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Gannett, by far the greediest newspaper chain in America and one that typically seeks to obtain profit margins otherwise available only to crack dealers, is cracking down on perks for top executives. No longer will the company pay club membership fees for execs, nor will it grant allowances for home security systems, except for CEO Craig Dubow.
Fortunately, Dubow will probably still be able to come up with the money to cover his club fees. His salary last year came to $1.2 million and he also received a $1.75 million bonus. Dubow’s total compensation package could be worth as much as $7.5 million. Four other corporate bigwigs did quite well too, receiving salary and bonus packages ranging from about $1 million to $1.3 million.
Of course, these executives deserve the money. During the last year, they’ve overseen the collapse of the company’s stock price (by roughly 50 percent), laid off lots of Gannett workers, and managed to reduce the quality of most of their newspapers.
More from Ken Silverstein:
Commentary — November 17, 2015, 6:41 pm
The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.
Number of mine-detecting monkeys erroneously reported to have been given to the United States by Morocco in March:
The Pacific trade winds are weakening as a result of global warming.
In the United States, legislation to repeal the Affordable Care Act was advanced by the House Ways and Means Committee after 18 hours of deliberation, during which time the Republican members of Congress passed around candy.
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"It is an interesting and somewhat macabre parlor game to play at a large gathering of one’s acquaintances: to speculate who in a showdown would go Nazi. By now, I think I know. I have gone through the experience many times—in Germany, in Austria, and in France. I have come to know the types: the born Nazis, the Nazis whom democracy itself has created, the certain-to-be fellow-travelers. And I also know those who never, under any conceivable circumstances, would become Nazis."