Word: riddering
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Dates: during 1990-1999
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...Milwaukee Sentinel announced a merger, destroying about 500 jobs--and creating yet another one-newspaper town. In March the Fort Worth Star-Telegram abandoned its all-day edition. In April the Houston Post walked off the field, leaving its rival, the Chronicle, with the run of the city. Knight-Ridder then announced plans to cut 250 jobs at its two Philadelphia newspapers, the Daily News and the Inquirer. In the fall, managers at the Hartford Courant, which had never laid off a worker since its founding in 1764, asked 188 staff members to take voluntary buyouts, citing financial pressure from...
...problem, though, is that for many newspaper owners--and their stockholders--12.5% margins are no longer good enough. Tony Ridder, CEO of Knight-Ridder's 17-paper empire, explains that he must answer to many masters. "I've got a number of constituencies: the customers, the communities in which we do business, and I've got the shareholders." And some shareholders remember the boom-boom 1980s, when newspaper profit margins routinely approached 20%. Cold reality hit along with the recession in the early 1990s: retailing, then retail advertising, then newspapers dependent on such advertising suffered, and profits fell. Ridder insists...
...weeks ago, 34 historians sent a public letter to Joan Ridder Challinor, chair of the Schlesinger Library on the History of Women and member of the board of directors of Knight Ridder, urging her to help settle the strike...
...Challinor] to challenge the reigning orthodoxies of corporate America," the letter stated, "and persuade her peers at Knight-Ridder to equitably and expeditiously settle its dispute with the striking workers...
...colleagues, urge Dr. Challinor to exhibit the same human impulse as a member of the board of Knight Ridder that she does at the Schlesinger Library," the letter concluded...