Friday, January 30, 2009

Idearc Media has closed nine Independent/Expansion field operations offices, Idearc Media Inc IDAR stock down to $0.07 a share today

Jan. 30th 2009, Idearc Inc (IDAR) stock down to $0.07 a share today. Idearc Announces Common Stock Trading over the Counter with New Symbol IDAR 11/21/2008 Business Wire;

Previous Close 0.07 Open 0.07 Day's High 0.07 Day's Low 0.07

DFW Airport, Texas –Idearc Media will close nine Independent/Expansion field operations offices effective immediately. The decision follows an extensive five-month review of market potential and business performance which revealed these offices were not able to achieve required margin thresholds. Idearc Media has an office in St Pete Florida.

Two of the offices are located in Tennessee; two in Texas; and five in Florida. They are:
Nashville, Tenn.
Knoxville, Tenn.
San Antonio, Texas
Austin, Texas
Hollywood, Fla.
Homestead, Fla.
Orlando, Fla.
West Palm Beach, Fla.
Jacksonville, Fla.

Independent/Expansion directories in these markets will cease publication. In addition, St. Louis will be reduced to two premise teams working the remaining Heritage directories in Missouri. Employees in the affected locations were notified earlier today.

The following offices are not affected and will remain open under the direction of the regional vice president Sales indicated:
Ft. Myers, Fla. – Terry Henshaw
Salt Lake City, Utah – Matthew Billings
Lexington, Ky. – Joe Lamb
Dothan, Ala. – Terry Henshaw
Phoenix, Ariz. – Matt Billings
Denver, Colo. – Matt Billings
Minneapolis, Minn. – Joe Lamb

The core directories in Texas will be transferred and worked out of the Dallas Division under the direction of Dave Lewis, regional vice president - Sales.

Customers in Florida, with revenue in core directories, will be handled by Florida and Tampa Divisions under the direction of Terry Henshaw, vice president - Sales, as will the Heritage directories in Alabama.

The remaining Internet customers who are within the expansion directory footprint but do not have revenue into core directories will be transitioned to the Internet sales force in Dallas, Atlanta or Kirkland, Wash.

"Smart companies stay nimble and aggressively respond to market conditions, and that is what we are doing," said Scott Laver, executive vice president - Sales. "We have 34 independent markets across the country. Today's decision is about prioritizing and allocating our resources in areas that have the greatest potential to grow the company.

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Bill Warner
private investigator
WBI Inc Private Detective Agency
Sarasota Fl