The Nation newspaper announced today that it has released 9 employees, 6 who were permanent and 3 part timers. Wonder if Harold Hoyte is resting comfortably at night. He and a few others sold a profitable local newspaper for a bag of silver to provide comfort in their golden years and the rest as they say is history.
Why should Barbadians support this newspaper when it continues to send home Barbadians?
A scan of the parent company’s most recent financials confirms that a conservative decision was taken to chargeoff US38 million in goodwill. It seems there is recognition by the Board of Directors that web-based media has been impacting negatively on traditional paper-based media delivery. Despite the one-off hit to their profit and loss, One Caribbean Media (OCM)has taken the decision to send home people to defend its balance sheet position. OCM suffered a decline in profit before tax of 9% 2010 over 2009.




















