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Getbig Main Boards => Gossip & Opinions => Topic started by: IndustryInsider on January 14, 2011, 12:21:39 PM
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Is a Revolt Brewing at AMI?
American Media Inc., publisher of the National Enquirer and Star, is freshly emerged from bankruptcy, and already cutting costs with layoffs and mandatory unpaid furloughs. Now, we hear AMI's beleaguered employees are on the verge of total revolt.
Since emerging from bankruptcy at the end of last month, AMI has announced that it's merging the LA newsrooms of Star and the Enquirer (and cutting jobs in the process), and that all employees "must take a three-day unpaid furlough before the end of the current fiscal quarter on March 31."
(http://cache.gawker.com/assets/images/gawker/2011/01/peckerbig.jpg)
Those things were bad enough—especially after CEO David Pecker (pictured, with Playboy bunny) reassured employees of the company's strong financial health as soon as it came out of bankruptcy. But now, word is circulating among AMI employees that Pecker and a handful of other executives stand to receive hefty bonuses for their work on the bankruptcy. "The anger among the employees is widespread and morale is shot," an insider tells us. It's so bad that there have already been discussions of legal action by the employees, and/ or a "job action" from the rank and file. The immediate goal: to get rid of Pecker.
"Everybody believes the company would be better off without David Pecker," says an insider. "His mismanagement, dishonesty and incompetence drove the company into bankruptcy. And now he and other executives are getting even more rich on the backs of good people who have worked very hard over the years for AMI. The stakeholders and employees would benefit greatly from new leadership and we are hoping the company's board of directors takes action soon."
Employees at AMI are worried that more layoffs are looming. But they don't seem ready to fade away quietly.
http://gawker.com/5732783/is-a-revolt-brewing-at-ami
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A true insider...cutting and pasting articles from another person's site.
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whats wrong with that... just spreading the word and giving recognition where its due..
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As inside as a canoe on the lake
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As inside as a canoe on the lake
lol
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Is David Pecker the guy who has a freckle on his smeckle?
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(http://www.americandiscounttowing.com/image/4383019.jpeg)
http://www.aaa.com/
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Isn't Pecker a pillow biter? Looks like a member (or Captain) of the all male, naked leap frog team.
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Isn't Pecker a pillow biter? Looks like a member (or Captain) of the all male, naked leap frog team.
He is a man of many talents, yes...
"1"
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lol
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Is a Revolt Brewing at AMI?
Is a Revolt Brewing at AMI?Is a Revolt Brewing at AMI?American Media Inc., publisher of the National Enquirer and Star, is freshly emerged from bankruptcy, and already cutting costs with layoffs and mandatory unpaid furloughs. Now, we hear AMI's beleaguered employees are on the verge of total revolt.
Since emerging from bankruptcy at the end of last month, AMI has announced that it's merging the LA newsrooms of Star and the Enquirer (and cutting jobs in the process), and that all employees "must take a three-day unpaid furlough before the end of the current fiscal quarter on March 31."
Those things were bad enough—especially after CEO David Pecker (pictured, with Playboy bunny) reassured employees of the company's strong financial health as soon as it came out of bankruptcy. But now, word is circulating among AMI employees that Pecker and a handful of other executives stand to receive hefty bonuses for their work on the bankruptcy. "The anger among the employees is widespread and morale is shot," an insider tells us. It's so bad that there have already been discussions of legal action by the employees, and/ or a "job action" from the rank and file. The immediate goal: to get rid of Pecker.
"Everybody believes the company would be better off without David Pecker," says an insider. "His mismanagement, dishonesty and incompetence drove the company into bankruptcy. And now he and other executives are getting even more rich on the backs of good people who have worked very hard over the years for AMI. The stakeholders and employees would benefit greatly from new leadership and we are hoping the company's board of directors takes action soon."
Employees at AMI are worried that more layoffs are looming. But they don't seem ready to fade away quietly.
http://gawker.com/5732783/is-a-revolt-brewing-at-ami
This has nothing to do with Pecker's incompetence. Welcome to the internet era! They should have gotten the memo 10 to 15 years ago. No one reads magazines and newspapers anymore except for a few purists who appreciate reading news anywhere without having to have a computer. Most publishing houses and newspapers have brankrupted over the last decade. Hell, even the New York Times, the U.S' most prestigious newspaper is broke and was bought for a few millions of Dollars by a Mexican billionaire.
SUCKMYMUSCLE
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As inside as a canoe on the lake
;D ;D ;D
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Times are tough out there for all magazines and trying to save costs in important to survive. However, there is NO reason for anyone there to get ANY type of bonus, especially the upper management, which must show the rank and files that they too are working hard.
AMi has some incredibly hard working people, who put a lot of time into making the magazines great (talking about Flex and M&F Hers), which are doing well, and because of these high interest payments od debt, everyone is hurting.
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The employees are just jealous he's
bhanging with PLAYBOY bunnies and they aren't.
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His lastname has gotten him probably a long way with the ladies over the years a successive marketing tool.
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Isn't this the guy who's been predicted the demise of AMI for 7-8 years now?
Does he not understand how huge money protects huge money?