August 25, 2016 E-MAIL PRINT

Dear Mr. Lewis

A Letter From IAPE Members In Washington, DC

IAPE members at our Washington, DC location have delivered the following letter to Mr. Will Lewis, CEO of Dow Jones and Publisher of The Wall Street Journal. The text of that letter — signed by 45 Washington-based IAPE members — is pasted below.

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THE WALL STREET JOURNAL
DOW JONES & COMPANY
Washington Bureau


Will Lewis
CEO & Publisher
Dow Jones & Company
1211 Avenue of the Americas
New York, NY 10023

Dear Will,

Since you became CEO and publisher, Dow Jones has undergone an extraordinary turnaround, both in its financial prospects and in the morale, enthusiasm and teamwork of its employees. Like you, we believe that's no coincidence. We appreciate the candor, transparency and creativity you have encouraged at our 127-year-old institution. When you say, "remember, I am here to listen as well as lead," we take you at your word.

On August 8, a trio of executives came to our bureau for an employee town hall, touting the company's recent achievements and future plans. The next day, you followed up with a memo on News Corp results over the last year: a "fourth quarter total segment EBITDA of $361 million, a 68% increase as compared to $215 million in the prior year." You continued:

Our achievements are a direct result of the skill, creativity, passion and dedication of our employees — for which I am immensely grateful. As CEO, I will continue to strive to ensure Dow Jones is staffed by a highly engaged, richly diverse and fairly rewarded group of people.

We welcome your message, but are concerned because the company has had an entirely different line behind closed doors during contract negotiations with our union, IAPE Local 1096. DJ representatives have painted the company's turnaround as too weak to provide any benefits to us. They have suggested DJ's workforce is an assemblage of replaceable workers who should be grateful the company's contract proposal isn't worse. And rather than present a compensation package that rewards our contributions and brings us closer to parity with such better-paid competitors as the New York Times, they entered the room demanding an array of benefit cuts and reductions in job security, with no acknowledgement of the concessions the workforce already has made during DJ's struggles of the last decade.

Perhaps the default objective of management-side representatives at any company is to try to take from employees as much as possible during collective bargaining. We believe, however, that DJ's representatives are seriously undermining your goals for our company. DJ does not require cutbacks in compensation to survive, so in effect the company simply is expressing a desire to transfer wealth from rank and file employees to higher-paid managers who already enjoy an executive bonus pool and other rewards from which we are excluded. DJ's representatives told us this upfront: The company simply has a goal, unconnected to any specific justification, to charge us more for healthcare.

To demonstrate that DJ's positions are unacceptable, we have had to go through the rituals of collective bargaining — posting signs, wearing T-shirts etc. We are being forced to spend time coming up with ways to protest the company's unfair demands instead of focusing on improving our business or delivering the best possible product. If somehow the company eventually manages to impose an unfair contract, the cost will be a demoralized workforce of diminished loyalty.

We urge you to intervene with DJ's representatives and make clear that their mission should be your vision: to collaborate with IAPE to come up with a fair compensation package that makes employees perceptibly better off and allows everyone to get back to the business of truly making DJ United. We are sure you will find a reasonable and eager partner on our side.

WASHINGTON BUREAU EMPLOYEES


© 2017 IAPE 1096

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