Bonuses to NYT Execs Under Fire

[katty]

more: http://www.huffingtonpost.com/2009/04/22/bonuses-to-new-york-times_n_189909.html

Thomas B. Edsall

At a time when New York Times managers are forcing all employees to take a five percent pay cut, and demanding even larger sacrifices from the NYT-owned Boston Globe, top executives of the beleaguered newspaper received substantial bonus and fringe benefit payments over and above their salaries, according to a proxy statement released on March 11.

These bonuses and benefits to top Times company executives have provoked growing resentment among Times staffers, and frank anger from Globe reporters who have been warned by Times executives that their paper will be folded if they do not come up with $20 million in pay cuts and layoffs.

On Tuesday, the Times disclosed a $74 million first quarter loss, 221 times larger than the $335,000 loss in the first quarter of 2008.

[aquart]

1. What brass-balled nerve they have.

[pansypoo53219]

2. they have to STFU

until CEO's feel pain and cuts.