Who wants to be a newspaper millionaire?

By on Oct 12, 2007 in Media

Newspaper companies clearly need to create a stronger culture of innovation. So this employee incentive program from Gatehouse Media is a step in the right direction.

The idea is that any employee (or group of them) who can come up with a business idea for the company that makes $50 million in revenue by the end of 2010 will receive a $1 million bonus.

I have a couple different reactions to this:

1. Bravo, Gatehouse, for leveraging employees’ brainpower and encouraging them to think outside the box in order to take the company profitably into the future. I and many others have complained about the lack of R&D by traditional news companies, so this is a step in the right direction.

2. I have my doubts that Gatehouse will end up actually paying out the money. After all, if an employee has an idea for a $50 million business, why not quit and pursue the idea him/herself?

3 Comment(s)

  1. On Oct 16, 2007, Holly said:

    Line 3 of this contest states, "GateHouse and/or its other employees have many ideas of their own for the production of revenues, some of which may be similar to yours. An idea that is new to you may be old to Gatehouse, or similar or identical ideas may be conceived independently. Accordingly, you hereby waive any claim that GateHouse misappropriated any ideas in or portions of your submission in which Gatehouse may engage in the future." Can one assume, then, that if an employee generates the "$50 Million Idea," and GateHouse upper echelon already thought of that idea, then the company ran a contest with the winning proposal already in the pocket? Sadly, this contract must be signed prior to submission, or the idea is considered defunct. It's difficult enough to trust the sinister suit on the contest's cover, let alone this idea that falls just shy of panhandling. To sum it up: THIS MAKES NO CENTS!!!

  2. On Oct 16, 2007, HollyNo Gravatar said:

    Line 3 of this contest states, “GateHouse and/or its other employees have many ideas of their own for the production of revenues, some of which may be similar to yours. An idea that is new to you may be old to Gatehouse, or similar or identical ideas may be conceived independently. Accordingly, you hereby waive any claim that GateHouse misappropriated any ideas in or portions of your submission in which Gatehouse may engage in the future.”

    Can one assume, then, that if an employee generates the “$50 Million Idea,” and GateHouse upper echelon already thought of that idea, then the company ran a contest with the winning proposal already in the pocket? Sadly, this contract must be signed prior to submission, or the idea is considered defunct.

    It’s difficult enough to trust the sinister suit on the contest’s cover, let alone this idea that falls just shy of panhandling.

    To sum it up: THIS MAKES NO CENTS!!!

  3. On Nov 21, 2007, Kurt said:

    So, can you get me invite code for Pownce or Jaiku? I\'m apparently on a waiting list! Sheesh.

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