Posted on 10/29/2009 4:03:37 PM PDT by abb
Signaling that worse times are ahead for magazines, Time Inc. is expected to announce next week that it will cut $100 million from costs, including another big round of layoffs.
The timing is coordinated with parent company Time Warner’s third-quarter earnings announcement, sources said, scheduled for Wednesday morning.
Time Inc., the publisher of titles like Time, Fortune, and People, has already cut costs dramatically: a year ago, it announced it was dismissing 6 percent of its work force, or about 600 people.
That was apparently not enough to make up for revenue declines. The $100 million in costs is expected to come largely from layoffs, said sources, who asked to remain anonymous as they were not authorized to discuss the matter.
Michael Nathanson, an analyst at Sanford C. Bernstein & Co., said he expected that third-quarter revenue at Time Inc. would fall about 19 percent, to $900 million.
“For the year, we’re at about $3.7 billion, and this company had done almost $5 billion as late as 2007,” Mr. Nathanson said.
Since 2004, Time Inc. has cut about $800 million in costs, Mr. Nathanson said.
Overall, Mr. Nathanson said, he expects Time Warner to post earnings of $0.54 cents a share, well up from the $0.30 a share it posted in the third quarter of 2008.
Time Inc. has already been slashing costs over the last several years. Since 2007 it has shut down titles including Business 2.0, Cottage Living, Southern Accents and Life, which it had revived as a newspaper supplement. Last week, Fortune announced that it would no longer be biweekly, and would drop its frequency from 25 to 18 issues a year. A stricter expense-account policy has been in place for some time, and some magazines have decreased the weight of the paper they use.
snip
(Excerpt) Read more at mediadecoder.blogs.nytimes.com ...
We’re all socialists now...
http://www.minnpost.com/braublog/2009/10/29/12967/another_minnesota_newspaper_pulls_back
Another Minnesota newspaper pulls back
HELP!
I have been searching all over the internet for the song...I think it was Vanilla Fudge that did it...maybe not.
The song slows down towards the end and then the group just sings the word Time, slowly again and again. Pretty sure its a Black Band of the late 60’s.
If no one can find it...I will be up all night!!!
THE GUESS WHO - No Time
(Randy Bachman and Burton Cummings)
(No time left for you) On my way to better things
(No time left for you) I found myself some wings
(No time left for you) Distant roads are callin’ me
(No time left for you) Da-un-da-un-da-un-da-un-da
No time for a summer friend
No time for the love you send
Seasons change and so did I
You need not wonder why
You need not wonder why
There’s no time left for you
No time left for you
(No time left for you) On my way to better things
(No time left for you) I found myself some wings
(No time left for you) Distant roads are callin’ me
(No time left for you) Day-un-day-un-day-un-day-un-day
No time for a gentle rain
No time for my watch and chain
No time for revolving doors
No time for the killin’ floor
No time for the killin’ floor
There’s no time left for you
No time left for you
No time for a summer friend
No time for the love you send
Seasons change and so did I
You need not wonder why
You need not wonder why
There’s no time left for you
No time left for you
No time, no time, no time, no time
No time, no time, no time, no time
I got, got, got, got no time
I got, got, got, got no time
I got, got, got, got no time
No-no-no, no-no-no, no time
No-no-no, no-no-no, no time
I got, got, got, got no time
No-no-no, no-no-no, no-no-no,
no-no-no, no-no-no, no-no-no, no time
I got no time, got no time, got no time, got no time, got no time
Hadn’t seen an issue of Time in years until the other day and was amazed at how it had shrunk. What companies in this economy still pay for ads in these dying publications?
Fixing up all these pics and links to songs was quite a little project.
It is plain I have too much TIME on my hands...
It is staggering and liberals must be the dumbest creatures on the planet. Time needs to put Obama on their cover again. They cheered him on, lied for him, shilled for him and on and on. He wins and Atlas shurgs bigtime. I ythink tons of Americans said I don’t need this sh** and cancelled. The Internet is a killer but this is far far more. It is the content etc. Also Hussein killed the economy.
The libs did everything for Obama and put themselves out of a job. Priceless.
THANK YOU!!!
THANK YOU!
MY DOG , LOLA, THANKS YOU! Now she can go to sleep.
Thanks for the trip back to 8th grade abb! (via the Guess Who.)
150 lbs. and 10 million brain cells ago.
Sigh.
"Time Inc., the publisher of titles like Time, Fortune, and People, has already cut costs dramatically: a year ago, it announced it was dismissing 6 percent of its work force, or about 600 people."
Yes though a 'good news' - 'bad news' thing, methinks.
600's an awful lot of pathetic, imbecilic sycophants let loose upon a largely unsuspecting Republic. Most ending up in some JSchool; thus, perpetuating the death cycle.
A fittin' analogy might be one tiny drop of uber lethal poison into thousands of gallon of fresh sweet water spoils it all. Same reasoning.
"Lookie here!!! Layoffs expected at AP by end of ‘09"
Now we're TALKING!!
Yesssssssssss!!!!!!!
I submit [that] one deserves a thread all its own.
Even the most challenged understands what it implies. LOL!!
Their own poison's finally gotten around to the head of the serpent, my friend.
About damned time. ;^)
Here is a tin cup so you can walk the median at the Holland Tunnel and yell, "Spare ... Change ???" to all the workers driving into the city !!!
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