Unfortunately, in spite of these and many other great accomplishments, our financial performance is not where we need it to be. Through the first nine months of 2011, our revenues are off plan by 3%, largely driven by the national advertising category which is off almost 30% year-over-year. Operating cash flow is behind plan by 24%.
In the face of continuing challenges to our industry, we need to continue to work together. We need to sustain our print businesses while we find new digital sources of revenue. We need to innovate and optimize our resources. And I know we can. After just three months in my new role, I’m continually inspired by our employees. You have a passion for winning and do so much for our company and our community.
Yes. If only there was some kind of money available:
Oct. 4 (Bloomberg) -- Tribune Co. won court approval to pay as much as $42.5 million in incentive bonuses to 640 managers of the bankrupt newspaper publisher.
But hey, you all need to work harder, because your passion is inspiring (and cheap!), and I know we can innovate and optimize and synergize our way to winning!