, 10:41am
This must be the beginning of "HARMageddon".
I noticed that Forbes is behind the power curve again, stating that "loan originating officers" are a great job with unexpectedly high pay....
http://finance.yahoo.com/career-work/article/103141/Surprising-6-Figure-Jobs
DennisN
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2007 Jun 27, 10:46am
Any news on staff churn at the Modesto Bee, ground center of US REO activity?
eliminate 40 positions, 10 of them through layoffs
We can only assume that 30 of the employees were terminated via MURDER!?
@HelloKitty,
:lol: yeah, I was wondering about that too. Maybe they meant 'early retirement'.
DennisN
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2007 Jun 27, 11:10am
Maybe they told the staff that the paper was being acquired by Rupert Murdock, and 30 staffers dropped dead of sheer fright.
10% of 40 is 4. That would mean, 36 employees were fired without without cause.
Sorry, I misread this on another bolg about the percentage, 30 is the correct number.
On another note; The subprime mess is Re-Contained.
HelloKitty Says:
We can only assume that 30 of the employees were terminated via MURDER!?
Seppuku!
SP
"The layoffs include four newsroom positions and will involve closing the newspaper’s one-man Sacramento bureau."
So, basically the Sacramento "bureau" was some guy whose livelihood was _completely_ funded by RE advertising.
I hope this didn't impair his ability to report on the clusterfuck in Sacramento area real-estate.
SP
It's time for the poster that observed it would simply be easier for the SacBee to advertise the homes that *aren't* "for sale" to take a victory lap!
Now who was that? SP? OO?
Step forward and be recognized! :)
Perhaps the other 36 were just open positions which will not be filled? Though you never know how far an editor will go when pushed...
Comments 1 - 16 of 48 Next » Last » Search these comments
Source
Hmmm... let's see. The Bakersfield Californian just laid off 12.5% of it's staff due to lost RE ad revenue alone (though it is still running lots of RE ads, just not as many as before). So... basically, this means that during the bubble, an even larger % of their total payroll was directly tied to RE revenue --perhaps 25%, 35%, 50%?? Who knows?
Any possibility of that great a share of your revenue, uh, "influencing" your journalistic bias or editorial policy?
Naaah --that's just crazy conspiracy talk!
Discuss, enjoy...
HARM
#housing