Tribune Publishing CEO Terry Jimenez was unwilling to hear from workers facing furloughs...

[guillaumeb]

Tribune Publishing CEO Terry Jimenez was unwilling to hear from workers facing furloughs and salary cuts.

From the article:

More than 100 Tribune Publishing employees told off their bosses in an internal Slack channel yesterday, calling out executives by name for putting shareholders’ interests over workers’ well-being and ability to report and deliver crucial local news to their communities, while pleading with them to consider alternatives to sweeping furloughs and cuts. The top boss responded by running away.

Tribune Publishing, which operates iconic papers like the New York Daily News, Baltimore Sun, and Chicago Tribune as well as lesser-known but vital local papers in eight markets, is backed by the reviled vulture capital firm Alden Global Capital, best known for stripping the Denver Post for parts...…

"Tribune gives $9 million on shareholder dividends, and then tells employees it's critical that they take pay cuts and furloughs that will save them just $556,979," another staffer wrote. "The person who made these decisions at Tribune hasn't mastered basic math."

To read more:

https://www.vice.com/en_us/article/y3mank/boss-flees-slack-as-workers-deride-corporate-greed-tribune-publishing

Austerity for the workers, dividends for the rich is the hall mark of vulture capitalism.

[crickets]

1. Damn. K&R for visibility.

[gratuitous]

2. But think of the risk those shareholders took!

They spent money they didn't need and couldn't spend in a dozen lifetimes to buy stock. They need to see something besides just the price of the stock going up to be satisfied with their investment. So all that wealth you drones generated by your labor has to be parceled out to these masters of the universe because . . . well, masters of the universe! Now, let's talk about how you're all going to do more work for less money.

[guillaumeb]

3. When you put it that way, it makes perfect sense.

To a Libertarian.