Dear Crikey, your Palamedia insider sounds more like an outsider to me.

The simple facts of our situation are as follows. Revenues are up 22% on the corresponding period but our loss while greatly reduced is still a loss. To ensure the future of the business the Board has secured a $1.75 million loan and we are actively considering the changes that will be necessary to achieve profitability in months rather than years.

The changes we make will reflect the reality that the Insto Magazine and Conference division is our outstanding performer and therefore central to future plans for Palamedia. Yes it is true that staff and sales staff in particular, have been reminded that meeting their targets is essential, but hey, call me old fashioned, isn’t that how successful businesses become and stay profitable?

Regards
David Champtaloup
Executive Chairman
Palamedia

CRIKEY: Interesting. No comment on our report that David Koch would buy the broadcasting division a do a deal directly with the likes of Seven and Sky News Channel, rather than through a troubled listed company in which he has a 7 per cent stake.