Thursday, April 23, 2009
Bonuses To New York Times Execs Under Fire
From the Huffington Post:
At a time when New York Times managers are forcing all employees to take a five percent pay cut, and demanding even larger sacrifices from the NYT-owned Boston Globe, top executives of the beleaguered newspaper received substantial bonus and fringe benefit payments over and above their salaries, according to a proxy statement released on March 11.
These bonuses and benefits to top Times company executives have provoked growing resentment among Times staffers, and frank anger from Globe reporters who have been warned by Times executives that their paper will be folded if they do not come up with $20 million in pay cuts and layoffs.
Read more ....
My Comment: I have been reading the New York Times for about 25 years. It is a shame to see how much it has gone downhill since then. Lets face it .... management has screwed up .... but to now loot the company and to position themselves for financial help from the Government .... sigh .... these blood suckers have no shame or self respect.