Lee Enterprises will launch a food and home entertainment magazine this summer in St. Louis.
Catherine Neville, co-founder of Sauce Magazine in St. Louis, will be the publisher of the new publication. Sauce, an 11-year-old website-turned-magazine, is a free monthly St. Louis food publication. Neville sold her share of that business to her co-founder in February.
Wednesday, March 31, 2010
Monday, March 29, 2010
What does Post-Dispatch contract mean for Lee?
In its latest SEC statement, Lee Enterprises says the St. Louis Post-Dispatch contract with the St. Louis Newspaper Guild will save the company more than $30 million over the next five years.
"The Company estimates the contract changes will result in non-cash curtailment gains totaling $14,000,000, which will be recognized in March 2010, and are expected to further reduce operating expenses for the six months ending September 2010 by $1,300,000 and by an average of $1,800,000 on an annual basis over the life of the contract. The Company’s post retirement medical benefit and pension obligations will be reduced by approximately $6,500,000 and $2,000,000, respectively, in March 2010. Curtailment gains and changes in benefit obligations are subject to final actuarial calculations."
Saturday, March 27, 2010
Post-Dispatch guild approves contract
St. Louis Newspaper Guild members voted 132-54 to approve a five-and-half year contract with the St. Louis Post-Dispatch.
The contract includes a 6 percent pay cut for the duration of the contract and three furloughs between April 1, 2010, and Sept. 30, 2012; eliminates retiree medical benefits for current employees; freezes pensions; and guarantees no layoffs for six months.
(Via e-mails)
The contract includes a 6 percent pay cut for the duration of the contract and three furloughs between April 1, 2010, and Sept. 30, 2012; eliminates retiree medical benefits for current employees; freezes pensions; and guarantees no layoffs for six months.
(Via e-mails)
Friday, March 26, 2010
Former St. Charles Journal publisher dies
Bill Mullins, founding publisher of the St. Charles, Mo., Journal, died Saturday. Mullins started the Journal in 1957, which joined a chain of weekly papers, and served as publisher for 32 years. He retired in 1988. The chain was sold to Pulitzer Publishing in 2000, and to Lee Enterprises in 2005.
Suburban Journals subscription model failing?
More than a year ago, the Suburban Journals of St. Louis switched to from free to paid distribution. St. Louis Journalism Review reports that switch has not gone well: "The executives did not think the response would be as low as it was," said one ad rep. (Subscribe to the St. Louis Journalism Review to read the rest of the story.)
Seven Suburban Journals employees were laid off last week, and employees must take an unpaid furlough by the end of the fiscal year.
Seven Suburban Journals employees were laid off last week, and employees must take an unpaid furlough by the end of the fiscal year.
Thursday, March 25, 2010
Santa Maria Times lays off 5
The Santa Maria, Calif., Times laid off five employees in January. The paper also laid off eight employees last year, which had not yet been reported here.
That brings Lee's 2009 layoff total up to 525, and the 2010 total to 16.
(Via e-mail)
Report Lee layoffs or furloughs: Send an e-mail to lee.ent.watch@gmail.com from a non-work computer; anonymity guaranteed.
That brings Lee's 2009 layoff total up to 525, and the 2010 total to 16.
(Via e-mail)
Report Lee layoffs or furloughs: Send an e-mail to lee.ent.watch@gmail.com from a non-work computer; anonymity guaranteed.
Ahead of union vote, a look at Lee executives salaries
On Saturday, St. Louis Newspaper Guild members at the St. Louis Post-Dispatch will vote on Lee's "final offer" five-year contract. That offer includes a 6 percent pay cut through September 2015, a one-week unpaid furlough in 2010, 2011 and 2012, and a possible "snap-back" salary increase in 2013, 2014 and 2015.
Which gives us an opportunity to look at the salary of Lee's leaders. According to the company's proxy statement released in January:
Salaries for each executive decreased by 1.92 percent -- or approximately a one-week unpaid furlough. Total compensation includes bonuses, stock awards and retirement account contributions; fewer of those were awarded. From 2007 to 2008, each executive's salary increased by more than 3 percent.
If Junck followed the salary guidelines and furloughs the union will vote on:
Furlough represents one-week's salary, calculated by dividing the annual salary by 52 weeks. The "snap-back" is added if the company increases its annual revenue by at least 2 percent, which I am assuming in this example, and will result in a salary increase of 2.5 percent in the last three years of the contract.
If Mowbray, who in addition to being a vice president of publishing is also the publisher of the St. Louis Post-Dispatch, followed the same salary reduction and furlough schedule:
From 2008 to 2015, Junck's and Mowbray's salaries would have increased by 1.41 percent (assuming, of course, that there were no bonuses or other additional compensation).
Which gives us an opportunity to look at the salary of Lee's leaders. According to the company's proxy statement released in January:
| Name | 2009 salary | 2009 compensation | 2008 salary | 2008 compensation |
|---|---|---|---|---|
| CEO Mary E. Junck | $833,654 | $882,454 | $850,000 | $1,089,506 |
| CFO Carl G. Schmidt | $472,731 | $612,831 | $482,000 | $681,492 |
| VP Greg R. Veon | $354,058 | $381,337 | $361,000 | $487,315 |
| VP Kevin D. Mowbray | $328,558 | $353,328 | $335,000 | $452,383 |
| VP Vytenis P. Kuraitis | $262,846 | $283,413 | $268,000 | $370,266 |
Salaries for each executive decreased by 1.92 percent -- or approximately a one-week unpaid furlough. Total compensation includes bonuses, stock awards and retirement account contributions; fewer of those were awarded. From 2007 to 2008, each executive's salary increased by more than 3 percent.
If Junck followed the salary guidelines and furloughs the union will vote on:
| 6 percent pay cut | Furlough | Snap-back | Annual salary | |
|---|---|---|---|---|
| 2010 | $799,000 | $16,346.15 | $782,653.85 | |
| 2011 | $799,000 | $16,346.15 | $782,653.85 | |
| 2012 | $799,000 | $16,346.15 | $782,653.85 | |
| 2013 | $799,000 | $19,975 | $818,975 | |
| 2014 | $799,000 | $40,948.75 | $839,948.75 | |
| 2015 | $799,000 | $62,996.16 | $861,996.16 |
If Mowbray, who in addition to being a vice president of publishing is also the publisher of the St. Louis Post-Dispatch, followed the same salary reduction and furlough schedule:
| 6 percent pay cut | Furlough | Snap-back | Annual salary | |
|---|---|---|---|---|
| 2010 | $314,900 | $6,442.31 | $308,457.69 | |
| 2011 | $314,900 | $6,442.31 | $308,457.69 | |
| 2012 | $314,900 | $6,442.31 | $308,457.69 | |
| 2013 | $314,900 | $7,872.50 | $322,772.50 | |
| 2014 | $314,900 | $16,138.62 | $331,038.62 | |
| 2015 | $314,900 | $24,827.90 | $339,727.90 |
From 2008 to 2015, Junck's and Mowbray's salaries would have increased by 1.41 percent (assuming, of course, that there were no bonuses or other additional compensation).
Wednesday, March 24, 2010
Courier outsources call center, will lay off 4
The Courier in Waterloo, Iowa, will join the ranks of Lee Enterprises newspapers outsourcing its circulation call center to The Times of Northwest Indiana in Munster, Ind. Two full-time and two part-time employees will be laid off.
The memo from Courier publisher David Braton:
(Via e-mail)
The memo from Courier publisher David Braton:
Today we are announcing the regionalization of our Circulation Call Center. Effective March 31, 2010 subscribers calling The Courier will be handled by a call center at another Lee newspaper in Munster, Indiana. Local calls from subscribers related to stops, starts, vacations and delivery issues will be routed to Munster. Munster has access to our circulation system and will text message shortage drivers in Waterloo with instructions for deliveries.
We are familiar with regionalization since we are one of six finance centers in Lee. With this change comes the pain that 2 full time, 2 open positions, and 2 part time positions in Circulation have been affected by our regionalization.
David Braton
Publisher
Courier Communications
(Via e-mail)
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