Here’s another take on the Star’s current ship of state, layoffs, buyouts and dial backs from one of the most successful journalists in the history of the Kansas City Star:
Mark Zieman & The Watson’s Girl
“All those names headed out the door, they must be thinking this might be the last decent buyout offer – although I don’t know what the offer is – maybe they assume the next one will be less. What stands out most to me is Steve Paul — he is the head of the editorial page, right? Maybe he is feeling his age; he must be 65 or more.
“I looked at the McClatchy quarterly and annual numbers to see if they really lost $245 million like the (Pitch) article said, and it turns out that the company took $304 million in paper losses to write down the value of assets. So that is not real money, but instead a reflection of the declining value of the business (which, I assume, is already reflected in the miserable stock price).
“So McClatchy, for all of the bad news, is still generating positive cash flow and that at least is good. One other thing I saw was that the quarterly statement said the company has contributed certain properties to the pension plan to reduce the underfunding. They don’t say what properties were contributed and I don’t know much about the pension world. But that does not sound good to me (as a McClatchy pensioner, for crying out loud!). Anyway, it might be time for all us McClatchy pensioners to start assuming that the spigot could get shut off.
“I think the pension amounts we get paid are fixed. The base part – called the qualified plan – should be protected by the federal pension guarantee insurance, hopefully. There is a second part, called the non-qualified plan, that has no backup. At certain salary levels you get the second part too. That’s the part I am more worried about. I wish I could believe they have a real strategy. Their website is so unappealing to me with all the ads popping constantly. Hard to believe people actually go there intentionally.
As for the finished product, “I don’t see how they put out the paper at all, with so few people. But, then, I don’t read it and maybe the contents would explain what you get when everybody’s gone.”
None of which explains why somewhat obvious moves have not been made to bolster the Star’s editorial content and attract younger readers. Like no goings on around town column similar to mine, no engaging, edgy metro columnists like former columnist turned editor and publisher Art Brisbane or even Mike Hendricks.
“All I can think is that the industry is now borderline senile and has no creative juice left. It can’t help that no body in his right mind would want to enter the field now.”
Oooh, the Watson’s girl. Someday Hearne, someday. Unfortunately, you’re a lot older than her, so you’ll probably go first.
The Watson’s girl? Is it still 2oo2? Can you tell me how Quin Snyder’s recruiting is going at Mizzou, too? How is mayor Barnes doing?
It appears that our national forests are now safe. From the Star, to the New York Times, circulation has turned green, with no hope of revenue. Paper adds no longer work. I have never been a fan of McClatchy, whether it was bias or just a waste of money and time. I take a local rag, a family owned paper, which was recently acquired by a publisher from Arkansas, and what used to be 12 pages is now down to 6, and, even here, the staff, like rats, appear to be jumping ship. The advertising lady recently obtained her real estate license. I also take the Wall Street Journal, hard copy and on line copy. For me, it’s survival. The public may mourn the loss.of the Star, when it goes, for more than one reason, but the first law of business, making a profit, is very unforgiving. Only government can lose money on a long term basis, and newspapers are not government, no matter how much money will be lost in the TIFF. There are certain laws of Economics that are inviolable. About the Pension Guarantee and Benefit, you best pray to Congress on that matter. Although guaranteed by law, the fund is basically insolvent, dependent on Congress for its regular shot of funding. Great article.
Any chance they could repurpose the building at 18th and Grand?
Let seal it up to make it water tight and house endangered marine life in there.
Seems appropriate.
Hearne, don’t let the haters deter you from running that pic of the Watson’s girl. For whatever faults she may have she has an A-1 rack.
AND a purdy mouth.
Christopher,
Would love to talk with you.
Kevin Helliker
Wall Street Journal (formerly, long ago, of KC Times)
212 416 2958
kevin.helliker@wsj.com
The Watson’s Girl has a name, people. OK?! It’s Jennifer. And yes, she does have great camel sacks.
Her name is Watson’s Girl.
Her name was Watson’s Girl.
as a valued commentator and reader of kcc I would love to get glaza’s take on the
“rack” of the Watson’s girl.
Seems as if they’ve reduced in size since her award winning tv stint.
What say you old wise man Glaza.
Should be fun.
If she had your brains for boobs, we could shoot pool, play cards, bowl and ice skate in the winter on her chest.
True, but I have to give Harley credit, his brain pan was the inspiration for the Half Pipe I built at my mansion, where I learned to perfect the Haakon Flip. Plenty of space, nothing in the way, just a big, vacant, empty space.
In fact, I did forget to mention, that the “Half Pipe” is named after Harley, the “Half Wit”.
Thanks Harley, you’re the best!
And my gurl Hoopz be still kickin’ it like it ain’t a thang…