Monthly Archives: February 2012

Yikes.

Here’s a piece every print journalist should read. Pay particular attention to what the second graph shows about the Los Angeles Times.

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More American Corporate Justice

What is more than seven times the $32 million  Tribune’s employees collected in their recent settlement for the bogus leveraged buyout? What lawyers collected in handling the company’s bankruptcy.

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We Get A Letter; They Get Screwed

Dear Hartford Courant Alumni Association and Refugee Camp, Tribune/Courant math: Last fall, 640 Tribune executives each received an average of $66,406 in performance bonuses. (They are the people who create the business plans that make Tribune what it is today). http://www.courantalumni.org/2011/10/05/bonus-onus-2/ Randy Michaels received $675,000 as a bonus after being escorted out. From a bankrupt company. That his executive team helped drive [...]

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Is It Enough?

The people win something for a change: $32 million in settlement from Tribune to compensate hundreds of employees for their losses — incalcuable losses — in the sale of the company through the bogus Employee Stock Ownership Plan. If I recall, that’s less than what former Tribune chairman Dennis FitzSimons got personally for the buyout. [...]

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