In the ad department, each Account Executive focuses on a specific area of expertise, in order to preclude any possibility of competition. For example, Residential Real Estate is designated to D, Commercial Real Estate clients are managed by A, and S deals with Educational Institutions. Whoever thought this up was wise to do so. Since there's no chance of the Account Executives pitching the paper to the same client, every one gets along really well.
But there's nothing like working in an account services to make you realize just how bad the economy is. This position has already done a lot to educate me about current events, and that's not because I work at a newspaper. These people are stressed, and for good reason. Take for example the recent announcement of GM's bankruptcy. This affects D directly because she handles the automobile industry in addition to Residential Real Estate. I can only imagine what her commissions look like now as opposed to a year or two earlier.
This reminds me of my high school economics class, where my teacher told us that every expenditure is someone's receipt. Well, because receipts have been low for businesses in Atlanta (and everywhere else, I'm sure), they have less money to advertise, which hits the pocket of my supervisors.
I don't say all of this to incite feelings of depression or melancholy, because I believe this recession is teaching everyone a great deal about the importance of spending less than what's earned, and spending less in general. I'm pretty sure that the entire newspaper staff has picked up on this. Even though Atlanta is home to some really delicious local restaurants, nearly everyone pinches pennies by bringing their lunch. Advertising rates have been reduced sharply in order to entice existing and new businesses to place ads in the paper. The circulation department has lowered the price of subscription in order to keep money flowing into the company.
When the going gets tough, the tough get going, that's for sure. I think when this economy rebounds in a few years (don't delude yourself into thinking you'll be balling in 2010, because in all likelihood you won't), people may just emerge a bit richer and a heck of a lot smarter. I dare say there's hope for us yet...
1 comment:
Well reported. Learning to really save that money is never a bad lesson, even though it's a tough one. I hope the job is still going well! Sounds like you're getting a bunch of great experience! Though, the monetary side isn't growing at the same rate...
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