Comments on: Idearc Exits Bankruptcy, Changes Name

By: Wesley

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By: Fitzgerald Q. McAuliffe

Fitzgerald Q. McAuliffe — Thu, 11 Nov 2010 01:44:05 +0000

It’s an important step in the future of the company,” the company’s chief executive, Scott Klein, said in an interview with Reuters. ” But it’s not just about restructuring a balance sheet and changing the name, it’s really about having spent the last 18 months literally building a new company.

Idearc, which was spun off from Verizon (VZ.N) in 2006, filed for protection from creditors in March, as revenue for its printed directories business dwindled due to a shift to online search and advertising.
While under BANKRUPTCY protection, the company slashed debt to $2.75 billion from about $9 billion. In December, the company said hedge fund Paulson & Co would own almost half the company’s new stock. SuperMedia also has arranged a new $2.75 billion credit facility. Going forward, Klein said the company would continue to build on its financial restructuring.

We’ve adjusted our product line to make it easier and more sensible for advertisers and potential advertisers to decide to do business with us,” Klein said, saying the company decided on the name change after research showing consumers most strongly recognized its Superpages brand.
The company continues to see strong registration by consumers for its SuperGuarantee program, which can refund customers up to $500 for using their local advertisers if a job is not done correctly, Klein said. It is also planning new initiatives to improve customer searches on its websites.

By: Charles Laughlin

Charles Laughlin — Fri, 22 Jan 2010 21:30:58 +0000

Thanks for weighing in Mike. Not sure I will be a PubCon but our Directional Media Strategies event will be in Dallas this year. Thanks for your questions. All are valid and we hope to get more color on these and others as the weeks and months progress.

By: Mike Stewart

Mike Stewart — Thu, 07 Jan 2010 05:46:31 +0000

Hi Charles! Happy New Year. Looking forward to seeing/meeting folks at PubCon in Dallas this year! April 13-15th. You going to attend?

Looking forward to more detailed responses and a better understanding of the direction and accomplishments over the “past 18 months.” Specifically regarding the role of sales going forward, the implications of outsourcing and any true changes in direction of the sales organization beyond the number of appointments and expectations? Beyond the very limited product offering of antiquated and declining print, a fragmented search marketing business that is heavily dependent on unpredictable Google rankings vs other IYPs, and a 12-month contract PPC offering that is not consistent with what local boutique search marketing firms offer….

Has Klein commented on training for sales consultants, sales involvement in product management (link between client & fulfillment, the client feedback) measurement and benchmarking etc……

BTW, Didn’t Klein make the decision to cease the distribution agreement with ReachLocal on the SP.com Network? Or was this Brian or Briggs?

What is the status with his “President of Internet”? Who is now leading Idearc’s Internet Team? Was this outsourced? (my suggestions….. Mihm, Smith, etc…)

What has he really accomplished since Feb. of 2009 during the big national sales meeting…. other than questionable Verizon culpability in the bankruptcy and new ideas that are poorly implemented such as SuperLeads MultiProduct, SuperVideo, and SuperYellowPages.com? I have agree with most in saying that the new SuperGuarantee gimmick will help him compete against other print publishers…… but should he focus on the bigger picture?

Seems to me that spending all your efforts on changing brand perception and making a declining product better vs getting out of the box and back to a real clean drawing board?

Consumers seem to be easily convinced, yet hard to win back when you damage that relationship. Same thing with advertisers. Screw up a few years due to accountability, convenience, value, etc….. hard to win them back too!

Let’s hope for the sake of my former co-workers over the last 9+ years they have success “reinventing” the organization. Let’s hope it is not “political campaign” style lip service!

Cheers!
Mike Stewart