The Retch is all about employees taking action. But it occurred to me recently that we have to encourage the community to take action as well. The Los Angeles Times is important to us. But it's also important to our readers, to community leaders, to everybody who cares about Southern California, and democracy and great news and the comics and movie reviews and -- well, everything in the paper.
To that end, check out the petition on the left rail. It calls for Sam Zell to add two seats to the Tribune board of directors: one to represent the workers and another to represent readers. If you agree with that sign now! Or visit the petition site.
Workers deserve a seat at the table because we are owners of the company through the Employee Stock Ownership Plan, the fiendishly complex financing instrument which Zell used to purchase the company last year in his waaay over-leveraged buy out of the company.
Locals deserve a voice because they are what the paper is all about: the community. A reader representative on the board of directors would help shape and guide the newspaper to best accomplish its public service mission.
Yes, there are a lot of details to work out. Yes, a petition might be ignored. Yes, it's unclear whether some of Zell's lieutenants can even read.
What's the alternative, dry-eyed skeptic? We can sit at our desks and read Romenesko. Or we can try to act in every way we can to save the newspaper.
I'll say it again. It's up to us to inflict paper cuts. If each of us chips in to do something, big or small, audaciously or quietly, it helps. It can be organizing a union, an effort which continues to trickle along. Or it can be signing a petition.
Whatever it is, act. Don't just sit there and wait for the next round of layoffs, for the next round of fearful glances across the ever-more empty desk spaces, for the next round of Gosh, I hope I make it to 50. Get up. Dance, shout, sign, organize, run, jump, post, write, blog. Whatever. Do your part to try to take back the Times and continue its role as a fierce, competitive, ambitious news voice for Southern California and the rest of the world.
Thursday, August 14, 2008
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8 comments:
what "public service mission"?
the Times is a business. it's mission is to provide value to the stockholders by turning a profit. any other "mission" is secondary to that, and quite possibly a hindrance to achieving it.
certainly, focusing on this "public service" at the expense of the bottom line will eventually lead to not achieving either goal, since it'll be hard to provide said "service" if the paper closes.
it's the inability of some people to grasp this basic fact that is part of the problem.
Hey redc1c4,
To answer your question about the "public service" mission of the press, try this, the First Amendment to the Constitution. That's the US Constitution, something I would think a big college guy like you (I checked your LJ blog) would be familiar with:
CONGRESS SHALL MAKE NO LAW RESPECTING AN ESTABLISHMENT OF RELIGION, OR PROHIBITING THE FREE EXERCISE THEREOF; OR ABRIDGING THE FREEDOM OF SPEECH, OR OF THE PRESS; OR THE RIGHT OF THE PEOPLE PEACEABLY TO ASSEMBLE, AND TO PETITION THE GOVERNMENT FOR A REDRESS OF GRIEVANCES.
The Bill of Rights to the U.S. Constitution was ratified on December 15, 1791
btw: "posting" is spelled p-o-s-t-i-n-g, not "poasting" as you have it in your blog.
A petition? How about bumper stickers or a big sign? Oh yeah, we've already tried that. Here's an idea, how about the employees find some venture capital (or pitch in their own money) to buy a seat at the table. Put up about $50 million or so, that only equates to about $2500 per employee. That'll get you some say in the process.
Anon 08/15 6:54 PM,
Our money IS in this deal. For God's sake, do you READ at all? Don't you KNOW how this deal is structured? We're contributing a lot more than $2,500 each. Please don't try to be a smartass when you don't know what the hell you're talking about.
"Please don't try to be a smartass when you don't know what the hell you're talking about."
obviously, they were channeling a Times editorial writer.
redc1c4,
a smart ass who *knows* what he's talking about. %-)
"redc1c4,
a smart ass who *knows* what he's talking about. %-)"
You do, eh? Tell me then, what was the average after-tax profit of larger [by circulation and market cap] public stock newspaper companies from 1984 through 1994?
Don't know? Take a guess. [BTW, if you go looking for the answer, don't include TRB in the equation because during that time period it was primarily a broadcast media company.]
"A petition? How about bumper stickers or a big sign? Oh yeah, we've already tried that. Here's an idea, how about the employees find some venture capital (or pitch in their own money) to buy a seat at the table. Put up about $50 million or so, that only equates to about $2500 per employee. That'll get you some say in the process."
The little bastard used my pension for this deal. If he runs the joint into C11 or worse, I get screwed again. So don't tell me I need to pony up any more cash.
dear anonymous:
what, exactly, do the profits of companies years ago have to do with whether or not the Times has a "public service" mission in addition to it's fiduciary responsibility to it's shareholders?
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