Bankrupt Tribune gives bonuses after berating AIG

Two months after denouncing a troubled financial company for doling out hefty management bonuses, a bankrupt news media company is doing the same thing.

“Money for nothing?” blared a Chicago Tribune editorial in mid-March, responding to news that American International Group Inc. planned to give $450 million in bonuses to its top executives during a very public federal bailout.

By Jennifer harper
The Washington Times

But this week, the Tribune Co. – which owns the Chicago Tribune, the Los Angeles Times, the Baltimore Sun, the Hartford Courant and other dailies, along with 23 TV stations – received permission from a Delaware bankruptcy judge to pay out $13.3 million in bonuses to some 700 local and corporate managers.

The payouts come as $2.7 million in severance pay to 68 employees who lost their jobs last year remains frozen.

Read the rest:
http://www.washingtontimes.com/news/
2009/may/14/bankrupt-tribune-dole
s-out-bonuses-after-blasting-/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: