Lessons from YP Publisher: Plan your bankruptcies early and often
I ran across a couple of quotes today that are worth sharing, especially if reading crazy statements by important Big Company executives is your thing.
Let’s kick it off with the CEO of the newly-emerged from bankruptcy US Yellow Page company Dex One (the big debt) artist formerly know as RH Donnelly. In his press release celebrating their rapid emergence from bankruptcy, he shares his tips for getting through bankruptcy quickly:
“We did a lot of pre-planning — we did not wait until we were in some kind of economic crisis,”
Pretty much shows the state of the industry if you plan for your bankruptcy well in advance.
However, that was not even closely the most WTF moment…
Even though eight in 10 Americans still use the yellow pages book, Dex One expects a decline in its print product over time, Swanson said.”There’s a shift to these other media — Internet, search engine, mobile or voice, but it is a slow evolutionary process. It’s not nearly as radical a change as I think many people would like to believe,”
Let’s ignore the first “fact” for now (do you know even eight *total* people who still use the Yellow Page book?). But this CEO thinks that the move to finding business information online is “slow evolutionary”? Nice though buddy, now get back to planning your next bankruptcy.
I will leave you with a quick poll. Which anagram do you find most amusing for the newly renamed Dex One?
- Ex Done
- Ex Node
- Ed Oxen
- Need Ox