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Aggressive Expense Management Saved Meredith 40M


first_imgWhile most executives refused to speak on the record about the rash of layoffs and overall panic in the magazine industry, one, Meredith’s Art Slusark, actually did (although, keep in mind, he is a spokesperson for the company).Here’s his unedited take:We are in a very tough economic environment overall, and for media companies in particular.  Visibility is very low, and it’s difficult to predict the duration of the current advertising downturn. It is equally difficult to forecast how advertising budgets, which generally reset with the start of the new calendar year, will change as we begin Calendar 2009. We do believe current marketplace trends are cyclical, not structural.  Data related to advertising spending and consumer media usage supports this position. Given the current economic environment, we are putting increased emphasis on aggressively managing expenses across the company.  Despite 22 percent higher paper prices, total company expenses declined 3 percent in the first quarter of quarter fiscal 2009, which ended September 30, 2008. Excluding acquisitions, total company expenses declined 5 percent. Our strategic sourcing initiative has saved us more than $40 million in vendor costs.  We are only filling essential open positions.While the weak economy continues to significantly impact the demand for advertising, the other fundamentals of our business remain strong.  Our circulation metrics are solid. Our non-advertising related businesses, particularly Meredith Integrated Marketing and brand licensing, are posting strong revenue and profit growth.Meredith is executing a three-pronged performance improvement plan to address the current environment. Our strategies include:1. Special sales incentives and new marketing programs to maximize market share in our core publishing and broadcasting businesses; 2. Aggressive expense management, including tight control of labor and vendor costs; and 3. Revenue diversification initiatives to accelerate growth of new revenue streams, many of which are not dependent on traditional advertising.  These include the aforementioned integrated marketing and brand licensing operations, both of which we’ve expanded significantly in the last two years.  We’ve also invested in new tools and platforms across our 40+ Web sites and broadened the reach of Meredith Video Solutions – our in-house video creation unit.last_img read more


VIDEO Students Create Short Documentary About Wilmington High School


first_imgWILMINGTON, MA — Recently graduated WHS seniors Kayla Blonigen, Tatiana De Oliveira and Eliza Stuart created a short documentary about Wilmington High School for their senior project. The film, which features a tour and interviews with administration, teachers and students, is meant to help incoming freshmen be better prepared and feel more comfortable at the school.Watch the 12-minute film, courtesy of Wilmington Community Television, below:——Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedVIDEO: WCTV Releases “Wilmington Remembers”: A Documentary About Mid-20th Century WilmingtonIn “Videos”News & Notes From WCTV: Wildcat TV After School Club Starting At Wilmington High SchoolIn “Community”VIDEO: WHS Softball Team Honors Its SeniorsIn “Videos”last_img read more


Sushila Goenka cremated


first_imgKolkata: Sushila Goenka, wife of R P Goenka and mother of Harsh Vardhan and Sanjiv Goenka, was cremated at the Keoratala burning ghat on Monday morning.Senior ministers of the state government, city based industrialists and people from all walks of life were present at the crematorium to pay their respects to the departed soul. She had died in Kolkata on Sunday evening.She was cremated this morning at Keoratala burning ghat in the presence of a large gathering of friends, family members and admirers. Her eldest son Harsh Vardhan Goenka, chairman of the RPG Group and youngest son Sanjiv Goenka, chairman of the RP-Sanjiv Goenka Group, were present along with their children and family members Rama Prasad Goenka’s brothers Jagdish Prasad and Gouri Prasad Goenka.Born in Kolkata, Sushila Goenka, daughter of Ram Sundar Kanoria, was married to Rama Prasad Goenka in 1948. An ardent devotee of Indian tradition and culture, she was well-known for her interest in Indian music and her intimate connection with some of the musical legends of India, including Lata Mangeshkar.last_img read more