Post by J G MillerPost by Jim LesurfI guess that the situation for Future Pub is similar to the one with
IPC a year or two ago. ie. Big over-sized company which may have
little idea what many of its mags do finds it needs some cash asap.
Which indicates very poor management.
I'm inclined to agree. However it seems to become the norm when one big
company 'owns' others in chains and conglomerations far too big for any
individual to really know how each part is working.
Many years ago I came to the conclusion that almost any collective
enterprise that grew beyond a few hundred people would tend end up becoming
inhabited by many who never saw or thought about the mere clients or
customers. Instead just became focussing on playing 'internal games' and
'one up on the oppostion' in terms of their personal status, etc.
I don't know the details for Future Pub. But IPC was/is, IIRC, owned by
Warner - a large US/'International' meeja company. AIUI Warner needed cash
because its interests that had nothing to do with print were struggling, so
told IPC to flog off or shut down mags to make their presentation wrt
stockholders and banks look more impressive. Perhaps also because 'top
suits' have to show they can move the deckchairs around. The usual monkey
motions also beloved of polticians who have to show they are 'doing
something' and to deflect criticisms that things aren't working well.
All part of the USA/UK 'business model' where all that matters is that
shareholders get their next dividend and are made to feel confident. And
where the big investors take no interest in understanding or controlling
beyond that. Witness how despite recent and current events the shareholders
of certain newspapers *haven't* dumped the people running them.
Smaller companies can also be caught by this if they end up owned by people
who are just 'professional investors' and will sell one company off (or
shut it down to realise the assets) to buy another if it suits them. Can
easily happen to a company that makes a profit and produces good output.
Slainte,
Jim
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