Union Calls on Investors to Question Pulitzer on Labor Dispute
09 December 2003 - 6:44AM
PR Newswire (US)
Union Calls on Investors to Question Pulitzer on Labor Dispute
WASHINGTON, Dec. 8 /PRNewswire/ -- In a letter to institutional
investors, President Linda Foley of The Newspaper Guild-CWA,
alerted analysts to the stalled contract negotiations and unsettled
labor conditions at the flagship newspaper of Pulitzer, Inc., and
urged them to question Pulitzer management about the impact these
conditions may have on investment in the company. Workers at the
St. Louis Post-Dispatch voted overwhelmingly, by a 96 percent
margin, on Dec. 7 to authorize a strike and other economic actions
at the newspaper if a fair settlement is not reached. TNG-CWA
represents about 600 workers at the newspaper. Management's refusal
to engage in meaningful negotiations with TNG-CWA, the union
representing employees at the St. Louis Post-Dispatch, "is
ill-timed and may ultimately undermine the longterm viability of
Pulitzer's largest and most profitable operation," Foley wrote. "I
encourage you to ask your analyst to question management about the
impact this dispute may have on your investment" during the analyst
call scheduled for 9 a.m. on Tuesday, Dec. 9, she said. Foley noted
that Pulitzer management announced today that the company was
likely to fall short of analysts' earnings expectations for 2004.
"A labor dispute may further reduce the company's earnings
potential for 2004," she wrote. DATASOURCE: Communications Workers
of America CONTACT: Jeff Miller or Candice Johnson of the
Communications Workers of America, +1-202-434-1168 Web site:
http://www.cwa-union.org/
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