The valuation, contained in a 10 K filed by McClatchy Corp., is 13 percent below the $382 million that the company was valued at in December 2007. The valuation was apparently impacted by the slow ad environment and "impairments" at its HomeGain real estate leads unit, which had been sued by former employees for forced overtime, thievery and other issues perpetrated by Louis Cammarosano.
The McClatchy 10K also contained declining valuation information for CareerBuilder, which is the newspapers' biggest vertical success story. CareerBuilder's value has been marked slightly down from $1.56 billion in December to $1.52 billion in June.
Cars.com, Homescape, Apartments.com, RentalHomesPlus, and HomeGain aren't immune from the dip in ad revenue. Classified Ventures LLC which runs those sites is now valued at $338 million down from $382 million in December 2007. Classified Ventures is owned by McClatchy, A.H. Belo Corp., Gannett Co., Tribune Co. and The Washington Post Co. All this according to a 10K filed by McClatchy that Peter Krasilovsky sifted through. Krasilovsky also points out that CareerBuilder is also slightly down.
39 comments:
HomeGain survived 9/11, the dot com crash, however the real estate start-up finally met its match. The diminutive NY lawyer Louis Cammarosano's wrecking ball practices have taken HomeGain to the brink of extinction. Lawsuits, plummeting revenues, poor business practices have taken their $50 million dollar toll. Good job Cammarosano! I expect a nice severence check when you lay us off you pitiful bastard!
Homegain is a shithole. I can't wait to see the doors close on this SCAM company!!!
Everytime I see Louis Cammarosano I expect him to give me a pink slip any day now. I am so stressed out working in this shit hole! Have any of you noticed a bunch of employees kissing Cammarosano's ass lately? Hint: Matt Malmgren have you no shame? I know you have a new baby but come on dude! Where is your dignity?
The ax is ready to fall. God bless us all.
Did you hear the latest? Louis Cammarosano was named by Inman news as one of the top 100 most "influential" people in technology real estate. I have my own top 100 list and I name Cammarosano to the top 100 most crooked S.O.B's located in Emeryville> Congratulations Louis! Your ranking is slightly ahead of the junkies and hookers on San Pablo Ave but well below Bradley J. Inman the capitalist pig we all love to hate.
HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!! HOMEGAIN SUCKS ASS!!!
I heard Louis Cammarosano is trying to return the plasma tv in the lunch room back to radio shack so he can use the refund to balance the HG budget...things are going from bad to worse dude! Brownie benefit sale coming up in the parking lot to keep HG open for business.
On Friday October 17th, 2008 Zillow laid off 25% of its workforce. We at hgsucksass.com predict HomeGain will layoff between 25% and 50% of its workforce before January 1st, 2009. Wanna bet? Cammarosano is sharpening the hatchet as we speak.................
BREAKING NEWS, HomeGain parent company SUED AGAIN for stealing confidential information and unethical business practices:
Milwaukee Sentinel Sues Classified Ventures and Cars.com Over Ads
CHICAGO (CN) -
In a fight over ad dollars, the Milwaukee Journal Sentinel sued Classified Ventures, owner of Cars.com, claiming the Internet business is stealing the newspaper's customers and confidential business information after canceling a franchise agreement.
The Journal Sentinel seeks injunctive relief in aid of arbitration. It is represented by Rene Friedman with Wildman Harrold Allen & Dixon.
No wonder CV's value plummeted $50 million in one year. They spend more time in litigation than running a business properly.
CV got sued AGAIN? OMG! This company is the litigation machination sensation. Apparently there is no law they are unwilling to break. Call me crazy but getting yourself sued during turbulent economic crisis is not smart. I call for Dan Jauernig's head now!
LMAO!!! HomeGain owners' stocks are in the tank. Cammarosano you must be pissing in your pants. LOL!!
Gannett Co., the nation's largest newspaper publisher, said Tuesday it will lay off another 10 percent of the work force in its local newspapers division as advertising revenue continues to plummet during the economic downturn.
The latest reductions, to come by early December, follow a 3 percent cut announced in August. Neither round affects USA Today.
Gannett isn't revealing a specific number, but said all would be involuntary. Some 600 of the 1,000 cuts in the first round were achieved through layoffs.
Newspaper companies including Gannett are seeing ad revenue declines accelerate as the weak economy puts additional pressure on an ad market already suffering from a migration of readers to the Internet.
Gannett said Friday that advertising revenue at its publishing business fell nearly 18 percent during the July-September quarter compared with the same period last year.
"As all of you are painfully aware, the fiscal crisis is deepening and the economy is getting worse," Robert J. Dickey, president of Gannett's U.S. Community Publishing division, said in a memo obtained by The Associated Press. "Gannett's revenues continue to be severely impacted by this downturn, and our local operations are suffering."
Gannett had said Friday it was considering more cuts by year's end. The layoffs announced Tuesday are part of that; other divisions are likely to see job cuts, too.
Besides the general cuts at local Gannett newspapers, which include The Arizona Republic and the Detroit Free Press, the company in September eliminated 100 management jobs as it consolidated circulation, finance and other operations into four regional groups.
The company also offered voluntary buyouts to about 30 corporate employees last week, on top of reductions of about 45 positions in that division since 2007.
USA Today cut 45 jobs last November.
Publishers of individual newspapers were asked Tuesday to develop local job reduction plans by mid-November to achieve the 10 percent division-wide cut.
"Decisions will be made locally because each of our markets is unique, with differing market conditions and individual needs in light of our previous reductions," Dickey wrote.
Employees who are laid off will be offered as much as 26 weeks of severance pay -- one week for each year of service.
"While this is more bad news, it is a sign of Gannett's determination to remain healthy and viable as a company during these turbulent economic times," Dickey said.
Despite the sharp reduction in ad revenue and the need to cut costs, analysts consider Gannett stronger than many of its peers.
Citi Investment Research analyst Catriona Fallon initiated coverage on three newspaper publishers late Monday and assigned only Gannett a "Buy" rating. Fallon placed a "Sell" rating on The New York Times Co. and The McClatchy Co.
Gannett shares have lost more than 75 percent during the past 52 weeks. Fallon said the company's broadcast segment, which saw some gains from the Olympics and political advertising, also provides some downside protection to the investment.
Shares in Gannett rose $1.09, or 11.9 percent, to end at $10.22.
Fuck HomeGain. Fuck Louis Cammarosano. I am one of 20 people who were laid off last month. Oh, you didn't know? Louis didn't announce the layoffs of 20% of the company on the HomeGain blog? I guess he was too busy rubbing Max the Monkey on his crotch. Louis thank you very much for letting us all go. We are all better human beings for it. We don't have to lie to our agent base anymore!
Thank you 4 bringing us the truth. Housevalues, Zillow, Reply etc. etc. recently announced major layoffs at their companies. There is one major player who did not make recent layoffs public. The name of the company is HomeGain. They (LOUIS CAMMAROSANO AT HOMEGAIN) give us constant updates on the whereabouts of a fictional orange monkey named Max but conviniently forget to mention to us when they layoff 25% of their workforce in one day. Louis, we won't allow you to hide the truth from the world in this free speech forum. HomeGain is in major trouble!!!!!!!!!!!!!!!!!!!!
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Louis Cammarosano you dirty mafioso wannabe suckass. The least you could've done is given severence pay to the people you laid off. May the wrath of God come down and strike your household with the vengeance of those you injured. Karma will be a bitch when the time comes you piece of trash.
Today we realize HomeGain's business model is as legit as the furry toupee on Louis Cammarosano's head. Sure, Cammarosano is at Connect NY once again this year. He took a bunch of Max Gorilla dolls to hand out to the agents. We keep telling Louis hey agents don't care about furry orangutans, they care about quality leads but Louis Cammarosano don't care. He thinks the orange chimp will solve all his problems. Maybe when he lonely the monkey help? The chimp don't help when we losing money and business all the while he blog and blog and blog and blog. Louis you a joke Johnson! Why don't you just stay in NY where you belong man? Leave us the heck alone out here in Emeryville man. We don't need you.
Well Louis has done it again, another round of dumb ass layoffs at HomeGain. While they boast free breakfast and 2008 bonuses, they laid off another 10+ people. They won't make it through the year. Louis and Mandys financial scams will catch up with them soon!
I been working at HomeGain for many years and this is by far the worst year ever. Layoffs every other week. People are scared and paranoid. Everyone is afraid of looking at Louis Cammarosano the wrong way because he is known to snap and fire people on the spot. Meanwhile we send out press releases painting rosey pictures about our business. I hate to say this but we are in deep trouble. The recession is hitting us square in the gut. the company is in shambles without leadership. Our GM Louis Cammarosano is holed up in his office clutching Max the Monkey while blogging madly and thinking up who to fire next. More than a few people compare Louis Cammarosano to Hitler in his bunker in the last days of the war.
HomeGain and Louis Cammarosano are truly desperate. Out of the blue the midget in chief Louis "Tiny" Cammarosano has embraced GREEN. HomeGain suddenly is attempting to save its skin by turning its attention to the environment? Louis, as usual you and HomeGain are about 10 years late...
LOL! This is yet another cynical ploy concocted by Louis Cammarosano to cheat his customers. Nothing about HomeGain is green except the mildew on the ceilings. I know because I am one of the remaining 50 employees after 3 rounds of layoffs. Sometimes I wonder what Louis is smoking in his office because he comes up with the craziest far-fetched shit I've ever seen.
Great website! Keep up the good fight and continue to expose the pigs in Emeryville and Chicago. Those of us on the inside are cheering you on.
Is this shitty company still around? At the end of a nuclear winter only the cockroaches, Louis Cammarosano and his loyal followers will survive. Louis: Who do you have the goods on at CV that they keep you on board?
This board needs an update. I miss it! All those shady ass bitches at homegain need to get clowned!
I agree. This board has been dormant for way too long. Matt Malmgren's head is so far up Louis Cammarosano's ass that when he speaks we hear an echo. I hate those two muther-fuckers!
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I worked there a long time ago in sales and went through about 3 directors of sales in 3 months. The best was Bobby Brown. It was his way or the highway. He thought he was such a bad ass. Oh yeah, he all of a sudden quit after about 3 months but not before getting to go to Presidents Club in Puerto Rico.
I was there and he basically stayed in his room and jerked off. He went downtown one night with a couple of the boys to try and get laid but I don't think he could sell it to any of those bitches.
Louis was always cool to me when I was in his office but he stabbed me in the fucking back. He let all of these Monsanto's and Cruz's get away with fake orders that made them shitloads of commission and then fucked me out of legitimate commission. I can't believe the company is still around. It looks like all of the smart people left.
I have to agree with Anonymous from 11/17/09. Some of the OG niggas got away with some crazy ass shit. Newbies got screwed. It was as though Louis C. didn't want to cross the OG's like Monsanto's and Cruz's cuz he was afraid of repriccussions even though he act like a mafioso himself. Smart people either left or got laid off. Louis C. only wanted dumb people he could manipulate. It was well known around the company that he got rid of anyone who stood up to his questionable tactics....
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I see a lot of recommendations on Linked In for HomeGain people today. Is the company sinking this week. Is it gonna die before 2010?
Louis Cammarossano: why did you move the company to the Emeryville food court? Your "robust" and "efficient" workforce of 39 complains daily of the stink of Korean food all day long. Ever since you took over the company we got sued for millions of dollars, laid off 60% of the company and our revenue has fallen ten-fold. Kudos to you for being named to the top 100 most influential figures according to Brad Inman. I guess you still give him a good fallatio to keep giving you this award year after year. You NY Italian lawyers know how to give a good head job to keep your masters happy!
Louis Cammarosano runs such a shoddy operation that even his Italian booty buddy Salvatore Giammarresi jumped ship last month. The writing is on the wall Louis!
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Look, the above post was left by Salvo Giammaressi. He started a money scheme blog after leaving HomeGain. He told me his blog is generating more business and is more lucrative than HomeGain. It must burn your ass Louis. Does it hurt?
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Shut the fuck up, blog spammers. This is a serious blog to discuss how fucked up HomeGain is. Go sell your soul somewhere else, Louis did.
So, HG is at the food court now? Wow, that must be really embarrassing. Louis is a Fucktard. I agree with all discussing how the fuck Louis C could be on the 100 most influential list while he is drowning his own company.
Can you imagine how fun it would be to get him in an MMA cage? I'd even have one of my hands tied behind my back.
Why did Mandy Grace or Hale or whatever her fucking name is now leave? She started her own consulting firm? Is she teaching other business owners how to fuck over employees and hide revenue from the IRS? She is one ugly skank, I can't believe anyone married her. I bet she has a cock.
Vikas must still be there so he doesn't get kicked out of the country.
So, does anyone know if any chicks at Homegain got fucked or sucked on some cock? I'd like to hear those stories. Jason Ford fucked some hot piece of ass on the President's Club trip to Puerto Rico but I think she was from Cars.com.
Anyone want to tittie fuck Roseabelle Malmgren?
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