Showing posts with label Sam Zell. Show all posts
Showing posts with label Sam Zell. Show all posts

Tuesday, July 1, 2008

Fast-lane Spector riles Tribune reporters


Penny-pinching at the ChiTrib is getting downright miserly, acc to recent reports in the rival Sun-Times, which detail how the beancounters want to save half a million bucks on office supplies:

For some employees at the Chicago Tribune, a memo Monday was the last straw. Make that the last Post-it note, pen and notebook.

The paper's corporate owner, Tribune Co., is trying to save $500,000 a year on office supplies. Gerald Spector, the company's chief administration officer, issued a memo asking workers to reduce their supply purchases and to economize on travel.

Spector told employees Tribune needs to cut its $3.5 million annual shopping bill at OfficeMax. But some workers said Spector might not have been the best guy to deliver a message about penny-pinching.

Around Tribune Tower, Spector, 61, is known for cruising into the executive parking lot with a 2007 Lamborghini Gallardo Spyder, worth about $235,000, according to car valuation references. Records also show Spector has owned a 2001 Ferrari 360 Spider, worth about $172,000, and a 2004 Mercedes-Benz SL600, which cost $126,000 new but now commands a modest $59,000.

The three cars are worth about what Spector hopes to achieve in corporate savings, which perhaps was on his mind when he wrote, "As you can see with office supplies, small amounts quickly add up and make a difference."

Spector did not return a call Monday, and a Tribune spokeswoman declined to comment.

It's the latest sign of cutbacks and culture shock at Tribune, which is groaning under $13 billion in debt. Real estate titan Sam Zell used the debt to finance a company buyout last year that made him chairman.

He has since brought in longtime associates to shake up a media company Zell has described as bloated and bureaucratic. The new bosses have ordered layoffs at other company newspapers and are expected to do so this summer at the Chicago Tribune.

Sunday, January 20, 2008

Zell axes LA Times editor O'Shea

The Los Angeles Times has fired its editor in a dispute over budget cuts, just one month after the sale of the newspaper's parent company. According to the the Associated Press, the Times fired its top editor after he rejected a management order to cut $4 million from the newsroom budget, 14 months after his predecessor was also ousted in a budget dispute, the newspaper said Sunday.

James O'Shea was fired following a confrontation with Publisher David D. Hiller, the Times reported on its Web site. The story didn't say when the confrontation took place.

Times spokeswoman Nancy Sullivan said the newspaper would have no comment.

O'Shea's departure comes just a month after the Times' parent, Chicago-based Tribune Co., was taken private in an $8.2 billion buyout by real estate magnate Sam Zell.

The departure also follows that of his predecessor, Dean Baquet, who was forced to resign after he opposed further cuts to the newsroom budget in 2006.

O'Shea, then the Chicago Tribune's managing editor, was brought in to replace him.

At the time, he asked the news staff not to see him as "the hatchet man from Chicago" and promised to fight to ensure the Times would "remain a major force in American journalism."

"If I think there is too much staff I will say so," O'Shea told the paper's editors and reporters in 2006. "And if I think there is not enough I will say that, too."

O'Shea is the third Times editor to leave the newspaper since 2005, all of them departing in disputes with management over how much to cut the news budget.

When Editor John Carroll left in 2005 he was replaced by Baquet, who was then the Times managing editor. Hiller, former publisher of the Tribune who had worked with O'Shea in Chicago, then brought him out to replace Baquet.

Hiller had joined the Times in 2006 after former Publisher Jeffrey M. Johnson was ousted for refusing to carry out budget cuts ordered by corporate headquarters in Chicago.

A month later, Hiller dismissed Baquet and brought in O'Shea to replace him.

Before coming to the Times, O'Shea had been managing editor of the Tribune since February 2001 and had worked at the newspaper in various capacities since 1979.

Before joining the Tribune he had been a reporter, editor and Washington correspondent for the Des Moines Register.

The Times is just one of many newspapers plagued by circulation and revenue losses to new media.

Last April, the Times announced it was cutting up to 150 jobs, including 70 newsroom positions, as a result of declining revenue. Times officials said at the time they hoped to accomplish most of those cuts through voluntary employee buyouts.

When he took over Tribune, Zell said he hoped to find ways to increase the company's revenue, calling continued budget cuts a "dead end." At the same time, he said he was giving greater authority to regional executives to manage the company's assets in ways they saw best.

Thursday, January 17, 2008

Sam Zwell's Quirky Handbook for Hacks



Some highlights of the company rules in the new Tribune employee handbook, released to his 20,000 Tribune employess by mogul Sam Zell:

"Rule #1: Use your best judgment.

"Rule #2: See Rule 1.

"That's it. That is the one hard and fast rule. Unless a serious mistake was made when you were hired, you have pretty good judgment."

From Tribune Company Core Values section:

"4. COMPETE. Play to win. Market shares add to 100%. We can't grow our share of revenue or audience unless someone else's goes down.

"5. PLAY FAIR. But remember that there is nothing unfair about taking advantage of a competitor's weakness. It's not unfair to scoop a competitor on a big story or closet them on a key account. Not playing to win is unfair to your teammates and to all of the company's stakeholders."

From the Employee Manual section:

"2.5. Discrimination based on gender, age, race, religion, national origin, marital status, sexual orientation, disability, or any other characteristic not related to performance, ability or attitude, protected by federal or state law, or not protected (such as inability to tell a joke, the occasional poor wardrobe choice or bad hair day), is strictly prohibited."

"4.1. Working at Tribune means accepting a creative, quirky, intelligent, odd, humorous, diverse, opinionated and sometimes annoying atmosphere.

"4.2. Working at Tribune means accepting that sometimes you might hear a word that you, personally, might not use. You might experience an attitude that you don't share. You might hear a joke that you might not consider funny. That is because a loose, fun, nonlinear atmosphere is important to the creative process.

"4.3. This should be understood, should not be a surprise and is not considered harassment."

"4.5. Making the building too hot, banging on trash can lids or loud bagpipe music are annoyances you can complain about, but this policy is about harassment on the basis of protected characteristics. It's really bad judgment to intimidate, persistently annoy, inappropriately touch, treat people differently because of their protected characteristics, or otherwise make members of our team uncomfortable, no matter how you do it."

"5.1. Under Rule #1, you may want to think twice before you enter into an intimate relationship with a co-worker. When you start, it might seem like a good idea. It's when you stop, or the wrong people find out (and they will) that you could discover that perhaps it wasn't."

"7.1. If you use or abuse alcohol or drugs and fail to perform the duties required by your job acceptably, you are likely to be terminated. See Rule 1. Coming to work drunk is bad judgment."

"18.1.1. Under normal circumstances, Tribune will not snoop in your e-mail or track your internet usage.

"18.1.2. Remember that cyber-slacking is not good judgment."

"18.2.2. It is expected that you will not share anything of a proprietary nature with anyone outside the company."