Issue #20.28 :: 02/04/2009 - 02/10/2009
Morris’ new hire indicates publisher is headed for bankruptcy protection

BY THE INSIDER

AUGUSTA, GA - Morris Publishing, parent of The Augusta Chronicle, has hired a bankruptcy specialist. Morris announced the hiring of Neal, Gerbert & Eisenbert LLP, the same law firm that advised the Tribune Co. as it filed for Chapter 11 protection.

Billy Morris said the company was looking at its “strategic options.” More and more, the primary option looks like filing bankruptcy to unload its debt.

Morris Publishing posted a loss of $163 million for the third quarter of last year. It’s carrying about $400 million in debt, and lenders are demanding that it sell assets to repay its loans. Those sales must be completed by the end of March and wrapped up by May 30.

Morris has quit paying 401(k) contributions for employees. Layoffs continue at Morris newspapers, most recently at the Athens Banner-Herald, where 15 full-time employees lost their jobs.

On the brighter side, The Chronicle is re-instituting newspaper delivery to rural customers — but only through the mail. For $36 per month, you can get a newspaper mailed to your home. You may get it the same day, but there’s no guarantee. “Please expect that it may take two days for delivery to occur,” the letter says. No carrier delivery will be offered on Sundays or holidays.

Of course, for $10 per month you can get dial-up Internet service and read the paper online the same day.

Joe Bowles has decided to run for re-election as Augusta commissioner for District 3.

That’s good news for those of us who like to hang on to our money. Bowles and Commissioner Jerry Brigham are the only commissioners with a strong record for squeezing every nickel until the buffalo poops.

Oh, you say there isn’t a buffalo on the nickel anymore? I guess they’ve been hanging onto that nickel a long time.

Bowles had pondered sitting out a year, then running for the Super District 10 seat when Commissioner Don Grantham is term-limited out.

Rumor was than Fred Sims, son of State Rep. Barbara Sims, was interested in Bowles’ District 3 seat. However, Bowles decided to stay where he is. He said he “realized that once out, I probably wouldn’t get back into politics.”

Brigham says he’s still trying to decide whether to run again. Commissioners Betty Beard, J.R. Hatney and Calvin Holland are also up for re-election this year.

Augusta Richmond County Coliseum Authority member Johnny Hensley has not given up on his idea of advertising for major acts from Atlanta and Nashville to perform at James Brown Arena.

Other members of the authority shot down his $39,000 plan to buy full page ads in the Atlanta Journal-Constitution and The Tennessean. They didn’t think it was a wise use of public money.

As we all know, the Coliseum Authority is an expert on wise use of public money — such as spending $13,000 to hire a lawyer to defend a member from battery charges, giving in-over-his-head former manager Flash Gordon a $125,000 budget to promote shows, and throwing away $40,000 on an Aaron Tippin show that drew a few hundred people.

Hensley says he was disappointed by the decision. However, the idea was shot down on procedural grounds. Authority members on Hensley’s committee didn’t attend his committee meetings. Therefore, Hensley didn’t get approval from the committee and couldn’t bring anything to the full body.

It seems the Coliseum Authority has such delinquent members that they don’t attend committee meetings, so that’s where good ideas are sent to die. I wonder if that’s where they’ll send the idea of giving the authority more tax money after the arena bonds are paid off next year.

 

Some media changes: Long-time WRDW-TV meteorologist Bob Smith is stepping down from his anchor role at News 12. He spent 32 years there. “Bob is an icon,” said Estelle Parsley, WRDW news director. He’ll continue as a part-time meteorologist beginning next fall.

Clear Channel stations in Augusta lost about nine positions during the recent cutbacks at the corporate radio giant. Most were in sales. That’s not bad, considering the 1,800 jobs lost nationwide.

NBC Augusta recently reduced its staff by about four people, including weekend anchor Tina Terry.

Buzz on Biz, hosted by Neil Gordon, has moved to WRDW 1630 AM, where it is now heard from noon-2 p.m. on weekdays. It formerly aired on WNRR.

 
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