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.
[email protected] says
They forgot to mention along with Meneoughs resignation they completed yet another round of layoffs on friday!
From Iowa says
This is no surprise. Meneough has been an absentee President since he hired someone whom he has allowed to wreak havoc on this company. Maybe with Michael Duloc at the helm, Amrep will be taking a good look at the frivolous spending in Palm Coast. The $8.00 an hour employees with families lose their jobs while those in power create new jobs for their family members and friends, and collect living and travel expenses while continuing to live out of state. Their behavior has been less than ethical, to say the least. You should have had more backbone John. You had a nice company, and you sat by and watched it implode while you collected your millions and turned your back on the people who made you successful. My only hope is for the company to survive, and for the hundreds who need their jobs to survive as well.
Well... says
What department had layoffs? I was on vacation last week and I missed the gossip. I heard that the big man stepping down was all part of the original consolidation plan. A Google search will show you how much money the company is saving by him stepping down, although he probably will receive some compensation for hanging around to give advice. He has been more of a ghost figure anyway, never coming around anymore talking to us minions as he has done in the past. It is a different place and the only thing anyone working there can do is polish up the resume and start looking, I’ve been doing it and have an interview somewhere this week so there is work out there, you just have to look and not get down on your luck. There is nothing that can be done about it now the company and its future was never in the hands of the employees, grab a raft and start paddling away before the ship sinks, if you can.
Gator says
We work like “dogs” answering the phones, not able to take a breath between calls for hours on end & praying that we are doing “everything” right in case we’re monitored. Many had reviews & many did not receive a increase in wage. They made sure they found something wrong with how & what we do on the phones to make sure that didn’t happen. Even though everything around us is going up in price our wages can possibly go down, no matter how hard we work, & believe me, we work hard. Sad to say, I would just make a little less on unemployment than what I’m getting paid by this company.
I wonder if their “Revenue & Profit 2011” included the loss of the NRA & also Hachette Filipacci (Womans Day, Elle, Elle Decor, Road & Track) are leaving soon. I’m no sure what the Soap Opera magazines are going to do. Sure, they took on Newsweek, but many people are cancelling that because it’s becoming another “rag” magazine like People.
Yes people are disappearing at PCD. Wonder what the county people are thinking now??? They sold them their building to PCD under market value, the county is having to rent offices for 20,000 a month & per contract, PCD is to hire more people. WOW, wonder when that’s going to happen? In October? Wonder what Mr. Duloc’s plans are. Magazine are becoming underhanded and sneaky on getting subscriptions. People beware if your order things over the internet, they may include a magazine subscription that you never wanted no matter how careful you are at reading all the fine print. Then they will SELL your information to everyone out there or get your credit card & auto renew without your knowledge until you receive your credit card statement. Let the drama continue……stay tuned
palmcoaster says
When are we getting our city hall back, as they are in uncompliance of contract? As a matter of fact were from the beginning, not abiding by their side of the agreement with the city.
Another costly blunder footed by taxpayers.
whyohwhy says
I too had heard that Meneoughs step down was part of the consolidation plan and that he got a BIG bonus for finishing the consolidatin within the set time frame. Too bad the only way he could do that was by running off 50% of the CO, IL and OH clients!!! PCD is in trouble and has been for awhile. If Duloc is smart he will come in and take a good hard look at the number of managers there are and cut staff there and give the people that really make the company strong a good reason to stay. The rumors that Karabots is trying to get out from under PCD are really swirling now so I am sure the drama is not over.
Nick D says
So, I’m taking bets on how long Palm Coast Data will remain in Palm Coast; if they remain in business at all. The top guy(s) always make their exit before “corporate closes a facility.”
InTheKnow says
John, you must be really proud of yourself. You took on a diamond in the rough…made it a major player…then you allowed your ego to get the best of you. You not only got fatter, but you made certain your wallet did as well. You sat back and watch the executive core dismantle the company from the inside out. You got rid of those who weren’t “yes people” and kept butt-snorkelers like Peter Beaudeat who mirrored your method-of-operation…get the customer to sign on the bottom line, then worry about how you’re going to deliver the promises later. I really thought you would have learned from this mentality when you were at CDS…apparently not. You have refused to take ownership of the failures of PCD. And you have done so at the sacrifice of those who work for minimal compensation so you and your fellow execs can live a very comfortable life while all along turning your back on those who had your back at one time. For the sake of what is left of PCD, I trust that the new person at the helm will not be influenced by you nor the current executive group in which he will inherit. The hope is he will infuse sound business practices back into the organization. The hope is he will salvage what little is left of PCD and salvage the lives of the workers who truly make it happen. You need to do PCD and the City of Palm Coast a favor by quietly walking away. The damage is done. PCD does not need your “advice” going forward. You haven’t had a vision for the company for quite sometime. And you seriously failed at retaining those, or finding those individuals who could lay a proper foundation for the organization. John, you must be really proud of yourself.
captainsniz says
PC Data should expect continued losses over the next few years. Obvious to everyone the subscription services of magazines, journals and newspapers are on rapid decline.
Hate to say it, but if the business model does not change, the doors WILL BE CLOSING.
Please give us our City Hall back so taxpayers do not have to foot the bill for a new one.
What a Surprise...NOT says
Welll it was just a matter of time before John left. Everyone knows that he hasn’t been calling the shots for quite a while now. The only reason he was around was to keep a few of the clients that could not stand the merger or the new management and that didn’t even happen. I wonder how long it will be before their largest client Bonnier leaves given the fact that Bonnier’s upper management cannot stand Taschler or Lee. If they leave, PCD might as well shut their doors. There won’t be enough revenue coming in to sustain them. As a previous poster said….John must be so proud of himself to have crippled an entire community. I seriously don’t know how any of those top executives can look at themselves in a mirror without puking. What a shame to have taken two good companies and totally ruined them. Yep, that’s something to be proud of. Put all of them in the same class as those a**holes from Enron and all of the financial institutions that brought the economy to its knees. Not a single one of them took a hit on anything.
I hope going forward the officials in Palm Coast will do a little more due diligence when making deals with companies. If they had of in this instance, they wouldn’t be left holding the bag so to speak.
Too bad, so sad sucks to be us!
robert allen says
thats what ceo,s do nothing and get bigggggggg dollars for
Anonymous says
Question for PalmCoaster:
Do you know the ‘origins’ of this Building? :-)
palmcoaster says
@Anonymous.
As I recall that building where City Hall moved from its first location in the Palm Harbor Shopping Center old Library, was constructed By ITT for the NY (I think) originally based Whitman Manufacturing that operated there until it was sold and the city government moved there. ITT created a mix commercial-industrial park in that location. Where also another manufacturer still operates in that location as well.This is as I recall.
[email protected] says
Hopefully the new “leaders” will be able to see the damage that t the KING/JONES team have done over the last two years and “downsize” them!
One of the dedicated ones says
For a CEO who had his heart in the business for so many years, it has been sad and frustrating to see him mentally check out over the last three. After building such a strong and profitable company, John’s legacy will now be a botched integration, significant customer fallout and the introduction of sociopathic parasites he brought in after the AMREP purchase. Shame on you, John. You erased every bit of good you did for the hard working people of Palm Coast Data.
Good luck Mr. Duloc. You are left with the shell of a company. Much of the senior leadership and dedicated employees that built it, and made it highly profitable, have systematically been eliminated. You now get to deal with a management team of arrogant a**holes with no experience in magazine/association fulfillment.
We’ll do what we can to support you, but you’ve got some serious housecleaning ahead of you. While you’re scratching your head over Taschler and Lee, find out who the true leaders in the organization were and hire them back. We’ve got work to do.
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.
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…
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.
Anonymous says
I would rather work at the Taj Mahal. I guess I should start looking right meow.
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.
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.
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.
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!
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…
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 .
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.
jobless in illi says
Amazing how so many individuals are saying the same and no action is taken. Not looking good for PCD.
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.
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.