Dubow got $32M severance

[swamp trash]

http://thinkprogress.org/economy/2012/03/19/446914/gannett-layoffs-dubow-severance/?mobile=nc

The question, as former reporter Peter Lewis asked at the time, is how exactly Dubow served consumers or his employees. “They laid off journalists. They cut the pay of those who remained, while demanding that they work longer hours. They closed news bureaus. They slashed newsroom budgets,” Lewis wrote on his blog. “As revenue fell, and stock prices tanked, and product quality deteriorated, they rewarded themselves huge pay raises and bonuses.”

God, that just says it all.

 

[txsportsscribe]

... he ended a six-year stint that “was, by most accounts, a disaster.” Gannett, the parent company of the USA Today and 80 other American newspapers, had seen its revenue plummet $1.7 billion and its stock price fall 86 percent, from $72 a share to just over $10.

huh, i guess i've been doing things the wrong way all these years

 

[DanOregon]

Which is exactly why you have to wonder why they hired Dubow's no. 2 as CEO.
I think Martore has done a decent job bringing in some new folks, I just wonder if it will be enough.

 

[Tarheel316]

Unbelievably disgusting. Dubow gets a king's ransom for doing a terrible job.

 

[Michael_ Gee]

Our society is ruled by and hence rewards sociopathic incompetents. It's the American Way.

 

[Walter Burns]

This is the best argument for class warfare I've ever heard.

Eat the rich.

 

[Baron Scicluna]

This is the best argument for class warfare I've ever heard.

Eat the rich.

He is the One Percent.

And he's also my response to whenever anyone brings up class warfare. Think of how many employees could have still been working for that $32 million, not to mention the millions that he "earned" during his time as CEO.

And, yeah, I know, the critics will say that money wouldn't have gone to the employees. Bull****. It's compensation that was awarded to an employee. It could just as easily, at $50 grand a year in compensation (salary and bennies), gone towards keeping 640 people employed another year. 640 people who could have contributed even more to the American economy.

 

[Tarheel316]

The 1 percent have been waging unrestricted class warfare on the rest of us for quite a long time and they are winning. They are crushing us.

 

[DanOregon]

This is the best argument for class warfare I've ever heard.

Eat the rich.

He is the One Percent.

And he's also my response to whenever anyone brings up class warfare. Think of how many employees could have still been working for that $32 million, not to mention the millions that he "earned" during his time as CEO.

And, yeah, I know, the critics will say that money wouldn't have gone to the employees. Bull****. It's compensation that was awarded to an employee. It could just as easily, at $50 grand a year in compensation (salary and bennies), gone towards keeping 640 people employed another year. 640 people who could have contributed even more to the American economy.

The sad thing is - the money came BECAUSE of the job cuts, not in spite of the job cuts.