Letter from the Editor 

I just took an 8 percent salary cut — and so did almost everyone else here at Contemporary Media, Inc., which publishes the Flyer, Memphis magazine, Memphis Parent, MBQ, and various other specialty magazines. Employees at the lower end of the pay scale took a 4 percent cut. The company's 401(k) matching program was also suspended. The cuts are intended to be temporary and will be reevaluated at the end of the second quarter.

Nobody around here, to say the least, is happy about this development, but the cuts were made as a proactive measure in light of the sagging economy. The good news is that all our current employees kept their jobs. And the even better news is that CMI has no debt to pay off and we anticipate being able to operate our businesses comfortably, even in this troubled economy.

We have another advantage: We are relentlessly local. That is to say, our customers' businesses are, for the most part, owned by Memphians. As Memphis goes, so goes the Flyer. We are not dependent on large chain advertisers' slick inserts to pay our bills, and that's a good thing.

And we are cautiously optimistic. Some of our realtor customers tell us that home sales are beginning to pick up. Beale Street has several weekend events planned for February — including the International Blues Challenge and the Zydeco Festival — that traditionally stimulate local tourism. The casinos seem to be hanging in there nicely. In fact, the Flyer you are holding "sold out" of advertising space — a very good thing, indeed.

We are also in the midst of a plan to increase the Flyer's circulation. Around 95 percent of the 52,000 papers we distribute each week are picked up, which tells us two things: 1) Our price — free! — is right, and 2) there are a lot more Memphians who would pick us up if we printed more papers.

I'm no Pollyanna, but I have lived long enough to know that everything, including the economy, runs in cycles. The current crunch is painful but not permanent. There is a Zen saying I lean on in hard times: "Yesterday, my house burned down. Today, I have a better view of the rising moon."

Here's to the rising moon.

Bruce VanWyngarden

brucev@memphisflyer.com

Comments (3)

Showing 1-3 of 3

Add a comment

 
Subscribe to this thread:
Showing 1-3 of 3

Add a comment

ADVERTISEMENT
ADVERTISEMENT

Blogs

Tiger Blue

Tigers 44, Southern Illinois 31

Beyond the Arc

Grizzlies trade Troy Daniels to Phoenix

Music Blog

Listen Up: Louise Page

News Blog

Suit Targets 'Destructive' Drivers License Policy

Film/TV/Etc. Blog

mother!

News Blog

Supreme Court Steps In on Fayette Church Matter

Intermission Impossible

Muhammad Ali Meets Stepin Fetchit at The Hattiloo Theatre

ADVERTISEMENT

More by Bruce VanWyngarden

Readers also liked…

  • Vendor in the Grass

    The lady doth protest too much, methinks. — William Shakespeare

    Is there such a thing as "bad activism"? I'm asking because I'm seeing a lot of criticism of the folks who are protesting the Memphis Zoo's encroachment onto the Greensward at Overton Park.

    • Mar 31, 2016
  • Common Sense Pot Policy

    Unlike Bill Clinton, I've inhaled. So have 49 percent of all Americans, according to a recent National Survey on Drug Use and Health. Marijuana (medical or otherwise) has been decriminalized or legalized in 23 states, and measures are on the ballot to legalize it in five more states this November, including Arizona, Nevada, Massachusetts, Maine, and California (where medical pot is already legal). A recent Gallup poll found that 53 percent of Americans think pot should be legalized and regulated like alcohol ...
    • Aug 25, 2016
  • Why The Fuss?

    • Nov 17, 2016
ADVERTISEMENT
© 1996-2017

Contemporary Media
460 Tennessee Street, 2nd Floor | Memphis, TN 38103
Visit our other sites: Memphis Magazine | Memphis Parent | Inside Memphis Business
Powered by Foundation