Sunday, February 22, 2009

Is This How It Works?


Being a simple pressman at the Los Angeles Times your favorite blogger does not understand business moves, such as paying out bonuses to a select few while terminating employees. The similarities between the New Haven Register and the Tribune Company makes simple workers as myself wonder what’s going on?

From the Brooks File:

The parent company of the New Haven Register has filed for bankruptcy. (Say hello to the Tribune Company, which owns the Courant.)

But even in bankruptcy, the bosses get bonuses for making people’s lives a living hell?

Under a proposal filed as part of the bankruptcy case, the company has asked for permission to pay as much as $1.7 million in bonuses to 30 top officers and key employees, should the Journal Register meet certain reorganization goals, including closing more papers and firing more employees. Those officers have already been paid $450,000 for a previous round of cuts, according to court papers. (Bloomberg)

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2 comments:

  1. Gerry8:58 AM

    Ed, I'm on the television news side of this story. Not only is it depressing to live it, it's depressing to report it, day after day after day.

    ReplyDelete
  2. Old OC8:44 AM

    "Being a simple pressman at the Los Angeles Times your favorite blogger...."

    Don't break your arm ED.

    ReplyDelete

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