Archive for the 'Share Price' Category


Sub Editors Jobs To Go

It seems the owners of the Shields Gazette,  Johnston Press are continuing to push through thier controversial centralisation agenda in an effort to drive down costs and reduce the number of staff employed on individual titles.

This time Johnston Press is targeting sub-editing and picture desk management at its North West titles – with the potential loss of 12 jobs.

The North West is the third area, after the Midlands and Northern Ireland, where Johnston Press has announced centralisation. Staff were told last Thursday, and meetings were ongoing on Friday. The plans – subject to consultation – would see sub-editing at Chorley, Garstang, Burnley and Wigan moving to Preston, home of the Lancashire Evening Post, with the loss of four jobs.

Sub-editing in Lancaster and Morecambe would move to Blackpool, with six jobs lost but three created, giving a net loss of three.

Five picture desk editors from the region would have to apply for two jobs in Preston, and two photographer roles would also go, bringing the total job losses to 12. Titles affected would include the Burnley Express, the Chorley Guardian, and Morecambe’s The Visitor.

Johnston Press has recently announced centralisation in the Midlands, with 49 potential job losses, and Northern Ireland, with 11 job losses. In the Midlands, the National Union of Journalists is proposing an alternative restructuring. In Northern Ireland, staff at the Derry Journal have balloted for strike action.

When the centralising plans were announced, Johnston Press’s chief operating officer Danny Cammiade said, “Johnston Press is a newspaper group that bases itself on its localness.”

Unfortunately this will come as no comfort to the sub editors at the Gazette who are likely to lose their jobs when the centralisation programme reaches the North East later this year and perhaps now’s the time to look elsewhere.

Mr Monkey has heard that STCentral TV, South Tyneside’s rapidly growing internet TV channel is expanding it’s news operation and is currently recruiting experienced journalists, especially those with knowledge of sub editing – so what are you waiting for?


EXCLUSIVE: Journalists Plan Three Days of Industrial Action

EXCLUSIVE: Mr Monkey can reveal workers at Newsquest North East based in Darlington are angry about job cuts and a pay freeze and have voted for industrial action in a secret ballot.

They now plan to hold mandatory union meetings at noon on Monday 5 January, Tuesday 6 January, and Wednesday 7 January.

On 5 January journalists at the Newsquest centre in York – fifty miles down the road – will receive the results of their ballots for industrial action over similar issues.

Jenny Lennox, Assistant Organiser for the North of England said:

“The Newsquest chapels in the North East had both been offered pay rises during negotiations before the company snatched them away and imposed a pay freeze.

“At both centres there have been big job cuts and the heart has been ripped out of papers that played a significant part in the distinctive cultural life of the region – and helped to hold the communities together.

“Our New Year’s message is that members are determined to stand up for each other and to stand up for journalism.”

The Darlington Newsquest centre publishes the daily Northern Echo, the Darlington and Stockton Times, the Durham Times and the Advertiser series of free papers – employing around 100 editorial staff.

Mr Monkey reckons that if the financial problems at the Gazette’s parent company, plummeting advertising revenues and falling circulation figures continue, staff at Chapter Row may be forced in to taking similar action to protect their jobs.

So if it’s about cost cutting, perhaps it’s time to carry out a job evaluation – what better place to start than with the editor because he seems to spend most of his time hiding up Malcolm’s arse.


Mr Monkey Acquires A Stake In The Gazette

Mr Monkey has been watching the financial performance of Johnston Press the company that owns The Malcolm Fanzine Shields Gazette closely over the past 6 months. It seems they’ve not been fairing too well of late and thier share price has reached rock bottom.

One of Mr Monkey’s financial advisers has been keeping a close eye on things and for the past two months this chimp has been contemplating buying some of the company’s shares. Mr Monkey thought it would not only make financial sense, but it would also allow a bit of monkey business at the company’s AGM – imagine Papa John’s Szymanski’s face when questions aboutthe Shields Gazette and his relationship with council leader Iain Malcolm are tabled at the AGM?

Mr Monkey can now confirm that one of his holding companies has recently acquired shares in Johnston Press and will now be privy to shareholders information which he will happily share with readers of this blog.

Over the past couple of years Johnston Press has been finding trading conditions difficult and in June there was a rights issue to raise funds to help alleviate the company’s debt burden – at that time shares were valued at 53p – today the value of those shares have fallen to just 9p.

On December 24th 2007 the share price was £2.76 and just under a year later (5th December 2008) they had fallen to 8p.

Mr Monkey reckons times are hard at the Gazette Johnston Press and they’re going to get even harder for Papa John over the coming months.


Read All About It .. A Day Later

Mr Monkey was the first blogger to bring you news of Roy Keane’s departure from Sunderland Football Club.

Once again the Shields Gazette netty paper that has the nerve to call itself a newspaper was scooped by Mr Monkey.

It seems the days of this antiquated news medium are numbered – take today. As the Gazette was hitting the streets with a front page ‘scoop’ – KEANE CRISIS, Boss locked in talks with board – Mr Monkey was breaking the news that he’d quit the club – talk about yesterday’s news.

With cutting edge journalism like this it’s no wonder the Gazette’s circulation is falling faster than the share price of parent company Johnston Press.

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