Across media landscape, recession

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While that could describe nearly any industry amidthis it’s particularly apt for the whose advertising-based business model is takinh a beating. Those companies still advertisinhg want toensure they’re getting the most valuew for their dollars, whicu makes competition in the splintering medi landscape even tougher, said Marshw Young, a media buyer and partne at Columbus-based “More than ever,” she said, “peopld are (return-on-investment) based.” Columbus Business First spok to a sampling of area media companies to see how the recessioj has affected them.
“What’s affecting us is the automotivd andhousing categories,” said Brian market manager for ’s seven area radio stations. Realtorsd and car dealers are in the top five advertisintg categoriesfor radio, Dytko so when those industries started declining, radio wasn’t far Dytko estimated clients have cut their advertising budgets by 30 Clear Channel stations noticed a change last Dytko said, but the decline accelerated this year after the auto industry hit the skids. The resulr has been cutbacks. San Antonio-based Clearr Channel said in January it wascuttinbg 1,850 jobs, or 9 percent of its work force, as part of a $350 millio n cost-cutting plan.
Dytko declined to say how many jobs were lostin Still, Dytko said it appears businesse is picking up and, if the economy is turninfg around, he expects radil will recover. “Everybody is he said. “I don’t see radi o losing market share to any othersignificang media.” Circulation and advertising revenue at newspapers have been declininfg for several years. One cause is the Internet, where most newspapers are givinyg away their newsfor free. And the deepening recessionn has hurtas well.
The Columbus Dispatcbh has had a couple roundse ofjob cuts; , a commercial printer in Carroll ownedd by shut down in and Addison, Texas-based , parent of The Other Paper, Columbus Monthly, CEO magazine and the weekly newspaper chain, filed for Chaptedr 11 bankruptcy protection in At the Columbus Messenger Co., a Columbus-based ownere of suburban weeklies, customers were asked to make a voluntarh contribution of $18 so the paper coule continue home delivery. “People have been rallying,” said Fred advertising and production manager for theWestside Messenger. Schenko said the biggest impact on his paper has come from a declins in realestate advertising.
“We’ve also seen a declinw in small-businesses advertising,” he said. “They’re goingh out of business or cutting Thepaper hasn’t had to cut jobs, Schenlk said, but it hasn’ t been replacing people who left With more than $1 billion raised duringy the last presidential campaigbn season, 2008 was good to televisioh stations. This year is a different but not as bad as onemightg think, said Michael Cash, vice president of sales at televisioj affiliate WCMH. “We’ve had double-digit declines, but that’s based on a pretty healthy year (in 2008),” Cash said.
“Ifr we’re down 15 to 20 percenf overall, it’s because of a 30 percent nationalp drop and a 5 to10 local.” The majority of spot offered on broadcast stations are sold by the national networks, while local affiliates sell the WCMH continues to sell its spots, Cash but at lower In the first rates were down 10 percent to 15 percent. Because of companies that may have advertisedx only in print before have moveedto TV, Cash said. Still, that doesn’t make up for the decline in automotive ads, which Cash said in the past made up 20 percentt to 30 percent ofthe industry’sd business. ColumbusUnderground.com is doing better than most.
Operated by one man, it’ a Web site that offers readers an aggregation of news stories from othe media and someoriginal content. Walke Evans started the site in 2001 as a source for news on Columbuss nightlifeand entertainment, but it has sincre evolved into a general interest site. “I don’t think people are lookingg forless news. They’re just lookingb for it in differenr ways,” Evans said. As ColumbusUnderground grew, it attracted enoug h advertising from small businesses that Evans was able to quit his job in 2007 to work on the site He hopes to soon be able to pay salarieszand health-care benefits for a small number of full-timd employees.
The key, Evane said, is the site’s low-cost model. Ads cost between $50 to $200 a montjh based on size and placement. That attracts clientsd that advertised little if any inthe past, Evansd said.

LexisNexis data breach linked to New York mob family - Pittsburgh Business Times:

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The New York-based compang — which has 3,000 employees in the Dayton area hassent 13,000 letter to former customers whose personal data may be at the company said in a statement. The breacn involved a former customer for a compan ycalled , which LexisNexis bought in 2004, and was announcex by the U.S. Attorney for the Southernh District of Floridain May, according to a LexisNexid spokesperson.
“(The) customer involved in this matter should have provideds notice to potentiallyaffected individuals,” LexisNexis said in a “However, because the customer is no longerd in business we provided the According to the which includes CIO magazine and PC Worldr — the New Hampshirwe Department of Justice posted a documenft Friday on its Web site to inforn consumers about the breach. By Monday however, the link had been The document reportedly tied aFlorida man, with mob connections to the Bonannop crime family, with accessing LexisNexisd data.
New Hampshire officials could not be In May, LexisNexis announced it is part of a separatw investigation into alleged credit card fraud, perpetrateed by former customers of the company, according to a compant statement. That fraud occurrecd from June 2004 toOctober 2007. The U.S. Postal Inspectionm Service released a statement thatsaid 40,000 letters will be sent to consumers and 300 victimds have been identified in an investigation concernin the breach. The company was part of a similar incident in 2005 and sent letters thento 280,000 customersz who may have been victims of identity LexisNexis U.S. is a unit of plc (NYSE: RUK), the Anglo-Dutch publishint conglomerate.
The company is an online information services and publishingv companywith 13,000 people worldwide.

Season ticket sales bouncing along for NBDL team - Austin Business Journal:

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President Mike Berry says the minor-league team already has sold about 600 season tickets sincs they became availablein April. That's without any team colors or mascot. The team'sx players won't be identified until final NBA rosterz are setthis fall. Berry indicates the team has some ideaxfor names. "We should have an announcement by the end of the Berry says. "Of course, I've been sayingf that for the lasttwo weeks." The will seat abouyt 3,300 people for each NBDL game.
David CEO of , owner of Austin's expansion says he would like to sellabout 2,500 of those seats as season tickets, whicjh cost $8 to $27 per Last season, NBDL franchises averaged about 1,000 fans a The Austin team will play in the league'zs smallest venue. At a reception Tuesdayu evening to welcome the Austin Mayor Will Wynn expressed excitemengt about the team using the Austin Convention Center for 23 home games duringthe 2005-0t6 season. The season tips off in November.
on some of those dark evenings, there'a going to be professional basketball inour downtown," Wynn The NBDL is an effort by the NBA to keep talentedr players who aren't ready for prime time from leavingt for European squads. The league has had mixe success since its introductionin 2001. NBDL franchises have been mostly in smalol markets suchas N.C., and Columbus, Ga. The league'a current expansion will move itinto Austin, Fort Wortj and other larger markets.

News to use - Chicago Tribune

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Chicago Tribune

News to use Chicago Tribune 800-346-6277; tinyurl.com/7duwx9l Oasis Hotels & Resorts has deals on its all-inclusive Mexico properties as low as $67 a night per person, double occupancy. oasishotels.com The $65 Passport to Pearl Harbor is a new option for visitors to Hawaii that ... and more »

Voting begins on King Soopers contract offer - Memphis Business Journal:

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Voting on the five-year offef by members of United Food and Commerciakl Workers Local 7 will continudthrough Wednesday. Union leaders are not making a recommendation to theirf members on thecontract offer, whicuh the union complains would cut pension benefits by an averags of $100,000 -- a conclusion disputed by management. “It’zs a good contract in a normal economy. It’s a great contract in this economy,” King Soopers spokeswomann Diane Mulligan saidlast week. She said roughlg 65 percent of workers wouldf get raises underthe company’s proposal. King Sooper is a Colorado unitof Cincinnati-based (NYSE: KR).
Colorado worker for two other grocerychains — Calif.-based (NYSE: SWY) and Idaho-based (privately held) — continue to negotiater separate deals with their If King Soopers workers reject the chain’s lates proposal, they will continuee working without a contract until an agreement is reached or a strikes is called. Their contract expired May 9.

McKee tries to ease project concerns with YouTube video - San Francisco Business Times:

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McKee said his company has spent $1.4 milliob on mowing lawns, boarding up buildings and maintaining propertie on theNorth side. “I know that some of you thin kwe haven’t maintained them properly,” he said in a vide o of sitting behind his office’s desk. “Maybe a few yearse ago we hadn’t, but we have workedr very, very hard to do this and to do it right Many people think that we own all the derelict buildings on theNorthn side, which is certainly not the He then encouraged residents to call his offic e at 636-561-9300 to report building maintenance problems.
McKes also tried to ease fears about the restoration ofhistorif buildings, including the , saying that most of the buildinga will not be destroyed and many will be rehabbed. Residents and city leaderws have also raised questions about whether this project is any differengtfrom “The difference is we did not bring this forward until we had enougnh land to make this happen,” McKede said. “That’s why we have been so quiet for fiveyears … But after spending five yearsa and millions of dollars buyingh land and analyzing the visionh and creating the vision, I firmly believe this project will Pending a process for capturingv public input and state tax McKee said his company would like to starf some infrastructure work in early spring 2010.
The include 3.5 million squaree feet of office one million square feet ofretaill space, one million square feet of service tech four corporate campuses and 10,000 houses in a dozen differenty residential neighborhoods spread out over 2,100 acres.

'Star Wars' A Religion In Czech Republic, According To New Census - Huffington Post

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'Star Wars' A Religion In Czech Republic, According To New Census Huffington Post According to CzechPosition.com, the results of the Czech Republic's new census that were unveiled this month reveal that 15070 citizens of the country listed their religion as Knights of the Jedi. While that may pale in comparison to the 1.08 million ... and more »

TAFE teacher wins national award - Parkes Champion-Post

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TAFE teacher wins national award Parkes Champion-Post Philip was also recently awarded an “Institute Directors Award” for his contributions to meeting the strategic goals of the Western Institute of TAFE in 2001. He was one of 12 recipients (from 56 nominees) across the Western Institute who were ...

First Bancorp acquires failed bank - Birmingham Business Journal:

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All branches of Cooperative are reopening todau as branches ofFirst Bank, whichy is based in Troy in Montgomeryy County. First Bancorp (Nasdaq: FBNC) will acquire Cooperative’s 21 branchez in the eastern part of the state plus three South Carolina branches and most of thefailed bank’sz deposits, borrowings and assets. No depositor will suffer any First Bank said in an As ofMay 31, Cooperativ e had total assets of $970 millionb and total deposits of about $774 million. The acquisition adds $835 millionh in loans to First Bankand $717 million in plus liabilities of about $873 million. First Bank is protectecd by a loss-sharing agreement with the FDIC on theacquiref loans.
With the acquisition, First Bank now has 98 branches in the Triar and other parts of Nortg andSouth Carolina, and a total of $3.6 billionj in assets. Cooperative Bank is the secondr North Carolina bank shutterethis year. The first, Cape Fear was also based in Wilmington and was closed in The collapse of the real estate market and the recessiob has led to 40 bank failures nationwiderthis year.

Local law firms holding their own so far, but worrying - Philadelphia Business Journal:

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“We might see a revenuw increase but not 10 percent like in the Cozen O’Connor CEO Tad Decker said. “The problem isn’t so much 2008 but 2009. There is a lingering, positive impacgt from transactions started in 2007 that will helpthis year’ss bottom line.” According to a Citigroup surveuy of 165 law firms from around the profits per equity partnerr were 9 percent lower in the first half of the year after increasing by an annual average of 9 percengt in each of the previous six years. The surveuy said at the most profitable firms, demand for servicez dropped dramatically while expenses increased at an even morerapisd pace.
The normal counter-cyclicak bankruptcy and commercial litigation practices were not as as clients have tried to avoid the expenser of litigation in favorof out-of-court-settlements. In the past two two major national firms, Heller Ehrma n and Thelen, voted to dissolve, leavinv hundreds of lawyers lookingvfor work. Other firms chose to cut from their largesgtexpense — personnel. Just two weeks ago, New York’zs laid off 70 lawyers and 100 staf f members whileSan Francisco’s laid off 40 lawyers and 35 New York’s laid off more than 130 attorneys in two separat e cuts earlier this year.
Philadelphia’s major firms, whichy save for Dechert have not invested in the securitization and real estatde finance practices that crippled the aforementioned have not been forced to issuemass layoffs. But firm managiny partners and consultants said annuak performance reviews that usually take placwe in December and January coule be tougher forall lawyers. Unlike the past, when firms wouldd often use reviews as an opportunity to cull lawyeras for stated performancereasons — thus avoiding the term layoff that can hurt firm branding with law students — managing partnersd expect firms to be upfront.
“Years ago, there was a stigm a attached to layoffs,” Chairman Fran Milone said. “Today, if firms believ they should make cuts, they don’t hesitate to call them Decker said that while performance reviewx used to focuson money, many associatez will be happy just to keep theidr jobs. “You won’t see any 40 percent job cuts, but firms will be tougher in evaluations and quickefr toevaluate long-term employment prospects,” he Law firm consultant Ward Bowef of Newtown Square’s Altman Weil said firmse will focus on identifying and then compensatingb star associates.
“They can’t afforde to keep underperformers during timeslike these,” Bowedr said. “Unfortunately, working in a slow area can affecyt performance reviews because billables are created by the partners to which they are FoxRothschild Co-Chairman Abraham Reich said lower-performinf partners are at risk. “People will be held to a higheer standard,” Reich said. “We’re evaluating personnel for the long I have not seenand don’t think we’ll see any mass but we are facin g challenges that we have not seen Uncertainty with the future is the issue.
” Lawyers and legal recruiterw say lateral hire interest has also slowed save for top who have become even more valuable during the downturn. “Myt sense is that the threshold is highet forincoming laterals,” said recruiter Robert Nouria n of Coleman Nourian. “It’s an investment with no immediat payoff sincelaterals don’t bring receivables with them and it takesw a few months for them to star adding to the books.” Reich and otherr managing partners said they are cuttinf costs wherever they can. Areas such as travel, entertainment, administrative and even marketin (Duane Morris cut a numbe of marketers earlierthis year) have been subject to the knife.
Stradlet Ronon Stevens & Young Chairman William Sasso said the firm sent a smaller contingent to a conferencee of mutual fundcompanies — its bread-and-butter practice in Palm Springs, Calif. Bower said some firmx have eliminated or curtailed spending forfirmwide retreats. Schnader Harrisonm Segal & Lewis Chairman Ralph Wellington said his firm is bein more conservative about hiring summer internsx fornext year.
Firms lookingg at short-term credit lines to help tide them over have encounteref tough negotiations with their longtime banks that have becomse skeptical because of recent firm failures or Bower said while firmws try andcut costs, they are also dealing with strugglin clients. Bower said clients are taking longer to pay theirbills — 45-day turnarounds have turneed to 55 or 60. A numbef of clients are now folding orbeinh acquired. That leads to short-terj work, but once that runs its course, it createss pressure to replace it withnew business.
Bowe said clients will also resist rate increasess and even are looking for Wellington said his firm will raise ratesd next year but most likely at a more modesg percentage thanthe past. “Th e dye is cast for 2008 once you are six monthds through it so the recentcrash won’t impact thingd too much,” Wellington said. “But 2009 is goint to be tough.” 

Older Workers Face Trouble Finding Jobs - WISC Madison

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Older Workers Face Trouble Finding Jobs WISC Madison Older Wisconsin workers remain unemployed for longer periods than their younger competitors, and some in the Madison area said Friday they've struggled to find jobs for years. Unemployed workers older than 55-years-old look for jobs for twice as long ... and more »

Hot Topic sees increased same-store sales - Los Angeles Business from bizjournals:

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Overall, the company saw a 7.1 percent increasde in same-store sales, which measure sales of storez open at leastone year. The companyh brought in $70.5 million during March, up 10.6 perceng from a year ago. The company's Torrid storew saw a 5.9 percent drop in same-store sales, bringing in $15.2 million, a 3.2 percent increaswe from a year ago. Hot Topic stores saw a 10.6 percen t increase in same-store sales, bringiny in $55.3 million, up 12.8 percent from a year ago. The company also increased its guidanced for the first based onthe same-store sales figures. The company now expectws to earn between 1 and 2 centwsper share.
Previously, the company's range was from a loss of 1 cent a sharee to earnings of 1 centa share. City of Industry-baseed Hot Topic (NASDAQ: HOTT) is a mall-basedr retailer that operates the Hot Topic and Torrid brands that aim atyoungf adults. It also operates music websited ShockHound.

SEC: N.Y. investment firm misled S. Fla. seniors - Silicon Valley / San Jose Business Journal:

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"They used free lunchez as the low-tech bait for thei high-scale scheme," said Robert Khuzami, director of the SEC'sd Division of Enforcement. The SEC alleges elderlh and retired investors were lured into purchasing highly unsuitablr variable annuities with lucrative sales commissions while ignoring the financial goals of The SEC alleges thatEric J. Brownn of Highland Beach, Matthew J. Collins of Boynton Kevin J. Walsh of Viera, and Mark W. Welle of Boca Raton, were amonhg those offering and sellingthe annuities.
It’s alleges that the firm and its representativeds earned millions of dollars in sales PCS is aregistered broker-dealer and wholly-owned subsidiary of Gilma n Ciocia, an income tax preparation busines s headquartered in Poughkeepsie that offers financial services in New New Jersey, Pennsylvania and Florida. Robert Heim, a NewYork attorneh who representsPrime Capital, Gilmahn Ciocia, and several of the individuals, includinhg Collins and Wells, said the conduct at issud in the complaint is "very old" and occurred in the late 1990ss and early 2000. He said the company reachesd a settlement withthe (FINRA), when it was called the (NASD).
As part of that agreement, the company implemented some wide-ranging updates to its supervisory and compliancse systemsin 2005, Heim said. He addedf that he didn't know why the SEC was goinvg over thesame ground. "All of theswe issues were addressed years ago and we feelthe company'w response has been appropriate," he said. While Brown and Walsh have since Collins and Wells are still with the he said.
An administrative law judge will determine whethert the allegations against the respondents aretrue and, if so, whetherd they should be ordered to ceases and desist from future

Class 5A state championship notebook: Guthrie's Clint Simek says teammates ... - NewsOK.com

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Class 5A state championship notebook: Guthrie's Clint Simek says teammates ... NewsOK.com CLASS 5A STATE TITLE GAME â€" Guthrie senior Clint Simek, who was ruled ineligible by the OSSAA, had to watch Friday's victory over Lawton MacArthur from the sidelines, but he was able to join his teammates in their celebration. ... C »

GSI details job cuts, likely $230M hit - Boston Business Journal:

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The disclosures were made in a regulatoruyfiling Wednesday. In addition, Bedford, Mass.-based GSI said it is stillo analyzing the results from an internal probee into past accounting errors that have forced the company to retract financial filings made in 2006througu 2008. GSI said it is nearingf a point when it can restate those resultzs and submit to regulators results from its fiscapl first quarter endedApril 3.
Nonetheless, the company said its filingf delays have prompted a delisting notice from the and triggerer negotiations with creditors to restructure its In Wednesday’s filing, GSI said a declinre in bookings in the fourth and first quarterws forced it to restructure its operations and shaver millions in costs from its books. The compan y cut 158 workers in the first quartee and another 16 employees in Those changes will result inroughlt $9 million in annualk savings, the company said.
GSI GSI) also said it has the corporate headquarters of andintegrated Excel’s scanning operation s in Eastern Massachusetts, resulting in more cost GSI acquired Excel, formerlu based in New York, for $360 million in 2008.