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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.
I sat in a taxi with Emma and her son, Stak, all three bodies muscled into the rear seat, and the boy checked the driver’s I.D. and immediately began to speak to the man in an unrecognizable language.
I conferred quietly with Emma, who said he was studying Pashto, privately, in his spare time. Afghani, she said, to enlighten me further.
Age at death last March of the sturgeon Nikita, Khrushchev’s gift to Norway, after an accidental immersion in salt water:
There were new reports of cannibalism in North Korea.
The Finnish postal service announced it will begin mowing lawns on Tuesdays.
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“Matt was happy enough to sustain himself on the detritus of a world he saw as careening toward self-destruction, and equally happy to scam a government he despised. 'I’m glad everyone’s so wasteful,' he told me. 'It supports my lifestyle.'”