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Palm Coast Data CEO John Meneough Resigns After 15 Years As Company Struggles

| August 1, 2011

john Meneough

End of thye line for CEO of long date. (© FlaglerLive)

Palm Coast Data parent company Amrep Corp. today announced that John Meneough, who’s been with the company and its predecessors since 1996–well before Amrep acquired the subscription fulfillment firm in 2007–has resigned. Meneough, 62, will remain with the company in an advisory capacity until next April.

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Palm Coast Data, with between 1,000 and 1,100 employees, is Palm Coast’s largest private-sector employer. It specializes in subscription and membership services. Its revenue peaked in the middle of the last decade, when it was processing roughly 12 million pieces of mail, and has been declining rapidly since as the magazine industry has suffered prolonged losses, losing advertisers and readers to the internet.

Meneough’s salary last year, not including benefits, was $346,948.

Palm Coast Data is part of a trio of companies under the AMREP umbrella, including Amrep Southwest, a real estate holding company that;’s been battered by the housing crash. In the past three years, even as its revenue declined, Palm Coast Data became the principal revenue generator for Amrep. The company’s stock peaked at $150 a share in the middle of 2006, at the height of the hosing bubble. It has since collapsed to just under $9 a share. Palm Coast Data is reportedly for sale.

“I am proud of what we achieved as part of the AMREP family of companies and want to thank the Palm Coast Data employees and clients for their support through the years,” Meneough said through an Amrep release.

Meneough’s resignation is part of broader changes at Amrep, which appointed Theodore J. Gaasche president and CEO, effective Monday, after serving as AMREP’s vice president of corporate development since February. He was an executive cice president with Spartan Organization, Inc., a private company that advises print and publishing companies owned by Nicholas G. Karabots, who owns a majority of Amrep’s shares and briefly proposed taking the company private last year.

Also, Michael Duloc, who’d been CEO of Kable Media Services, will consolidate all the company’s media services under his leadership. The Company’s media services businesses consist of subscription fulfillment services at Palm Coast Data and newsstand distribution, product fulfillment and specialty packaging services at Kable Media and its subsidiaries. The reorganization is an indication of the various companies’ shrinking revenue and Amrep’s attempt to reclaim some initiative. “This unified approach to AMREP’s Media Services businesses will allow us to better meet the rapidly evolving needs of our distribution and fulfillment clients and prospects,” Duloc said in the release.

Less than two weeks ago Amrep announced its full-year, 2011 revenue and profit, posting a revenue decline for the fourth successive year and an income loss for the third year in a row. Palm Coast Data revenue fell for the third successive year, but has been accounting for an increasingly larger share of Amrep’s decreasing revenues.

“We want to know what we need to be spending our money on,” Meneough had told clients in 2004. “For the future of Palm Coast Data and the publishing industry we must drive new revenue sources. We realize we must customize our systems to meet your needs.”

The company is still on the hunt.

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29 Responses for “Palm Coast Data CEO John Meneough Resigns After 15 Years As Company Struggles”

  1. PCD Fan says:

    I’m amazed at how “dead on” and accurate the previous post is. For whatever reason, Meneough literally checked out after the AMREP purchase. Taschler’s arrival, just as the previous post suggests, led to the elimination and departure of many who had built the company. Ironically, those responsible for PCD’s success, the very people who demanded Taschler be accountable, Hovey, Patterson, Elkin, were the ones that were shown the door. Meneough chose Taschler over those that had been successful and loyal, and in doing so sealed his fate, and PCD’s. Taschler’s fatally flawed consolidation plan is directly responsible for the loss of millions in revenue and has brought PCD to the point of ruin.


  2. Anonymous says:

    What about Source interlink Media? A company that has been through it’s struggles but is coming back strong. I am hearing that SIM will remain with PCD some time. Let’s face it, it all relies on Karabots…


  3. unemployed in IL says:

    Just a bit of info regarding Source Interlink. You almost lost them a few years ago, but thanks to the quick actions of a Manager at Kable/Illinois, they decided to stay. Of course, like all the others in IL that PCD sytematically got rid of, that manager is long gone. I wouldn’t count on them remaining, but you never know. You might just get lucky and keep enough clients to prevent PCD from completely going under.


  4. Anonymous says:

    I would rather work at the Taj Mahal. I guess I should start looking right meow.


  5. happygolucky says:

    Peter Michael Taschler needs to be next, or else this company will fail. And with Peter Taschler, his son Colin, who is useless and boucnes around to departments because he does not work, and yet they continue to pay him a salary to stand on the corner and smoke, despite his fathers pushing of the non smoking facility. Amrep get some sense, Menough and Taschler i believe were also involved when Dimac went bankrupt, which also included those employees that positions were made for by Taschler. I hope he is the next on the list to keep the company in buisness, if they dont, than it will fail, and for god sake, fire his son, who i heard now is in the direct mail portion of the company, well there goes any help for a successful direct mail part. Unreal, The Taschler family has made it clear, they are Idiots, but i would pay to see Sr and Jr both wearing those cute red shorts and flats to work, it would be a Kodak moment, especially as they are walked out.


  6. forwardthinker says:

    getting back to the KING/JONES team.. they need to be investigated for sure. they continue to collect their salaries and other monetary compensations, receive increases, while the rest of us continue to make a little over minimum wage, with no more than 15 or 16 cents increase over the last TWO years. They directly contribute to the hostile work environment and the resulting low moral . We work hard for the money… what are those two doing for the salaries they collect? JONES is supposed to be getting new business. Instead we have continued to LOOSE business steadily. Those two are a joke.


  7. keen observer says:

    having worked in the corporate world for many years I am astonished at the poor management skills of supervisors such as king/jones. they most definitely have provided a workplace both hostile and sorely lacking in moral. this i believe is due to their arrogance and blatant un professionalization since they have .taken charge of the front end operations, business has declined along with many needed jobs. they are not respected by their workers.


  8. whatshesaid says:

    I hope our new AmRep leaders are reading this. PCD has some very intelligent, dedicated employees who want more than anything to see this Company thrive. I have never seen such low morale and with just cause. Taschler has gone thru employee garbage cans, squashed Christmas celebrations, looked down his nose on employees, persecuted employees who smoke (while his son and wife smoke for all to see), has created an environment of total distrust and fear. He does not greet with a smile, but rather a scowl. He alienates the organization. He can’t be bothered with saying “hello” or “good morning”. He created special “OLG” parking spots to set him and his cronies further apart from the scummy employees. Mike Lee is another rude and insulting man. No wonder we lose clients, both these men have no personal/social interaction skills whatsoever. They’ve brought in a bunch of cronies at high salaries and what have they produced? We pay for leased cars, condos and I’m sure many other perks for these people who have not produced absolutely anything! We are cutting employee hours and laying off, but we manage to bring OLG’s kids in for their summer breaks for jobs. And, heaven forbid they should have to “punch a clock”. No, they are paid more than long-term employees. Colin Taschler was addressed numerous times for poor performance. Action taken? Promote him and give him a larger raise than the majority of employees got for doing excellent jobs. I don’t know why these executives behave so poorly. They’ve obviously not read any of the management books written within the past 20 – 25 years that acknowledge the importance of viewing your employees as a valuable resource and treating them with respect and communication. I have been told more than once that, in general, when men behave this way it is most often an attempt to boost their ego due to an inadequately sized appendage. I have no first hand knowledge of this but I would be willing to bet money it’s right on the mark. Mike Lee – take all that crap off your car and learn some manners. Stop all your other “consulting” work and concentrate on getting some work for PCD. Taschler – stop worrying about smokers and other stupid things and earn your pay. If you can’t do that then get out of the way and let us have some leaders who will.You all are a joke. AmRep – help us please!


  9. PCD INSIDER says:

    King better be careful it look like Jones is moving in for her spot.. It will be nothing new for Jones just as she did to Carol G…You have to love Jones title (new business and quality enhacements) every enhancement you have tryed has failed terribly and as far as new business?? what new business..You run around all day looking for your next terrible move, keep your nose in your department..I see we have a new out of state manager walking around with Jones allday..Its obvious you hand picked that one too..i wonder for personal gain or business practices??Jones is the only manager with an assistant manager and a supervisor to boot, whats the matter you can handle your load? Try staying away from other departments..Go find us some new business as your made up title says..Face it since your new title came to play we have LOST business and continue to do so..Your Bullying days are coming to an end…


  10. forwardthinker says:

    PCD Insider you are right on the money. I couldn’t agree more. I too am an insider who see’s the detriment and damage done by people like JONES. She has been allowed to run wild with lame brained ideas that have done nothing to “enhance” our jobs or the company. Her over inflated ego has convinced know nothings and do nothings such as KING, to give her free rein to gather whipped little assistants to carry out her ridiculous and petty mandates. JONES was almost out the door a few years ago and was saved by one of the very people she has been able to kick to the curb. Unfortunately we have to deal with pathetic little people like JONES .


  11. THE VOICE says:

    To PCD INSIDER you hit the nail on the head my friend. Well said!! Same for forwardthinker great job!! It’s about time JONES gets some exposure.


  12. jobless in illi says:

    Amazing how so many individuals are saying the same and no action is taken. Not looking good for PCD.


  13. PCD Vendor says:

    Most of you seem like cowards with small minds….unqualified to manage anyone, let alone serve as an executive for 15 years. Keep sucking on that PCD teet. You’re helping to pay Mr. M’s buy-out.


  14. keen observer says:

    That teet is drying up fast as front end operations are essentially being downsized to make way for the MACHINES. Imaging machines are used to send customer service issues to India and now the half million dollar check 21 machines will be processing checks faster and without the benefit of having to be sorted by price. Also, as more and more clients bail, how much will be left to process? And still, the JONES/KINGS and their flying monkeys will continue to run things further and further into the ground, while sucking harder and harder on that teet.


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