CBS News Claims Recession Is Ending as It Plans Mass Layoff; Couric Salary Destroying CBS News Morale
NOTE: On weekends I do a lot of surfing and write a number of articles, many of which never get published. This is one I started on Saturday and it didn’t seem to generate enough interest to get published. Now CBS and Katie Couric are today’s headline on the Drudge Report.
CBS News has an article that the Great Recession is ending as it plans to announce a major layoff that encompases every area including 60 Minutes. What are these people smoking or drinking?
(CBS) The administration is hailing the economy’s strong, 5.7 percent annual growth rate reported for 2009’s last quarter, the fastest pace since 2003 and second straight quarter of growth after four of decline.
And while many economists are waving caution flags, noting that much of the growth was simply from businesses replenishing threadbare inventories, one leading economist says flat-out that, “The Great Recession is over.”
Mark Zandi, chief economist at Moody’s Analytics, does point out that the economy isn’t out of the woods yet, but says it appears to have turned the corner.
Meanwhile the depleted staff of the Los Angeles Times reports that CBS News is preparing for a major layoff next week. If the future is so rosey, why the need for layoffs?
CBS News employees are bracing for a significant round of layoffs that will hit the news division next week, according to multiple sources. The budget tightening is expected to affect every newscast, including “60 Minutes,” the network’s crown jewel, although that show will likely suffer minimal losses.
People familiar with discussions about the cuts inside the news division have heard that the total number who could lose their jobs could reach as high as 100, or 7% of the approximately 1,400-person staff. A news executive disputed that, saying the final figure would be considerably lower.
The cuts were prompted by a desire to mitigate news-gathering costs and make the news division more of a financial contributor to parent company CBS Corp., the news executive said.
“Every year we look at where the resources are spent, and if there’s a way to spend the resources more effectively, we’re going to do that,” said the executive, who declined to be named discussing personnel matters. “This is part of the overall plan to make CBS News successful and vibrant and award-winning for a long, long time. It won’t have any effect on the ability of CBS News to continue with what we think is the best coverage in the news business right now.”
But the news division’s remaining foreign bureaus have already felt the blow. According to sources, the Moscow bureau was effectively shuttered today after its three staffers were let go. And three part-time employees in Tel Aviv were laid off this week, leaving just one producer to staff that office. That means CBS’ once-robust international reporting corps now has full bureaus with reporters in just London and Toyko, and small offices in half a dozen other foreign cities.
The layoffs are also expected to be keenly felt in CBS’ Washington bureau, where sources have heard that about a dozen out of the approximately 150-person staff could lose their jobs.
Zandi admits the recession is history only “in a very technical sense. It’s probably in a sense only an economist can really appreciate. Not until we start to see jobs will, I think, people believe that the recession is over.”
Apparently the “Perky One’s” salary ($300,000 a week) is hacking a lot of people at CBS off. CBS Evening News has been in last place since she came aboard. From today’s Drudge Report:
CBSNEWS anchorwoman and 60 MINUTES contributor Katie Couric faces a dramatic pay cut at the network, insiders tell the DRUDGE REPORT.
CBS boss Les Moonves is determined to save money and trim expenses at the former crown jewel of broadcasting, from top to bottom.
Couric, the highest paid TV news personality in history, commands over $14 million a year, plus bumps for non-EVENING NEWS appearances.
But her salary is now in the direct line of fire, network insiders explain.
“She makes enough to pay 200 news reporters $75,000 a year!” demands a veteran producer. “It’s complete insanity.”
The angry source continues: “We report with great enthusiasm how much bankers are making, how it is out of step with reality during a recession. We’ll look at Katie!”
MORE
Couric’s $300,000 a week paycheck has become the obsession of disgruntled CBS staff, just as deep layoffs rock the fishbowl.
A populist backlash against Couric’s cash is said to be forming inside the newsroom.
Dozens of employees — including staff members in D.C., San Francisco, Miami, London, Los Angeles and Moscow — are being let go, the NEW YORK OBSERVER reports.
Couric’s current CBS contract expires next year.
Hat Tips CBS News and Los Angeles Times, Drudge Report and New York Observer
She ain’t no Sarah Palin … how’d you like to wake up next to that?
She doesn’t look so “perky” without her make-up. Yes, there are a lot of miles on that chassis.
[1]
Better contract next time there angry anonymous source!
Typical leftist drivel. Rather than look at their own failings, they would rather cut Couric down to size. Was she worth the money? Probably not. But somebody thought so or they would not have been paying her the money all these months.
Sigh….
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couric~~where boners go to die.
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MUAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH
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I think my laughing broke the page
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drdog09 -
“Leftist drivel?”
“Probably not” worth the money?
If you remember, CBS rolled out an unprecedented advertising and PR campaign when Couric assumed the anchor chair. Since then, she has been mired in last place. Since Diane Sawyer has been beating her, it’s not just a sexist thing. There’s no getting past the fact that, by any measure, Couric has been a giant failure after demanding an unprecedented salary.
Maybe the “Perky One” will get whacked. I love stories with a happy ending.
[6]
How would you like to wake up next to that?
HHMMM—-It would be better than Pelosi but a dead horse would be a challenge.
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Couric’s low ratings = reduced advertising revenues = layoffs.
I can understand why CBS News employees are p!ssed … especiaqlly those about to get whacked.
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+340,000 jobs and 7.2%
-CBS
[9]
MI Conswervative -
Yes Katie looks like she’s ready for her 3,000 mile botox change. That photo shows illustrates what could happen if you don’t change your engine’s oil untill 8,000 miles.
Why do you always think I’m opinionated? I’m actually “Mr. Nice Guy.”
[10]
She doesn’t look so “perky” without her make-up.
Sadly bc, I believe she IS wearing make-up in that picture.
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BC,
You are right on all counts fella. But if you want to hew to the ideal of free enterprise, private contract and free exchange then we have to be prepared to take the good with the bad. Couric is the bad case.
Do I think she is over paid? Damn straight I do. But do I decry her ability to have convinced the Suits she was worth all that money? Not one bit. The Suits should have known that the Today show is an ensemble cast where the whole is worth more than the parts. Their mistake, not Courics.
[12]
I’m still waiting for one of these news orgs to switch from completely Liberal to completely Conservative. Their ratings will flip in an instant, they’ll start making money again, and most of all the other networks will hate them even more than they hate Fox.
/reality
[13]
CBS “News”? I’m actually stunned they’re still in business at all!
It’s not about CBS, but emblamatic of what ails all the lame stream media…a couple years ago Chuck Schumer quoted a NY Times article saying: “The NY Times reported that…” (what he was quoting isn’t important).
It turned out the NY Times story HE was quoting from was an interview they did with HIM. He offered an opinion (wrong as usual) during the interview, the NY Times printed his opinion in the interview piece…and then he quoted the NY Times story as his SOURCE! Truly, the Circle of BS!
[14]
The “Pukey” Katie Couric!!!!
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JR that’s pretty funny–these people can’t get over themselves. I wouldn’t be surprised to find out that Schumer watches himself on tv with the lights down low, a glass of wine. . . . .
[16]
Sad to say, but the news business, meaning “hard news”, is still male dominated. Couric is just trying to “look” the part.
[17]
+467,000 and 5.5%
-NYTimes
http://hotair.com/archives/2010/02/03/unemployment-rose-in-over-80-of-metro-areas-in-december/
[18]
How about this one to brighten your day
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18. It’s too bad about Pataki, if he were not such a huge RINO he might have a WH future
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Imagine what the employment figure would be if Barack “Daddy” Obama wasn’t hiring everybody into his “government” party.
This is nothing more than reemployment not employment.
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20. Very true, but it wont last. Eventually the states will go bankrupt and small business will go under in droves.
The government cant pick up those pieces fast enough.
[22]
http://www.politico.com/news/stories/0210/32434.html
[23]
“to enjoy popcorn is to love popcorn”
-Ancient Thai Proverb
http://hotair.com/archives/2010/02/03/las-vegas-mayor-obama-is-a-real-slow-learner/
[24]
Sorry, the mayor of Las Vegas has it wrong. The president is a fast enough learner alright. It’s just that he’s learned the wrong things.
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Is it time for Reid to announce I will not run for reelection.
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Maybe Rahm can tell the president he is retarded and that is why he is a slow learner.
Sorta like the class brain (Obama) has a White House full of slow learners.
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HA defends the idea that you shouldn’t spend your college money in Vegas, but he misses yet another point that Vegas doesn’t want Obama saying you will LOSE your college money in Vegas. People go to Vegas to gamble with the idea that they can WIN money. College money or not, Vegas is selling dreams, not the idea that you are blowing cash.
[28]
I have heard that CBS asked the Detroit Lions to negotiate Katie Couric’s contract on their behalf a few years back.
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And now Danny Tarkanian has this Reagan video about Hrry Reid:
http://www.tark2010.org/reaganslastcampaign
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29. Pretty darn good if you ask me.
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Did Reagan have an impact??
24 years later he is a rallying point against Harry Reid. Gotta love anyone with a nickname “Dutch”. Especially if you live in Western Michigan. HA
[32]
BC, my apologies. My missives were not directed at you but the idiots referenced in the article. But somebody moaning because somebody else was a better poker player gets me going….