Word: willese
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As a cost-cutting executive at general Mills, Mark Willes helped put the maker of Wheaties, Trix and Lucky Charms on a strict diet and fatten the company's bottom line. These days, as chief of the Times Mirror Co., Willes is crunching more than Cheerios--he has set out...
Alarmists in the newsroom feared that Willes, an economist by training, might appoint himself editor. Instead he anointed the respected (and reassuringly rumpled) Michael Parks, the paper's 53-year-old managing editor (and a Pulitzer-prizewinning foreign correspondent). Coffey tried to put on a good face, saying he needed...
At the Los Angeles Times, employees entering the building are greeted by an LED display of parent company Times Mirror's stock price--an irksome reminder that their CEO, Mark H. Willes, is wielding one of the sharpest axes in the industry. In 1995, his first year on the job...
"I just hope that, in these cost-cutting spasms that the stockholders think are important, they put some pressure on Mark Willes not to degrade quality," comments Bryce Nelson, interim chairman of the University of Southern California school of journalism and a former L.A. Times reporter. At New York Newsday...
Wall Street does appear pleased. Times Mirror stock has risen more than 20% since the first layoffs were announced, and more than 50% since Willes was named ceo. "Ultimately, the business of journalism is still a business," notes Doug Arthur, a publishing analyst at Morgan Stanley. "Companies exist to make...