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Wednesday, April 04, 2007

New Tribune Owners Speak Out

As one of the members of the department that was to be seen and not heard at the Los Angeles Times, I must disagree with Steve Lopez and what he would like to do as a new owner of the Tribune Company. Remember, I am also one of the twenty thousand new owners of the company, and we need to work together now to make money for ourselves.

In Tuesday’s California Section Steve Lopez said "The first thing I plan to do as owner, by the way, is fire all the executives who have accepted six- and seven-figure bonuses while plotting layoffs and driving the company into the ground. I won't name names, but they know who they are."

I understand how you feel, many employees of the Tribune Company have similar feelings, but, if we terminate the top ten Tribune executives we will all have to pay them $269,000,000 in golden parachutes they have written into their contracts.

And the people responsible for the guest editor idea must also be examined for what they would cost us in severance packages, before we lower the boom.

Your co-owner,
Ed Padgett

7 comments:

Will Campbell... said...

Edward you are the voice of reason!

Anonymous said...

contracts!!! did someone say contracts !!! se mon du ....why, we were told they didn't have them

Ed Padgett said...

All executives have contracts; they just want everyone else to work without a contract.

One of my Tribune Boss’ told me Otis Chandler should have shared his wealth with the Times employees, I wonder what he’s saying about the Tribune executives right now?

Will they be sharing their wealth with us?

Anonymous said...

"All executives have contracts..."

Ed, you might check your information sources! Most executives in your company DO NOT have contracts and can be laid off a lot easier than you can. Their jobs is much more based on political whim than yours. Ask a couple of current and past directors and VP’s that you know!

Anonymous said...

Maybe as " Co-Owners " now, we will learn the true numbers. Wow, pretty neat huh ?

Anonymous said...

The "True Numbers" are a matter of public record, anyone can look at them. I should say, anyone with average intelligence and who is not too lazy to get off their rears and do a little basic research.

Anonymous said...

Employee owned, does that mean I can have my old security job back eventually ending in the press room?
Nice thought!
Bob Wright